VANCOUVER, British Columbia, Jan. 22, 2018 (GLOBE NEWSWIRE) -- North Arrow Minerals Inc. (TSXV:NAR) reports that it has significantly increased the size of its 100% owned Mel Diamond Project from 7,500 ha to 56,075 ha (see map). Claim staking was initiated as a result of North Arrow’s September 2017 discovery of a new diamond bearing kimberlite field at Mel, located within 20 km of tide water on the Melville Peninsula, Nunavut. North Arrow made the prospecting discovery of the ML-8 kimberlite near the up-ice termination of a well-defined kimberlite indicator mineral (KIM) train in the northern part of the project area (“Mel North”). A 62.1 kg sample of the ML-8 kimberlite returned 23 diamonds larger than the 0.106 mm sieve size, including a single, colourless diamond larger than the 0.85 mm sieve size. Details of the discovery were reported in North Arrow news release #17-12 dated October 16, 2017.
Ken Armstrong, President and CEO of North Arrow commented, “The expanded Mel Project connects the Mel North area with the Mel South KIM anomaly, approximately 15 km southwest of the ML-8 kimberlite discovery. Mel is highly prospective for additional kimberlite and diamond discoveries in 2018 with exploration work, including drilling, scheduled to commence in May.”
Exploration drilling will focus on defining the ML-8 kimberlite, as well as testing a series of targets at the head of three well defined KIM trains in the Mel North area. A study of till and other glacial deposits is presently underway, intended to better understand the Quaternary (or glacial) geology and terrain within the expanded project, in particular the central project area between the Mel North and Mel South KIM trains. This central area has seen very little previous till sampling and is interpreted as having a complex glacial history. Results from the study will be used to plan a follow up till sampling program during the summer of 2018 to better define the Mel South KIM train and to identify new KIM targets within the property.
Mr. Armstrong continued, “The ML-8 kimberlite discovery is a highlight of North Arrow’s 2017 exploration programs. Since becoming a diamond focused explorer in 2013, North Arrow is the only junior exploration company to discover a kimberlite field in Canada, having now discovered two of the five kimberlite fields found during that period. In addition to drilling at Mel, North Arrow is well positioned for further discovery in 2018 with spring drill programs planned at the Loki and LDG Projects in the NWT as well as pending diamond results from a 210 tonne mini-bulk sample collected from the Q1-4 kimberlite at the Naujaat Project.”
North Arrow’s diamond exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo. (ON), President and CEO of North Arrow and a Qualified Person under NI 43-101. Mr. Armstrong has reviewed the contents of this press release.
About North Arrow Minerals
North Arrow is a Canadian based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada. North Arrow’s management, board of directors and advisors have significant successful experience in the Canadian diamond industry. In addition to the Mel Project, North Arrow is presently finalizing diamond recoveries from a mini-bulk sampling program at the Naujaat Project (NU), and is also preparing for exploration drilling programs this spring at the Loki and LDG Projects in the NWT, and awaiting till sample results from its Pikoo (SK) Project. North Arrow also maintains a 100% interest in the Hope Bay Oro Gold Project (NU), located approximately 3 km north of TMAC Resources’ new Doris Gold Mine.
North Arrow Minerals Inc.
/s/ “Kenneth A. Armstrong”
Kenneth Armstrong
President and CEO
For further information, please contact:
Ken Armstrong
Tel: 604-668-8355 or 604-668-8354
Website: www.northarrowminerals.com
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for the adequacy or accuracy of this release.
This news release contains "forward-looking statements" including but not limited to statements with respect to North Arrow’s plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although North Arrow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. North Arrow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.