VANCOUVER, British Columbia, Nov. 13, 2018 (GLOBE NEWSWIRE) -- North Arrow Minerals Inc. (TSXV-NAR) is pleased to provide an update on the Company’s 100% owned Mel Diamond Project, Nunavut, including initial microdiamond recoveries from surface sampling of kimberlite ML8. The Mel Project is well located, approximately 20 km from tidewater with exploration work conducted from a camp established approximately 140 km south and 210 km northeast of the Hamlets of Hall Beach and Naujaat, respectively. Highlights of this update include:
- Caustic fusion processing of 129 kg from ML8 has returned 33 diamonds greater than the 0.106 mm sieve size including one diamond greater than the 0.85 mm sieve size;
- An additional 78 kg of ML8 has been processed with final diamond recoveries underway;
- Drill core from kimberlites ML8 and ML345 is now in Vancouver and undergoing detailed petrographic logging as well as kimberlite indicator mineral (KIM) and microdiamond sampling;
- Processing has started on 447 till samples collected during the summer field program. KIM recoveries will be used to better define existing and new targets within the 56,075 ha project area.
President and CEO, Ken Armstrong commented “Microdiamond recoveries from kimberlite ML8 continue to be encouraging, with diamonds recovered across a range of sizes. We look forward to receipt of further sample results from ML8 and ML345, as well as 447 till samples collected as part of an extensive sampling program completed during the 2018 summer program. KIM results from the till and kimberlite samples will be very important for defining priority target areas within the project. The Mel exploration camp remains in place to support renewed exploration drilling of new and established targets in 2019.”
Caustic fusion results for a 129 kg composite sample of kimberlite ML8 are summarized in the following table along with earlier reported microdiamond results from 2017:
| Number of Diamonds per Sieve Size (mm Square Mesh Sieve) | |||||||||
| Sample Year | Sample Weight Dry Kg | +0.106 -0.150 | +0.150 -0.212 | +0.212 -0.300 | +0.300 -0.425 | +0.425 -0.600 | +0.600 -0.850 | +0.850 -1.18 | Total Stones |
| 2018 | 129.0 | 7 | 9 | 8 | 6 | 1 | 1 | 1 | 33 |
| 2017* | 62.1 | 9 | 3 | 5 | 4 | 0 | 1 | 1 | 23 |
| *Previously reported in North Arrow news release date October 17, 2017 | |||||||||
The majority of recovered diamonds, including the three largest stones, are white to off-white in colour. Most are fragments or broken with very few intact crystals. The 129 kg sample is part of approximately 220 kg of subcrop and float collected from kimberlite ML8 during the summer 2018 exploration program (please see North Arrow news release dated September 24th, 2018 for details on the program). An additional 78 kg of kimberlite have been processed and final microdiamond sorting is underway. The remaining 13 kg have been submitted for an evaluation of KIM abundance and compositions.
Drill core recovered from kimberlites ML8 and ML345 as part of the 2018 exploration program is now in Vancouver. Detailed petrographic logging is near completion and KIM and microdiamond sampling of the core is underway.
Till samples collected during the field program have arrived at the processing laboratory in Thunder Bay, ON and processing is underway. The 447 till samples provide complete coverage of the entire Mel Project area and results will help better define existing KIM trains and identify new target areas within the property. Results are expected during the first quarter of 2019.
Scientific and Technical Data
Diamond results reported above are based on work completed by Microlithics Laboratories, Thunder Bay, Ontario, and I&M Morrison Geological, Delta, British Columbia. Both are independent mineral process and sorting laboratories. Quality assurance protocols, security and actual operating procedures for the processing, transport and recovery of diamonds conform to industry standard Chain of Custody provisions. As part of North Arrow's ongoing QA/QC programs, concentrate residues and other materials are subject to audit. Any significant changes to recovered diamond contents will be reported when available.
The Mel Diamond Project field program was managed by Michael MacMorran, P.Geo. (NU/NWT), Project Geologist for North Arrow. The Company’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. MacMorran and Mr. Armstrong have 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 global diamond industry. North Arrow has discovered and is evaluating kimberlite fields at the Mel (NU) and Pikoo (SK) Projects, is evaluating a newly discovered kimberlite at the Loki Project (NWT) and has exposure to discovery drilling at the LDG JV Project (NWT) with partner Dominion Diamonds. The Company’s most advanced diamond project is the large, well located Q1-4 diamond deposit at the Naujaat Project (NU). The Company also maintains a 100% interest in the Hope Bay Oro Gold Project (NU), located approximately 3 km north of TMAC Resources’ 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
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility
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.