VANCOUVER, British Columbia, Oct. 13, 2022 (GLOBE NEWSWIRE) -- North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) is pleased to report that crews have been mobilized to start an exploration till sampling and ground geophysical survey program at its 100% owned Pikoo Diamond Project, located approximately 140 km east of La Ronge, Saskatchewan.
Till sampling is intended to better define several unsourced kimberlite indicator mineral trains and to test previously unsampled areas down-ice of priority potential kimberlite targets generated from a recent review of project datasets. North Arrow’s kimberlite discoveries at Pikoo, including the highly diamondiferous PK150 kimberlite, have shown that till sampling is an effective exploration tool in this area and positive kimberlite indicator mineral results from this program would immediately position these new targets as a priority for drill testing in 2023. Ground magnetic surveys will also be completed over land-based targets, along with preparatory line cutting in advance of an exploration drill program next year.
About the Pikoo Diamond Project
The Pikoo Diamond Project consists of 39,752 hectares of mineral claims located approximately 140 km east of La Ronge, Saskatchewan. An all-season road and power line to the community of Deschambault Lake comes to within 6 km of the project’s southern boundary. North Arrow has discovered 10 kimberlite occurrences within the project area and microdiamond testing of five of the kimberlites has confirmed they are diamondiferous. All kimberlites have been discovered at or near the up-ice termination of well-defined kimberlite indicator mineral trains. Detailed petrography of the kimberlites in conjunction with diamond results, mineral abundances and detailed till sampling information indicate that additional, as yet undiscovered kimberlites are located within the project area. Details on diamond recoveries and past exploration efforts can be found at North Arrow’s website here.
North Arrow’s exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo., President and CEO of North Arrow and a Qualified Person under NI 43-101. Mr. Armstrong has reviewed and approved the technical 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’s most advanced diamond project is the Q1-4 diamond deposit at the Naujaat Project (NU), where diamonds recovered from a $5.6M, 1,814 tonne bulk sample are currently being evaluated. North Arrow has also discovered and is evaluating diamond bearing kimberlites at the Pikoo (SK), Mel (NU), Loki (NWT) and LDG JV Projects (NWT). North Arrow also maintains a 100% interest in the Hope Bay Oro Gold Project (NU), located approximately 3 km north of Agnico Eagle’s 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/55c843d2-3882-48f6-8ceb-2f6f35edae66
