VANCOUVER, BC--(Marketwired - September 08, 2015) - North Arrow Minerals Inc. (TSX VENTURE: NAR) is pleased to report new microdiamond results from the PK150 and PK312 kimberlites and confirms the discovery of new kimberlite PK311. The kimberlites are located within the Pikoo Diamond Project in central eastern Saskatchewan, approximately 10 km north of the road accessible community of Deschambault Lake. These new results have come from drill core samples recovered during the spring 2015 exploration drilling program (please see North Arrow news release dated March 30, 2015 for details). Highlights of this news include:
- Caustic fusion analyses of 323.02 kg of kimberlite from PK150 have resulted in the recovery of 487 diamonds larger than 0.106 mm sieve class, including 9 diamonds greater than the 0.85 mm sieve class;
- Weakly magnetic transitional kimberlite discovered at the eastern end of PK150 has returned diamond counts consistent with the remainder of the kimberlite.
- A 14.5 kg sample from hypabyssal kimberlite PK312 has returned five diamonds, confirming the PK312 kimberlite dyke as diamond bearing.
- A new kimberlite, PK311, has been confirmed, increasing the number of discrete kimberlite occurrences within the Pikoo Project to seven. A sample of this magnetic weathered micaceous unit has returned significant numbers of kimberlite indicator minerals (KIMs), including pyrope and eclogitic garnet and ilmenite.
Ken Armstrong, President and CEO of North Arrow, commented "These new diamond results from PK150 are consistent with those reported from the 2013 discovery drill holes and confirm PK150 as a significantly diamondiferous kimberlite with increasing size potential located less than 20km from road and power infrastructure in Saskatchewan. Planning is underway for a detailed follow up geophysical program in advance of a winter drilling program to further delineate PK150 and the other kimberlites on the property, as well as to test new targets."
PK150 Diamond Results -- The new PK150 caustic fusion results are summarized in the following table and are discussed in a narrated presentation available at https://www.youtube.com/watch?v=P9zBOFvzH2g.
|| ||Number of Diamonds per Sieve Size (mm Square Mesh Sieve)
Approximately 36% of the recovered diamonds are aggregates, 30% are octahedra, and 16% macles. Approximately 78% of the diamonds are white in colour. These results are consistent with the 2013 microdiamond results (please see news release dated November 5, 2013 for details) and confirm PK150 as a significantly diamondiferous kimberlite. The 2015 drilling program expanded the size of PK150 to at least 150 m in length, including an interval of transitional, weakly magnetic kimberlite at the eastern end of the pipe-like body. Diamond recoveries from this unit are consistent with elsewhere in the kimberlite, which is important as the kimberlite remains open in this area, as well as to depth, and the occurrence of interpreted transitional type textures could be important for the volume potential of PK150 and for the discovery of other kimberlite bodies within the project.
PK312 Kimberlite -- A 14.5 kg sample (inclusive of 1.8 kg of country rock dilution) of PK312 returned five diamonds including four greater than the 0.106mm sieve size and one greater than the 0.150mm sieve class. The sample size is very small but has confirmed the kimberlite to be diamond bearing. PK312 was discovered as 1.5m intervals of coherent kimberlite in two angled drill holes (please see North Arrow news release data March 30, 2015 for details). The KIM train down ice of PK312 is well constrained and there is room for additional targets to be identified near its up ice termination.
PK311 Kimberlite -- As previously reported, a target (PK311) drilled on the east side of the Pikoo project area in 2015, intersected a magnetic, weathered black micaceous unit with local green to white carbonate fracture fillings and veinlets crosscutting an adjacent country rock breccia unit. A 1.45kg sample of this unit was submitted for KIM analysis and has confirmed this unit as kimberlite with the presence of hundreds of indicator minerals including mantle-derived pyrope and eclogitic garnets and kimberlitic ilmenite.
PK314 Kimberlite -- Microdiamond results from kimberlite PK314 have yet to be received and are expected within the next four weeks.
Planning is also underway for a detailed helicopter borne magnetic survey over the up ice terminations of KIM trains within the project area. The purpose of the surveys is to define additional new targets for a winter 2016 drilling program. This winter drilling will focus on fully delineating the extent of kimberlites discovered to date and testing new targets defined by the magnetic survey.
Scientific and Technical Data
Diamond results reported above are based on caustic fusion processing completed by Microlithics Laboratories, Thunder Bay, Ontario, an independent mineral process laboratory facility. Caustic fusion residues were sent for final diamond recoveries to I&M Morrison Geological Services Ltd. in Delta, British Columbia, an independent mineral sorting and petrographic laboratory. 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. North Arrow's diamond 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 the contents of this press release
Exploration of the Pikoo diamond project is conducted with Stornoway Diamond Corporation (TSX: SWY) under an 80% (North Arrow) / 20% (Stornoway) participating joint venture arrangement.
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 Pikoo Project, North Arrow is also currently evaluating each of the Qilalugaq (NU), Redemption (NWT), Lac de Gras (NWT), Mel (NU), Luxx (NU) and Timiskaming (ON/QC) Diamond Projects.
North Arrow Minerals Inc.
/s/ "Kenneth A. Armstrong"
President and CEO
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.
Embedded Video Available: https://www.youtube.com/watch?v=P9zBOFvzH2g