North Arrow Updates Timiskaming, Luxx and Mel Diamond Projects
12 Maggio 2014 - 2:30PM
Marketwired
North Arrow Updates Timiskaming, Luxx and Mel Diamond Projects
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 12, 2014) -
North Arrow Minerals Inc. (TSX-VENTURE:NAR) is pleased to provide
an update on each of its Timiskaming, Luxx and Mel Diamond
Projects, including exploration plans for 2014.
Timiskaming
North Arrow and Stornoway Diamond Corporation (TSX:SWY) have
commenced an evaluation of four of the seven kimberlites that form
part of the Timiskaming Project joint venture in northeastern
Ontario and northwestern Quebec. The program will use approximately
3,300 kg of archived drill core from the 95-1, 96-1, Baby and
SC-118 kimberlites to complete a comprehensive evaluation of the
mineral chemistry of each kimberlite, and to evaluate their
potential to host a coarse diamond population. The diamond
evaluation will consist of processing a series of micro-DMS samples
for the recovery of +0.3 mm diamonds. Due to small sample sizes,
this work will not be definitive, however the recovery of even
single +0.3 mm diamond from any of the bodies would have positive
implications for the project and could result in the need for new
drilling to delineate and better assess the kimberlite. The mineral
chemistry work will complement the extensive project database and
allow for interpretation of locally anomalous till sample results
in the vicinity of the kimberlites and evaluation of untested drill
targets in these areas.
Exploration of the Timiskaming Project is conducted under an
80%/20% (North Arrow/Stornoway) participating joint venture.
Luxx
The Luxx project consists of approximately 100,000 acres on
tidewater, 60 km northwest from the community of Chesterfield Inlet
and 100 km north of the community of Rankin Inlet. The project
includes at least one, and possibly three kimberlite indicator
mineral ("KIM") trains defined from over 350 till samples in public
assessment records. 2013 exploration work at Luxx consisted of an
airborne magnetic survey and the collection of 64 till samples. A
number of high priority targets have been identified from the
magnetic survey, including several targets located immediately up
ice of the KIM trains. Results from the 2013 till samples have
confirmed the historic till sample results, and include two highly
anomalous samples (pyrope garnet plus ilmenite) located immediately
down ice from the highest priority magnetic anomaly. Follow up
evaluation work for 2014 will include additional till sampling and
detailed prospecting of the highest priority target areas, as well
as the acquisition of required permits for a spring 2015 drilling
program.
Mel
The Mel project consists of approximately 183,000 acres on the
Melville Peninsula, Nunavut, approximately 140 km south of the
community of Hall Beach and 210 km northeast of the community of
Repulse Bay which is also the location of North Arrow's Qilalugaq
diamond project. The property is located within 10 km of tidewater
and hosts two unsourced KIM trains defined from over 500 historical
till samples recorded in public assessment files. In 2013 North
Arrow conducted airborne magnetic surveys of the two target areas
and acquired the historical till sampling database. A review of the
database has confirmed that both mineral trains consist of high
interest pyrope and eclogitic garnets, as well as kimberlitic
ilmenite. Exploration plans for 2014 will include prospecting of
targets identified from the 2013 magnetic surveys and additional
till sampling.
About North Arrow Minerals
North Arrow is a Canadian 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 Timiskaming, Luxx and Mel
Projects, North Arrow is planning the collection of a 1,500 tonne
bulk sample from the Q1-4 kimberlite at its Qilalugaq (NU) Project
and is also evaluating each of the Pikoo (SK), Redemption (NWT),
and Lac de Gras (NWT) Diamond Projects.
North Arrow Minerals Inc.
Kenneth 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.
Ken Armstrong604-668-8355 or
604-668-8354www.northarrowminerals.com
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