VANCOUVER, British Columbia, June 18, 2021 (GLOBE NEWSWIRE) — North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) is providing an exploration update on its 100% owned Loki and CSI Diamond Projects.
North Arrow reports that kimberlite was not discovered during an exploration drill program at the Loki Project located in the Lac de Gras region of the Northwest Territories. Six holes were completed during the program which tested several gravity anomalies that were explained by significant, locally >5m, ice lenses within glacial overburden ranging from 25 to over 30m in thickness. The prominent kimberlite indicator mineral train that terminates in the Loki area remains unexplained. Overburden samples collected during the program will be processed for indicator minerals to help with ongoing interpretation.
North Arrow is pleased to report it has commenced a short till sampling program on its newly staked CSI Project, Nunavut. The property is located immediately west of the diamondiferous Muskox and Jericho kimberlites, covering an area that could potentially host a bedrock source for regionally anomalous kimberlite indicator mineral samples reported by earlier workers. North Arrow’s till sampling is intended to test new interpretations of surficial geology in the area which could help identify a kimberlite source within the property.
The Loki Diamond Project exploration program is managed by Michael MacMorran, P.Geo. (NWT/NU), Project Geologist of North Arrow. North Arrow’s diamond exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo. (NWT/NU and ON), President and CEO of North Arrow and a Qualified Person under NI 43-101. Mr. MacMorran and Mr. Armstrong have reviewed and approve 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 funding is in place for a $5.6M 2,000 tonne bulk sample in 2021. The Company has also discovered and is evaluating kimberlite fields at the Mel (NU) and Pikoo (SK) Projects and is evaluating and exploring for additional kimberlites at the Loki and LDG JV Projects (NWT). The Company 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”
President and CEO
For further information, please contact:
Tel: 604-668-8355 or 604-668-8354
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.