Pointed in the Right Direction – North Arrow looks to 2015 with northern prospects

15 - summer 2006 - oye wedding casa del lago NWT 369North Arrow Minerals Inc. has completed an exploration drilling program at the Redemption Diamond Project in the Northwest Territories (NWT). Redemption is located in the Lac de Gras region, approximately 32 kilometres southwest of and 47 kilometres west of the Ekati and Diavik Diamond Mines respectively. North Arrow spent under $1 million on the campaign as part of its option to earn a 55 per cent interest in the project from Arctic Star Exploration.

Almost 800 metres of drilling tested seven targets within the central part of the property near the up-ice termination of the South Coppermine Kimberlite Indicator Mineral (KIM) train. This particular KIM train is one of the last well-defined but unsourced trains within Lac de Gras. The targets included various combinations of gravity, magnetic, and electro-magnetic geophysical surveys from both detailed data compilation and of new airborne and ground geophysical surveys.

The challenge
None of the drill holes definitively encountered a bedrock kimberlite source for the South Coppermine KIM train. Drill hole 14-RED23-08 tested a linear gravity low and encountered predominantly fresh to weakly altered granite that included a moderately to strongly fractured fault zone from 89.9 metres to 99.7 metres down-hole. This fault zone contained intervals of dull green clay fault gouge which have been collected for KIM analyses, but North Arrow believes the source of kimberlite indicator minerals at Redemption remains an unanswered question.

The property still hosts a number of lake-based geophysical targets that could not be tested as part of the current drilling program, therefore the company will continue to evaluate the comprehensive project exploration database, including information on surficial geology and an evaluation of the geophysical data sets for the identification of more subtle, and perhaps linear structural kimberlite targets.

North Arrow is exploring Redemption under an option agreement with Arctic Star, whereby it can earn a 55 per cent interest by incurring $5 million in exploration expenditures prior to July 1, 2017.

15 - helicopter sunsetArctic Star has assembled a board of its own that is highly experienced in exploration and investment. Vice-president of exploration Buddy Doyle led the team that discovered the $14 billion in situ Diavik mine, while another Director, John Buckle, was also instrumental in discovering Ekati.

A follow-up drilling program is still required to test remaining top priority ice-based targets that could not be drilled from land. President and CEO Ken Armstrong comments, “our plans for the future are uncertain right now. We still need to find the source of the South Coppermine indicator mineral train, but when and what targets we will be focusing on is still to be determined. A 2015 winter drilling program is under consideration, but plans will not be concrete until we prioritise the existing targets and define new ones based on what we have learned from the recent drilling campaign.”

Other projects
North Arrow is also the operator of the Pikoo Diamond Project in east central Saskatchewan where it has an 80 per cent interest with JV partner Stornoway Diamond Corporation. The discovery of kimberlite at the property last summer and the stellar diamond results that followed in November triggered a staking rush in this new Canadian diamond district. North Arrow is currently working towards a much anticipated follow-up winter drill program for early 2015.

The company’s flagship project is the advanced stage Qilalugaq Project near Repulse Bay in Nunavut where a 1,500 tonne sample of the large tonnage Q1-4 kimberlite has been extracted and will undergo processing to recover around 500 carats of diamonds this fall in order to obtain a preliminary understanding of the value of the stones.


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February 23, 2015

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