ARCTIC STAR REPORTS SPRING EXPLORATION PROGRAM RESULTS FROM DIAGRAS PROPERTY, NORTHWEST TERRITORIES, CANADA
Momentum Public Relations
Press Release: July 31 2018
Arctic Star Exploration Corp.(ADD:V) has provided an update on the outcome of its 2018 spring exploration program on its Diagras property (located in the Northwest Territories, Canada). Diagras is a contributing joint venture between Arctic Star, which holds a 40-per-cent interest, and Margaret Lake Diamonds Inc., which holds a 60-per-cent interest, and acts as project operator.
Diagras property
Exploration at Diagras consisted of gravity, magnetic and electromagnetic (EM) ground surveys focused around historically identified kimberlites as well as other airborne geophysical anomalies with kimberlite-like signatures. This groundwork is designed to develop targets for a spring 2019 drill program.
Diagras is located in the prolific Lac de Gras diamond field just 35 kilometres from the world-class Diavik diamond mine. The property lies directly on trend with the Diavik deposits currently being mined by a joint venture between Rio Tinto and Dominion Diamond Diavik. The Diagras land package consists of 18,699 contiguous hectares of mineral claims containing 12 previously identified kimberlites.
Fieldwork was completed by Aurora Geosciences Ltd. (AGL) and Initial Exploration Services Inc. (IES) between May 27 and June 6, 2018. The surveys targeted kimberlite intrusions and were designed to investigate areas proximal to known kimberlites as well as explore new target areas. Warm temperatures during the time of the surveys caused a rapid snowmelt and flooding of the ice-covered lakes. The conditions forced a premature end to the program leaving some of the planned target areas untested. This work is planned to be completed in 2019.
A total of 133 gravity stations, 152 line kilometres of magnetics and 11.2 line kilometres of OhmMapper survey were completed.
Drill targets identified
Of the surveys conducted this year, DG007, HL02 and Suzanne have emerged as interesting, drillable targets, showing evidence of multiphase kimberlite complexes.
At Suzanne, a combined EM and gravity anomaly distinctly breaks a diabase dike, with a separate magnetic low to the south. The company has not located the previous drill holes, but it is likely they targeted either the EM or the magnetic anomaly, but not both. The anomaly is large enough (250 m) to deserve more than one drill hole to search for different phases.
At HL02, two long-angle holes from the shoreline (the anomaly is in a lake) were targeted and completed within this kimberlite by the previous explorers. The magnetic signature in this area is complex, suggesting the possibility of untested phases. The partly completed EM survey conducted this year shows an EM anomaly associated with the kimberlite but not tested directly by previous drilling.
At the DG007 anomaly, previous explorers targeted a classic Lac de Gras, magnetic and EM anomaly. Two holes were drilled but failed to explain this anomaly, intersecting only granite. One of the drill collars has been found in the field and its position is displaced from that reported in assessment files, possibly due to GPS (global positioning system) errors. Drilling to properly explain this target, which the company believes is likely to be kimberlite, is required.
The joint venture was also successful using this strategy during the spring 2017 exploration program. This work revealed gravity and EM anomalies proximal to known magnetic kimberlites that constitute compelling drill targets. At the Jack Pine kimberlite, which is one of the largest kimberlite complexes in the Lac de Gras diamond field (over 1.5 km in its longest dimension), the geophysical methods (ground gravity, EM and magnetics) highlighted obvious magnetic kimberlite phases drilled by previous explorer De Beers Canada while also successfully defining a new kimberlite-like geophysical expression, in the form of coincident gravity and EM anomalies. At the Black Spruce kimberlite, a series of gravity lows occur adjacent to the south of the known magnetic phase of the kimberlite. One of these gravity anomalies clearly breaks and disturbs a diabase dike, a common characteristic of many Lac de Gras kimberlites.
The company now has drill targets with high potential to discover new kimberlite or untested kimberlite phases in one of the best diamond addresses in the world, close to the operating Ekati and Diavik diamond mines.
Future plans Diagras project
The company plans to drill test the referenced targets as well as generate more targets through an expanded ground geophysical and drill program in spring 2019.
Qualified person
The qualified person for this news release is Buddy Doyle, AUSIMM, a geologist of over 30 years experience in diamond exploration, discovery and evaluation.
About Arctic Star Exploration Corp.
The company owns 100 per cent of the recently acquired Timantti diamond project, including a 243-hectare exploration permit and a 193,700-hectare exploration reservation near the town of Kuusamo, in Finland. The project is located approximately 550 kilometres southwest of the operating Grib diamond mine in Russia. Arctic has commenced its exploration in Finland on the Timantti project, where four diamondiferous kimberlite bodies may represent the first finds in a large kimberlite field. The company also controls diamond exploration properties in Nunavut (Stein), the Northwest Territories (Diagras and Redemption) and a rare metals project in British Columbia (Cap).
We seek Safe Harbor.
- Published in Arctic Star Exploration
Arctic Star Reports Positive Results in Finland: Best Diamond Results Found in Finland
Momentum Public Relations
Blog: June 4 2018
Diamonds Are Forever
Arctic Star Reports Positive Results in Finland: Best Diamond Results Found in Finland
Monster Diamonds found by Lucara
The surprising thing about diamonds is that people pay so much for them. The price was controlled for a very long time by De Beers which prevented too many diamonds from hitting the market at the same time to keep the price up.
De Beers also controlled diamond marketing and so is also responsible for that ubiquitous slogan, Diamonds are Forever.
The value of diamonds benefits from a superb marketing effort that has lasted for generations and convinced much of the global middle and upper classes that diamonds are the only way to express your love.
And then there is the lasting effect of Marilyn Munro singing “Diamonds Are a Girl’s Best Friend,” in the movie version of Gentlemen Prefer Blondes.
For something which is really only valuable as an industrial cutting tool, diamonds have secured an emotional value that has captured and held the imagination for a very long time. Diamonds show no indication of losing the monetary value associated with them.
Over the recent past the diamond market has been in a bit of a doldrum as millennials with cash to burn look to other luxury items. This will probably become just a market blip lasting as long as it takes the marketing machine to get revved up again. Then again, that may not be necessary. In a January 8, 2018 report the CBC quoted diamond analyst Paul Zimnisky predicting that the price of rough diamonds will increase by as much as four percent this year.
Unlike copper, gold or silver which regularly go in and out of high demand and high value cycles, as a commodity diamonds just appear to sit there looking pretty with an almost constant value, going up or down in cost in the low single digits.
This year, 2018, may just go down in the history books as the monster year of enormous diamond finds. On April 26, 2018 Bloomberg News reported in a headline: Another Week and Another Huge Diamond Is Found in Botswana.
The story reports that Lucara Diamond has just discovered a 327 carat white diamond at its mine in Botswana, hard on the heels of discovering a 427 carat light brown one. In comparison, most diamonds used in jewelry are in the one to two carat range.
Last year, Lucara sold a 1,109 carat diamond, the second biggest so far discovered for US$53 million. Last year Lucara also sold an 813 carat diamond for US$63 million. Lucara is not alone. Gem Diamonds Ltd. discovered a 910 carat diamond in Lesotho this year that it has already sold for US$40 million.
Along their way to the marriage ceremony or engagement party diamonds took a detour when they became the preferred way of financing murder and mayhem in Africa. This stigma has been done away with by the development and continuing exploration of diamond fields in Canada and Russia.
If matters pan out those productive diamond fields will soon be joined by the Timantti Diamond Project in Finland. Canadian junior Arctic Star Exploration has assembled a dream team of diamond finders who believe that the diamond rich Russian pipes extend into Finland and recent exploration results back up this theory.
There is a certain amount of wisdom in adages and folk sayings. In mining there is the one that goes, “The best place to find a gold mine is next to a gold mine.” This can be followed up by saying that the best person to find a diamond mine is someone who has found one before. Arctic Star’s exploration team is run by two of the most experienced diamond finders now working. Among other discoveries Buddy Doyle found the Diavik diamond mine in Northern Canada and Roy Spencer discovered the Grib diamond mine in Russsia. Both are multi-billion dollar mines.
In an April 16, 2018 press release Arctic Star’s Vice-President of Exploration Buddy Doyle said, “We are greatly encouraged by the results, to date. So far every kimberlite we have discovered on the Timantti property has proven to be diamondiferous. We are particular pleased by the results from the Wolves, as demonstrated from table 3, these are the best diamond results to date ever reported from Finland, at least at this initial discovery phase. We look forward to adding to this as the diamond results from our drilling become available.”
Arctic Star has a 100% interest in the 243 hectare Timantti property and exclusive exploration rights for two years on a further 95,700 hectares. The Finnish property is in the same geological belt as both the Russian multi-billion dollar Grib and Lomonsov diamond mines. The company is well financed and just finished an over-subscribed private placement for more than a million dollars.
To further pique your interest in Arctic Star, the company is far from being a one trick pony. It has three more highly prospective diamond projects in the Canadian north, the Diagras project, a joint venture with Margaret Lake, located close to and in the same geological formations as the multi-billion dollar Diavik diamond mine, the 100% owned Stein Diamond Project which has six drill ready targets and Redemption, which is close to the two major discoveries, Ekati and Diavik, that sparked the Canadian diamond exploration rush.
Just for variety, along with its four diamond projects Arctic Star also has a rare earth elements project in British Columbia called Cap. One way or another the odds appear stacked in Arctic Star’s favour.
- Published in Arctic Star Exploration, Blog
Arctic Star Announces Commencement of Exploration at Diagras Property, Northwest Territories, Canada and Private Placement
Momentum Public Relations
Press Release: May 30 2018
Arctic Star Exploration Corp (TSXV: ADD) (OTCQB: ASDZF) (FSE: 82A1) (“Arctic Star” or the “Company”) is pleased to report that exploration has commenced on its Diagras Property (“Diagras” or the “Property”) located in the Northwest Territories, Canada. Diagras is a contributing Joint Venture (the “Joint Venture”) between Arctic Star, which holds a 40% interest, and Margaret Lake Diamonds Inc. which holds a 60% interest, and acts as project operator.
The exploration program will consist of Gravity, Magnetic and Electromagnetic (EM) ground surveys focused around historically identified kimberlites as well as other airborne geophysical anomalies with kimberlite like signatures. This ground work will provide detailed data for further analysis and interpretation to identify additional kimberlite potential and targets.
Diagras is located in the prolific Lac de Gras diamond field, Northwest Territories, Canada and just 35 km from the world-class Diavik diamond mine. The Property lies directly on trend with the Diavik deposits currently being mined by a joint venture between Rio Tinto and Dominion Diamond Diavik. The Diagras land package consists of 18,699 contiguous hectares of mineral claims containing 12 previously identified kimberlites.
Diagras Land Package within Lac de Gras Diamond Field
To view an enhanced version of the Diagras Land Package within Lac de Gras Diamond Field, please visit: [http://orders.newsfilecorp.com/files/4806/34925_a1527685801637_98.jpg]
Detailed, modern ground geophysical techniques are being employed to define possible additional kimberlite(s) or kimberlite phases missed by previous explorer De Beers Canada, who did not utilize all these techniques. This exploration approach has been successful elsewhere and recent examples include the discoveries of additional diamondiferous kimberlite at the Kelvin and Faraday kimberlite complex (Kennady North project). A second example that further validates the exploration premise is the Tli-Kwi-Cho DO 27, DO18 kimberlite complex also located in the Lac de Gras diamond field. It comprises multiple eruptive/intrusive events of kimberlite, each of a different style and with different geophysical expressions (Mag only, Mag and EM, Gravity, EM and Gravity).
2017 Exploration Program
The Joint Venture was also successful using this strategy during the spring 2017 exploration program. This work revealed gravity and EM anomalies proximal to known magnetic kimberlites that constitute compelling drill targets. At the Jack Pine kimberlite, which is one of the largest kimberlite complexes in the Lac de Gras diamond field (over 1.5km in its longest dimension), the geophysical methods (ground gravity, EM and magnetics) highlighted obvious magnetic kimberlite phases drilled by previous explorer De Beers Canada while also successfully defining a new kimberlite-like geophysical expression. This area remains to be drill tested. Previous drilling elsewhere in the Jack Pine kimberlite complex has demonstrated it is diamond bearing. Targets of great interest were also generated in 2017 at the Black Spruce kimberlite. A series of gravity lows occur adjacent to the south of the known magnetic phase of the kimberlite. One of these gravity anomalies clearly breaks and disturbs a diabase dyke, a characteristic similar to known Lac de Gras kimberlites.
Private Placement
Additionally, Arctic Star is pleased to announce a non-brokered private placement (the “Private Placement”) of 1,130,000 units (the “Units”) at a price of $0.17 per Unit, for gross proceeds of $192,100. Each Unit will be comprised of one common share in the capital of the Company (each, a “Share”) and one non-transferable share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share in the capital of the Company (each, a “Warrant Share”) for a period of 24 months from the closing date at an exercise price of $0.25.
All securities will be subject to a four-month hold period from the closing date. The Private Placement is subject to TSX Venture Exchange (“TSXV”) approval.
The Company intends to use the proceeds from the Private Placement for exploration on the Timantti and Diagras Diamond Projects and for general working capital.
Qualified Person
The Qualified Person for this news release is Buddy Doyle, AUSIMM, a Geologist of over 30 years’ experience in diamond exploration, discovery and evaluation.
About Arctic Star
The Company owns 100% of the recently acquired Timantti Diamond Project including a 243 Ha Exploration Permit and a 95,700 Ha Exploration Reservation near the town of Kuusamo, in Finland. The project is located approximately 550km SW of the operating Grib Diamond Mine in Russia. Arctic has commenced its exploration in Finland on the Timantti Project, where four diamondiferous kimberlite bodies may represent the first finds in a large kimberlite field. The Company also controls diamond exploration properties in Nunavut (Stein), the NWT (Diagras and Redemption) and a rare metals project in BC (Cap).
Arctic Star has a highly experienced diamond exploration team previously responsible for several world class diamond discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAR EXPLORATION CORP.
Scott Eldridge, President & CEO
+1 (604) 722-5381
scott@arcticstar.ca
Patrick Power, Executive Chairman
+1 (604) 218-8772
- Published in Arctic Star Exploration
Arctic Star Announces 100% Increase to Land Position, Timantti Project, Finland
Momentum Public Relations
Press Release: May 10 2018
Arctic Star Exploration Corp. (TSXV: ADD) (OTCQB: ASDZF) (FSE: 82A1) (“Arctic Star” or the “Company”) is pleased to announce that it has increased its land position by 100% on the Timantti Diamond Project in Finland (the “Project”). The Project now comprises a total of 193,700 Ha under an Exploration Reservation, representing a district scale land package that is 100% owned with no underlying royalties.
Highlights:
- The Timantti Diamond Project has increased by 98,000 Ha, for a total land package of 193,700 Ha.
- The new Exploration Reservation package extends the pre-existing land package to the south where previous work has discovered at least one kimberlite body.
- The new Exploration Reservation was acquired directly from the Finish Mining Authority at an approximate acquisition cost of $3,750 CDN plus associated legal costs.
- The Company has applied for and anticipates it will receive an Exploration Permit in short order for the new ground to thus begin exploration activity this summer.
+1 (604) 218-8772
- Published in Arctic Star Exploration
Arctic Star Announces Diamonds Recovered from the New Kimberlite Discoveries, Timantti Project, Finland
Momenum Public Relations
Press Release:April 16 2018
Arctic Star Exploration Corp. (TSXV: ADD) (OTCQB: ASDZF) (FSE: 82A1) (“Arctic Star” or the “Company”) is pleased to announce that it has received diamond results from caustic fusion analyses on the recent kimberlite discoveries within the 100% owned Timantti Diamond Project in Finland (the “Project”), namely the Grey Wolf kimberlite and the Vasa Dykes. Both kimberlitic bodies were discovered by excavator, and these first results are from samples within the discovery pits. In addition, the Company is awaiting caustic fusion analyses results from its diamond drill program.
The results are shown in Table 1, together with the previous caustic fusion results reported by Arctic Star as per the July 26, 2017 news release. The White Wolf and Grey Wolf results are also shown as a combined total as the 2 kimberlitic bodies occur in close proximity.
Table 1: Caustic Fusion Results Timantti Project
Kimberlite | Sample Weight (Kg1,2,3) |
+0.106 mm |
+0.15 mm |
+0.212 mm |
+0.3 mm |
+0.425 mm |
+.60 mm |
+.85 mm |
+1.18 mm |
Total Stones |
Grey Wolf | 99.98 | 28 | 18 | 20 | 8 | 1 | 2 | 0 | 1 | 76 |
Vasa Dykes | 25.74 | 1 | 5 | 5 | 0 | 0 | 0 | 0 | 0 | 11 |
White Wolf | 67.55 | 70 | 61 | 24 | 15 | 3 | 5 | 0 | 1 | 169 |
Total Wolves | 167.53 | 98 | 79 | 44 | 23 | 4 | 7 | 0 | 2 | 245 |
Notes:
1. Samples processed at Microlithics Laboratories Inc., of Thunder Bay, ON (“Microlithics”). Microlithics is independent of the issuer
2. Dry weights
3. The samples followed a chain of custody and were received sealed at the laboratory
4. Diamond results as per CIM guidelines
In general, diamondiferous kimberlites show an exponential relationship between the size and frequency of small diamonds and larger diamonds. Microdiamond counts can thus be used as a semi-quantitative, predictive guide to diamond grade. The higher the diamond count and the more larger diamonds present in a sample, the higher the expected grades for a particular kimberlite. The accuracy and reliability of this grade estimation method increases with the size (weight) of the sample and the numbers of stones.
Arctic Star’s goal at this early stage of the evaluation of the Timantti kimberlites is to gather and process enough caustic fusion sample to give guidance on the grade of each discovery.
For comparison purposes and to understand the significance of these discoveries, the Company has compiled published caustic fusion micro-diamond results from other kimberlites located elsewhere in Finland and recent discoveries Canada.
Table 2: Recent Micro-Diamond Results Comparison
Kimberlite | Sample Weight (Kg) |
+0.106 mm |
+0.15 mm |
+0.212 mm |
+0.3 mm |
+0.425 mm |
+.60 mm |
+.85 mm |
+1.18 mm |
+1.70
mm
|
Total
Stones
|
Rabbits Foot1 | 99.75 | 81 | 40 | 16 | 13 | 5 | 1 | 0 | 0 | 0 | 156 |
Pikoo (150)2 | 582 | 618 | 348 | 150 | 82 | 45 | 32 | 29 | 2 | 2 | 11 |
Seitapeira3 | 100.2 | 28 | 28 | 4 | 7 | 0 | 0 | 0 | 0 | 0 | 67 |
No. 21 Kimberlite4 | 287 | – | 87 | 55 | 29 | 10 | 4 | 0 | 0 | 0 | 185 |
Lahtojoki5 | 1771.17 | – | 410 | 326 | 208 | 102 | 27 | 13 | 7 | 1 | 1096 |
Total Wolves | 167.53 | 98 | 79 | 44 | 23 | 4 | 7 | 0 | 2 | 0 | 245 |
Sources:
1. Rio Tinto Diamonds Exploration Ltd. Assessment Report 2015 Oskabukuta Property near White River, Ontario. Rio Tinto Thunder Bay laboratories
2. North Arrow Minerals website. Saskatchewan Pikoo kimberlite discoveries
3. A kimberlite near Kuhmo, Finland, Karelian Diamond July 2008 NR, Lakefield Laboratories
4. Nordic Diamonds News Release 2002, Koupio Kaavi Kimberlite Field Finland
5. European Diamonds 2004 Koupio Kaavi Kimberlite Field Finland
Table 3: Comparison Caustic Fusion Results Normalize to 100kg Including Ratio of Larger Macro to Smaller Micro Diamonds
Kimberlite | +0.15 mm |
+0.212 mm |
+0.3 mm |
+0.425 mm |
+.60 mm |
+.85 mm |
+1.18 mm |
+1.70 mm |
St/100kg | Ratio >.6/>.425mm |
Rabbits Foot | 40 | 16 | 13 | 5 | 1 | 0 | 0 | 0 | 75 | 0.01 |
Pikoo (150) | 60 | 26 | 14 | 1 | 5 | 5 | 0.3 | 0.3 | 111 | 0.1 |
Seitapeira | 28 | 4 | 7 | 0 | 0 | 0 | 0 | 0 | 67 | – |
No. 21 Kimberlite | 30 | 19 | 10 | 3 | 1 | 0 | 0 | 0 | 63 | 0.01 |
Lahtojoki | 23 | 18 | 12 | 5.7 | 1.5 | 0.73 | 0.39 | 0.056 | 62 | 0.045 |
Total Wolves | 47 | 26 | 14 | 2 | 4.2 | 0 | 1.19 | 0 | 94 | 0.06 |
Note: To date about 30 kimberlites have been discovered in the country of Finland by previous workers, from three main kimberlite fields, Lenturia, Kuhmo and Koupio Kaavi, most discoveries where from the Koupio Kaavi field near Outokumpo, 250km to the SW of Kuusamo where more than 20 separate bodies were found, the most diamondiferous examples from this field are Lahtojoki and 21# shown in table 2 and 3. A result from another field around the town of Kumho is shown from the Seitapeira Kimberlite, 200km to the south of Kuusamo.
Buddy Doyle, VP of Exploration stated, “We are greatly encouraged by the results, to date. So far every kimberlite we have discovered on the Timantti property has proven to be diamondiferous. We are particular pleased by the results from the Wolves, as demonstrated from table 3, these are the best diamond results to date ever reported from Finland, at least at this initial discovery phase. We look forward to adding to this as the diamond results from our drilling become available.”
The Qualified Person for this news release is Buddy Doyle, AUSIMM, a Geologist of over 30 years’ experience in diamond exploration, discovery and evaluation.
About Arctic Star
The Company owns 100% of the recently acquired Timantti Diamond Project including a 243 Ha Exploration Permit and a 95,700 Ha Exploration Reservation near the township of Kuusamo, in Finland. The project is located approximately 550km SW of the operating Grib Diamond Mine in Russia. Arctic has commenced its exploration in Finland on the Timantti Project, where four diamondiferous kimberlite bodies may represent the first discoveries in a large kimberlite field. The Company also controls diamond exploration properties in Nunavut (Stein), the NWT (Diagras and Redemption) and a rare metals project in BC (Cap).
Arctic Star has a highly experienced diamond exploration team previously responsible for several world class diamond discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAR EXPLORATION CORP.
Scott Eldridge, President & CEO
+1 (604) 722-5381
scott@arcticstar.ca
Patrick Power, Executive Chairman
+1 (604) 218-8772
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
This news release includes certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the Company’s strategic plans, future operations, future work programs and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The diamond results reported here are first pass exploration results and although they encourage further study they do not constitute an “economic” discovery at this time. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
- Published in Arctic Star Exploration
Arctic Star Drills Grey Wolf Kimerlite Discovery, Timantti Diamond Project, Finland
Momentum Public Relations
Press Release: March 26 2018
Arctic Star Exploration Corp (TSXV: ADD) (OTCQB: ASDZF) (FSE: 82A1) (“Arctic” or the “Company”) is pleased to announce that 5 drill holes have been completed at the new kimberlite discovery, called Grey Wolf, on its 100% owned Timantti Diamond Project in Finland (the “Project”). Highlights of the drilling include:
- All 5 holes intersected kimberlite.
- Longest intercept in this drill program was 45m.
- Grey Wolf is part of an east-west 300m long chain of kimberlite open in both directions.
- Core to be sampled for diamonds.
The discovery is in close proximity to the other Wolf kimberlites in the Project area. Split core samples will be sent for caustic fusion for diamonds and diamond indicator minerals.
The following table summarizes the drill intercepts on the Grey Wolf kimberlite discovery:
Hole No. | Easting (m) |
Northing (m) |
Bearing/Dip (degrees) |
Total Depth |
From (m) |
To (m) |
Width (m) |
Description |
GW-001 | 4470715 | 7335710 | 15/45 | 21.7 | 3.5 | 15.5 | 12.0 | Kimberlite |
GW-002 | 4470715 | 7335710 | 105/45 | 42.0 | 3.0 | 38.2 | 35.2 | Kimberlite |
GW-003 | 4470715 | 7335710 | 195/45 | 20.5 | 3.5 | 15.3 | 11.8 | Kimberlite |
GW-004 | 4470715 | 7335710 | 310/45 | 17.5 | 4.4 | 9.9 | 5.5 | Kimberlite |
GW-005 | 4470715 | 7335710 | 105/80 | 47.5 | 2.0 | 47.5 | 45.5 | Kimberlite |
Note: Co-ordinates use the KKJ system. Core diameter is 64.4mm. Maximum true widths will be approximately 70% of the drill intercepts reported if the kimberlite walls are vertical and perpendicular. The Country Rock consisted of quartzites, and greenstones, with occasional quartzite xenoliths in the kimberlite up to 1m diameter.
Visual observation of the core confirms that it contains kimberlitic indicator minerals that demonstrate that the kimberlite sampled the mantle.
As per the February 20, 2018 new release, the Grey Wolf kimberlite was discovered by excavator whilst collecting a basal till sample from the center of a 120m diameter gravity low as determined by our recently completed ground geophysical program. The drill rig was located near one of the discovery pits and commenced drilling angle holes, in the direction of the cardinal points of the compass (north–south, east–west) plus 15 degrees. The final hole was vertical. All entered kimberlite beneath a 3-4m till cover (down hole).
From the present drilling, the Grey Wolf kimberlite seems to be a 20-30m wide body on the same east-west trend as the other Wolf kimberlites to the east, and the D476 dyke to the west. The entire Wolf Pack group of kimberlites: White, Black, Grey and D476 now extend for approximately 300m. Further drilling will be required to understand the geometry and size of these bodies. There are further magnetic, EM and gravity anomalies along the same east-west trend further to the east and the west that will make interesting future drill targets.
The drill rig has now moved to the White and Black Wolf kimberlites to obtain more sample for caustic fusion micro-diamond analysis and to gain further understanding of their size and shape.
The Qualified Person for this news release is Roy Spencer, Fellow AUSIMM, a Geologist of over thirty years’ experience in diamonds.
About Arctic Star
The Company owns 100% of the recently acquired Timantti Diamond Project including a 243 Ha Exploration Permit and a 95,700 Ha Exploration Reservation near the township of Kuusamo, in Finland. The project is located approximately 550km SW of the operating Grib Diamond Mine in Russia. Arctic has commenced its exploration in Finland on the Timantti Project, where four diamondiferous kimberlite bodies may represent the first discoveries in a large kimberlite field. The Company also controls diamond exploration properties in Nunavut (Stein), the NWT (Diagras and Redemption) and a rare metals project in BC (Cap).
Arctic Star has a highly experienced diamond exploration team previously responsible for several world class diamond discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAR EXPLORATION CORP.
Scott Eldridge, President & CEO
+1 (604) 722-5381
scott@arcticstar.ca
Patrick Power, Executive Chairman
+1 (604) 218-8772
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: Certain statements in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release include that the Timantti Project transaction is a pre-eminent opportunity.
- Published in Arctic Star Exploration
Arctic Star Announces Management and Board Changes
Momentum Public Relations
Press Release: November 21, 2017
Vancouver, British Columbia–(Newsfile Corp. – November 21, 2017) – Arctic Star Exploration Corp. (TSXV: ADD) (FSE: 82A1) (WKN: A2DFY5) (“Arctic Star” or the “Company”) is pleased to announce the appointment of Director Scott Eldridge to the position of President and Chief Executive Officer, Patrick Power to the position of Executive Chairman, and Jared Lazerson as a Director.
Patrick Power, Arctic Executive Chairman stated, “We are pleased to appoint Scott Eldridge as President and CEO. His financial acumen and extensive network of European investors fit well with the European based and newly acquired Timantti Diamond Project in Finland.” Mr. Power added, “As well we are excited with the addition of Jared Lazerson to Arctic’s Board of Directors, his market, technology and industrial mineral mining experience are a welcome addition to the Board. The momentum he has created with the recent development of MGX Minerals is particularly relevant as we advance Arctic’s newest diamond exploration property.”
Mr. Eldridge has over 10 years of experience in finance and general management in the mining sector. He has a B.B.A. from Capilano University, and an M.B.A. from Central European University. He co-founded Euroscandic International Group Inc., a private company offering investment banking and advisory services to natural resource companies where he served as President and CEO from 2008 to 2016. During his time in the industry he has been responsible for raising in excess of $500 million CAD in combined equity and debt financing for mining projects varying from exploration to construction financing around the globe. He has held several directorships and executive roles with both private and public companies.
Mr. Lazerson is CEO and Director of lithium and magnesium miner MGX Minerals (CSE:XMG). For the past 5 years, Mr. Lazerson, has seen the market capitalization grow from $2 million CAD to a current value of $100 million CAD and a 2017 high of over $200 million CAD. Mr. Lazerson has been responsible for all aspects of growth of MGX including acquisitions, financing, operations and technology development. MGX Minerals has developed some of the most advanced and low-cost technology in the world for lithium extraction from brine by eliminating the solar evaporation step, thus reducing processing time from 2 years to 1 day. Mr. Lazerson holds a B.A. in International Relations from the University of Pennsylvania.
The Company has granted an aggregate of 5,275,000 stock options to its directors, officers, employees and consultants for the purchase of up to 5,27500,000 common shares of the Company pursuant to its Stock Option Plan. Each option is exercisable for a period of 5 years at a price of $0.175 per common share.
About Arctic Star: The Company owns 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the recently acquired Timantti Diamond Project including a 243Ha Exploration Permit and a 95,700 Ha Exploration Reservation near the township of Kuusamo, in Finland. The project is located approximately 450km NW of the operating Grib Diamond Mine in Russia. Arctic is commencing its exploration in Finland on the Timantti Project, where two diamondiferous kimberlites may represent the first finds in a large field. The Company also controls diamond exploration properties in Nunavut (Stein), the NWT (Diagras and Redemption) and a rare metals project in BC (Cap). Arctic Star has a highly experienced diamond exploration team previously responsible for numerous world class diamond discoveries.
For further information: please visit www.arcticstar.ca
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.
“Patrick Power”
Patrick Power, Executive Chairman
+1 (604) 689-1799
Scott Eldridge, President & CEO
+1 (604) 722-5381
scott@arcticstar.ca
- Published in Arctic Star Exploration, News Home
German Geologist Discovers A Rare Carbonatite
German Geologist Discovers A Rare Carbonatite
By Stephan Bogner, Rockstone Research
Today, Arctic Star Exploration Corp. made a striking announcement of having discovered a carbonatite complex at its 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned CAP Property in British Columbia, Canada.
The company started a maiden drill program in mid-July and 1 of the 4 holes intersected carbonatite. Assays are pending and expected shortly, potentially confirming the presence of niobium within the carbonatite. Arctic’s consultant, Jody Dahrouge (P.Geo.) of Dahrouge Geological Consulting Ltd., commented in today’s news:
“We are extremely grateful to be part of the group which conceptualized and discovered this hitherto unknown carbonatite-syenite complex. Carbonatite is an extremely rare rock type with only around 550 complexes identified worldwide. In addition to their rarity, they are also well-known for being the source of production for a plethora of commodities, including being the dominate source for niobium and rare earth elements (REEs). The potential rewards associated with a new discovery such as at CAP cannot be overstated.”
Geologist Patrik Schmidt at work in the field (source: Arctic Star Exploration):
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Patrik-Schmidt.png
Arctic Star Exploration Corp. staked the CAP Property in 2010 based on a magnetic anomaly from government surveys. The company thought it could be a carbonatite given its size, shape and location within a quite magnetic background of mostly sedimentary rocks. Subsequent work found thin syenite dykes, which they believed to be related to a carbonatite complex.
Back then, these dykes were sampled and contained highly anomalous geochemistry (indicative of a large and higher grade carbonatite deposit below surface), including 0.48-0.98{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Nb2O5, 1.13-3.19{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zirconium, >0.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} lanthanum, >0.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cerium and >0.05{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} neodymium. On July 18, 2017, Arctic started a maiden drill program.
I just called management for a short interview and was informed that the interpretation of a carbonatite complex on the property now proved true when a German geologist, Patrik Schmidt who works for Dahrouge, started prospecting around the northern-most drill pad and found a carbonatite outcropping in a creek bed.
They then reorientated drill hole #4 to hit the carbonatite and the pictures of the core speak for themselves. A 77 m long intersection showed carbonatite with a diverse mineral assemblage. Assays are pending and may soon make the discovery of a niobium enriched carbonatite deposit official. Recent work on the property focused on a 3,000 x 1,000 m area, where previous geophysics and rock-soil samples outlined a distinct anomaly. Most recently, 4 holes were completed along with prospecting, mapping and sampling. Highlights include:
• Carbonatite and/or alkaline rock types intersected in 2 of 4 drill holes,
• an approximate 90 m mapped strike-length of carbonatite in outcrop with apparent estimated thickness of >50 m; and
• the discovery of numerous additional outcrops of carbonatite, and related rocks, across an area measuring approximately 800 x 200 m.
The most significant drill hole to date (CAP17-004 with an orientation of 163°/-55°) intersected:
• 53-75 m: calcite carbonatite, fenite, syenite, country rock
• 75-152 m: carbonatite (variable composition; see below pictures)
• 152-219 m: syenite and fenite; EOH (“End of Hole“).
The true thickness of these intersections is uncertain at this time. The company cautions, that although a diverse mineral assemblage is present throughout the core, it is too early to determine if any metals or minerals may be present in significant concentrations. Samples are currently being collected and are expected to arrive at the lab shortly.
Core pictures of recently completed drill hole CAP17-004 showing a carbonatite with diverse mineral assemblage. Soon, assays will make clear determination of the encountered mineralization (Source: Arctic Star Exploration):
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Core-1.png
image: http://www.stockhouse.com/media/news-images/Independent-Reports/Core-2.png
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Core-3.png
Core picture of recently completed drill hole CAP17-004 potentially showing Lower Syenite (Source: Arctic Star Exploration):
image: http://www.stockhouse.com/media/news-images/trending/Core-4.png
Outcropping carbonatite in a creek bed recently discovered by Patrik Schmidt during prospecting (Source: Arctic Star Exploration):
image: http://www.stockhouse.com/media/news-images/trending/Core-5.png
Full version
Recent drilling confirmed a carbonatite complex on the CAP Property (Source: Arctic Star Exploration):
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Core-6.png
For more information on the CAP Property, the Rocky Mountain Rare Metal Belt in British Columbia, globally significant niobium deposits, the booming niobium market with rapidly growing demand and recent niobium transactions, see Rockstone
Report #3.
About Carbonatite Deposits
Carbonatite is a type of intrusive or extrusive igneous rock defined by mineralogic composition consisting of greater than 50{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} carbonate minerals. Carbonatites are rare, peculiar igneous rocks formed by unusual processes and from unusual source rocks. (Source)
Mineralized carbonatite systems have been mined for and/or are potential sources for commodities such as REE’s, niobium, tantalum, copper, nickel, iron, titanium, zirconium, platinum group elements (PGEs), gold, fluorspar, lime, sodalite, and vermiculite. Strong demand growth, stemming in part from a number of green energy solutions, has placed upward price pressure on a number of those commodities associated with carbonatites. Some of the more notable active and past producing carbonatite deposits known worldwide include Palabora (Cu, Ni, Au, PGE’s, other), South Africa; Bayon Obo (REE’s, Fe, Nb, fluorspar), China; Araxa (Nb), Brazil; Cargill (Phosphate), Canada; Niobec (Nb), Canada; Mountain Pass (REE’s), United States; and Mount Weld (REE’s), Australia.
Schematic cross-section of a carbonatite complex (source):
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Natro-red.png
Economic Importance of Carbonatite Deposits
Carbonatites may contain economic or anomalous concentrations of rare earth elements, phosphorus, niobium-tantalum, uranium, thorium, copper, iron, titanium, vanadium, barium, fluorine, zirconium, and other rare or incompatible elements. Apatite, barite and vermiculite are among the industrially important minerals associated with some carbonatites. Vein deposits of thorium, fluorite, or rare earth elements may be associated with carbonatites, and may be hosted internal to or within the metasomatized aureole of a carbonatite. As an example the Palabora complex of South Africa has produced significant copper (as chalcopyrite, bornite and chalcocite), apatite, vermiculte along with lesser magnetite, linnaeite (cobalt), baddeleyite (zirconium-hafnium), and by-product gold, silver, nickel and platinum. (Source)
Company Details
Arctic Star Exploration Corp.
1111 West Georgia Street
Vancouver, B.C. V6E 4M3, Canada
Phone: +1 604 689 1799
Email: info@arcticstar.ca
Shares Issued & Outstanding: 55,092,522
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Arctic-Star-Frankfurt.png
Canadian Symbol (TSX.V): ADD
Current Price: $0.195 CAD (08/04/2017)
Market Capitalization: $11 Million CAD
image: http://www.stockhouse.com/media/news-images/Independent-Reports/Arctic-Star-historic.png
German Symbol / WKN (Frankfurt): 82A1 / A2DFY5
Current Price: €0.117 EUR (08/08/2017)
Market Capitalization: €7 Million EUR
Read more at Stockhouse
- Published in Arctic Star Exploration, Blog, Mining, News Home
Arctic Star Discovers Carbonatite Complex at the Cap Property, BC
Arctic Star Discovers Carbonatite Complex at the Cap Property, BC
Momentum Public Relations
Press Release: August 8, 2017
Vancouver, British Columbia–(Newsfile Corp. – August 8, 2017) – Arctic Star Exploration Corp. (TSXV: ADD) (“Arctic Star” or the “Company”) is pleased to announce that it’s summer 2017 exploration program at it’s wholly owned CAP Property, located approximately 80 km northwest of Prince George, B.C., has resulted in the discovery of a new Carbonatite-Syenite Complex.
According to Jody Dahrouge, P.Geo. and President of Dahrouge Geological Consulting Ltd. (consultant to Arctic Star):
“We are extremely grateful to be part of the group which conceptualized and discovered this hitherto unknown carbonatite-syenite complex. Carbonatite is an extremely rare rock type with only around 550 complexes identified worldwide. In addition to their rarity, they are also well-known for being the source of production for a plethora of commodities, including being the dominate source for niobium and rare earth elements (REEs). The potential rewards associated with a new discovery such as at CAP cannot be overstated.”
Mineralized carbonatite systems have been mined for and/or are potential sources for commodities such as REE’s, niobium, tantalum, copper, nickel, iron, titanium, zirconium, platinum group elements (PGEs), gold, fluorspar, lime, sodalite, and vermiculite. Strong demand growth, stemming in part from a number of green energy solutions, has placed upward price pressure on a number of those commodities associated with carbonatites.
Some of the more notable active and past producing carbonatite deposits known worldwide include Palabora (Cu, Ni, Au, PGE’s, other), South Africa; Bayon Obo (REE’s, Fe, Nb, fluorspar), China; Araxa (Nb), Brazil; Cargill (Phosphate), Canada; Niobec (Nb), Canada; Mountain Pass (REE’s), United States; and Mount Weld (REE’s), Australia.
To date, exploration at CAP has focused on an approximate 3,000 by 1,000 metre area, which was highlighted by prior geophysical survey’s as well as a number of anomalous Nb-REE geochemical rock and soil samples. The 2017 work has included the completion of four drill holes, geologic mapping and sampling, and prospecting. Highlights include:
– | Carbonatite and/or alkaline rock types intersected in 2 of 4 drill holes, |
– | an approximate 90-m mapped strike-length of carbonatite in outcrop with apparent estimated thickness of >50 m; and |
– | the discovery of numerous additional outcrops of carbonatite, and related rocks, across an area measuring approximately 800 by 200 m. |
The most significant drill hole to date, CAP17-004 with an orientation of (163°/-55°) intersected:
– | 53 m to 75 m — Calcite Carbonatite, Fenite, Syenite, Country Rock |
– | 75 m to 152 m —Carbonatite (variable composition) |
– | 152 m to 219 m — Syenite and Fenite; EOH. |
The true thickness of these intersections is uncertain at this time.
The Company cautions, that although a diverse mineral assemblage is present throughout the core, it is too early to determine if any metals or minerals may be present in significant concentrations. Samples are currently being collected and are expected to arrive at the lab shortly.
Given the discovery of a new carbonatite complex at the CAP Property, the Company has staked an additional 15 claims totaling 7,657 hectares. The claims cover a north to northwest trending ridge which extends from CAP towards the Wicheeda REE Deposit, some 50 km to the northwest. The total Property now exceeds 10,482 hectares.
Further details will be released as they come available.
Jody Dahrouge, B.Sc, P.Geo., Dahrouge Geological Consulting Ltd., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
Figure 1: CAP17-004 – Carbonatite
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Figure 2: CAP17-004 – Carbonatite
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Figure 3: CAP17-004 – Carbonatite
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Figure 4: CAP17-004 – Lower Syenite
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ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.
“Patrick Power”
Patrick Power, President
+1 (604) 689-1799
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement. Specific risks included that we may not be able to finance our intended acquisition or intended exploration and we may not obtain regulatory approval for the transaction.
- Published in Arctic Star Exploration, Mining, News Home
Two Diamond Legends Reunite For Next Big Discovery
Two Diamond Legends Reunite For Next Big Discovery
Baystreet Staff – Thursday, July 27, 2017
We’ve been bullish on the future of diamonds for as long as we can remember. The trick is, of course, finding the right company to invest in. Open-pit diamond mines can command premium prices like nothing else in the resource sector, but they’re hard to find with only select pockets globally available. Washington Companies this month offering to pay $1.2 billion for Dominion Diamond Corp. and DeBeers re-upping its partnership with Nambia for offshore diamond dredging efforts have reinvigorated our attention to this investment space.
There is still strong diamond demand and expectations for that to continue for decades to come. There’s a good reason that Washington is willing to pay a 44{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} premium for Dominion and for DeBeers to ink a ten-year agreement with Nambia to scour its seabed for diamonds washed out to sea by the Oranje river.
It’s also more than adequate information telling us that now is the time to get into a diamond miner with strong upside. And we’ve found one in Arctic Star Exploration Corp. (TSX-V: ADD)(OTCPK: ASDZF).
A Nose for Diamonds
Believe it or not, there is a common thread between little Arctic Star and Dominion Diamonds’ 40{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} stake in the Diavik Mine that Washington Companies is paying a premium for. His name is Buddy Doyle, currently Vice President Exploration and Director at Arctic Star. Doyle previously worked at Rio Tinto (NYSE: RIO) for over 23 years, most recently serving as Exploration Manager / VP of Kennecott Canada Exploration, a unit of Rio Tinto, where he was in charge of diamond exploration in North America.
Doyle was a key member of the Kennecott Exploration Australia team that discovered the multi-million ounce Minifie gold deposits at Lihir in 1987-1988 and he also led the team that discovered the Diavik diamond deposits in Canada in 1994-1995. Rio still owns 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the Diavik Mine, which produced 6.6 million carats of diamonds in 2016.
If you think about multi-billion-dollar mines, it’s quite an accomplishment to be a part of one discovery. Doyle has done it twice. That’s why he is recognized across the industry as an expert in kimberlite geology – areas of igneous rock named after the 83.5-carat diamond found in the same geology in Kimberley, South Africa in 1869 – and authored or co-authored numerous industry papers on the subject. So, when Doyle says he likes what he sees for a new diamond find, it makes our ears perk up.
Now add in Roy Spencer, who just joined Arctic’s board of directors two weeks ago. Who is Roy Spencer, you may ask? He is the man who discovered the multi-billion-dollar Grib Kimberlites in Russia, as well as the Wolf Kimberlites in Finland. Late in 2016, the Russian investment group Otkritie Holding acquired the Grib mine, which produced 4.5 million carats of diamonds last year, from Lukoil for $1.45 billion.
It’s also worth noting that the nearby Lomonosova Mine of Alrosa has been producing at commercial scale since 2005. The deposit consists primarily of six kimberlite pipes, with resources estimated at over 115 million carats of diamonds.
The two diamond-bearing kimberlite gurus have collaborated previously on diamond projects in Finland and on the development of the Liqhobong Diamond Mine in Lesotho, South Africa.
Arguably two of the most accomplished diamond explorers in the world uniting to work on another project together grabs our attention for sure.
Black Wolf and White Wolf
Spencer, Doyle and the rest of the seasoned Arctic Star team believe that they could have a district-scale discovery with the Wolf kimberlites in Finland, about 24 kilometers from the Russian border. To that end, the company this month inked an agreement to acquire a 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest in a 243-hectare Exploration Permit over the Black Wolf (Masta Susi) and the White Wolf (Valkoinen Susi) diamond bearing kimberlites, which are collectively referred to as the “Wolf kimberlites” by the company for the sake of simplicity.
In the words of Spencer, “Kimberlites are likely to occur in fields – also known as clusters – which typically contain 30 or more separate kimberlites. The Wolf kimberlites are just the first discoveries in a more extensive cluster.”
Moreover, Arctic Star filed an application for an Exploration Reservation spanning some 95,700 hectares surrounding its 243 hectares, giving the company exclusive rights to acquire more permits over the next two years. To add some color to the size of the property, consider that 96,000 hectares is equal to about 370 square miles, a land mass larger than all but 14 cities in the U.S., including the likes of Dallas, San Diego, Indianapolis and New York City.
Broadly, the combined regional exploration and diamondiferous kimberlite property has been named the Timantti Project, making use of the Finnish word for “diamond.”
Timantti could be part of what is known as the Karelian Craton, a geological formation that hosts world-class deposits in Russia. Cratons are characterized as parts of the earth’s crust that have remained stable for approximately three billion years and act as the primary source of diamonds globally.
For the sake a brevity and because it gets quite technical, we’re not going to go deep into the geology of Timantti. However, a NI 43-101 report has been filed with SEDAR by Arctic Star, lending evidence of the diamond-bearing nature of the Wolf kimberlites. The discovery was made by Spencer while at European Diamonds in 2005 by drilling a low-magnitude magnetic high anomaly at the head of a prominent G10 pyrope garnet-bearing kimberlitic indicator mineral train they had traced over 30 kilometers. Eight angled diamond drill holes and trench sampling further added to a body of evidence confirming diamond resources exist on the project.
Latest Evidence of Diamonds
What we do want to point out is that yesterday Arctic Star disclosed receiving more diamond results from the White Wolf kimberlite. The company took advantage of the Finnish Geological survey’s policy of storing core samples at its facility in Loppi and the fact that the Finnish authority permitted Spencer to take another look at the prior samples.
A 48.65 kilogram split core was analyzed through caustic fusion by the Saskatchewan Research Council laboratory in Saskatoon. The results showed a total of 111 diamonds, 47 of which were greater than 0.106mm and six that were greater than 0.60mm, including one at 1.18mm.
Additional assays from earlier surface sampling by Arctic Star analyzed at the Microlithics Laboratory in Thunder Bay also showed diamonds at White Wolf, including 58 stones in an 18.9-kilogram sample and 169 stones in a 67.55-kilogram sample.
What’s Next
These microdiamonds being found is tantamount to the potential for a large kimberlite discovery. The majority of diamondiferous kimberlites around the world show an exponential relationship between the number of small diamonds and large diamonds. The next step will be to commence a drill program to collect more caustic fusion samples, and delineate the size and shape of the kimberlites. This program would commence on the completion of ground geophysical surveys designed to help plan this drill program.
In short, better define White Wolf and Black Wolf and look to collect data on new kimberlite discoveries at Timantti. In our view, corporate value will continue to build based upon the two known kimberlites alone and proof of additional clusters will lead to talk of Spencer and Doyle “doing it again” to add to the billions of dollars’ worth of diamond discoveries already in their C.V.’s.
Given the impeccable credentials and legacy of massive diamond discoveries by the Arctic Star leadership and the exploration work to date suggesting a strong diamond resource, it is a bit surprising to us that the company is still only commanding a market capitalization of less than C$12 million. We view this pullback from a 52-week high at 37.5 cents to around 20 cents as an unquestionable opportunity for us to start building our position in Arctic Star.
Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this Report should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. We make no guarantee, representation or warranty and accept no responsibility or liability as to its accuracy or completeness. Baystreet.ca assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Baystreet.ca has been compensated five thousand dollars for its efforts in distributing the ADD profile on its web site and distributing it to its database of subscribers. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report.
- Published in Arctic Star Exploration, Blog, Mining
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