MedX Health closes first tranche of placement
Momentum Public Relations
Press Release: October 11, 2018
MedX Health Corp. (“MedX” or the “Company”) (TSX-V: MDX) announces that, pursuant to a non-brokered Private Placement Offering (the “Placement Offering”), it has completed an initial Closing of 2,106,250 Units, to raise $337,000 from accredited investors. The Company is planning to raise up to $2.5 million by issuance of up to 15,625,000 Units from the Placement Offering. Each Unit, priced at $0.16, comprises one fully paid common share and one share purchase warrant; each warrant entitles the holder to purchase one additional share at a price of $0.35 during the period up to three years from the closing date of the placement. The securities issued as a result of the Placement Offering will be restricted from trading for four months following each Closing. The Placement Offering is still open to subscribers, and further subscriptions may be accepted for further Closings. This Closing, and any further Closing of the Placement Offering, is subject to all relevant regulatory and other consents and approvals, including acceptance by the TSX Venture Exchange.
Following this Closing, MedX has 133,916,401 common shares issued and outstanding.
About MedX
MedX, headquartered in Mississauga, Ontario, is a leading medical device and software company focused on skin cancer with its DermSecure™ telemedicine platform, utilizing its SIAscopy technology. SIAscopy is also imbedded in its products SIAMETRICS™, SIMSYS™, and MoleMate™, which MedX manufactures in its ISO 13485 certified facility. SIAMETRICS™, SIMSYS™, and MoleMate™ include hand-held devices that use patented technology utilizing light and its remittance to view up to 2 mm beneath suspicious moles and lesions in a pain free, non-invasive manner, with its software then creating real-time images for physicians and dermatologists to evaluate all types of moles or lesions within seconds. These products are Health Canada, FDA (US), ARTG and CE cleared for use in Canada, the US, Australia, New Zealand, the European Union and Turkey. MedX also designs, manufactures and distributes quality photobiomodulation therapeutic and dental lasers to provide drug-free and non-invasive treatment of tissue damage and pain. www.medxhealth.com.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company’s limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company’s projections or forward-looking statements. All forward looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181011005958/en/
Contacts:
MedX Health Corp
Scott Spearn, 905-670-4428 ext 229
President and CEO
or
Media Relations
Deborah Thompson, 416-918-9551
dthompson@medxhealth.com
- Published in Business, Life Sciences, MedX Health Corp., News Home, Technology
AREV Brands International Announces Mike Withrow as CEO
Momentum Public Relations
Press Release: October 11, 2018
AREV Brands International Ltd. (” AREV ” or the “Company”) ( CSE – AREV ), is pleased to announce Mike Withrow will act as the Company’s Chief Executive Officer (“CEO”), effective October 11, 2018.
Effective October 11, 2018 Stephane Maher, has resigned as CEO of the Company, in order to focus all his efforts on being the Business Development Manager, Quebec. Mr. Maher will be executing the Company’s tactical direction in Quebec, and review of strategic opportunities presented to the Company within this territory and the surrounding areas.
Scott Davis, AREV CFO, comments “It is great to have Mr. Withrow come on in the capacity of CEO to see the Company through to the next phase. We have been so fortunate to not only have his skills and expertise to guide us, but Mr. Withrow has also agreed to work for $1 a year, until such time as the Company is revenue positive.”
The Company wishes to thank Mr. Maher for all his contributions as an Officer of the Company and looks forward to continuing to work with Mr. Maher in this new capacity.
For further information, contact Mike Withrow, Director at mike@arevnutrition.com
On behalf of the Board,
Mike Withrow
Director
About AREV Brands International
AREV Brands International (“AREV”) produces and delivers functional ingredients from its world-class extraction systems. AREV is revolutionizing the current delivery method of coconut oil, whey protein and nutrients through emulsification. These premium ingredients and products are targeted for the natural health, medical, functional food, nutraceutical, sport nutrition and bioceutical markets. AREV is also working with Pharmacy and Dispensary operators with an innovative emulsified base formula to disperse Cannabis oil extracts from specific selected genetic Cannabis strains that address 5 areas of health including Anxiety, Pain Management, Insomnia, Central Nervous System Disorders & Libido.
- Published in AREV Nutrition Sciences, Business, Medical Marijuana, News Home
Tetra Bio-Pharma’s PPP002 on Track After Type C Meeting with FDA
Momentum Public Relations
Press Release: October 11, 2018
Tetra Bio-Pharma Inc., a leader in cannabinoid-based drug discovery and development (TSX VENTURE: TBP) (OTCQB: TBPMF), today announced it received the response letter for a Type C meeting with the United States Food and Drug Administration (FDA) for PPP002, its dronabinol AdVersa™ mucoadhesive product. The meeting was held to confirm that the proposed chemistry and manufacturing and non-clinical development plan for PPP002 for the 505(b)(2) is acceptable.
The FDA established that Tetra Bio-Pharma’s proposed bridging strategy fulfilled all the requirements of the 505(b)(2) regulatory pathway for the product PPP002. The FDA also provided feedback on the chemistry and manufacturing aspects of the drug development plan. The FDA further confirmed that the product control strategy, ensuring the identity, potency, purity and quality of the PPP002 buccal tablets was acceptable thereby determining that Tetra Bio-Pharma’s plan is on track for drug approval.
“We have now completed our meetings with the U.S. FDA and Tetra is well on its way to finalizing the development plan to bring PPP002 to market,” said Guy Chamberland, M.Sc., Ph.D., Interim Chief Executive Officer and CSO of Tetra Bio-Pharma. “With both the Type B and C meetings now behind us, we are able to move forward with executing the clinical program for PPP002 and subsequently submit the New Drug Application to commercialize PPP002.”
Tetra, along with its partner IntelGenx Corp, is developing this product in the United States under the accelerated 505(b)(2) pathway for the indication of chemotherapy-induced nausea and vomiting, and anorexia and weight loss in people with AIDS. These are the same indications that have already been approved for Marinol®. The 505(b)(2) speciality Contract Research Organization, Camargo, is guiding the regulatory submissions to the FDA. Tetra is also developing PPP002 in Canada as an adjunct therapy for opioid reduction in patients with chronic pain.
According to the International Agency for Research on Cancer, the global chemotherapy-induced nausea and vomiting (CINV) market will reach a valuation of US $1.88 billion by 2020, an increase from its 2013 valuation of US$1.28 billion. Based on the expected improved safety profile of delayed release dronabinol, Tetra expects that AdVersa™ can gain significant market share within three years of its launch in the USA.
About Tetra Bio-Pharma Inc.
Tetra Bio-Pharma (TSX-V: TBP) (OTCQB: TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and development with a Health Canada approved, and FDA reviewed, clinical program aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers. The Company has several subsidiaries engaged in the development of an advanced and growing pipeline of Bio Pharmaceuticals, Natural Health and Veterinary Products containing cannabis and other medicinal plant-based elements. With patients at the core of what we do, Tetra Bio-Pharma is focused on providing rigorous scientific validation and safety data required for inclusion into the existing bio pharma industry by regulators, physicians and insurance companies.
For more information visit: www.tetrabiopharma.com
Source: Tetra Bio-Pharma
- Published in Life Sciences, Medical Marijuana, News Home, Tetra Bio Pharma
Sirona Biochem to Present at the 2018 Arctic Circle Assembly
Momentum Public Relations
Press Release: October 11, 2018
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (the “Company”) announced today that Chief Scientific Officer, Dr. Geraldine Deliencourt-Godefroy will attend and present at the Arctic Circle Assembly. This conference will take place October 19th – 21st at the Harpa Conference Center in Reykjavik, Iceland.
The Arctic Circle Assembly is the largest international gathering on the future of the Arctic. As described by the organizers, this annual event invites attendees from 60 countries, ranging from heads of states and governments, ministers, members of parliament, officials, experts, scientists, entrepreneurs, business leaders, indigenous representatives, environmentalists, students, activists and others from the growing international community of partners and participants interested in the future of the Arctic. The Assembly covers a wide variety of topics designed in collaboration with partner organizations.
Dr. Deliencourt-Godefroy will be presenting in the Science and Traditional Knowledge Program. She’ll be discussing her work on glycoproteins based on arctic fish, a project she has been passionate about since her career began. In her post-doctoral research, Dr. Deliencourt-Godefroy was inspired by the naturally occurring antifreeze glycoproteins in the bloodstream of some fish that allow them to survive sub-zero temperatures. She has since developed a novel, patented family of compounds with a unique ability to resist stress, that are suitable for numerous commercial applications.
For over fifteen years, Dr. Deliencourt-Godefroy has continued to receive recognition for her innovative research and development within Europe, especially by the French Government. Prior to the Arctic Circle Assembly, Dr. Deliencourt-Godefroy will be attending Cosmetic 360 in Paris, France. At this global cosmetic trade fair, Sirona will be attending pre-arranged meetings as well as continuing to build networks with top industry representatives in cosmetics.
About the Arctic Circle Assembly
Established in 2013, the Arctic Circle Assembly is organized by the Arctic Circle, a non-profit organization creating a dialogue to discuss the future of the Arctic. Attended by over 2000 people from 60 countries each year, political figures, environmental experts, business leaders and scientists gather to raise global awareness of this region.
Alongside the assembly, the Arctic Circle organizes smaller forums around the world, to focus on specific environments and facilitate further discussion. For more information, visit: http://www.arcticcircle.org/
About Cosmetic 360
Cosmetic 360 is an innovative-centered trade fair for the cosmetic industry. The conference brings together professionals and industry representatives from all over the world. All facets of the cosmetic industry are represented at the conference including raw materials, formulation, packaging, testing and analysis, finished products, and distribution. More information on the conference can be found at https://www.cosmetic-360.com/en/
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information regarding this press release, please contact:
Christopher Hopton, CFO
Sirona Biochem Corp.
Phone: 1.604.282.6064
Email: chopton@sironabiochem.com
- Published in Business, Medical Marijuana, News Home, Sirona Biochem
CROP’s California Harvest in and ‘first Revenue’ Close
Momentum Public Relations
Press Release: October 11, 2018
CROP Infrastructure Corp. (CSE: CROP) (OTC: CRXPF) (“CROP”) announced today its California tenant has now finished harvesting the entire 30,000 square feet of production area.
The crop tally stands at approximately 2,100 pounds consisting of ~300 lbs of dried flower, ~1,100 lbs which is currently drying, and an additional ~700 lbs of lower tier production for extracts, etc. In line with CROP’s standardized growing protocols, the greenhouses have now been repopulated and the plants are already in flower for a further Q4 harvest.
CROP Infrastructure CEO, Michael Yorke, stated: “CROP is now only steps away from first revenue as the tenant’s sales cycle has been initiated. Of particular significance too, we can also report that the tenant’s temporary cannabis licenses have now been converted to a permanent California state license. CROP looks forward to having its California operations rapidly becoming profitable.”
The cannabis will now be trimmed and packaged to the specifications of the various distributors the tenant is contracting with. The crop strains are 707 OG, Forbidden Fruit, Green Crack, Birthday Cake, and Girl Scout Cookie. In addition, the tenant has added a new sought-after strain, Insane OG.
The company is awaiting construction permits to build out 12 proprietary light supplemented greenhouses totaling 44,000 sq. feet.
About CROP
CROP Infrastructure Corp. is publicly listed on the Canadian Securities Exchange and trades under the symbol “CROP” and in the US under the symbol “CRXPF”. CROP is primarily engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. The Company’s portfolio of projects includes cultivation properties in California, two in Washington State, a 1,000-acre Nevada Cannabis farm, an 1,865 acre CBD farm, extraction in Nevada with international focuses in Jamaica and Italy and a joint venture on West Hollywood and San Bernardino dispensary applications.
CROP has developed a portfolio of assets including Canna Drink, a cannabis infused functional beverage, US and Italian distribution rights to over 55 cannabis topical products and a portfolio of 16 Cannabis brands.
Company Contact
Michael Yorke – CEO, Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
- Published in Business, CROP Infrastructure, Medical Marijuana, News Home
CROP Hemp-CBD Farm Enters Toll Processing Deal to Produce CBD Isolate as it Readies for Harvest
Momentum Public Relations
Press Release: October 10, 2018
CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR)announced today that its tenant has signed a toll processing deal whereby it will provide its dried hemp-CBD biomass to a processor who will then provide 50% of the finished product as ISO certified CBD isolate to CROP’s tenanted farm. The CBD isolate will be sold under the company’s brands Hempire, Tiff CBD, infused in to the company’s CannaDrink and sold under white label.
CROP’s tenant, at its Nye County hemp-CBD farm in Nevada, has already begun equipment readiness preparations as the harvest is imminent.
CROP will also be working with the toll processor to enter into further agreements to develop its own ISO extraction facility for its production capacity which is now expanded to over 1,800 acres for 2019. The processor has consulted with numerous Canadian ACMPR and US licensed cannabis cultivators and processors to develop GMP and ISO conforming extraction facilities.
According to cannabis industry analysts, The Brightfield Group, it is estimated the hemp CBD market alone could hit $22-billion by 2022.
CROP CEO, Michael Yorke, stated: “Being in a position to have CBD isolate from the 2018 harvest will enable the company to begin infusing products like the CannaDrink beverage line and begin developing relationships with bulk buyers in preparation for 2019. Even with a toll cost, upgrading CBD biomass to isolate should significantly increase the value of our tenant harvest. This new strategic-alliance opens up additional mutually beneficial opportunities, specifically those in developing our own extraction facilities, both in the US and Europe, which will be necessary to maximize the potential of our portfolio’s ongoing hemp-CBD and Cannabis-THC production.”
About CROP
CROP has a portfolio of cannabis projects including cultivation properties in California, two in Washington State, two in Nevada consisting of 2,800 acres, 3 dispensary applications, with international focuses in Jamaica and 2 farms in Italy. CROP has developed a portfolio of assets including CannaDrink and a portfolio of 16 Cannabis brands. with US and Italian distribution rights to over 55 topical products.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (1) 604-484-4206
- Published in Business, CROP Infrastructure, Life Sciences, Medical Marijuana, News Home
Crop Infrastructure May Have The Largest Hemp/CBD Site in Nevada.
Momentum Public Relations
Blog: October 4, 2018
A Canadian Press story published in the Huffington Post on September 27, 2018, by Armina Ligaya reported that American research house Brightfield Group has updated its 2018 CBD report and predicted that CBD market value will now reach US$22 billion by 2022. To show how much market perceptions have changed, in 2017, according to Forbes, Brightfield estimated that CBD would US$1 billion by 2020.
A blog on the Brightfield site captures the disparity between the two figures perfectly. It is posted under the title: CBD Worth $22 billion by 2022? That’s crazy, right? In another Brightfield blog Bethany Gomez wrote, “I have never seen anything like the explosion we are seeing right now in CBD.”
CBDs are the cannabinoids used in medical research and being developed into drugs to treat a variety of illnesses and diseases. There are drugs under development based on CBDs to treat fibromyalgia, nausea from cancer therapies, pain and there is at least one trial underway to see if CBD-based drugs can replace drugs like fentanyl. There are also veterinary CBD based drugs under development for pain and anxiety in dogs and cats.
CBDs are also the ingredient used to infuse everything from anti-ageing formulations, arthritis creams and non-THC beverages.
If you have invested in the marijuana market then you should also be looking at the CBD market because according to Brightfield, the market for CBDs could be larger than the market for recreational marijuana.
Here’s where things start to get interesting. The active psychoactive ingredient in marijuana is THC. CBDs can be refined from either marijuana or hemp and it’s much cheaper to refine it from hemp.
Most Canadian ‘pot-cos’ have some form of medical research branch. Canopy Growth for instance has a subsidiary, Canopy Health Innovations that is developing a CBD based treatment for insomnia. This past summer it appointed Dr. Mark Ware, a well respected researcher, as its Chief Medical Officer. Aurora has the Aurora Research Institute which is developing treatments for cardiovascular disease, cancer and neurological disorders. Aphria is funding Tetra Bio Pharma’s subsidiary Phyto Pain Pharma’s clinical trials.
Hemp can also be used to produce CBDs. Whether or not farm grown hemp would meet the clinical levels of purity for medical use is another question, pesticide residues and fertilizer residues may rule out medical use for hemp derived CBDs.
But the medical market may only be the tip of the iceberg. According to the US government there are 25,000 different products derived from hemp. On sale now are clothes made out of hemp, rope and fabric as well as a host of new age lotions, potions, creams and topical ointments. Least we forget, almost every Canadian marijuana company also has a CBD infused beverage under development and even the king of soft drinks, Coca Cola is noted as also looking for a CBD dance partner. These are the products that Brightfield expects to drive the CBD market.
The United States federal government is moving towards legalizing hemp in the 2018 Farm Bill which will be voted on soon. American farmers are anxious to find a product that will replace declining tobacco sales. Currently, the negotiations for a new farm bill have stalled.
Until now, Cannabis has been a Schedule 1, federally controlled substance ranked with heroin and LSD. This has meant that the market in CBD enhanced products has been a grey one largely splintered and usually located in old fashioned head shops, modern dispensaries and by mail order off of the internet. Once hemp becomes legal for interstate commerce CBD health and wellness products including CBD based dog treats will come out of the grey market and stand a chance of gaining national shelf space in chains like Walmart and Walgreens.
If the CBD market is going to be as big as recreational marijuana, or as those at Brightfield think, even bigger, then you owe it to yourself to take a good look at the CBD market.
The CBC posted a CBD story on September 27, and in it Tina Fraser, an Ottawa-based lawyer who advises the marijuana industry described the kind of products being developed and already sold in some cases by saying: “Think about cosmetics, and skin creams, and arthritic topical creams, and all sorts of types of products that you would go to a drug store to buy that could have these potentially therapeutic effects from CBD … That’s certainly not unrealistic, and I think in fact, odds are, we will be there [in Canada]. I hope, within the next five years.”
Investors looking for a way to play this developing market may want to take another good look at Crop Infrastructure Corp. (CROP:CSE). CROP is unique for any number of reasons.
To begin with, it may be the only Canadian marijuana company that doesn’t have any operations in Canada. If the future of the Canadian marijuana industry lies on foreign shores then CROP has already landed. And then there is CROP’s business model. It is based on Real Estate Investment Trusts. For the right tenant CROP will buy land, build roads and greenhouses and provide management, quality control and branding. In return CROP benefits from a two-year return on investment and royalties that stem from an ownership position that ranges from 30% to 49%.
At the moment CROP has 176,000 square feet covered or under construction and an additional 134,000 square feet planned. As well the company has interests in 325 acres of outdoor production. The company has two operations in Washington State and Nevada, one in California and in Italy. The company also has permits for Jamaica and two joint venture dispensary application in process in California. CROP has the US and Italian distribution rights to more than 55 CBD-based NHPs, natural health products and is of course developing its own CBD-infused recovery beverage.
According to a deleted tweet by Epstein Research, Epstein management believes that Crop has substantial exposure to the developing American CBD and hemp market because it has the largest hemp operation in Nevada. If you believe CBD is going to be big, then you should take a long close look at Crop and its operations.
This blog should not be construed as investment advice it is written for informational purposes only. It is incumbent on every investor to perform their own due diligence. Crop Infrastructure is represented by Momentum PR.
- Published in Blog, CROP Infrastructure
Arctic Star Announces Diamond Results from Black and Grey Wolf Kimberlites, Timantti Project, Finland
Momentum Public Relations
Press Release: October 4, 2018
Arctic Star Exploration Corp (TSXV: ADD) (FSE: 82A1) (OTCQB: ASDZF) (“Arctic Star” or the “Company”) is pleased to announce it has received the final caustic fusion diamond results from drill testing the Black and Grey Wolf kimberlites, obtained from the 2018 Spring diamond drilling program. The results for the Black Wolf kimberlite from 349.75 kg of split HQ size drill core are shown in Table 1, the results from Grey Wolf are shown in Table 2.
Table 1: Micro Diamond Assay Results, Black Wolf Kimberlite
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
|
Total
Stones
|
Black Wolf | 349.75 | 267 | 138 | 87 | 45 | 16 | 3 | 3 | 0 | 559 |
Notes: Results are from SRC of Saskatoon. SRC is independent of the Issuer. A chain of custody protocol was used. Sample weights are dry weights. SRC is an ISO 9000 laboratory.
Table 2: Micro Diamond Assay Results, Grey Wolf Kimberlite
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
|
Total
Stones
|
Grey Wolf (Drill) | 101.66 | 29 | 14 | 13 | 8 | 1 | 1 | 0 | 0 | 66 |
Grey Wolf(Trench) | 99.98 | 28 | 18 | 20 | 8 | 1 | 2 | 0 | 1 | 78 |
Total | 201.64 | 57 | 32 | 33 | 16 | 2 | 3 | 0 | 1 | 144 |
Notes: Results are from Microlithics. Microlithics is independent of the Issuer. A chain of custody protocol was used. Sample weights are dry weights. Microlithics is an ISO 9000 laboratory.
A diamond that sits on the 0.85mm sieve was also reported from the Grey Wolf trench samples in an 18kg sample sent for indicator mineral analysis.
Table 3: Micro Diamond Assay Results, White Wolf Kimberlite
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
|
Total
Stones
|
White Wolf | 409.93 | 516 | 253 | 136 | 81 | 27 | 16 | 7 | 5 | 1,032 |
Notes: Results are from Microlithics and SRC laboratories, both independent of the Issuer. A chain of custody protocol was used. Sample weights are dry weights. Microlithics and SRC are ISO 9000 laboratories.
Arctic Star completed first pass exploration and delineation drilling on the Timanitti Diamond Project in March this year and located four separate kimberlites. This release completes results expected from this drill program. Table 3 showing the results from the White Wolf kimberlite are also given here for completeness and easy comparison.
Arctic Star’s management and exploration team are pleased to see that each of the kimberlites discovered to date contain diamonds and are significantly mineralised when compared to other exploration projects worldwide at this stage of exploration. Based on laboratory descriptions of the diamonds the majority are white in colour and octahedral in shape. Colours are described as white, brown and grey.
Diamond Bearing Wolves
The positive results from the Wolf kimberlites are such that further evaluation work is warranted. These kimberlites where drilled from the perceived centre of the kimberlite to obtain the maximum amount of kimberlite for diamond analysis. This drilling has shown that the “Wolves” are not vertical pipes but bodies dipping to the North — North East at approximately 35 degrees. The Wolves occur in a linear East West trend 300m long with Grey Wolf in the West and White Wolf in the East. The best interpretations to date are that these kimberlites are, “Blows” along a feeder dyke or a fault displaced semi-continuous sill. The next step is to further delineate the Wolves with angled drill holes from the north to intercept the dipping kimberlite. This work would outline the tonnage and allow planning for bulk sampling.
Main Focus, More Kimberlites
However, further exploration of the Wolf kimberlites is seen as secondary. Since kimberlites predominantly occur in groups or families averaging 30 members or more, the main focus will be finding more kimberlites. Thereafter, the kimberlites will be prioritized based on their diamond content. The logistics of bulk sampling a number of kimberlites are superior to sampling a few and it is wiser to sample the best first. Thus, the main task of the next phase of exploration will be geophysics, till sampling, excavator sampling and drilling to discover new kimberlites. There is strong evidence that there are more kimberlites in the area from the till sampling.
Ground and UAV airborne geophysics have revealed numerous magnetic targets similar to the anomalies over the Wolves. Management is confident that more kimberlites will be found. One of the prime targets will be drilling existing magnetic anomaly along the East-West extension of the Wolves.
The company plans to mobilize the excavator and ground geophysical crews in November, with drill testing in early 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
The Company owns 100% of the recently acquired Timantti Diamond Project including a 243 Ha Exploration Permit and a 193,700 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, Mining, News Home