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