North Arrow minerals will have to sit tight over the next couple of months and wait for the results from their till sampling program before putting any new holes in the ground.
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VANCOUVER, BRITISH COLUMBIA–(Marketwired – July 7, 2014) – North Arrow Minerals Inc. (TSX VENTURE:NAR) is pleased to announce completion of the June 2014 till sampling program at the Pikoo Diamond Project in central eastern Saskatchewan. A total of 441 till samples were collected during the four week program, which was intended to follow up on the 2013 discovery of diamond bearing kimberlite within the 33,000 ha property.
[box type=”note” align=”aligncenter” ]We haven’t talked about North Arrow or about diamonds in a few months, so we thought it as good a time as any to bring up our favourite exploration topic. This news release is a follow up to North Arrow’s discovery of the Pikoo kimberlite in northern Saskatchewan in November 2013. The company now holds an 80% interest in the Pikoo Diamond project and began a bulk till sampling program at the end of May to identify more kimberlite indicator mineral (KIM) trains.
Diamonds are deposited near the surface of the earth through violent deep-sourced volcanic eruptions. These eruptions produce structures known as kimberlite pipes which contain minerals that only form deep within the earth’s mantle – including diamonds. In previously glaciated areas, the sampling of glacial sediments may identify minerals which were eroded from kimberlites by the advancing ice. While kimberlite pipes tend to be fairly narrow at the surface, long trains of these kimberlite indicator minerals can act like a trail of breadcrumbs leading geologists to the source rock.[/box]
All 2014 till samples are at the processing laboratory. Sample processing is under way and scheduled to continue through July and August. Results from the program will be used to evaluate selected potential kimberlite targets and provide more detailed regional coverage of the eastern portion of the property where numerous positive till samples are located but sample density has been insufficient to define individual kimberlite indicator mineral trains. Follow up exploration, including drilling, is tentatively planned for the fall 2014 and winter/spring 2015.
[box type=”note” align=”aligncenter” ]Thoughtful and thorough diamond drill planning is necessary to increase the probability of finding new deposits. North Arrow minerals will have to sit tight over the next couple of months and wait for the results from their till sampling program before putting any new holes in the ground.[/box]
The 2014 Pikoo exploration program is being conducted with Stornoway Diamond Corporation (TSX:SWY) under an 80% (North Arrow) / 20% (Stornoway) participating joint venture arrangement. North Arrow’s diamond exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo., President and CEO of North Arrow and a Qualified Person under NI 43-101. Mr. Armstrong has reviewed the contents of this press release.
[box type=”note” align=”aligncenter” ]As of writing, North Arrow’s stock is trading at $0.72, down from it’s 52-week high of $0.84, but well above their pre-discovery low of $0.36.
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About North Arrow Minerals
North Arrow is a Canadian based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada. North Arrow’s management, board of directors and advisors have significant successful experience in the Canadian diamond industry. In addition to the Pikoo Project, North Arrow is planning the collection of a 1,500 tonne bulk sample from the Q1-4 kimberlite at its Qilalugaq (NU) Project and is also evaluating each of the Redemption (NWT), Lac de Gras (NWT), Mel (NU), Luxx (NU) and Timiskaming (ON/QC) Diamond Projects.
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