|July 15, 2014|
Arctic Star Set To Start Exploration At The Redemption Diamond Project, NWT
|July 15, 2014 - Arctic Star Exploration Corp. (TSXV-ADD) and North Arrow Minerals Inc. (TSXV-NAR) are pleased to announce the start of an exploration drilling program at the Redemption Diamond Project in the Northwest Territories. The property is located in the Lac de Gras region, approximately 32 km southwest of, and 47 km west of the Ekati and Diavik diamond mines, respectively.|
Mobilization is underway for the 1,000 m drilling program, which is intended to test six to eight priority drill targets located in the central part of the property. The targets have been identified based on results of a detailed data compilation and new airborne and ground geophysical surveys. The drill targets include various combinations of gravity, magnetic and electromagnetic geophysical responses that have been further prioritized based on their location with respect to the termination of the South Coppermine kimberlite indicator mineral train, which represents one of the last well defined and unsourced KIM trains in the Lac de Gras region. The discovery of even a single kimberlite from any of these top priority targets would upgrade a number of the remaining prospective targets within the Redemption property. The drill program is expected to run through to the middle of August. A follow up winter/spring 2015 drilling program will be required to test ice based targets.
North Arrow is exploring the Redemption property under an option agreement with Arctic Star, under which the Company can earn a 55% interest by incurring $5 million in exploration expenditures prior to July 1, 2017.
For further information on the Company please visit www.arcticstar.ca or email firstname.lastname@example.org or by tel : 604-689-1799.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.
Patrick Power, President
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release."
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.
This news release includes forward looking statements that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements.
Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements. Unless otherwise required by law, the Company assumes no obligation to update any forward looking statements, whether as a result of new information, future events or otherwise.
You can view the Next News Releases item: Mon Jul 21, 2014, Arctic Star Announces Closing of First Tranche of Private Placement, Increased Overall Private Placement
You can view the Previous News Releases item: Thu May 22, 2014, Plans for Summer Drill program on Redemption underway
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