Vancouver, British Columbia / July 5, 2018 / Arctic Star Exploration Corp (TSX.V: ADD / FSE: 82A1 / OTCQB: ASDZF) (“Arctic Star” or the “Company”) is pleased to announce the second set of results from drilling at the White Wolf kimberlite occurrence at its 100% owned Timantti Diamond Project near Kuusamo, Finland (the “Project”). The results are from caustic fusion method on a composite 262.33kg of split HQ drill core from Spring 2018 drilling at the Project.
Complete results from the White Wolf kimberlite are reported below and include the past caustic fusion diamond results (“Previous”) and the results just received (“New”), for a combined total of 1,032 diamonds from 409.3kg of White Wolf kimberlite.
Table 1: Micro Diamond Assay Results, White Wolf Kimberlite
|White Wolf New||262.33||393||168||95||62||18||11||7||3||758|
Notes: Previous results where a mixture of core and surface samples processed at Micolithics and Saskatchewan Research Council (“SRC”) Saskatoon, Saskatchewan. Both laboratories are independent of the issuer, SRC is an ISO9000 laboratory, A Chain of custody protocol was adhered too. Sample weights are dry weights.
Arctic Star completed initial exploration and delineation drilling at the Project in Spring 2018. Exploration located four separate kimberlite occurrences including the White Wolf, Black Wolf, Grey Wolf and Vasa Dyke Swarm.
Results from the White Wolf kimberlite will now form the basis of the interpretation process. This work is based on the size distribution of the diamond results for the purpose of providing an estimate of overall grade as well as guidance for size of bulk sample, should a decision to proceed with bulk sampling be made. A bulk sample containing >1000 carats of commercial sized diamonds would be needed to obtain a view of the average price of the diamonds in the kimberlite. At which stage the first economic estimate could be made.
Buddy Doyle, VP of Exploration stated, “We are very encouraged by the diamond results from White Wolf kimberlite, we await the diamond results from Black Wolf, and Grey Wolf, expected prior to the end of this month. With all the results in hand we can plan the next stage for these kimberlites. However, our focus will be more on finding more, we expect we are in a larger kimberlite field based on diamond indicators in the till in the area with at least several separate sources. It would make more sense to explore, find and do similar caustic fusion analysis to make an inventory of kimberlites that need bulk sampling, prior to doing this exercise on the Wolves.”
A summer exploration program is underway to identify additional kimberlites including esker and till sampling, in addition to focused airborne and ground geophysical surveys.
The technical portions of this press release were reviewed by Arctic Star’s Vice-President of Exploration Buddy Doyle, AUSIMM, a Geologist with over 30 years’ experience. Mr. Doyle is a non-independent Qualified Person within the meaning of National Instrument 43-101 Standards.
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
Patrick Power, Executive Chairman
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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.