Vancouver, British Columbia– September 13, 2022 – Arctic Star Exploration Corp. (TSXV: ADD) (Frankfurt: 82A2) (WKN: A2DFY5) (OTC: ASDZF) (“Arctic Star” or the “Company”) is pleased to announce it has received the final caustic fusion diamond results from drill testing the Arbutus kimberlites at the Diagras Diamond Project (“Diagras”), obtained from the 2022 Spring diamond drilling program.
The Diagras project is located at prolific diamond production district of Lac de Gras in the Northwest Territories and is a Joint Venture (the “JV”) between Artic Star (81.5%) and Margaret Lake Diamonds Inc. (“DIA”) (18.5%).
The Arbutus caustic fusion diamond results are listed in bold, in the table below, along with our other discoveries on the Diagras property to date. Scanning the table, it can quickly be seen the Arbutus result is the second-best result to date. The results demonstrate that this kimberlite is diamond bearing, but the sample is too small. Note the diamond distribution is relatively coarse, the number of stones drop off less rapidly from the smaller sieves sizes to the larger, however in this case it flattens from the >0.3mm and up. A larger sample is required to see if this flattened distribution continues in the larger sieve sizes. If it does that would be encouraging. A description of the diamonds is given for those 0.3mm and above, of which there are 8. Of these, 2 are grey and translucent, 5 are white to off white, and 1 is yellow. All are described as aggregates or fragments. Please note these stones are too small to be consider gem, economic stones are >1.18mm in diameter.
Table 1. Caustic Fusion Results : All Diagras Discoveries decending order of stones per 100/kg
|
Kimberlite |
0.105 mm |
0.15 mm |
0.212 mm |
0.3 mm |
0.435 mm |
0.6 mm |
0.85 mm |
1.18 mm |
Weight Kg |
Total Stones |
Stones/ 100kg |
|
Sequoia |
282 |
117 |
39 |
23 |
10 |
6 |
1 |
1 |
505.3 |
499 |
99.8 |
|
Arbutus |
29 |
19 |
5 |
2 |
4 |
2 |
0 |
0 |
143.05 |
61 |
43 |
|
Birch |
10 |
7 |
7 |
3 |
1 |
1 |
0 |
0 |
141.5 |
29 |
20 |
|
Alder |
3 |
6 |
1 |
2 |
1 |
0 |
1 |
0 |
223.72 |
14 |
6 |
|
Cedar |
1 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
90.6 |
90.6 |
1 |
A chain of custody protocol was used. Sample weights are dry weights. A total of 143.05 kg of split NQ and whole NQ core, consisting of 18 samples weighing on average, 7.9kg, were sent to the Saskatchewan Research Council’s Geoanalytical Laboratories , Diamond Services in Saskatoon. It is an Accredited laboratory.
This contrasts with the results from Sequoia where all >0.3mm stones were described as white, fragments and crystals. Based on this result, the Arbutus kimberlite warrants extra sampling and definition drilling along with investigating the neighbouring Finlay kimberlite discovered by previous explorers in the 1990,’s, but for which there is no public diamond data. Further sampling would confirm the coarse distribution. Our main focus, however, remains Sequoia and the discovery of additional kimberlites.
Microdiamonds recovered from the caustic fusion method are used by the diamond mining industry to gauge if the kimberlite has a significant diamond population by looking at the size, frequency distribution of the diamonds recovered. Those with high counts and lower small stone to large stone ratios warrant further expenditures. Grades can be predicted from this type of data, with the prediction getting more precise and accurate the larger the sample size. Little can be said about the value of the diamonds. For this larger bulk samples producing a large parcel of commercial sized diamonds is required. In this case the Joint Venture is using the microdiamond results to prioritise work between the newly discovered kimberlites.
The JV awaits the diamond results from the Spring drilling program on Sequoia these should become available over the next weeks. Once these diamond results are in hand the JV will be able to scope further work and Sequoia. The JV also plans to continue to explore for new kimberlites on the property in 2023.
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
Arctic Star is predominantly a diamond explorer, recently discovering 6 new kimberlites in the prolific Lac De Gras kimberlite field that supports 2 multi-billion-dollar kimberlite mining complexes. The Company also has a 958 Ha Exploration permit containing several diamond-bearing kimberlites on its Timantti project, Kuusamo Finland. Arctic Star has optioned its Stein diamond project in Nunavut to GGL diamonds who plans to work once Covid restrictions lift. The Company continues to look for appropriate diamond opportunities elsewhere. 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.
Patrick Power
President & CEO
Tel: +1 (604) 218-8772 | email: ppower@arcticstar.ca
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 offers high potential for numerous further diamond-bearing kimberlite discoveries; Arctic’s drilling and surveying plans and the expected outcome of those plans; that Arctic can swiftly discover more kimberlite on the property; that the Wolf kimberlites themselves may have the potential to be economic.
The Wolf kimberlite assets have not been the subject of any recent resource work, much less a feasibility study and as such there is no certainty that any future resource will be defined or that the assets will be able to produce a commercially marketable product. There is a significant risk that any future efforts at the project will not demonstrate any merit for evaluation work to progress to a defined NI 43-101 compliant resource and economic study. General risks inherent in the Project include the reliance on available data and assumptions and judgments used in the interpretation of such data, the speculative and uncertain nature of exploration and development, exploration and development costs, capital requirements and the ability to obtain financing, volatility of global and local economic climates, possible political instability, share price volatility, estimate price volatility, changes in equity markets, increases in costs, exchange rate fluctuations and other risks involved in the mineral exploration and development industry. There can be no assurance that the forward-looking statements or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors described are beyond our control. Accordingly, readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law.
