Arctic Star Exploration Corp. (“Arctic Star” or the “Company”) (TSXV: ADD) (Frankfurt: 82A2) (WKN: A2DFY5) (OTC: ASDZF) is pleased to announce that it has made a new kimberlite discovery, on the Diagras project in the Lac de Gras kimberlite field NWT 380km north of Yellowknife. The discovery has been named the Sequoia Kimberlite.
It was discovered by drilling a vertical hole into a portion of an EM and gravity anomaly that in combination extends for 1km north to south and 200m wide. The Jack Pine kimberlite lies at the southern end of this anomaly. It was discovered in the 1990s by drill testing a distinct magnetic low anomaly, (strongly magnetic and negatively polarized), that appears unrelated to the new discovery where there is no magnetic anomaly. The Jack Pine kimberlite is known to contain diamonds. Together, the Sequoia and Jack Pine appear to form a large kimberlite complex.
The Sequoia discovery drill hole was drilled vertically, through 7 m of water and 21 m of overburden. The hole completed at 154m still in kimberlite. Indicator minerals, such as pyrope garnet, eclogitic garnet, clinopyroxene, and ilmenite, have been observed in the core. The kimberlite is coarse grained exhibiting centimeter size olivine macrocrysts.
All core containing kimberlite will be split and sent will be sent for caustic fusion to recover diamonds.
The rig is moving further north to test another portion EM and gravity anomaly.
The Qualified Person for this news release is Buddy Doyle, AUSIMM, a Geologist of over 30 years’ experience in diamond exploration, discovery, and evaluation. A Qualified Person under the provisions of National Instrument 43-101.
About Arctic Star
Arctic Star has commenced exploration in Lac de Gras NWT on its Diagras Diamond Project next to the producing Diavik & Ekati diamond mines. The Company also owns 100% of the 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. The Company also controls drill ready diamond exploration properties in Nunavut (Stein).
ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAR EXPLORATION CORP.
Patrick Power, President & CEO
+1 (604) 218-8772
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.
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains “forward-looking statements” including but not limited to statements with respect to Arctic Star’s plans, the estimation of a mineral resource and the success of exploration activities. In this release it is not certain if the kimberlite discovered will be economic or not as this depends on many factors. Forward-looking statements, while based on management’s best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Factors that could affect our plans include our potential inability to raise funds as intended, and in such event we may require all funds raised, if any, to be used for working capital rather than the intended uses as outlined. Accordingly, readers should not place undue reliance on forward‐looking statements. Arctic Star undertakes no obligation or responsibility to update forward‐looking statements, except as required by law.