February 6, 2018 – Arctic Star Exploration Corp is pleased to announce the discovery of a new kimberlite on its 100% owned Timantti Diamond Project in Finland. Further investigation of a drill core sample from a previous explorer held in the core archive of the GTK (the Finnish Geological Survey) at Loppi, Finland, has confirmed the kimberlite discovery.
Finnish kimberlite expert Dr Hugh O’Brien of the GTK has undertaken petrographic and mineralogical examinations to confirm the new discovery. The new kimberlite is located approximately 230m west of the diamond bearing Black Wolf Kimberlite. There’s no record of this drill core being announced to the public.
In June 2005, previous explorer Karhu Mining Oy, drilled a geophysical magnetic target. Hole D476 intersected a meter of kimberlite in an inclined (-45°) hole located within a zone of extensive alteration and brecciation. Dr O’Brien has conducted a detailed petrographic and mineralogical examination of the core from hole D476 and has confirmed that the kimberlite is “A micaceous Group II kimberlite importantly containing abundant indicator minerals including olivine macrocrysts 5mm in diameter.”
Dr O’Brien further stated “This kimberlite is very similar in texture and mineralogy to the rocks that form the diamond-bearing Wolf kimberlites. The existence of this kimberlite close to the Wolf kimberlites strongly indicates that the area is part of a kimberlite field and that the prognosis for additional discoveries in the area is quite high.”
Roy Spencer stated “As has been previously expressed by myself and supported now by kimberlite expert Dr Hugh O’Brien, kimberlites typically occur in fields or clusters and this exciting discovery 230 meters away from the Wolves strongly supports the thesis that we are looking at such a field here north of Kuusamo. With only a single intersection we do not yet know what form this kimberlite will take but we suspect that the body has not been investigated any further previously, and are glad to add another kimberlite to the pack.”
About Arctic Star
The Company owns 100% of the recently acquired Timantti Diamond Project including a 243 Ha Exploration Permit and a 95,700 Ha Exploration Reservation near the township of Kuusamo, in Finland. The project is located approximately 450km NW of the operating Grib Diamond Mine in Russia. Arctic is commencing its exploration in Finland on the Timantti Project, where two diamondiferous kimberlites 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 numerous world class diamond discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.
Scott Eldridge, President & CEO
+1 (604) 722-5381
scott@arcticstar.ca
Patrick Power, Executive Chairman
+1 (604) 218-8772
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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.
Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement. Specific risks included that the Timantti Project does not contain as much promise as expected or that despite promise, its minerals cannot be economically mined.
There can be no assurance that a forward-looking statement 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 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.
