March 26, 2018 – Arctic Star Exploration Corp (“Arctic” or the “Company”) is pleased to announce that 5 drill holes have been completed at the new kimberlite discovery, called Grey Wolf, on its 100% owned Timantti Diamond Project in Finland (the “Project”). Highlights of the drilling include:
- All 5 holes intersected kimberlite.
- Longest intercept in this drill program was 45m.
- Grey Wolf is part of an east-west 300m long chain of kimberlite open in both directions.
- Core to be sampled for diamonds.
The discovery is in close proximity to the other Wolf kimberlites in the Project area. Split core samples will be sent for caustic fusion for diamonds and diamond indicator minerals.
The following table summarizes the drill intercepts on the Grey Wolf kimberlite discovery:
Note: Co-ordinates use the KKJ system. Core diameter is 64.4mm. Maximum true widths will be approximately 70% of the drill intercepts reported if the kimberlite walls are vertical and perpendicular. The Country Rock consisted of quartzites, and greenstones, with occasional quartzite xenoliths in the kimberlite up to 1m diameter.
Visual observation of the core confirms that it contains kimberlitic indicator minerals that demonstrate that the kimberlite sampled the mantle.
As per the February 20, 2018 new release, the Grey Wolf kimberlite was discovered by excavator whilst collecting a basal till sample from the center of a 120m diameter gravity low as determined by our recently completed ground geophysical program. The drill rig was located near one of the discovery pits and commenced drilling angle holes, in the direction of the cardinal points of the compass (north-south, east-west) plus 15 degrees. The final hole was vertical. All entered kimberlite beneath a 3-4m till cover (down hole).
From the present drilling, the Grey Wolf kimberlite seems to be a 20-30m wide body on the same east-west trend as the other Wolf kimberlites to the east, and the D476 dyke to the west. The entire Wolf Pack group of kimberlites: White, Black, Grey and D476 now extend for approximately 300m. Further drilling will be required to understand the geometry and size of these bodies. There are further magnetic, EM and gravity anomalies along the same east-west trend further to the east and the west that will make interesting future drill targets.
The drill rig has now moved to the White and Black Wolf kimberlites to obtain more sample for caustic fusion micro-diamond analysis and to gain further understanding of their size and shape.
The Qualified Person for this news release is Roy Spencer, Fellow AUSIMM, a Geologist of over thirty years’ experience in diamonds.
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 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 discoveries 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
+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.
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.