Timantti: Arctic Star’s Premier Diamond Project
The Timantti Project, Timantti being Finnish for “diamond,” is located in Finland 17 km away from the town of Kuusamo. Arctic Star views the 100% owned Timantti project as an excellent opportunity to enter into what could be a new diamond district. A key feature of the project is the proximity to the town of Kuusamo, as well as the stability and infrastructure it affords.
The project is comprised of two Diamond Bearing Kimberlites: the Black Wolf and White Wolf Kimberlite, which are situated approximately 450 km away from the multi-billion-dollar Lomonosov and Grib mines in Russia. Roy Spencer, the geologist who discovered the multi-billion-dollar Grib Kimberlites in Russia, is the same geologist who discovered the Wolf Kimberlites, and has now joined Arctic’s Board of Directors.
Roy commented in a press-release:
“Kimberlites are likely to occur in fields – also known as clusters – which typically contain 30 or more separate kimberlites. The Wolf kimberlites are just the first discoveries in a more extensive cluster. There is good evidence for the existence of this field in the public domain. This data shows regional distribution of kimberlitic indicator minerals and diamonds in surficial tills. The Exploration Reservation will allow Arctic Star to explore the entire region.”
Arctic Star completed a Share Exchange Agreement for all the rights, title and interest to Foriet Oy, a Finnish company that has the 243-hectare exploration permit over the Wolf kimberlites. On completion of the Share Exchange, Foriet Oy became a wholly owned subsidiary of Arctic Star.
Arctic Star has also filed an application for an approximate 95,700 hectares “Exploration Reservation” around the 243 hectares property, which would give Arctic the exclusive claim staking rights for 2 years.
Buddy Doyle, Arctic Stars VP Exploration, who discovered the multi-billion dollar Diavik Mine in Canada, commented:
“The high microdiamond count, 77 stones (greater than 0.15mm), from the two small samples totaling 60.1kgs (European plus Arctic Star Caustic Fusion samples) is a significant result. Backhoe trenching results are significant because they show the Wolf pipes contain diamonds of over 1mm.”
The Timantti project is NI 43-101 compliant. The report confirmed the diamond-bearing nature of the Wolf kimberlites.