Apr 8 2014
North Arrow Minerals Inc. is pleased to announce it has commenced a program of ground geophysical surveys at the Redemption Diamond Project in the Northwest Territories. The property is located 32 km southwest of, and 47 km west of the Ekati and Diavik diamond mines, respectively.
The current exploration program will consist of ground geophysical surveys over selected targets that have been prioritized based on results of a 2013 airborne gravity gradiometry survey as well as a review of earlier acquired airborne and ground magnetic and electromagnetic geophysical datasets. Targets have been further prioritized based on their location with respect to the up ice termination of the South Coppermine kimberlite indicator mineral (KIM) train which represents one of the last well defined and unsourced KIM trains in the Lac de Gras region. A total of twenty-one grids are planned for the program, covering approximately 40 individual targets. The program is scheduled to run for approximately 28 days and the survey results will be used to select targets for follow up exploration, including drilling.
North Arrow is exploring the Redemption property under an option agreement with Arctic Star Exploration Corp. (TSXV-ADD), under which the company can earn a 55% interest by incurring $5 million in exploration expenditures prior to July 1, 2017, including a firm commitment to spend $1,000,000 prior to July 1, 2014.
About North Arrow Minerals
North Arrow is a Canadian based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada. North Arrow's management, board of directors and advisors have significant successful experience in the Canadian diamond industry. In addition to the Redemption Project, North Arrow is planning the collection of a 1,500 tonne bulk sample from the Q1-4 kimberlite at its Qilalugaq (NU) Project and is also evaluating each of the Pikoo (SK), Lac de Gras (NWT), Mel (NU), Luxx (NU) and Timiskaming (ON/QC) Diamond Projects.
North Arrow Minerals Inc.
Kenneth Armstrong, President and CEO
Source: http://www.northarrowminerals.com/