Arctic Star Diamond Corp.
TSX VENTURE : ADD

Arctic Star Diamond Corp.

November 13, 2008 09:30 ET

Arctic Star Diamond Corp. Receives Assays for the Majority of Its Massive Sulphide Intercepts, Providence Nickel Discovery

Maximum Intercept of 5.1m Assaying 1.73% Ni, 1.75% Cu and 0.17% Co

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2008) - Arctic Star Diamond Corp. (TSX VENTURE:ADD) ("Arctic Star" or the "Company") is pleased to announce it has received the bulk of the assays from the massive sulphide intervals from its 1650m, 15-hole drill program at the Providence Nickel discovery Northwest Territories (NT). The results are summarized below in table 1. The discovery is located 55 kilometres west of the Ekati diamond mine, 1.2 kilometres south of Desteffany Lake and is centrally located within the Company's Credit Lake claim block.

The most extensive massive sulphide intercept of 5.1m was in drill hole 08CR18, which reported 1.73% Ni, 1.75% Cu and 0.17% Co. Combining the massive sulphide intercepts to date gives and average intercept per hole of 2m carrying 1.36% Nickel and 1.05% Copper, with maximum assays of 1.91% Nickel over 1 m in Drill hole 08CR23 and 4.1% Copper over 0.35m in drill hole 08CR18. The massive sulphides are also carrying significant amounts of Cobalt averaging 0.14% to date.

Our news release of August 13th reported platinoid mineralization from drill hole 08CR11, and this association has been confirmed in the latest round of results. Each massive sulphide intercept is carrying Palladium and Platinum. In general Palladium is more abundant than Platinum but this is not always the case. For example, a 2.25m intercept in drill hole 08CR13 is carrying 7.63 g/t Platinum and 1.06 g/t Palladium. Palladium assays more consistently above 1 g/t in the massive sulphides, Platinum values vary between 0.2 g/t and 11 g/t in the individual sulphide sample analysis. The discovery drill hole (08CR10, April, 2008) assays have been returned for the full platiniod suite using neutron activation analysis. The 0.6m massive sulphide intercept in this drill hole returned 0.14 g/t Osmium, 0.29 g/t Ruthenium, 0.19 g/t Iridium and 0.46 g/t Rhodium. It is encouraging to see the presence of these high value elements and the company has ordered an analysis of the full platinoid suite for all mineralized samples. Electron Microprobe analysis has also confirmed the presence of Iridium and Rhodium from massive sulphide intercepts in other drill holes.

Table 2, below, summarizes the disseminated sulphide mineralization assay results received to date. This information is based on ICP analysis and the Company has ordered sulphide % analysis for all Nickel ICP analyses over 1000ppm (0.1%). All the massive sulphide mineralization listed in Table 1 is surrounded by a halo of disseminated sulphide mineralization that varies from trace to 50% sulphide. The massive sulphide values reported in Table 1 are included in the calculation of the grades reported in Table 2.



Table 1: Summary of the assay results received to date from massive
sulphide intervals.

-----------------------------------------------------------------------
interval
HoleID From To (m) Ni% Cu% Co% Pt g/t Pd g/t
-----------------------------------------------------------------------
08CR-10 117.6 117.8 0.2 1.34 2.92 0.125 2.73 1.3
118.2 118.8 0.6 1.77 0.46 0.164 0.66 2.26
-----------------------------------------------------------------------
08CR-11 139.75 141.4 1.65 1.69 1 0.17 0.34 2.24
-----------------------------------------------------------------------
08CR-12 95.32 99.7 2.23 1.3 1.8 0.13 0.55 2.29
-----------------------------------------------------------------------
08CR-13 99.5 101.8 2.25 1.47 0.66 0.15 7.63 1.06
103.3 104.6 1.3 1.2 1.11 0.12 0.18 1.45
-----------------------------------------------------------------------
08CR-14 154.35 154.65 0.3 Assays awaited
-----------------------------------------------------------------------
08CR-15 139.48 139.5 0.02 Assays awaited
-----------------------------------------------------------------------
08CR-16 No massive interval
-----------------------------------------------------------------------
08CR-17 97.45 99.85 2.35 1.76 1.11 0.17 0.17 1.79
-----------------------------------------------------------------------
08CR-18 98.35 103.45 5.1 1.73 1.75 0.17 0.25 1.23
-----------------------------------------------------------------------
08CR-19 126 129.4 3.4 1.71 1.33 Assays awaited
-----------------------------------------------------------------------
08CR-20 No massive interval
-----------------------------------------------------------------------
08CR-21 58.1 60.6 1.8 1.29 0.39 Assays awaited
-----------------------------------------------------------------------
08CR-22 6.9 8.4 1.5 Assays awaited
-----------------------------------------------------------------------
08CR-23 91.4 95 3.6 1.32 1.43 Assays awaited
-----------------------------------------------------------------------
08CR-24 Assays awaited
-----------------------------------------------------------------------
08CR-25 Assays awaited
-----------------------------------------------------------------------

Samples from DDH 08CR-10 (BTW split core) were sent to ALS Chemex
laboratory in Thunder Bay, Ontario; Samples from all other drill holes
(BQTW split core) were sent to SRC Laboratories in Saskatoon,
Saskatchewan. At both laboratories the split core was crushed and
pulverized and then assayed using aqua-regia or 3-acid digestion with
atomic absorption spectrometry finish. Fire Assay was used to determine
Platinum and Palladium. Samples that assayed below 1% Ni we assayed
using an ICPMS finish. No cut-off value was used.


Drilling was designed to intersect the mineralization perpendicular to strike and at a high angle so that most of the intervals shown in Table 1 can be considered as being within 15% of true thickness. The reader should also refer to figure 1, in our October 15th news release which shows a plan map of the drill hole collars, drill hole trace and the interpreted geology.



Table 2: Disseminated mineralization results to date.

-----------------------------------------------------------------------
interval
Hole ID From To (m) Ni% Cu% Co% Pt g/t Pd g/t
-----------------------------------------------------------------------
08CR-10 105.1 110.6 5.5 0.11 0.16 0.01 0.07 0.14
117.6 123.0 5.4 0.36 0.41 0.03 0.32 0.55
-----------------------------------------------------------------------
08CR-11 135.2 147.8 12.6 0.32 0.22 0.03 0.13 0.49
-----------------------------------------------------------------------
08CR-12 95.32 99.7 4.38 0.79 1.21 0.08 0.42 1.45
-----------------------------------------------------------------------
08CR-13 99.5 105.2 5.7 1.13 0.85 0.11 3.70 1.10
-----------------------------------------------------------------------
08CR-14 146.55 152.6 6.05 0.18 0.17 0.02 0.15 0.33
-----------------------------------------------------------------------
08CR-15 113.0 115.0 2.0 0.27 1.01 0.02 0.97 1.37
135.65 141.05 5.4 0.65 0.41 0.07 0.17 0.94
-----------------------------------------------------------------------
08CR-16 No Mineralization
-----------------------------------------------------------------------
08CR-17 Assays awaited
-----------------------------------------------------------------------
08CR-18 Assays awaited
-----------------------------------------------------------------------
08CR-19 Assays awaited
-----------------------------------------------------------------------
08CR-20 Assays awaited
-----------------------------------------------------------------------
08CR-21 Assays awaited
-----------------------------------------------------------------------
08CR-22 Assays awaited
-----------------------------------------------------------------------
08CR-23 Assays awaited
-----------------------------------------------------------------------

Samples from DDH 08CR-10 (BTW split core) were sent to ALS Chemex
laboratory in Thunder Bay, Ontario; Samples from all other drill holes
(BQTW split core) were sent to SRC Laboratories in Saskatoon,
Saskatchewan. At both laboratories the split core was crushed and
pulverized and then assayed using aqua-regia or 3-acid digestion with
atomic absorption spectrometry finish. Fire Assay was used to determine
Platinum and Palladium. Samples that assayed below 1% Ni we assayed
using an ICPMS finish. A cut-off of 0.1% Nickel was used, to construct
the table, values less than 0.1% Ni where included if less than 2m
width, did not lower the average below 0.1% Ni and provided continuity
to the reported intercept.


Table 2 shows there are significant zones of disseminated nickel mineralization with associated Cu and platinoids and interestingly, as is often the case in this style of mineralization, remains relatively elevated in these less sulphidic zones. The company has recently ordered the full platiniod analysis suite for these zones as well a full acid digestion AAS finish for all ICP results greater than 0.1% Nickel.

Buddy Doyle VP Exploration said, " The company is very pleased with these results, the mineralization has proven consistent, starting at surface, and appears open in all directions. The results so far suggest we have located a nickel bearing system similar in style and character to Raglan, Thompson and Kambalda. In all these cases, nickel mineralization occurs in multiple pods that when combined, constitute economic resources. The suggestion is that this round of drilling has proven the first and when combined with our 2008 exploration data, suggests that there is great potential to find several other pods with the 21km of the Providence Ultramafic belt that occurs within our property."

The Qualified Persons, as defined by National Instrument 43-101, Mr. Kevin Kivi and Mr. Michael Senn have reviewed the content of this news release.

On Behalf of the Board of Directors

Patrick Power, President and CEO

Arctic Star Diamond Corp.

This news release contains Forward Looking Statements regarding our intentions and plans. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices and success and failure of the exploration and development carried out at various stages of the program. Readers should review risk factors applicable to junior mining exploration companies generally to understand the variety of risks that can affect the Company.

TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Arctic Star Diamond Corp.
    Patrick Power
    President and CEO
    (604) 689-1799
    (604) 689-8199 (FAX)