SOURCE: North Arrow Minerals Inc.

North Arrow Minerals Inc.

September 12, 2017 08:30 ET

North Arrow Completes 2017 Summer Drilling and Sampling Program at the Q1-4 Kimberlite, Naujaat Diamond Project, NU

VANCOUVER, BC--(Marketwired - September 12, 2017) - North Arrow Minerals Inc. (TSX VENTURE: NAR) is pleased to announce it has completed its 2017 summer drilling and mini-bulk sampling program at the Q1-4 kimberlite at the Company's 100% owned Naujaat (now-yat; formerly Qilalugaq) Diamond Project, Nunavut. The program focused on delineation drilling and mini-bulk sampling of the twelve hectare Q1-4 kimberlite, one of the largest undeveloped diamond resources in Canada which also contains a significant population of extremely rare, potentially high value, fancy intense to vivid orangey yellow diamonds as certified by the Gemological Institute of America and Canadian Gem Labs. The Q1-4 kimberlite hosts a total Inferred Mineral Resource of 26.1 million carats from 48.8 million tonnes with an average +1 DTC total diamond content of 53.6 carats per hundred tonnes (cpht) extending from surface to a depth of 205 m (-135 metres above sea level (masl)).

The summer program, which was initiated in early July, was completed on time and on budget earlier this month and represents the first phase of a larger planned program to better define the size, grade and diamond content of the Q1-4 kimberlite in support of an economic assessment. The deposit is well located, only 9 km from tidewater and work was conducted directly from the Hamlet of Naujaat, allowing the program to be completed cost effectively without the need for a remote exploration camp.

Program Highlights:

  • $2 million 2017 summer field program completed on time and on budget including fuel and drilling resupply for 2018; a further $1 million is earmarked for laboratory costs.
  • 3,469 m of drilling completed in 11 holes confirms overall size of the Q1-4 body and better defines the size and shape of the kimberlite at depth.
  • Drilling has yielded 2,440 m of kimberlite core which will be used for petrography, indicator and microdiamond analysis and will contribute to a new geological model planned for 2018.
  • Drilling between 205 and 305 m below surface (-135 to -235 masl) confirms or expands previous interpretations of overall pipe geometry with the potential to add significant mineral resources below 205 m (-135 masl).
  • The estimated surface area of the kimberlite at 305 m depth below surface (-235 masl) is at least 5 ha and the body remains completely open to depth with the deepest drillhole terminating in kimberlite at a depth of 376 m (-311 masl).
  • A 234 wet tonne mini-bulk sample collected from a single pit, targeting an undertested area of the kimberlite will be processed this fall for macrodiamonds and will contribute to a better understanding of overall diamond value and the distribution of coloured diamonds within the Q1-4 kimberlite.

President and CEO, Ken Armstrong commented, "The field component of North Arrow's 2017 program at the Q1-4 diamond deposit has been completed on schedule and on budget, with the collection of over 2,400 m of kimberlite drill core and a 234 wet tonne mini-bulk sample. All samples have now been shipped south for processing and we look forward to seeing the impact of these results on our current model as we plan for further drilling and bulk sampling of the kimberlite in 2018."

Diamond Drilling

Eleven drill holes were completed during the program, totaling 3,469 m of drilling with approximately 2,440 m of kimberlite core recovered. The holes are part of approximately 6,000 m of planned drilling to increase confidence in the Q1-4 geological model, including the target for further exploration (TFFE) between 205 and 305 m below surface (-135 to -235 masl) outlined in the most recent May 2013 technical report on the project. Drilling tested all five phases of the kimberlite with a number of holes entering kimberlite earlier and/or staying in kimberlite longer than predicted using the current geological model. Three drill holes (17Q-007, 17Q-008, and 17Q-010) collared in kimberlite and three holes (17Q-003, 17Q-004 and 17Q-011) were terminated within kimberlite. The deepest drill hole into the kimberlite is 17Q-004 which was terminated in kimberlite at a depth of 376 m below surface (approximately -311 masl). The table below summarizes the main kimberlite intercept in each drill hole and provides an indication of how each hole compared to modelled kimberlite/country rock contacts. Further drilling is required in the spring of 2018 prior to completing a new geological model, however the 2017 drilling has confirmed the overall size of the Q1-4 kimberlite, although there will be changes to shape and internal geological contacts of the kimberlite.

               
              Kimberlite/Country Rock Contacts
Drill Hole Kimberlite Phase  End of Hole (m)  Hole Angle (°)  Hole Azimuth (°)  Modelled Entry (m) Actual* Entry (m)  Difference (m)**  Modelled Exit (m)  Actual* Exit (m)  Difference (m)**
17Q-001 A61/A28  299  -57  310  50 164  (114)  245  270  25
17Q-002 A61  296  -81  175  115 98  17  278  230  (48)
17Q-003 A48b/A88  398  -64  068  125 125  0  333  398  65
17Q-004 A48a/A48b  428  -61  053  66 23  43  316  428  112
17Q-005 A48a/A48b  326  -53  224  77 132  (55)  286  299  13
17Q-006 A28  380  -47  267  115 12  103  346  354  8
17Q-007 A28  371  -69  142  0 0  0  241  358  117
17Q-008 A28  101  -49  246  0 0  0  87  83  (4)
17Q-009 A61  238  -65  105  67 37  30  207  114  (93)
17Q-010 A61  291  -59  308  0 0  0  265  216  (49)
17Q-011 A88  333  -45  300  55 31  24  n/a  n/a  n/a

* Kimberlite intervals do not i) include kimberlite dykes encountered in some holes outside of the geological model, or ii) account for country rock dilution internal to the model in the form of country rock blocks and/or wedges. A total of nine country rock blocks (> 2.5 m up to 25 m; total: 113.7 m) were encountered in holes 17Q-001 (3), 17Q-002 (2), 17Q-003 (1), 17Q-005 (2), and 17Q-011 (1).

** Numbers represent, in metres, more or (less) kimberlite than predicted with the current geological modelled.

Mini-Bulk Sample

As reported in North Arrow news release dated July 24, 2017, a 234 wet tonne mini-bulk sample was collected from a single sample pit at the Q1-4 kimberlite. A total of 250 megabags of kimberlite were collected using a mini-excavator with kimberlite exposed beneath 0.5 m to 1.0 m of glacial till. Initial evaluation of the exposed kimberlite identified a north trending internal contact between distinct kimberlite phases and the sample was therefore divided into three subsamples: Blue Kimberlite (60 bags), Green Kimberlite (31 bags) and Mixed Blue-Green Kimberlite (159 bags). The "Green Kimberlite" (tentatively interpreted as part of the A61 phase) made up approximately 30% of the pit area and is described as a dark green, massive, very xenolith poor, very olivine rich, phlogopite coherent kimberlite with fine to very coarse macrocrysts (pre-dominantly olivine) and a good mantle sample. The Blue Kimberlite (tentatively interpreted as part of the A88 phase) is a blue-green, massive, poorly sorted, xenolith poor, olivine rich volcaniclastc kimberlite with fine to very coarse olivine and a moderate mantle sample. Further work, including petrography and indicator mineral and microdiamond analyses is required to confirm the interpretation of each unit.

The 250 mini-bulk sample bags, as well as two seacans of drill core samples, are currently en route to the Microlithics laboratory in Thunder Bay Ontario for macrodiamond, microdiamond and indicator mineral analyses. The samples are expected to arrive at the lab in early October.

As part of the 2017 program, North Arrow also commissioned archeological, ecological mapping and initial engineering surveys of potential road routes from the Company's lay down, located 1 km north of Naujaat, out to the Q1-4 kimberlite. Results of these surveys will be used to pursue permitting options for a road or winter trail to the kimberlite to take advantage of the deposit's close proximity the Hamlet of Naujaat during future evaluation and bulk sampling of the deposit.

About the Q1-4 Kimberlite

The Q1-4 kimberlite hosts a total Inferred Mineral Resource of 26.1 million carats from 48.8 million tonnes with an average +1 DTC total diamond content of 53.6 carats per hundred tonnes (cpht) extending from surface to a depth of 205 m (-135 masl). Additional resource upside has also been identified in the form of a target for further exploration for the Q1-4 kimberlite pipe of between 7.9 to 9.3 million carats from 14.1 to 16.6 million tonnes with an average +1 DTC total diamond content of 56.1 cpht, extending from 205 m depth to 305 m depth (-235 masl; please see North Arrow news release dated May 15, 2013 for details on this resource estimate).

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. North Arrow is currently evaluating a number of projects including the Naujaat (formerly Qilalugaq) (NU), Mel (NU), Pikoo (SK), LDG (NT), and Loki (NT) Diamond Projects. North Arrow also maintains a 100% interest in the Hope Bay Oro Gold Project (NU), located approximately 3 km north of TMAC Resources' new Doris Gold Mine. North Arrow's exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo. (ON), President and CEO of North Arrow and a Qualified Person under NI 43-101. Mr. Armstrong has reviewed the contents of this press release.

North Arrow Minerals Inc.

/s/ "Kenneth A. Armstrong"
Kenneth Armstrong
President and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

This news release contains "forward-looking statements" including but not limited to statements with respect to North Arrow's plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although North Arrow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. North Arrow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.

Image Available: http://www.marketwire.com/library/MwGo/2017/9/12/11G145330/Images/IMG_0151-06ccfc7392baa1cd92957bf19c2cc0bc.JPG

Contact Information