VANCOUVER, British Columbia, July 15, 2019 (GLOBE NEWSWIRE) -- North Arrow Minerals Inc. (TSXV-NAR) is pleased to announce the start of a summer exploration program at its 100% owned Loki Diamond Project in the Lac de Gras region of the Northwest Territories, approximately 30 km southwest, and 24 km west of the Ekati and Diavik diamond mines, respectively, and immediately adjacent to the west of North Arrow’s LDG Joint Venture Diamond Project with Dominion Diamond Mines. This three-week program will consist of prospecting, till sampling, and ground geophysics to confirm and prioritize targets for follow up exploration drilling in the winter of 2020. This exploration is supported, in part, by a grant from the Northwest Territories’ Mining Incentive Program.
Ken Armstrong, President and CEO of North Arrow, commented, “In 2018 North Arrow discovered kimberlite 465 on the Loki Project. At the time, the first new kimberlite discovery in the Lac de Gras region in over 5 years. Since then, the pace of discovery in the region has increased with the reported discovery of at least seven more kimberlites, including last week’s announcement of kimberlite in the first hole of a drilling program at North Arrow’s LDG Joint Venture Diamond Project with partner Dominion Diamond Mines. These recent discoveries show that this important diamond district remains highly prospective for the discovery of new diamond deposits. North Arrow’s summer exploration program at Loki is the first step in potentially adding to this list of recent discoveries by confirming targets for drill testing during the winter of 2020.” Please see North Arrow news releases dated April 5, 2018 and July 8, 2019 for details on North Arrow’s kimberlite discoveries mentioned above.
The Loki Diamond Project exploration program is managed and directed by Michael MacMorran, P.Geo. (NWT/NU), Project Geologist of North Arrow. North Arrow’s diamond 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. MacMorran and Mr. Armstrong have reviewed the contents of this press release.
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 global diamond industry. North Arrow’s most advanced project is the Q1-4 diamond deposit at the Naujaat Project (NU) where planning is underway for collection of a large, 10,000 tonne bulk sample. The Company has discovered and is evaluating kimberlite fields at the Mel (NU) and Pikoo (SK) Projects, is evaluating and exploring for additional kimberlites at the Loki Project (NWT) and has exposure to discovery drilling at the LDG JV Project (NWT) with partner Dominion Diamond Mines. The Company also maintains a 100% interest in the Hope Bay Oro Gold Project (NU), located approximately 3 km north of TMAC Resources’ Doris Gold Mine.
North Arrow Minerals Inc.
/s/ “Kenneth A. Armstrong”
President and CEO
For further information, please contact:
Tel: 604-668-8355 or 604-668-8354
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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.