Arctic Star Exploration Corp. receives land use permit on Redemption Project
14.05.2013 | vom Unternehmen
May 14th, 2013 - Arctic Star Exploration Corp. (TSXv:ADD) (the "Company" or "Arctic Star") is pleased to report that it has been granted a Type 'A' Land Use Permit ("LUP" or "The Permit") for the Company's 100% owned Redemption Project located in the Lac De Gras diamond district in the Northwest Territories.The Permit allows Arctic Star to drill with either one or two large (over 500kg) drill rigs, which are Heli-portable, and may be either diamond drill or reverse circulation ("RC") type rigs. During the Company's most recent drill program the company mobilised a smaller drill rig, but due to various delays, including lost days due to weather, rig break down and a lost hole, only two of the eight planned priority targets were tested. The use of a larger drill rig will give Arctic Star the flexibility to drill to greater depths and at steeper angles which increases the drills capability to sample kimberlite. The LUP, which is valid for the next five (5) years, allows Arctic Star to begin to diamond drill on its Redemption project, including the FUA claims, the ADD claims, and the Shoe leases.
In addition Arctic Star has commissioned Fugro Airborne Surveys to conduct a helicopter-borne gravity survey using their proprietary "Falcon" airborne gravity gradiometer system. Airborne Gravity Gradiometry has proven to be an exceptional tool for locating kimberlites in this region specifically, and will compliment the extensive airborne electromagnetic and magnetic data that Arctic Star has already for all of it's Lac de Gras Diamond properties. This new data, along with existing data, should prioritize the remaining six undrilled targets as well as provide new targets at the head of the still unexplained South Coppermine diamond indicator train. Now that the Company has received the LUP it can utilize a larger drill that will allow Arctic Star to test any new targets that will be generated as a result of this survey.
The author of this new release is Buddy Doyle MAusIMM a Geologist of 30 years with over 20 years of diamond exploration, the qualified person is Kevin Kivi PGeol a Geologist with 20 years experience in diamond exploration.
ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAR EXPLORATION CORP.
Patrick Power
Patrick Power, President
Forward Looking Statements
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events such as: (a) the closing of the option amendment; and (b) the likelihood that the property has gold or other commercial mineralization. Such forward-looking information can include statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Arctic. Factors which can materially change the results of the forward looking statements include factors such as the approval of the transaction by the Exchange, our ability to raise financing to pay our obligations, our ability to contract equipment and labor, current economic conditions and the state of mineral exploration and mineral prices in general . These risks and uncertainties could cause actual results and Arctic's plans and objectives to differ materially from those expressed in the forward-looking information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by law, Arctic assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.