North Arrow Starts Exploration Drilling Program at Loki Diamond Project, Lac de Gras, NWT
VANCOUVER, British Columbia, March 05, 2018 (GLOBE NEWSWIRE) -- North Arrow Minerals Inc. (TSX-V:NAR) is pleased to announce the start of an exploration drilling program at the Company’s 100% owned Loki Diamond Project, Northwest Territories, located in the Lac de Gras region, approximately 30 km southwest, and 24 km west of the Ekati and Diavik diamond mines, respectively and immediately adjacent to the west of the Company’s LDG joint venture property with Dominion Diamonds.
Field crews and a diamond drill have been mobilized to site and ground geophysical surveys have been completed. Approximately 1,000 m of drilling is planned to evaluate the size potential and internal geology of the diamondiferous EG05 kimberlite and to test a number of new targets defined by ground geophysical surveys and having good kimberlite indicator mineral support. Details on these drill targets can be found in North Arrow’s February 12, 2018 presentation on the Company’s website. Drilling is expected to continue through to the end of March 2018. Funding for the drill program is being supported, in part, by the Northwest Territories’ Mining Incentive Program.
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. Armstrong has 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 Canadian diamond industry. In addition to evaluating the Loki Project, North Arrow is also preparing for exploration drilling this spring at the LDG JV Project in the NWT, and to drill test newly discovered diamondiferous kimberlite at the Mel Project (NU). The Company is also evaluating the Q1-4 kimberlite at the Naujaat Project (NU) and is awaiting till sample results from its Pikoo Project (SK). The Company 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.
/s/ “Kenneth A. Armstrong”
Kenneth Armstrong
President and CEO
For further information, please contact:
Ken Armstrong
Tel: 604-668-8355 or 604-668-8354
Website: www.northarrowminerals.com
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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.