(TheNewswire)
Vancouver, British Columbia – TheNewswire - September 14, 2022 - Arctic StarExploration Corp. (TSXV:ADD) (Frankfurt:82A2) (WKN:A2DFY5) (OTC:ASDZF)(“Arctic Star” or the “Company”) ispleased to announce it has received the final caustic fusion diamondresults from drill testing the Arbutus kimberlites at the DiagrasDiamond Project ( “Diagras” ), obtained from the 2022 Springdiamond drilling program.
The Diagras project is located at prolific diamondproduction district of Lac de Gras in the Northwest Territories and isa Joint Venture (the “JV” ) between Artic Star (81.5%) andMargaret Lake Diamonds Inc. ( “DIA” ) (18.5%).
The Arbutus caustic fusion diamond results are listedin bold, in the table below, along with our other discoveries on theDiagras property to date. Scanning the table, it can quickly be seenthe Arbutus result is the second-best result to date. Mr. BuddyDoyle, VP Exploration for Arctic Star, commented, “The industry usescaustic fusion microdiamond results to determine if the kimberlite isdiamond bearing and use the number of stones per tonne, or frequency,and the size distribution to prioritise further work. If there aresufficient sample, grades can be predicted. Usually, the higher thenumber of stones per weight equates directly to high grades. Alsoimportant for grade is how quickly the diamond counts decay from thesmaller sieve size to the next largest. In this batch of results, wesee the decay flattening with and unexpected larger number of stones>0.3mm. With two 0.6mm stones reporting. The Arbutus kimberlitecould well be of economic interest if this trend continued, intolarger stone sizes. The only way to determine this is to fetch moresample by future drilling.” The laboratory also provideddescriptions of all diamonds 0.3mm in diameter and greater, of whichthere were 8. Of these, 2 are grey and translucent, 5 are white tooff white, and 1 is yellow. All are described as aggregates orfragments. Please note these stones are too small to be considergem, economic stones are >1.18mm in diameter.
Table 1. Caustic Fusion Results: AllDiagras Discoveries descending order of stones per 100/kg
Kimberlite | 0.105 mm | 0.15 mm | 0.212 mm | 0.3 mm | 0.435 mm | 0.6 mm | 0.85 mm | 1.18 mm | Weight Kg | Total Stones | Stones/ 100kg |
Sequoia | 282 | 117 | 39 | 23 | 10 | 6 | 1 | 1 | 505.3 | 499 | 99.8 |
Arbutus | 29 | 19 | 5 | 2 | 4 | 2 | 0 | 0 | 143.05 | 61 | 43 |
Birch | 10 | 7 | 7 | 3 | 1 | 1 | 0 | 0 | 141.5 | 29 | 20 |
Alder | 3 | 6 | 1 | 2 | 1 | 0 | 1 | 0 | 223.72 | 14 | 6 |
Cedar | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 90.6 | 1 | 1 |
A chain of custody protocol was used. Sample weightsare dry weights. A total of 143.05 kg of half NQcore, from drill hole 8 and full core from drill hole 9 consisting of18 samples weighing on average 7.9kg, where sent to the SaskatchewanResearch Council laboratory, in Saskatoon. There they undergo acaustic fusion process where the samples are fused in kilns under heatfor 24 hours to form a residue. The residue is then further chemicallytreated, the final product is then hand-picked for diamonds utilizinga microscope. Each sample is spiked with distinct artificial diamondsto ensure good recovery. The Laboratory is SCC accredited, (ISO/IEC17025).
The Arbutus Kimberlite is adjacent and to the south ofthe Finlay kimberlite discovered in the 1990’s. Previous workersdrilled serval holes into Finlay but never made the results public.With Arbutus proving diamond positive the JV now plans to test Finlayfor diamonds.
The JV awaits the diamond results from the Springdrilling program on Sequoia these should become available over thenext weeks. Once these diamond results are in hand the JV will be ableto scope further work and Sequoia. The JV also plans to continue toexplore for new kimberlites on the property in 2023.
Qualified Person
The Qualified Person for this news release is BuddyDoyle, AUSIMM, a Geologist of over 30 years' experience in diamondexploration, discovery, and evaluation.
About Arctic Star
Arctic Star is predominantly a diamond explorer,recently discovering 6 new kimberlites in the prolific Lac De Graskimberlite field that supports 2 multi-billion-dollar kimberlitemining complexes. The Company also has a 958 Ha Exploration permitcontaining several diamond-bearing kimberlites on its Timanttiproject, Kuusamo Finland. Arctic Star has optioned its Stein diamondproject in Nunavut to GGL diamonds who plans to work once Covidrestrictions lift. The Company continues to look for appropriatediamond opportunities elsewhere. Arctic Star has a highly experienceddiamond exploration team previously responsible for several worldclass diamond discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAREXPLORATION CORP .
“Patrick Power”
President & CEO
Tel: +1 (604) 218-8772 | email:ppower@arcticstar.ca
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
Forward-Looking Statements:
Certain statements in this pressrelease are forward-looking statements within the meaning ofapplicable securities laws. Forward-looking statements in this pressrelease include that the Timantti Project offers high potential fornumerous further diamond-bearing kimberlite discoveries; Arctic'sdrilling and surveying plans and the expected outcome of those plans;that Arctic can swiftly discover more kimberlite on the property; thatthe Wolf kimberlites themselves may have the potential to beeconomic.
The Wolf kimberlite assets have notbeen the subject of any recent resource work, much less a feasibilitystudy and as such there is no certainty that any future resource willbe defined or that the assets will be able to produce a commerciallymarketable product. There is a significant risk that any futureefforts at the project will not demonstrate any merit for evaluationwork to progress to a defined NI 43-101 compliant resource andeconomic study. General risks inherent in the Project include thereliance on available data and assumptions and judgments used in theinterpretation of such data, the speculative and uncertain nature ofexploration and development, exploration and development costs,capital requirements and the ability to obtain financing, volatilityof global and local economic climates, possible political instability,share price volatility, estimate price volatility, changes in equitymarkets, increases in costs, exchange rate fluctuations and otherrisks involved in the mineral exploration and development industry.There can be no assurance that the forward-looking statements orinformation referenced herein will prove to be accurate, as actualresults and future events could differ materially from thoseanticipated in such statements or information. Also, many of thefactors described are beyond our control. Accordingly, readers shouldnot place undue reliance on forward-looking statements or information.We undertake no obligation to reissue or update any forward-lookingstatements or information except as required by law.
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