(TheNewswire)
June 1, 2022 – TheNewswire - Vancouver, British Columbia – Arctic StarExploration Corp. (“ Arctic Star ” or the“ Company ”) (TSXV:ADD) (Frankfurt:82A2) (WKN:A2DFY5) (OTC:ASDZF) ispleased to announce that our exploration team has discovered a newkimberlite that has been named “Arbutus” on it’s Diagrasproject, Northwest Territories.
The discovery was made by testing a Class B typekimberlite target from wide helicopter supported EM survey on theDiagras project and from ground geophysical follow-up. The Class “B” targets are the 25 known kimberlites on theproperty. The historic exploration tended to assume these kimberliteswere classic single event, vertical, “carrot shaped” pipe likebodies as dictated by the kimberlite model. However, experience in theLac de Gras kimberlite field, (an 80km by 120km ellipse containing>200 kimberlites of similar age), has demonstrated that many of thekimberlites are not single, but multiple eruptive events with multiplelobes forming complexes, with complex shapes. The Class B style targethas been the focus of our exploration to date and in 2021 it led tothe discovery of 5 new kimberlites, including Sequoia, confirming theconcept.
In this case the Arbutus kimberlite was discovered bydrilling a distinct magnetic low SE of the known Finlay Kimberlite.Early description of the kimberlite is that it is a Coherentkimberlite with coarse sub centimeter olivines and abundant diamondand mantle indicator minerals and example of which is shown in Figure2. From the drill intercepts and geophysics the pipe appears about200m long and 25m wide.
Figure 1: Ground Magnetic gridded image showing theanomaly of Finlay, dark blue and Arbutus a magnetic low SE of Finlay(also dark Blue). Several drill holes were completed historically intoFinlay, by De Beers in the 1990’s. The black dot is the collar ofthe De Beers holes, the Orange dot is the collar location of theJV’s Holes 210m distant.
Figure 2: Anexample of the Coherent kimberlite recovered from drilling the ArbutusKimberlite, note the Chrome Diopside (Green) and Garnet (Burgundy Red)prominent indicator minerals, with abundant coarse olivine in a darkmatrix.
Drill Hole | From | To | Geology |
DG2022-08 | 0m | 7.8m | Till |
7.8m | 28.2m | Kimberlite | |
28.2m | 48m | Granite EOH | |
DG2022-09 | 0m | 9m | Till |
9m | 27m | Kimberlite | |
27m | 57m | Granite |
Drill hole DG2022-08 was drilled at adip of minus 50º and a bearing of 60º, DG2022-09 was drilled fromthe same collar and bearing at a 70º dip.
Qualified Person
The technical information included in this news releasehas been prepared, supervised, and approved by Buddy Doyle, AUSIMM, aQualified Person under National Instrument 43-101. Mr. Doyle is aGeologist with over 35 years of experience in diamond exploration,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.
The Diagras project is a joint venture between ArcticStar Exploration Corp. (currently 81.5%) and Margaret Lake DiamondsInc. (currently 18.5%).
ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAREXPLORATION CORP.
Patrick Power, President & CEO
+1 (604) 218-8772
ppower@arcticstar.ca
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accept responsibility for theadequacy or accuracy of this release.
Cautionary Statement Regarding“Forward-Looking” Information
This news release contains“forward-looking statements” including but not limited tostatements with respect to Arctic Star’s plans, the estimation of amineral resource and the success of exploration activities. In thisrelease it is not certain if the kimberlite discovered will beeconomic or not as this depends on many factors. Forward-lookingstatements, while based on management’s best estimates andassumptions, are subject to risks and uncertainties that may causeactual results to be materially different from those expressed orimplied by such forward-looking statements. There can be no assurancethat such statements will prove to be accurate, as actual results andfuture events could differ materially from those anticipated in suchstatements. Factors that could affect our plans include our potentialinability to raise funds as intended, and in such event we may requireall funds raised, if any, to be used for working capital rather thanthe intended uses as outlined. Accordingly, readers should not placeundue reliance on forward ? looking statements.Arctic Star undertakes no obligation or responsibility to updateforward ? looking statements, except as required bylaw.
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