 | | | Published : November 18th, 2014 | Arctic Announces new 100% owned Property in the heart of the Lac de Gras diamond field |
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| Arctic Announces new 100% owned Property in the heart of the Lac de Gras Diamond field | |
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November 18, 2014
Arctic Announces new 100% owned Property in the heart of the Lac de Gras Diamond field
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November 18th, 2014 - Arctic Star Exploration Corp, ("Arctic Star" or the "Company") (TSXv-ADD) is pleased to announce acquisition of 100% of the "T-Rex Property" in the Slave Craton of Northwest Territories, Canada. The T-Rex Property consists of 62 contiguous claims with an area of 54,000 hectares. The property is located in the north-eastern part of the prolific Lac de Gras kimberlite field, 22km NNE of the Diavik Diamond mine and 36km east of the Ekati Diamond mine.
The T-Rex property covers 13 known kimberlites, which are documented in mineral exploration assessment reports and government databases. Modern exploration techniques have not yet been applied around previously discovered magnetic kimberlites or on the rest of the T-Rex Property, which may hold new Diamond discovery potential.
Twenty years of Diamond exploration on the Slave Craton has proven that kimberlites can be small with complex shapes (dykes, sills, and multi-phase pipes) with complex geophysical signatures. Each kimberlite phase contains a different Diamond population, and each phase may also have a distinct geophysical signature.
Many of the >200 kimberlites discovered on the Slave Craton are magnetic discoveries, often tested with only one Diamond drill hole. Non-magnetic kimberlites are often more diamondiferous than magnetic kimberlites, and these kimberlitic phases would be missed if only magnetic anomalies were tested.
The Kennady Diamonds Property (TSXv-KDI) is a recent example of exploration success that resulted from exploring for non-magnetic kimberlite. Close-spaced airborne gravity, ground gravity, and ground EM techniques discovered high Diamond grade kimberlites adjacent and related to magnetic phases of the previously known Kelvin and Faraday kimberlites.
Arctic Star plans to apply the same exploration techniques on and around the magnetic-phase kimberlites of the T-Rex Property, with hopes of similar success.
Other exploration opportunities also exist on the new T-Rex property:
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Public assessment reports from previous work show three unexplained kimberlite indicator mineral dispersal trains that contain pyrope, chrome diopside, ilmenite, and chromite.
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On the adjacent Ekati property, 6 new kimberlites were discovered by a modern heli-borne gravity survey. One kimberlite discovery, called Impala, is significantly diamondiferous. Heli-borne gravity has not yet been conducted on the T-Rex property.
Arctic Star's VP of exploration Buddy Doyle states, "During my time as VP Exploration North American diamonds for Rio Tinto, we discovered 92 kimberlites in the Lac De Gras area and more on the Slave craton. The Diavik mine itself consists of non-magnetic kimberlite, detected by electromagnetic (EM) surveys. After discovering Diavik we went back to look at kimberlite targets where we placed only one drill hole into a magnetic target. We were then successful in finding several new non-magnetic phases next to these magnetic kimberlites. These new discoveries represented separate, usually volcanic pyroclastic events which were always more diamondiferous than their magnetic partners. We also found diamondiferous kimberlites with no magnetic and EM signature using gravity techniques. The passing of time now has given Arctic Star the opportunity to acquire prime ground with kimberlites in the Lac de Gras cluster. We plan to apply new exploration techniques, proven successful by Kennady Lake Diamonds, on the T-Rex Property. Please wish us success in this venture."
Buddy Doyle Bc App Sc Geol. MAUSIMM, the author of this press release, has 31 years' experience in geology, with much of this time focused on successful Diamond exploration. Kevin Kivi, PGeol and Qualified Person, approves the technical content of this press release.
For further information, please visit www.arcticstar.ca and or call or office at 604-689-1799.
ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAR EXPLORATION CORP.
Patrick Power
Patrick Power,
President
Forward Looking Statements:
This news release contains "forward-looking statements" including but not limited to statements with respect to Arctic Star'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 Arctic Star 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. Arctic Star undertakes no obligation or responsibility to update forward-looking statements, except as required by law.
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.
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You can view the Previous News Releases item: Mon Aug 18, 2014, Arctic Star Update On Redemption Diamond Project, NWT
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Data and Statistics for these countries : Canada | All Gold and Silver Prices for these countries : Canada | All
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Arctic Star Diamond Corp.
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EXPLORATION STAGE |
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CODE : ADD.V |
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ISIN : CA03967T1012 |
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ProfileMarket
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Arctic Star Diamond is a exploration company based in Canada. Its main exploration properties are ATTAWAPISKAT, CREDIT LAKE, SIKU, NEW BIGG and T1 (KYLE LAKE) in Canada. Arctic Star Diamond is listed in Canada. Its market capitalisation is CA$ 1.3 millions as of today (US$ 953 518, € 893 351). Its stock quote reached its highest recent level on February 28, 2003 at CA$ 1.37, and its lowest recent point on September 18, 2023 at CA$ 0.01. Arctic Star Diamond has 52 450 000 shares outstanding. |
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