Arctic Star Diamond Corp.

Published : May 10th, 2016

Arctic receives Redemption project update ...

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Arctic receives Redemption project update from North Arrow

May 10, 2016 - Arctic Star Exploration Corp, ('Arctic Star' or the 'Company') (TSXv-ADD) has received the following report on our Redemption property under option agreement with North Arrow Minerals Inc. (TSXv-NAR).

'North Arrow Minerals Inc. (TSXV-NAR) announces it has completed a spring exploration drilling program at the Redemption Diamond Project in the Northwest Territories. The property is located in the Lac de Gras region, approximately 32 km southwest of, and 47 km west of the Ekati and Diavik Diamond Mines, respectively.

A total of 1,577 m of drilling in 28 drill holes tested targets within the central part of the property near the up-ice termination of the South Coppermine kimberlite indicator mineral (KIM) train. Drilling consisted of ten Diamond drill holes (951 m) and eighteen reverse circulation (RC) drill holes (626 m). The RC drilling was completed during the latter half of the program, using a lightweight, reverse circulation drill rig that proved effective at rapidly evaluating a higher number of targets.

None of the drill holes definitively encountered a bedrock kimberlite source for the South Coppermine KIM train. The majority of geophysical targets were explained by intersections of granitoid intrusive units, particularly pegmatites, or by variable metasedimentary rocks. Follow-up plans for the property will be determined over the coming months. North Arrow is exploring the Redemption property under an option agreement with Arctic Star Exploration Corp. (TSXV-ADD), under which the Company can earn a 55% interest by incurring $5 million in exploration expenditures prior to July 1, 2017.

During the program North Arrow conducted a number of ground geophysical surveys, including surveys on several 100% owned mineral claims covering targets along trend from the Monument kimberlite cluster located to the east of Redemption. These surveys have confirmed a number of priority targets for future follow up, including exploration drilling. '

For further information on this release or other 100 percent owned projects that Arctic Star has please visit www.arcticstar.ca or contact the Company at [email protected] or 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.

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Georgia | All
Gold and Silver Prices for these countries : Georgia | All

Arctic Star Diamond Corp.

EXPLORATION STAGE
CODE : ADD.V
ISIN : CA03967T1012
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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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Corporate news of Arctic Star Diamond Corp.
5/10/2016Arctic receives Redemption project update from North Arrow
4/12/2016Arctic Star provides update for T-Rex Property
3/22/2016Arctic Star Commences Drilling At Redemption (NWT)
1/25/2016Arctic Star Prepares for 2016 Drill Program at Redemption (N...
8/5/2015Arctic Star Reports on T-Rex Property
2/5/2015Arctic Star Announces "Stein Diamond Project" Nunavut, Canad...
11/18/2014Arctic Announces new 100% owned Property in the heart of the...
4/16/2013to Commence Drilling on Its Redemption Diamond Project
1/9/2013Identifies Diamond Targets for Drilling in the Prolific Lac ...
10/1/2012Stakes 10,000 Ha in Northwest Territories
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