VANCOUVER, BC--(Marketwired - February 11, 2015) - North Arrow Minerals Inc. (TSX VENTURE: NAR) is pleased to announce that exploration drilling is underway at the Pikoo Diamond Project in central eastern Saskatchewan. Approximately 3,000 m of drilling is planned to follow up on Diamond bearing kimberlite discoveries made in 2013 and to test new targets defined by the 2014 till sampling program. Initial ground geophysical surveys of selected target areas are complete and the drill is on the property. The program is expected to run through to the end of March.
Diamonds were first discovered at the Pikoo Project in 2013 when kimberlite was identified in 9 of 10 drill holes, including the PK150 kimberlite discovery. A 209.7 kg sample from PK150 returned 745 diamonds larger than the 0.106 mm sieve size, including 23 diamonds greater than the 0.85 mm sieve size. This result confirmed that the Pikoo Project hosts significantly diamondiferous kimberlites. Please see North Arrow news release #13-20 dated November 5, 2013 for details.
Follow up exploration in 2014 included the collection of 560 till samples in an effort to better define existing kimberlite indicator mineral (KIM) trains and to identify new target areas within the property. Of particular importance, the 2014 program identified up to five new KIM trains, including two KIM trains that are well defined and terminate within the project area. North Arrow plans to drill test targets identified at the heads of these new KIM trains. The remaining three new KIM trains are also interpreted to terminate within the Pikoo Project mineral claims but are less well defined and will require additional till sampling before drill targets can be identified.
The 2015 Pikoo exploration drilling program is being conducted with Stornoway Diamond Corporation (SWY.TO) under an 80% (North Arrow) / 20% (Stornoway) participating joint venture arrangement. North Arrow's Diamond exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo., President and CEO of North Arrow and a Qualified Person under NI 43-101.
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 the Pikoo Project, North Arrow is also currently processing a 1500 tonne bulk sample from the Qilalugaq Project (NU) and evaluating each of the Redemption (NWT), Lac de Gras (NWT), Mel (NU), Luxx (NU) and Timiskaming (ON/QC) Diamond Projects.
North Arrow Minerals Inc.
/s/ "Kenneth A. Armstrong"
Kenneth Armstrong
President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility 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.