Sep 14, 2016

North Arrow Releases Update on Summer Exploration at Diamond Projects in Canada

North Arrow Minerals Inc. has released an update on several of its exploration projects and activities that were completed over the preceding summer months in Canada and stated that the results of these 2016 till sampling programmes will be availble over the next few months.

The Company, which has focused on the identification and evaluation of diamond exploration opportunities in Canada, had primarily focused on activities in Pikoo, Mel and Redemption diamond projects in the region as well as begun exploration work at the new Loki Diamond Project located in the Lac de Gras area of the Northwest Territories.

At Pikoo, 101 till samples were collected from four target areas where an evaluation of past results suggests that undiscovered kimberlites may be present. This year Stornoway Diamond Corporation which had a 20% stake in Pikoo opted not to participate so the activity was carried out solely by North Arrow, which may lead to its stake rising to approximately 85%, the Company said.

At Mel, 111 till samples were collected to follow up anomalous kimberlite indicator mineral (KIM) counts identified by previous till sampling. These were over an area extending up to 2 km further up ice from the anomalous 2015 samples in an effort to fully define the up ice cut off of these KIM trains. North Arrow intends to apply for the required permits to allow for exploration drilling of targets on the property.

North Arrow has relinquished its option to earn an interest, from Arctic Star Exploration Corp., in the Redemption Project while electing to retain a 55% interest in one of the mineral claims. Additionally, it has identified new target areas to the south and east of Redemption and retains a 100% interest in 13 mineral claims which comprise the new Loki Diamond Project. A brief till and esker sampling program was conducted at the Loki Project in August with 56 samples collected to provide an initial evaluation of identified target areas.

Ken Armstrong, President and CEO of North Arrow, stated, “North Arrow has completed an active summer of exploration, primarily focused on till sampling programs at three projects, including its new Loki Diamond Project located in the Lac de Gras area of the Northwest Territories.”