Arctic Star Announces
Initial Results from 2019 Diamond Exploration Program, and CEO Update Interview
The Spring breakup, now underway, is expected to
result in Arctic Star excavating kimberlite targets beginning in the last
week of May at its flagship 100%-owned Timantti Project located
in Northern Finland. Unique to the Timantti Diamond Project is
the ability of Arctic Star to discover kimberlites with the use
of backhoe, as targets are near surface under nominal
NEW YORK, NY, May 17, 2019 /Sector Newswire/ -- Arctic Star Exploration Corp. (TSX-V: ADD) (F: 82A1) (US Listing:
ASDZF) this week announced that it has received preliminary
results from its regional esker sampling program from its flagship 100%-owned Timantti Project located in Northern Finland
(copy of that release may be viewed further below).
Results affirm the coming back-hoeing of kimberlite targets, set to
begin in the later part of May, is highly prospective for major
discovery. Additionally, last week, Arctic Star Exploration's CEO provided an
update interview on activities at Timantti.
Arctic Star's 2019 kimberlite exploration program is currently
Timanti. Timantti is located 17 km from the town of Kuusamo Finland,
and only ~450 km SE of the multi-billion dollar producing Lomonsov
and Grib diamond mines in Russia. 'Timantti' is the Finnish word for
diamond, and Arctic Star is now in the center of what could continue
into a Tier 1 discovery -- having already discovered significant
diamantiferous kimberlite. The large land package consists of a 243
hectare Exploration Permit and a 193,700 hectares Exploration
Reservation. The caliber of the exploration professionals that are
associating themselves and reputations to the project is impressive,
they include the former lead geologists that discovered Diavik
diamond mine in Canada, and the nearby Grib diamond mine in Russia.
Above: Location of kimberlite bodies
on Arctic Star's Timantti, and location map, note same geological
belt as Grib & Lomonosov mines.
Below are two recent interviews with
Arctic Star Exploration's CEO, Patrick Power which discusses both
the flagship Timantti Diamond Project in Finland(100%-owned) and Diagras Property
in NWT Canada (40%-owned).
Two recent interviews of Artic Star Exploration Corp.
President and CEO Patrick Power
Noteworthy insight from above
interviews on the 100%-owned flagship Timantti Diamond Project in
Arctic Star's Timantti Property is
part of the Karelian Craton, same as the Grib Diamond Mine in
One of Arctic Star’s Directors and
head of the program is Roy Spencer, he is responsible for having
discovered the Grib Diamond Mine and is looking to replicate
that success now at Timanti.
There are excellent mineral trains
leading into Arctic Star’s ground. The chemistry of the Timanti
property is similar to Grib.
Arctic Star is able to explore for
diamonds at Timantti for less than what most others spend
elsewhere due to the projects location proximal to exceptional
infrastructure (roads, airport, town, power). It is possible to
take a taxi from the airport to Arctic Star's first kimberlite
discovery in ~20 minutes. Additionally noteworthy, is that
kimberlite bodies have been discovered simply by excavating
anomalies with a backhoe.
Current program has ADD excavating
kimberlite targets. Any targets will be followed up with
drilling to delineate and have core that can undergo caustic
year’s fusion program, which was only 409 Kg, which is kind of
akin to a little coffee table in size, produced 1300 diamonds,
and some of those were commercial size – which was exciting,
because it was a very small sample. The diamond curves for White
Wolf in particular are very good and its not about discovery
anymore -- it’s about building tonnage. So, we’re really at a
really critical point, this program could produce new
kimberlites that can give us tonnage – we have a minimum tonnage
we can move forward at, so we’re getting close to that."
The Spring breakup is expected to
result in Arctic Star excavating kimberlite targets in the last
week of May. Unique to the Timantti Diamond Project is the
ability of Arctic Star to discover kimberlites with the use of
backhoe, as targets are near surface under nominal overburden.
Excerpt from recent (May
2019) news release from Arctic Star regarding its Timantti Property:
First Results from 2019 Program in Finland
May 14, 2019 – Vancouver, British Columbia –
Arctic Star Exploration Corp. (“Arctic
Star” or the “Company”) is pleased to
announce that it has received preliminary
results from its regional esker sampling
program from its 100% owned Timantti Project
in Finland. The Timantti Project consists of
two exploration permits surrounded by two
exploration reservations totaling 193,700
Hectares near the township of Kuusamo. Last
year the company located three
diamondiferous kimberlite bodies within the
exploration permit, named White, Black and
Grey Wolf respectively, and three kimberlite
dykes. Fusion from 409.3 kg of kimberlite
from these new discoveries yielded 1,032
diamonds. Preliminary results from the esker
sampling have highlighted at least three
separate areas away from the known
kimberlites anomalous in diamond indicator
minerals, strong evidence suggests there are
many more kimberlites to be found.
Kimberlite is the volcanic rock which hosts
diamonds and predominantly occurs in
groupings averaging a minimum of 30 pipes.
Eskers are the sand gravel remnants
of sub glacial melt water river systems
dating from the end of the ice age. The
company used the publicly available Lidar
surveys completed by the Finnish government
to map and identify the eskers and plan the
sampling program. The company subsequently
collected 19 samples that were distributed
as evenly as possible within the exploration
reservations. The main purpose of the esker
sampling was to determine the areal extent
of the kimberlite field as efficiently as
Encouragingly the esker samples near
the known kimberlites “light” up with
diamond indicator minerals. A similar
anomaly occurs in an esker system 20km to
the North East of the Wolf kimberlites, and
two other anomalies occurs 20km and 40km SSE
of the Wolf kimberlites respectively.
The eskers samples where processed at
CF Minerals in Kelowna, BC using heavy
liquids and magnetic separation. The results
reported here are from observing and probing
50% of the silicate minerals found in the
concentrates. The results for the remaining
50% and the oxide minerals are awaited.
The four esker anomalies consist of
Pyrope, Garnet, Fosteritic Olivine,
Clinopyroxene and Orthopyroxene with
chemistry consistent as being derived from
the deep lithosphere.
These new areas will be followed up
by closer spaced esker sampling, till
sampling and will allow the company to focus
planned airborne geophysical surveys.
A program of geophysics and testing
magnetic anomalies with an excavator has
commenced. Results are expected within 3-4
weeks and will be reported as received.
Kimberlites with significant diamonds
will be slated for diamond drill testing to
determine size, and promising magnetic
anomalies that could not be trenched due to
till depth will also be drill tested.
Qualified Person The technical data in this news
release has been reviewed and approved by
Buddy Doyle, a diamond geologist with over
30 years of experience, a Qualified Person
under the provisions of National Instrument
About Arctic Star The Company owns 100% of the recently
acquired Timantti Diamond Project including
a 243 Ha Exploration Permit and a 193,700 Ha
Exploration Reservation near the town of
Kuusamo, in Finland. The project is located
approximately 550km SW of the operating Grib
Diamond Mine in Russia. Arctic has commenced
its exploration in Finland on the Timantti
Project, where four diamondiferous
kimberlite bodies may represent the first
finds in a large kimberlite field. The
Company also controls diamond exploration
properties in Nunavut (Stein), the NWT (Diagras
Arctic Star has a highly experienced
diamond exploration team previously
responsible for several world class diamond
ON BEHALF OF THE BOARD OF DIRECTORS
OF ARCTIC STAR EXPLORATION CORP.
This release may
contain forward-looking statements regarding future events that
involve risk and uncertainties. Readers are cautioned that these
forward-looking statements are only predictions and may differ
materially from actual events or results. Articles, excerpts,
commentary and reviews herein are for information purposes and are
not solicitations to buy or sell any of the securities mentioned.
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