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News Release - May 17, 2019 4:49 PM ET 

 

 

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 overburden.

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 underway at 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

April 2019

 

Above: April 2019 Interview video, [share URL https://youtu.be/0iJYdUMnWdc ]

 

May 2019

 

Above: May 2019 Interview video, [share URL https://youtu.be/BVoOd45uPvk ]

 

Noteworthy insight from above interviews on the 100%-owned flagship Timantti Diamond Project in Finland:

  • Arctic Star's Timantti Property is part of the Karelian Craton, same as the Grib Diamond Mine in Russia.

  • 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 fusion.

  • Quote: "Last 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 14, 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 possible.
 

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 43-101.

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 and Redemption).

Arctic Star has a highly experienced diamond exploration team previously responsible for several world class diamond discoveries.

ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.
 
Patrick Power, President & CEO
+1 (604) 218-8772
ppower@arcticstar.ca

 

...Click Here for full copy of release from source.

 

 

 

The following has been identified for additional DD on Arctic Star Exploration Corp.:

 

- Company website: https://www.arcticstar.ca

 

- SEDAR filings: https://sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00016216

 

- Recent Mining Journal Review: https://miningmarketwatch.net/add.htm online.

 

 

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. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL(s).

 

 

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