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News Release - July 19,
2019 4:49 PM ET
Arctic Star Exploration Corp. discovers new kimberlites at Timanti Diamond
Project, Finland
NEW YORK, NY, July 19, 2019 /Sector Newswire/ --
Arctic Star Exploration Corp. (TSX-V: ADD) (F: 82A1) (US Listing:
ASDZF) this week announced that it has discovered more
kimberlites, by excavator, at its flagship 100%-owned Timantti
Project located in Northern Finland. The geological firm GTK has
confirmed the presence of garnets and pseudomorphs of olivine in
samples from the new kimberlites. These new kimberlites appear
similar in colour and makeup to ADD.V's diamondiferous Wolf kimberlites. Laboratory analysis is pending. The 2019 kimberlite
exploration program is highly prospective for major
discovery. Arctic Star is also the subject of a Mining MarketWatch
Journal review of the opportunity, the full review may viewed at
https://miningmarketwatch.net/add.htm online.
The following is excerpt
copy of July 16, 2019 news release of exploration update from Arctic
Star:
Arctic Discovers More Kimberlites, By Excavator, Timanti
Project, Finland
July 16th, 2019 –
Vancouver, British Columbia – Arctic Star Exploration
Corp. (“Arctic Star” or the “Company”) is pleased to
announce that recent trenching work by excavator on its
Timantti project, Finland, has resulted in the discovery
of two new kimberlites.
These kimberlites occur near the Vasa dykes also
discovered by Arctic Star by excavator in 2018 and
located 2 kilometres north of the Wolf (Black, Grey and
White Wolf) kimberlites.
The recent excavator has exposed 2 new heavily weathered
clayey kimberlite bodies both less than 1.5 metres from
the land surface in a heavily forested area. The bodies
are located approximately 140 metres (named the “Plug”)
and 450 metres (named “Karhu”) respectively west of the
2018 Vasa dyke discoveries and do not appear to be
physically connected to these dykes. The Karhu (“bear”
in Finnish) discovery has been confirmed as kimberlitic
by the GTK (Geological Survey of Finland) scientists in
Helsinki whom the company has engaged to assist in the
exploration programme. Final confirmation of the Plug
body awaits GTK confirmation and laboratory analysis.
The Karhu body comprises yellowish coloured clayey
kimberlite (yellow ground) and had previously been
identified as a target in the detailed ground magnetic
surveys undertaken by the company’s geophysical
consultants. This yellow ground is very similar to that
encountered at the Wolf Pack bodies to the south. The
GTK scientists have confirmed the presence of garnets
and pseudomorphs of olivine in the sample.
The yellow clayey material recovered from the Plug body
appears to be identical to that found at Karhu and the
company geologists are confident this is also a new
kimberlite discovery.
This phase of the trenching programme has involved the
digging of a total of 7 individual trenches covering
approximately 400 metres of excavations. A total of 17
samples have been collected from these trenches, 2 from
the Karhu and Plug bodies, and a further 15 from other
clay rich zones also discovered in the trenches. All 17
samples will be sent to a local laboratory for detailed
geochemical analysis. These samples are in transit to
Helsinki.
These discoveries occur “up ice” of an anomalous till
sample that contains numerous indicator minerals where
electron micro-probe results have indicated high
potential for diamondiferous source rocks up-ice. The
chemistry of the indicator minerals extracted from the
diamondiferous 2018 Vasa Dyke discoveries did not match
the chemistry of this till anomaly and the source of the
high-quality indicator minerals remained to be
discovered. This indicator mineral mismatch was thus
strong evidence for the presence of as yet undiscovered
kimberlites up-ice of the Vasa dykes, and explaining why
the company has persisted in exploring in this area. The
company is now waiting to find out if these new
kimberlite discoveries echo the chemistry of the
positive till anomaly.
These new discoveries further serve to confirm that
Arctic Star is dealing with multiple kimberlite
occurrences in a field and bodes well for more
discoveries.
The current excavator work will continue into early
August and will be followed up with ground geophysics
and drilling.
The company is strategically planning to do more work
through the fall to search for additional kimberlites
and to define the size, shape and diamond content (with
caustic fusion analysis) of these latest discoveries.
Mr. Buddy Doyle said, “I
continue to be amazed that we can discover kimberlites
using the very inexpensive excavator technique. This is
the most efficient diamond exploration work I have been
involved with in my 38 years of looking for economic
diamond deposits. I thank our team in Finland led by Roy
Spencer for their continued efforts.”
The Qualified Person for this news release is Roy
Spencer, Fellow AUSIMM, a Geologist of over thirty
years’ experience in diamonds.
About Arctic Star
The Company owns 100% of the recently acquired Timantti
Diamond Project including a 243 Ha Exploration Permit
and a 95,700 Ha Exploration Reservation near the
township 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
discoveries in a large kimberlite field. The Company
also controls diamond exploration properties in Nunavut
(Stein), the NWT (Diagras and Redemption) and a rare
metals project in BC (Cap).
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, CEO, President
+1 (604) 218-8772
ppower@arcticstar.ca
...click
here for full copy from source |
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.
Arctic Star has already proved-up
three diamondiferous kimberlite bodies within the Exploration
permit, named White, Black and Grey Wolf, respectively, and three
kimberlite dykes. Following caustic fusion processing 1,746 diamonds
were found in 987.06kg of samples from four kimberlites, and curve
analysis yields +1.18mm stones in each kimberlite. Three of the
kimberlites, known as 'the three wolves', are within 300 metres of
each other, they were found under only 1 to 3 metres of overburden,
only a few hundred metres off the highway, and adjacent to power.
Analysis of the distribution of microdiamonds from caustic fusion of
samples from Arctic Star's best grading kimberlite structure, named
the White Wolf, yielded ~0.7 carats/T (+/- ~20%) commercial stones,
an earmark of if not a future mine on its own, certainly part of a
future mine. The Company's 2019 exploration plan is to prove the
Timantti Project has world-class size potential by confirming more
kimberlites; the exploration team are in the process of testing
several near-surface anomalous targets that are so apparently
indicative it is difficult to think what else the anomalies could be
other than more kimberlite bodies.
Exceptional infrastructure: Arctic Star is able to explore
for diamonds at Timantti for ~1/3 the cost of what most others spend
in elsewhere due to the projects location proximal to exceptional
infrastructure (roads, airport, town, power). There are regular
flights from Helsinki to the local town of Kuusamo (population
~16,000); its possible to take a taxi from the airport to Arctic
Star's first kimberlite discovery in ~20 minutes. Additionally
noteworthy, in 2018 two of the kimberlites were discovered simply by
excavating anomalies with a backhoe.
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).
SOURCE: Sector Newswire editorial
editorial@SectorNewswire.com
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