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North Arrow Minerals Reports Completion of Naujaat Project Bulk Sample
VANCOUVER, British Columbia, Aug. 19, 2021 (GLOBE NEWSWIRE) -- North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) reports that field collection of a 2,000 ton
About this update from North Arrow Minerals Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 19, 2021 (GLOBE NEWSWIRE) -- North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) reports that field collection of a 2,000 tonne bulk sample at its Naujaat Diamond Project, Nunavut is complete. Ken Armstrong, President and CEO of North Arrow commented, “Bulk sample collection from the Q1-4 kimberlite is now complete, with field crews having delivered 2,500 bulk sample bags of kimberlite to our laydown near the community of Naujaat. At approximately 2,000 tonnes, the 2,500 bags represent the high end of our anticipated tonnage range for the program and we look forward to loading the sample onto the annual Naujaat sealift in September for shipment to the processing laboratory.” Mr. Armstrong continued, “We estimate the cost to collect and transport the sample from Q1-4 to the Naujaat laydown at approximately $2.3M. This efficient program highlights the cost effectiveness of evaluating the Q1-4 kimberlite by taking advantage of its location on tidewater with excellent opportunities for local employment and accommodations. It was a pleasure working with the field crew for part of the program and seeing first-hand the tremendous effort that went into safe collection of the sample.” Sample processing and diamond recovery are expected to start in the fourth quarter of calendar 2021. Diamonds recovered from the sample are intended to confirm the size distribution and character of an important population of potentially high-value, fancy yellow to orange yellow diamonds found in the Q1-4 deposit. The $5.6M bulk sample program is funded by partner Burgundy Diamond Mines (ASX-BDM), as part of a June 1, 2020 option agreement under which Burgundy may earn a 40% interest in the Naujaat Project by funding the current bulk sample program. About the Naujaat Project The Naujaat Project is located near the community of Naujaat, Nunavut. A total of eight kimberlite pipes have been identified within the Project as well as several laterally extensive kimberlite dyke systems. The Q1-4 kimberlite, located just 7 km from the Company’s laydown near the community, is the largest and most diamondiferous of the kimberlites discovered to date and hosts an important, potentially high-value, population of Type IaA - Ib fancy coloured, yellow to orange yellow, diamonds. At 12.5 ha in surface area, Q1-4 hosts an estimated inferr...