Business
North Arrow Minerals Starts Exploration Drilling Program at Loki Diamond Project, NWT
VANCOUVER, British Columbia, June 03, 2021 (GLOBE NEWSWIRE) -- North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow” or “the Company”) is pleased to announce mobi
About this update from North Arrow Minerals Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, June 03, 2021 (GLOBE NEWSWIRE) -- North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow” or “the Company”) is pleased to announce mobilization is underway for an exploration drill program at its 100% owned Loki Diamond Project in the Lac de Gras region of the Northwest Territories. The program will utilize a Hornet reverse circulation (RC) drill to test recently defined gravity targets in the north Loki area (see North Arrow news release dated March 9, 2021). The targets represent potential bedrock kimberlite sources for a regional kimberlite indicator mineral anomaly that terminates on the Loki property and forms part of what has historically been known as the South Coppermine Train. The Hornet drill is expected to be mobilized to the property over the next couple of days and drilling is planned to run for approximately 10 to 14 days. North Arrow also announces that, pursuant to North Arrow’s Stock Option Plan, the company has granted a total of 1,025,000 incentive stock options to directors, officers, employees and consultants to the Company. The stock options are exercisable to acquire one common share of North Arrow at $0.12 per share and can be exercised until June 3, 2026. About the Loki project The Loki Project is located approximately 40 km west, and 35 km southwest of the Diavik and Ekati diamond mines, respectively, and immediately west of North Arrow’s LDG Joint Venture Diamond Project with Arctic Canadian Diamond Company. Five kimberlites have been discovered within the project area, all of which have been confirmed as diamond bearing. The ground geophysical surveys on which the current drill program is based were supported, in part, by a grant from the Northwest Territories Mining Incentive Program. The Loki Diamond Project exploration program is managed by Michael MacMorran, P.Geo. (NWT/NU), Project Geologist of North Arrow. North Arrow’s diamond exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo. (NWT/NU and ON), President and CEO of North Arrow and a Qualified Person under NI 43-101. Mr. MacMorran and Mr. Armstrong have reviewed and approve the technical contents of this press release. About North Arrow Minerals North Arrow is a Canadian based exploration company focused on the identification and evaluation of diamond exploration opportunities in Ca...