Finland capital

Zimtu Capital: Arctic Star Begins Drilling on Diagras Diamond Property, Northwest Territories

Strong points

  • Drilling has started on the Sequoia Kimberlite complex.

  • Phase 2 of the helicopter-borne electromagnetic and magnetic survey is complete.

  • Preliminary data shows previously untested kimberlite type targets as well as evidence of untested portions of known kimberlites.

  • Ground geophysical teams have begun surveys to refine airborne targets in preparation for drill tests.

April 26, 2022 – TheNewswire – Vancouver, British Columbia – Arctic Star Exploration Corp. (“Arctic Star” or the “Company”) (TSXV:ADD) (Frankfurt:82A2) (WKN:A2DFY5) (OTC:ASDZF) is pleased to announce that the HQ diameter diamond drilling program has commenced on the first hole located 22 meters south of the original 2021 discovery hole. The drill pattern is designed to drill a vertical hole up to 200 meters into the interpreted east-west center of the kimberlite. Following the completion of the first hole, a 2nd and 3rd angled hole will be drilled from the same site east and west until they exit the kimberlite. These are designed to find the host rock contacts of the north-south trending kimberlite complex. We plan to begin infill work on 200 meter and then 100 meter centers along the Sequoia Complex. This work, when completed, will provide an initial estimate of the geology, geometry and tonnage of the kimberlite complex. Detailed core logging will define the different phases of the kimberlite and caustic fusion micro-diamond analysis will determine the different diamond grades and populations.

The final results from this inaugural delineation drill program will be used to design a 2023 bulk sample to determine the diamond’s value and further refine the grade.

Phase 2, the high resolution “Resolve” airborne survey piloted by Xcalibur with 75m spacings is now complete, with full coverage over the entire 48,346 ha Diagras property. The data is used to discern two types of drill targets. Class “A” targets are new kimberlite type anomalies that have not been drill tested before. The new geophysical data reveals several in the magnetic and electromagnetic data. Figure 1 and Figure 2 are examples of this style of target.

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Figure 1: Airborne geophysical sideplates showing the Sequoia Kimberlite Complex and two new high priority targets

Class “B” targets have been the focus of our work on the property to date. Here, previous explorers discovered 25 kimberlites in the 1990s, but many of these kimberlites were tested as a single classic, vertical, carrot-shaped pipe event, however, the experiment in the kimberlite field Lac De Gras (an 80 km by 120 km ellipse containing more than 200 kimberlites of similar age, of which approximately 20 are mined or in a mine plan, processed at the Ekati and Diavik centers), demonstrated that many kimberlites are not single, but multiple eruptive events with multiple lobes forming complexes, with complex shapes. The 2021 exploration program confirmed this concept with the discovery of five new kimberlites near known bodies, with the Sequoia kimberlite complex being the largest and having the highest diamond count. The new 75m spaced airborne data now available will bypass examination of the remaining known kimberlites and surrounding areas. Figures 3 and 4 show examples of this type of target.

The recently launched detailed ground geophysical program will initially focus on type “A” targets near Sequoia. The Ekati and Diavik mines have economical kimberlite groupings and clusters within miles of each other and we want to give nature a chance to deliver that into Sequoia’s orbit. We will then move on to class “B” type targets and convincing class “A” type targets outside of this orbit. Once multiple targets are set, the drill will leave Sequoia to test them, then return to Sequoia to complete the drilling season.

The Diagras project is a joint venture between Arctic Star Exploration Corp. (81.5%) and Margaret Lake Diamonds Inc. (18.5%).

Qualified person

The Qualified Person for this press release is Buddy Doyle, AUSIMM, a geologist with over 35 years of experience in diamond exploration, discovery and appraisal. A qualified person under the provisions of National Instrument 43-101.

About Arctic Star

Arctic Star is primarily a diamond explorer, having recently discovered 5 new kimberlites in the prolific Lac De Gras kimberlite field which supports 2 multi-billion dollar kimberlite mining complexes. The company also holds a 958 ha exploration license containing several diamondiferous kimberlites on its Timantti project, Kuusamo Finland. Arctic Star has optioned its Stein diamond project in Nunavut to GGL Resources Corp which plans to work once Covid restrictions are lifted.

ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.

“Patrick Power”

Patrick Power, President and CEO
+1 (604) 218-8772
[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.