Vancouver, British Columbia - July 26, 2017 (Newsfile Corp.) (Investorideas.com Newswire) Arctic Star Exploration Corp. (TSXV: ADD) (FSE: 82A1) (WKN: A2DFY5) ("Arctic Star" or the "Company") is pleased to announce that the Company has received more diamond results from the White Wolf kimberlite in Finland.
The Finnish Geological survey (GTK) has a policy of storing core from exploration and the Company was fortunate to learn that much of the core from the past drilling was available at the GTK core storage facility at Loppi, north of Helsinki. Roy Spencer, Arctic Star director was given access to the core, which was reviewed, in part re-logged and then sampled. Permission to take 48.65kg of split core for further caustic fusion analysis was given, and the samples were sent to the Saskatchewan Research Council laboratory in Saskatoon. The drill core was of NQ size and was split by core splitter, and the results are as follows.
Table 1: Micro-diamond assay results for diamond drill core recently sampled by Arctic Star, White Wolf kimberlite.
These results represent approximately 52.7m of core.
The results of the earlier due diligence surface sampling undertaken by Arctic Star are reported in table 2. In this case the samples were sent to the Microlithics Laboratory in Thunder Bay for caustic fusion analysis. These results are as follows.
Table 2: Micro-diamond assay results for the Arctic Star surface samples reported previously, White Wolf kimberlite.
Table 3: Total Micro-diamond assay results for the White Wolf kimberlite table 1 plus table 2.
Microdiamonds can be used as a predictive guide to diamond grade by constructing graphs of size (Carats or mm) versus frequency (number of stones). The majority of diamondiferous kimberlites around the world show an exponential relationship between the number of small diamonds and large diamonds and the goal at this stage of evaluation is to gather enough caustic fusion sample to construct a smooth distribution through the sieve sizes shown in the above tables. The next step will be to commence a drill program to collect more Caustic fusion samples, and delineate the size and shape of the kimberlites. This program would commence on the completion of ground geophysical surveys designed to help plan this drill program.
About Arctic Star:
Arctic Star is an experienced diamond and mineral exploration company, with diamond exploration properties in Nunavut (Stein), the NWT (Diagras and Redemption) and in the Athabasca Basin of SK. The Company has been planning and de-risking its entry to Finland over the last year, and is pleased to present what it believes is the pre-eminent new field opportunity to shareholders in the Timantti Project.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.
Patrick Power, President
+1 (604) 689-1799
Qualified Persons: The content of this news release has been read and approved by Roy Spencer, FAusIMM, a Director of the Company who is the qualified person for this news release.
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.
Certain statements in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release include that the Timantti Project offers high potential for numerous further diamond-bearing kimberlite discoveries; Arctic's drilling and surveying plans and the expected outcome of those plans; that Arctic can swiftly discover more kimberlite on the property; that the Wolf kimberlites themselves may have the potential to be economic; that the transaction will receive TSX approval and will close; the statements that Mr. Spencer will be a strong addition to the ADD discovery team, that the Exploration Reservations contiguous with the acquired claim package would be able to be explored.
Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement. Specific risks included that we may not be able to finance our intended acquisition or intended exploration and we may not obtain regulatory approval for the transaction.
The Wolf kimberlite assets have not been the subject of any recent resource work, much less a feasibility study and as such there is no certainty that any future resource will be defined or be able to produce a commercially marketable product. There is a significant risk that any future efforts at the project will not demonstrate any merit for work to evaluate for a defined NI 43-101 compliant resource and economic study. General risks inherent in the Project include the reliance on available data and assumptions and judgments used in the interpretation of such data, the speculative and uncertain nature of exploration and development, exploration and development costs, capital requirements and the ability to obtain financing, volatility of global and local economic climates, possible political instability, share price volatility, estimate price volatility, changes in equity markets, increases in costs, exchange rate fluctuations and other risks involved in the mineral exploration and development industry. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond our control. Accordingly, readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law.
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