|By Marketwired .||
|April 7, 2014 08:31 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/07/14 -- North Arrow Minerals Inc. (TSX VENTURE: NAR) is pleased to announce it has commenced a program of ground geophysical surveys at the Redemption Diamond Project in the Northwest Territories. The property is located 32 km southwest of, and 47 km west of the Ekati and Diavik diamond mines, respectively.
The current exploration program will consist of ground geophysical surveys over selected targets that have been prioritized based on results of a 2013 airborne gravity gradiometry survey as well as a review of earlier acquired airborne and ground magnetic and electromagnetic geophysical datasets. Targets have been further prioritized based on their location with respect to the up ice termination of the South Coppermine kimberlite indicator mineral (KIM) train which represents one of the last well defined and unsourced KIM trains in the Lac de Gras region. A total of twenty-one grids are planned for the program, covering approximately 40 individual targets. The program is scheduled to run for approximately 28 days and the survey results will be used to select targets for follow up exploration, including drilling.
North Arrow is exploring the Redemption property under an option agreement with Arctic Star Exploration Corp. (TSXV-ADD), under which the company can earn a 55% interest by incurring $5 million in exploration expenditures prior to July 1, 2017, including a firm commitment to spend $1,000,000 prior to July 1, 2014.
About North Arrow Minerals
North Arrow is a Canadian based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada. North Arrow's management, board of directors and advisors have significant successful experience in the Canadian diamond industry. In addition to the Redemption Project, North Arrow is planning the collection of a 1,500 tonne bulk sample from the Q1-4 kimberlite at its Qilalugaq (NU) Project and is also evaluating each of the Pikoo (SK), Lac de Gras (NWT), Mel (NU), Luxx (NU) and Timiskaming (ON/QC) Diamond Projects.
North Arrow Minerals Inc.
Kenneth Armstrong, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking statements" including but not limited to statements with respect to North Arrow's plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although North Arrow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. North Arrow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.
North Arrow Minerals Inc.
President and CEO
604-668-8355 or 604-668-8354
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