North Arrow Reports Exploration Underway, LDG Joint Venture Diamond Project, Lac de Gras, NWT
February 27 2020 - 7:00AM
North Arrow Minerals Inc. (TSXV-NAR) is pleased to
report it has been notified that a geophysical survey program is
underway at the LDG Joint Venture Diamond Project, a prospective
147,200 hectare joint venture property located just south of the
Diavik Diamond Mine in the Northwest Territories.
These ground geophysical surveys are part of an
approved $3.5M 2020 exploration program designed to continue with
systematic exploration of the joint venture project including at
least 2,000m of drilling to test new targets. The current field
program is expected to continue through late spring followed by
exploration drilling in late spring or summer. The 2020 exploration
program is being fully funded by joint venture partner Dominion
Diamond Mines, after which it is expected North Arrow will retain
an approximate 18% interest in the project.
Dominion is the operator of the joint venture
and field operations are managed by Aurora Geosciences Ltd.
(Yellowknife, NWT). The contents of this news release have been
reviewed by Ken Armstrong, P.Geo. (NWT/NU, ON), President and CEO
of North Arrow and a Qualified Person under NI 43-101.
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 global diamond industry. North Arrow’s most
advanced diamond project is the Q1-4 diamond deposit at the Naujaat
Project (NU). The Company has discovered and is evaluating
kimberlite fields at the Mel (NU) and Pikoo (SK) Projects, is
evaluating and exploring for additional kimberlites at the Loki
Project (NWT) and, as demonstrated by this press release, has
exposure to discovery drilling at the LDG JV Project (NWT) with
partner Dominion Diamond Mines. The Company also maintains a 100%
interest in the Hope Bay Oro Gold Project (NU), located
approximately 3 km north of TMAC Resources’ Doris Gold Mine.
North Arrow Minerals Inc.
/s/ “Kenneth A. Armstrong”Kenneth
ArmstrongPresident and CEO
For further information, please contact:Ken
Armstrong Tel: 604-668-8355 or 604-668-8354Website:
www.northarrowminerals.com
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.
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