EXPLORATION FIELDWORK UNDERWAY
Trading Symbol: TSXV: NAR
VANCOUVER, BC, Sept. 18,
2023 /CNW/ - North Arrow Minerals Inc. (TSXV:
NAR) ("North Arrow") is pleased to report initial lithium
assays from spodumene pegmatites discovered in July at the
company's 100% owned LDG Property, Northwest Territories, and that mobilization
is underway for a fall exploration program at the property.
Highlights of today's news include:
- Five of seven representative grab samples from the SD4
spodumene pegmatite have returned from 1.10% Li2O to
2.17% Li2O.
- Seven of eight rock sawn channel samples from the SD2 spodumene
pegmatite have returned from 0.40% Li2O to 1.70%
Li2O.
- Based on mapping of low-relief outcrop exposures, SD2 and SD4
are interpreted as steeply dipping (75-80 degrees)
feldspar-quartz-muscovite-spodumene pegmatites, estimated at
10-20 m wide and over 400 m in strike length. The pegmatites are
located approximately 2 km apart and remain open below overburden
along strike.
- Spodumene is coarse grained and locally abundant in both
pegmatites, reaching 15-20% in some outcrops.
- Follow up exploration field work is underway with
planned work to include mapping, prospecting and ground magnetic
surveys as well as spotting initial proposed drill holes ahead of a
spring 2024 exploration drill program.
Ken Armstrong, President and CEO
of North Arrow commented "We are pleased to confirm significant
lithium assays from the SD2 and SD4 spodumene pegmatites discovered
this summer at North Arrow's LDG lithium property. Unfortunately,
plans for drilling the property in September were suspended as a
result of the wildfires impacting residents of the NWT. However,
with thanks to the tremendous work of fire fighters, numerous
volunteers and governments, NWT residents are safely returning to
their communities, and we are able to renew field work focused on
understanding the size potential of these pegmatites, as well as
prospecting for new discoveries within this highly prospective
area."
The LDG property covers an 18 km corridor of underexplored
metasedimentary rocks located adjacent to a fertile, two-mica
granite, very similar in age and setting to the host rocks of the
spodumene pegmatites of the Yellowknife Pegmatite Province. At LDG,
less than seven kilometres of this prospective trend have been
prospected to date and, in addition to SD2 and SD4, at least five
other pegmatites, up to 50 m wide,
have been identified and require further mapping and sampling to
understand their potential to host significant lithium
mineralization. Located within 5 km of the winter road
infrastructure connecting Yellowknife with the Lac de Gras region, the
size potential and lithium mineralization of the SD2 and SD4
pegmatites highlight the potential of the LDG property to host a
significant spodumene lithium discovery on par with the
Yellowknife Pegmatite Province. Current field work is expected to
include prospecting for additional spodumene
pegmatites, bedrock mapping, rock and soil sampling and ground
magnetic surveys.
Sample Collection, Laboratory
Procedures and QA/QC
Samples were collected in the field from rock sawn channels or
as representative grab samples using a rock hammer. Channel samples
were cut using a portable rock saw, with sampled material collected
at 1 m intervals, chipped from
between parallel incisions cut nominally 3-4 cm apart and 3-4 cm
deep. Individual channel and grab samples were collected into
plastic polymer bags, sealed and transported to ALS Global, where
sample preparation and analytical work was conducted. Samples were
prepared using ALS method CRU-31 (crushing to 70% passing through a
2 mm screen), SPL-21 (split sample - riffle split), and PUL-31
(pulverize up to 250 g to 85% passing through a 75-micron screen).
A 0.2 g subsample of the pulverized material was analyzed for 52
elements using a sodium peroxide fusion by ICP-MS (ALS method
ME-MS89L). Samples returning >500ppm Li were also assayed using
a 0.2 g subsample dissolved in a sodium peroxide solution and
analyzed for lithium according to ALS method Li-ICP81. Lithium
results are reported by the lab as % Li and have been multiplied by
2.153 to convert to % Li2O. Results passed QA/QC
screening at ALS.
About North Arrow
Minerals
North Arrow is a Canadian based exploration company focused on
the identification and evaluation of lithium and other exploration
opportunities in Canada. North
Arrow's management, board of directors and advisors have
significant successful experience in the global exploration and
mining industry. North Arrow is evaluating spodumene pegmatites at
its 100% owned LDG, MacKay, and DeStaffany Lithium Projects (NWT)
and is also exploring for lithium in Nunavut at the Bathurst Inlet pegmatite field
and continues work to identify additional lithium exploration
opportunities in northern Canada.
North Arrow also owns interests in the Naujaat (NU), Pikoo (SK),
and Loki (NWT) Diamond Projects and maintains a 100% interest in
the Hope Bay Oro Gold Project, located approximately 3 km north of
Agnico Eagle's Doris Gold Mine,
Nunavut. North Arrow's exploration
programs are conducted under the direction of Kenneth Armstrong, P.Geo. (NT/NU, ON), President
and CEO of North Arrow and a Qualified Person under NI
43-101. Mr. Armstrong has reviewed and approved the technical
contents of this press release.
North Arrow Minerals Inc.
/s/ "Kenneth A. Armstrong"
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.
SOURCE North Arrow Minerals Inc.