Mr. Scott Eldridge reports
ARCTIC STAR EXPLORATION CORP. STAKES 8 NEW CLAIMS AT DIAGRAS PROPERTY
Arctic Star Exploration Corp. has staked eight new mineral claims adjoining the pre-existing Diagras property in the Northwest Territories, a contributing joint venture between Arctic Star Exploration (40 per cent) and Margaret Lake (60 per cent). The new claims cover 3,896 hectares increasing the Diagras property to a total of 22,595 hectares, within 29 mineral claims. The new claims cover eight previously discovered kimberlites, bringing the property total to 20 known kimberlites.
Diagras is located in the prolific Lac de Gras diamond field just 35 kilometres from the world-class Diavik diamond mine. The property lies directly on trend with the Diavik deposits currently being mined by a joint venture between Rio Tinto and Dominion Diamond Diavik.
The company exploration strategy has been to conduct ground gravity, magnetic and electromagnetic surveys over and around the known kimberlites in search of previously undiscovered kimberlite or non-magnetic kimberlite phases.
The ground geophysical work carried out to date has generated drill targets near the HL02, Suzanne, Jack Pine and Black Spruce kimberlites.
The company plans to conduct further geophysical surveys in spring 2019 followed by a drill program. The attached table lists the known kimberlites, with a description of what work has been completed to date, on the property.
KNOWN KIMBERLITES, COMPLETED WORK AND DRILL TARGETS
Kimberlite Comments Mag Gravity EM Drill target
Lyndsey Unknown X
TAZ HL-04 Mag low in lake X
Dodi Possible EM conductor X
HL-02 EM and mag VK X X Yes
Kong W Mag low HK X
Kong E Mag low X
Naomi Unknown X
Nadine Unknown X
Suzanne Unknown X X X Yes target linear EM and gravity
Black Spruce Mag low X X Yes gravity target to south
of known kimberlite
Jack Pine Mag low X X X Yes gravity target to the north
of known kimberlite named Sequoia
Krista Mag low X
Anne Mag low
PenelopeDG007 Mag low airborne
EM airborne X
George Airborne mag Yes, airborne mag low
Drew Airborne mag and EM Yes, airborne mag low and conductor
Tabatha Possible airborne EM Yes, possible airborne conductor
Finlay Airborne mag Yes, airborne mag low
Emily Unknown Unknown
Don Unknown Unknown
HL-01 Airborne mag Yes, airborne mag low
Petra Airborne EM Yes, airborne conductor
Hanna Unknown Unknown
Table notes:
HK: Hyperabyssal kimberlite;
VK: Volcanoclastic kimberlite;
EM: Electromagnetic.
The addition of these extra claims and additional known kimberlites to the portfolio increases the odds of locating untested kimberlite phases.
Granting of stock options
Arctic Star has granted 500,000 stock options to a consultant for the purchase of up to 500,000 common shares of the company pursuant to its stock option plan. Each option is exercisable for a period of five years at a price of 10 cents per common share.
Qualified person
The qualified person for this news release is Buddy Doyle, AUSIMM, a geologist with over 30 years of experience in diamond exploration, discovery and evaluation. A qualified person under the provisions of National Instrument 43-101.
About Arctic Star Exploration Corp.
The company owns 100 per cent of the recently acquired Timantti diamond project, including a 243-hectare exploration permit and a 193,700-hectare exploration reservation near the town of Kuusamo, in Finland. The project is located approximately 550 kilometres southwest of the operating Grib diamond mine in Russia. Arctic has commenced its exploration in Finland on the Timantti project, where four diamondiferous kimberlite bodies may represent the first finds in a large kimberlite field. The company also controls diamond exploration properties in Nunavut (Stein), the Northwest Territories (Diagras and Redemption) and a rare metals project in British Columbia (Cap).
We seek Safe Harbor.
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