20:53:06 EDT Tue 23 Oct 2018
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Arctic Star Exploration Corp (3)
Symbol C : ADD
Shares Issued 95,791,883
Close 2018-02-08 C$ 0.155
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Arctic Star to mobilize drill to Timantti Feb. 12

2018-02-09 06:45 ET - News Release

Mr. Scott Eldridge reports

ARCTIC STAR MOBILIZES DRILL, TIMANTTI PROJECT FINLAND

A diamond drill rig will arrive at site on Arctic Star Exploration Corp.'s 100-per-cent-owned Timantti diamond project in Finland on Feb. 12, 2018, and will commence drilling shortly after. The drill will test newly identified kimberlite targets.

Since early December geophysical crews have been active in the field conducting magnetic, electromagnetic (MaxMin) and gravity surveys over much of the 243-hectare exploration reservation area. In mid-January the company deployed an excavator to collect till samples to further support geophysics results. The basil till covering potential kimberlites on the project is only one or two metres thick.

The purpose of conducting ground magnetic, electromagnetic and gravity surveys is to search for new kimberlitic targets and to discriminate these from non-kimberlite geophysical responses. A total of 41 line kilometres of electromagnetic (MaxMin) are planned, of which approximately 50 per cent has been completed. Approximately 35 kilometres of gravity survey are also planned, of which 55 per cent has been completed. There are also 61 line kilometres of ground magnetics planned of which 35 per cent is now complete.

The Wolf kimberlites are moderate magnetic highs in a fairly magnetically noisy background with iron formations and mafic volcanics producing similar or more intense responses. At this stage, there are over 20 magnetic anomalies that may represent kimberlite targets in the general Wolf area, the gravity and MaxMin survey will help further prioritize these targets prior to drilling. The Wolf kimberlites for example also have an electromagnetic response.

The excavator is sampling the basal till, down ice of the more promising geophysical anomalies. Four targets have been tested to date, and the samples have been sent to laboratory to extract indicator minerals. The drill will be directed to any of these that report diamond indicator minerals.

The drill will also be utilized to further delineate the Wolf kimberlites and return a larger caustic fusion microdiamond sample to further determine the size and grade for a decision to bulk sample these diamondiferous kimberlites.

Buddy Doyle, vice-president of exploration, commented: "By rapidly deploying these different exploration tools to our exploration permit, we expect to obtain multiple layers of evidence of new kimberlites that can be drill tested. We know there are more kimberlites in this area by the expression of diamond favourable indicator minerals in the region, which the Wolf kimberlites cannot explain. The company also will produce a steady stream of caustic diamond fusion results from drilling the Wolf kimberlites, which, so far have produced encouraging microdiamond counts. The next six weeks will be an exciting time for the company."

The qualified person for this news release is Roy Spencer, AUSIMM fellow, a geologist with over 30 years of experience in diamonds.

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 95,700-hectare exploration reservation near the township of Kuusamo, in Finland. The project is located approximately 450 kilometres southwest of the operating Grib diamond mine in Russia. Arctic is commencing its exploration in Finland on the Timantti project, where two diamondiferous kimberlites 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).

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