Mr. Patrick Power of Arctic Star reports
DIAMOND RESULTS FROM THIS YEAR'S DELINEATION DRILLING, SEQUOIA KIMBERLITE COMPLEX, NT
Arctic Star Exploration Corp. has received caustic fusion diamond results from the Sequoia kimberlite complex from the Diagras joint venture project (81.5 per cent Arctic Star) in the Lac de Gras area of the Northwest Territories.
Caustic fusion results from 1.65 tonnes of HQ split core received;
Microdiamond population continues to be dominantly white and clear;
Variations in diamond counts reflect variations in grade from various rock types and areas in the complex;
Photos of the larger diamonds are provided on the company's website.
The results are given in the attached table, along with the previous results for comparison.
The results are from the six holes completed into Sequoia in the spring of 2022, five of which encountered kimberlite. The holes are part of a delineation drilling program designed to define the size, shape, geology and tonnage of the Sequoia kimberlite complex. In this program, three holes are drilled from one collar, with the collars being spread approximately 200 metres apart, with scope to infill up to 100-metre centres. At each collar, a vertical hole is drilled to the assumed centre of the kimberlite, this will continue to 250-metre depth or when it exits the kimberlite. The rig is then tilted and spun to drill an inclined hole to the east and then a hole to the west. These holes are designed to capture the edge of the kimberlite. Further drilling planned for 2023 is required to complete this first-pass delineation program. The geophysical signature of the complex is at least 800 metres long and the holes reported here are from the southern 200 metres.
Remarkable is the consistent description of the stones, being overwhelmingly clear and white from the SRC lab, and this continues with the 2022 results. Photographs of the greater-than-0.3-millimetre stones (28 pictures) can be viewed on the Arctic Star website. If this trend continues into the larger commercial stones, it bodes well for higher-than-average prices for the Sequoia diamonds. Average prices of commercial diamonds in the Lac De Gras field are highly variable (from $30 (U.S.) per carat to $450 (U.S.) per carat), from kimberlite to kimberlite. The coarse distribution, the predominance of white clear stones, the high population of Type 2 stones and the concurring indicator mineral chemistry are layers of evidence that this is achievable. A larger sample with greater than 1,000 carats of commercial-size diamonds will be required to confirm this. This sample is planned for the 2024 winter.
The geological observations from each hole report three main rock types: a coherent kimberlite, a volcaniclastic kimberlite and a transitional kimberlite between these two types; a review of the diamond tenure of each rock type and its distribution is under way and will be reported when completed.
Planning and budgeting are under way for the 2023 program.
The qualified person for this news release is Buddy Doyle, AUSIMM, a geologist with over 35 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.
Arctic Star is predominantly a diamond explorer, recently discovering five new kimberlites in the prolific Lac De Gras kimberlite field that supports two multibillion-dollar kimberlite mining complexes. The company also has a 958-hectare exploration permit containing several diamond-bearing kimberlites on its Timantti project in Kuusamo, Finland. Arctic Star has optioned its Stein diamond project in Nunavut to GGL Resources Corp.
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