Lac De Gras Diamond Project Host Multiple Diamondiferous Kimberlites

Discovering New Diamondiferous Kimberlites Using Non-Magnetic Geophysics

Free
Message: NR Providence NI, CU, CO, PGE
Reply New Message
Prev Message Back To Forum Threaded View Next Message
hu Jul 15, 2010
Arctic Star Drill Hole Returns 4.55m of 0.67g/t Pt, 1.54g/t Pd, and 0.17g/t Rh at Credit Lake, NT.
Arctic Star Diamond Corp. ("Arctic" or the "Company") is pleased to report the outcome of recent exploration targeting magmatic nickel-copper-cobalt and platinum group element (Ni-Cu-Co-PGE ) bearing sulphides on the Credit Lake property NT. Drill hole 10CR-06 cut 4.55m disseminated mineralization that returned 0.67g/t Platinum, 1.54g/t Palladium and 0.17g/t Rhodium, along with significant Nickel @ 0.47%, Copper @ 0.475% and Cobalt @ 0.04% mineralization.

Drill hole10CR-06 was targeted 100m east of the massive sulphide lens known as the Providence Lake Nickel Discovery (PLND), and cut mineralized komatiite from 94-107.7m and mineralized mafic amphibolite from 126.5-131.05m (Table 1).

Table 1. Diamond Drill hole 10CR-06 weighted averages of Ni, Cu, Co assays (ALS Chemex) and PGE analysis (INAA by Becquerel Laboratories).

From To Width Ni% Cu% Co% Pt g/t Pd g/t Os g/t Ru g/t Ir g/t Rh g/t
94 107.7 13.7 0.11 0.23 0.01 0.20 0.39 Tr Tr 0.013 0.030
126.5 131.05 4.55 0.47 0.47 0.04 0.67 1.54 0.024 Tr 0.074 0.165

Target A11, a strong conductor with anomalous soil samples, located 3.5 km west of PLND sits in the same geological setting as the Ni-Cu-Co-PGE discovery. A 400m strike length of the A11 conductor was tested with two diamond drill holes and one RC drill hole that confirmed komatiite and ultramafic rocks in the area. Disseminated sulphides were discovered which returned nickel values up to 400ppm from mineralized mafic volcanic in contact with an ultramafic intrusive.

Crews completed belt-wide detailed ground magnetics in the nickel belt, 15 HLEM MaxMin geophysical grids, a detailed ground gravity survey over the Providence Nickel discovery, 7 BQTW diamond drill holes (965.28m), and 10 Hornet Reverse Circulation (RC) drill holes (343.4m) during a 6-week exploration program that concluded May 4, 2010.

A Boyles Super 300 diamond drill and Hornet RC rig remain on the property to resume exploration next season. Tables 2 and 3 provide UTM locations (NAD83 z12) for all diamond drill and RC drill holes completed during the spring exploration program.

Table 2. 2010 BQTK Diamond Drilling

DDH Easting Northing Azimuth Inclination Depth (m)
10CR-01 458399 7166058 180° -50° 221
10CR-02 461188 7165720 194° -45° 160
10CR-03 463160 7165278 165° -50° 47.85
10CR-04 462621 7165315 180° -45° 142.33
10CR-05 457995 7165976 180° -45° 136
10CR-06 461592 7165375 186° -82° 220
10CR-07 486299 7151370 0° -90° 38.1

Table 3. 2010 Hornet RC Drilling

RC Hole Easting Northing Azimuth Inclination Depth (m)
10RC-01 459256 7166410 0° -90° 39.00
10RC-02 458777 7166354 0° -90° 32.00
10RC-03 458777 7166335 180° -46° 21.00
10RC-04 458777 7166374 180° -50° 30.00
10RC-05 458964 7166222 180° -50° 35.00
10RC-06 458095 7165937 180° -50° 35.00
10RC-07 459448 7166028 180° -55° 51
10RC-08 483187 7158513 0° -90° 17.00
10RC-09 486443 7151473 147° -50° 34.00
10RC-10 486456 7151173 97° -50° 49.40

Diamond exploration consisted of 9 detailed walkmag grids, and testing one gravity anomaly and two magnetic anomalies using the Hornet RC Drill (RC drill holes 10RC-08, 10RC-09 and 10RC-10), and testing the Abyss bathymetric target with diamond drill hole 10CR-07. The abyss is a 10.5 m deep bathymetric low in a shallow lake at the head of the Alpha kimberlite indicator mineral dispersal train. A bathymetry survey was conducted on the ice, and a vertical hole was drilled in the deepest part of the Abyss. Drilling failed to intersect kimberlite.

The Qualified persons for this news release as per the guidelines of NI 43-101 are Buddy Doyle (AUSIMM) and Kevin Kivi (P.Geol. NAPEG).
Reply New Message
Prev Message Back To Forum Threaded View Next Message
Share
Share
New Message
Please login to post a reply