Arctic Star Diamond Corp.: Till Geochemistry Ugrades Multiple EM Targets, Strong Evidence for Widespread Nickel Mineralization,
February 02 2010 - 1:43PM
Marketwired Canada
Arctic Star Diamond Corp. ("Arctic" or the "Company") (TSX VENTURE:ADD) is
pleased to report on its ongoing work in expanding Providence Lake nickel
discovery, on its Credit Lake property NT. To date, results have been returned
for 689 till samples taken late last summer (from a total of 1325). With these
results, approximately 50% of the samples have been received by the Company,
with the remainder (approximately 600 samples) of the results expected in the
next couple of weeks.
These till samples were taken along a 22km strike of the Providence Lake Green
Stone belt which hosts the magmatic, komatiite-hosted nickel-copper-cobalt and
platinum group element (Ni-Cu-Co-PGE) sulphide discovery made by Arctic in 2008.
The best drill hole in the discovery area reported 5.1m @ 1.73%Ni, 1.75% Cu,
0.17% Co and greater than 2g/t platinum equivalent (Pt+Pd+Rh+Ir+Os). The
discovery drill hole was located on a coincident EM (Electro-Magnetic) and high
Nickel geochemical anomaly (soil sample) and the company hopes to continue to
use this technique to target similar or better examples of this mineralization
along the belt.
Buddy Doyle VP Exploration for Arctic said, "These results are exactly what we
were hoping for from the till sampling program, the results combined with VTEM
collaborate the potential that the original nickel sulphide discovery zone is
not an isolated occurrence and that there will be numerous other occurrences
that also have the potential to accumulate to a significant resource, similar to
other economic nickel camps around the world, such as Raglan, Thompson and
Kambalda. The proof will be in the drilling which we are now eager to commence.
We also await the till results from the western side of the belt which we expect
to be similar."
The till sampling results that have been returned to date cover the Providence
Lake Nickel Discovery area (PLND) and a 4 kilometre stretch of the Providence
Greenstone belt. These initial results are encouraging with eleven zones
anomalous in nickel, cobalt, copper, and chrome identified to date, each with
similar soil geochemistry to the anomaly associated with the PLND. (See Figure 1
below). The figure shows a gridded image of the nickel in till results in
colour. The "hot" colours, Purple, red, show the top 99 percentile of the nickel
in till results with a maximum of 420ppm. The warm orange yellow colours are the
top 75 percentile results, the blue represents all the samples below these
cut-offs. The heavy purple lines depict VTEM conductors thought to be associated
with nickel mineralization. Some of the other conductors in the VTEM survey
block have been field checked and shown to be caused by sulphide facies iron
formations. It is apparent from the figure that the geochemical/geophysical
expression of the PLND discovery zone frequently reoccurs throughout the sampled
portion of the belt and often these signatures are an order of magnitude larger
and more intense than seen from the samples covering the PLND.
To view the map accompanying this release please click on the following link:
http://media3.marketwire.com/docs/0202add.jpg
Table 1 summarizes some of the drill targets generated to date.
----------------------------------------------------------------------------
Anomaly Geochem VTEM Ground EM Comments
Name
----------------------------------------------------------------------------
TZ28 Part of the Deeper larger Confirms the Drill holes 08CR-
600m long target 100m presence of deep 24 and 08CR-25
discovery below surface. EM and mag target intercepted
anomaly at TZ-28. DDHs shallow nickel
08CR-24 & 25 mineralization
apparently above this target
intersected only
the very top of a
deeper body
----------------------------------------------------------------------------
A11 A 309ppm Cu, A conductor To be completed Petrology and
Trend 150ppm Ni 1000m long, prior to probe confirm the
and 159ppm broad shoulder drilling presence of
Cr soil to Fe-form komatiite and
anomaly, conductor nickel sulphide
max, similar to in this area,
elevated discovery same stratigraphy
along trend as discovery
----------------------------------------------------------------------------
TZ-36 A kilometre Strong airborne Very strong mag- Outcropping Cu-
(A4)- east responses in EM responses at bearing massive
TZ35 coincident swamp offset in NW sulphides have
Trend EM and striking been mapped at
geochem Mackenzie diabase TZ-35 along this
dike set trend.
----------------------------------------------------------------------------
A9-A10 Multiple Weak magnetic Moderate to Northern Zone
Trend strongly and EM strong coincident within the
anomalous responses EM and magnetic greenstones,
Ni,Cu,Co anomalies, north approximately 1
soil dipping with km higher in the
responses geochem stratigraphic
coincident section than
with PLND. Suggests
geophysics magmatic Ni-Cu-Co
mineralization
may occur in
sequences ABOVE
the stratigraphic
position of the
PLND
----------------------------------------------------------------------------
TZ29-A5 Good Cu in Moderate EM Moderate to Northern Zone
Trend soils and with weak mag strong EM with within the
high MgO in coincident weak- greenstones,
outcropping moderate mag approximately 1
ultramafics response km higher in the
near contact stratigraphic
with sulfide section than
facies iron PLND. Suggests
formation magmatic Ni-Cu-Co
mineralization
may occur in
sequences ABOVE
the stratigraphic
position of the
PLND
----------------------------------------------------------------------------
The A9-A10 trend and TZ29-A5 trend may represent another stratigraphic magmatic
Ni-Cu-Co sulphide target within the Providence Lake Greenstone Belt.
The company expects to commence exploration on this belt that is west of the
Tibbett-Contoyto winter road in March, and begin its Spring drilling program in
April.
The Qualified person for this news release as per the guidelines of the NI
43-101 is Buddy Doyle.
Statements Regarding Forward-Looking Information: Some statements contained in
this news release are forward-looking statements. Investors are cautioned that
forward-looking statements are inherently uncertain and involve risks and
uncertainties that could cause actual results to differ materially. There can be
no assurances that future developments affecting Arctic will be those
anticipated by management.
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