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Arctic Star on the rise as it reports first diamond results from its Spring programme at Timantti

Last updated: 11:40 06 Jun 2018 BST, First published: 14:40 05 Jun 2018 BST

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In total, from all samples from White Wolf so far, two stones were larger than 1.18mm.

Arctic Star Exploration Corp (CVE: ADD, OTCQB: ASDZF) saw shares sparkle in Toronto as it posted first diamond results from its Spring drill programme on the Timantti project in Finland.

The site is home to four diamondiferous kimberlites that may represent the first finds in a large field.

Today's results hail from the White Wolf kimberlite, and are from the drill core of just one hole.

Encouraged by results

Arctic said it was encouraged by these results, which show more than one 1.18mm stone for every 100kg of the sample core, which was processed.

At White Wolf, of the current 79.95kg sample, there were 105 stones in total, with 53, which were larger than 0.106mm.

Meanwhile, six stones were greater than 0.425mm.

In total, from all samples at White Wolf so far, two stones were larger  than 1.18mm.

A constant stream

"The company expects to now receive a constant stream of results as the laboratories process the core from approximately 18 more kimberlite intercepts on the project," the company said in the regulatory filing.

"To expedite this process, the company is now using two laboratories in Canada, Microlithics in Thunder Bay and SRC in Saskatoon."

Arctic completed first pass delineation drilling on the White Wolf kimberlite in March this year, and since then, holes have been logged, split and dispatched.

A total of around 360kg of sample from White Wolf has now been sent for analysis from this season's drilling, including today's results.

The company wants to accumulate enough diamond data so that predictions of grade using conventional graphical techniques can be made.

Once all current micro-diamonds sample results are reported, the form will decide how to continue the diamond evaluation process on these kimberlites.

The firm also wants to find more kimberlites in the area.

Shares in Toronto added 9.38% to C$0.18.

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