Arctic Star Exploration Corp (CVE: ADD, OTCQB: ASDZF) has released encouraging second set drill results from the White Wolf kimberlite at its Timantti diamond project near Kuusamo, Finland, sending shares up.
The company completed initial exploration and delineation drilling at the project this spring.
Exploration was carried out at four separate kimberlite occurrences including White Wolf, Black Wolf, Grey Wolf and Vasa Dyke Swarm.
READ: Arctic Star on the rise as it reports first diamond results from its Spring programme at Timantti
The latest White Wolf results show a sample of 262.33 kilograms, which contained 758 diamonds.
Of those, 11 were over 0.60mm, while 393 were over 0.106mm.
In total from the drilling at White Wolf, 1,032 stones have been recovered from 409.3 kg of sample core.
"We are very encouraged by the diamond results from White Wolf kimberlite, we await the diamond results from Black Wolf, and Grey Wolf, expected prior to the end of this month," said Buddy Doyle, the vice president of exploration.
READ: Arctic Star Exploration reveals exploration start at Diagras joint venture in the Northwest Territories
"With all the results in hand we can plan the next stage for these kimberlites.
"However, our focus will be more on finding more, we expect we are in a larger kimberlite field based on diamond indicators in the till in the area with at least several separate sources.
"It would make more sense to explore, find and do similar caustic fusion analysis to make an inventory of kimberlites that need bulk sampling, prior to doing this exercise on the Wolves."
Arctic said that summer exploration program was now underway to identify additional kimberlites as well as focused airborne and ground geophysical surveys.
Shares in Toronto added 3.85% to C$0.145.