North Arrow Minerals Inc (CVE:NAR) (OTCMKTS:NHAWF) (FRA:VTJ1) has revealed that the $5.6 million bulk sampling program at its Naujaat diamond project in Nunavut is now more than 50% complete.
The company said the program is on track for completion by the end of August, and the sample will be shipped south in September via the annual sealift.
“Bulk sample collection from the Q1-4 kimberlite at the Naujaat Project is progressing on schedule with field crews having so far delivered over 1,000 tonnes of kimberlite to our laydown near the community of Naujaat,” North Arrow Minerals CEO Ken Armstrong said in a statement.
READ: North Arrow Minerals moving forward with flagship Naujaat Project
“We had targeted a total sample size of between 1,500 to 2,000 tonnes and we now expect to reach the high end of that range,” Armstrong added.
North Arrow noted that diamonds recovered from the sample are intended to confirm the size distribution and character of an important population of potentially high-value, fancy yellow to orange-yellow diamonds found in the Q1-4 deposit.
The bulk sampling program is being funded by the company’s partner Burgundy Diamond Mines (ASX:BDM), which is entitled to earn a 40% interest in the Naujaat project by funding the current bulk sample program.
North Arrow Minerals has a portfolio of mineral projects in Canada, including its flagship Q1-4 diamond deposit at the Naujaat project. In addition to its diamond projects, the company maintains a 100% interest in the Hope Bay Oro gold project in Nunavut.
Contact Sean at sean@proactiveinvestors.com