North Arrow Minerals Inc has reported that the field collection of a 2,000-ton bulk sample at its Naujaat diamond project in Nunavut is now complete.
The Vancouver-based exploration company said field crews have delivered 2,500 bulk sample bags of kimberlite to its laydown near the community of Naujaat. Sample processing and diamond recovery are expected to start in the fourth quarter of 2021.
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.
READ: North Arrow Minerals completes 50% of its Naujaat diamond bulk sampling program
“At approximately 2,000 tons, the 2,500 bags represent the high end of our anticipated tonnage range for the program and we look forward to loading the sample onto the annual Naujaat sealift in September for shipment to the processing laboratory,” president and CEO Ken Armstrong said in a statement.
“We estimate the cost to collect and transport the sample from Q1-4 to the Naujaat laydown at approximately $2.3 million.
“This efficient program highlights the cost-effectiveness of evaluating the Q1-4 kimberlite by taking advantage of its location on tidewater with excellent opportunities for local employment and accommodations,” he added.
The $5.6 million bulk sampling program is funded by partner Burgundy Diamond Mines as part of a June 1, 2020 option agreement under which Burgundy may 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 the author at stephen.gunnion@proactiveinvestors.com