North Arrow Minerals Inc (TSX-V:NAR) has updated investors on progress of its bulk sample at its Naujaat diamond project and reported positive exploration results from its Pikoo and Loki diamond projects.
At Naujaat in Nunavut, a C$5.6 million bulk sample program is underway, funded by Burgundy Diamond Mines under an option deal where the latter can earn a 40% interest by paying for the work.
Currently, Dense Media Separation (DMS) processing of the nominal 2,000 tonne sample is around 47% complete, said North Arrow.
Final diamond recoveries are being completed at the Saskatchewan Research Council (SRC) Diamond laboratory using X-Ray Transmission (XRT) optical sorting technology to recover diamonds larger than 2 millimeters (mm) in size.
Meanwhile, at Pikoo in Saskatchewan, 25 targeted till samples were collected last year.
READ: North Arrow Minerals says its processing of bulk sample from Naujaat Diamond Project is progressing well, initial diamond recoveries from first subsample expected in early 2022
At North Pikoo, very high kimberlite indicator material (KIM) counts of over hundreds of grains were returned from three samples near the head of an existing KIM train, the firm said.
At the South Lovell target area, samples ranged from 6 to 22 KIMs and confirmed an unsourced KIM train in this region.
"The North Pikoo and South Lovell KIM trains confirm that undiscovered kimberlites are located within the property and planning is underway for a follow up drilling program during the 2022 field season," North Arrow told investors in the statement.
Elsewhere, at the Loki project in NorthWest Territories, several samples collected at depths of around 5 to 25 metres (m), have returned very high KIM counts, including three samples returning over 100 KIMs, including pyrope and eclogitic garnet, ilmenite, chrome-diopside, chromite and olivine, said the firm.
"These KIM counts are an order of magnitude higher than the most anomalous results returned by surface till sampling on the property," it added.
Further interpretation of these areas is underway, expected to be completed by the end of March, ahead of potential follow-up field work.
"Overburden samples collected from similar RC drilling in other parts of the Lac de Gras region have produced similar KIM results within close proximity to known kimberlite sources," noted North Arrow.
North Arrow's most advanced project is the Q1-4 diamond deposit at the Naujaat project. The company has also discovered and is evaluating diamond bearing kimberlites at the Pikoo (SK), Mel (NU), Loki (NWT) and LDG JV Projects (NWT).
North Arrow also maintains a 100% interest in the Hope Bay Oro gold project (NU), which is 3km north of Agnico Eagle's Doris gold mine.
Contact the writer at giles@proactiveinvestors.com