North Arrow Drills New Kimberlite at Mel Diamond Project, Nunavut

September 24, 2018

North Arrow Minerals Inc. (TSXV-NAR) reports completion of an exploration drilling and till sampling program at the Company’s 100% owned Mel Diamond Project, Nunavut. The program represents the first ever exploration drilling of this new kimberlite field and also included work focused on generation of new targets through till sampling and geophysical surveys. The Mel Project is well located, approximately 20 km from tidewater and work was conducted from an exploration camp established approximately 140 km south and 210 km northeast of the Hamlets of Hall Beach and Naujaat, respectively. Highlights of the program include:

President and CEO, Ken Armstrong commented “The drilling of kimberlites ML8 and ML345 has confirmed that the Mel Project represents a new diamondiferous kimberlite field in Canada. Over 200 kg of kimberlite is presently undergoing microdiamond analyses and further samples of drill core will soon be submitted for additional microdiamond, mineral chemistry and petrographic analyses. Importantly, the 2018 exploration program also included collection of 447 till samples, doubling the number of samples collected from the Project. Results from these samples will help to define existing and new kimberlite indicator mineral (KIM) anomalies ahead of the 2019 exploration season. The Mel exploration camp remains in place and will support renewed exploration drilling of new and established targets in 2019.”

Six holes (787.5m) were drilled during the 2018 program with kimberlite intersected in five holes testing the ML8 and ML345 targets. The sixth hole, testing target ML6, was lost prior to completion (map of drill hole locations). Kimberlite ML8, discovered by prospecting in September 2017, was tested by three holes over a 170m strike length and two holes testing target ML345, approximately 1.5 km south of ML8, encountered narrow kimberlite dykes at one location along this extensive, >400m target. Difficulties with drill serviceability impacted North Arrow’s ability to re-drill ML6, follow up the ML8 and ML345 kimberlite drill intercepts and test additional new targets. Planning has commenced to complete this work in 2019.

Kimberlite ML8 was tested by three drill holes over a 170m strike length. Holes 18-ML-02 (219° / -51° / EOH 78.0m) and 18-ML-03 (219° / -64° / EOH 173.2m) were drilled from the same setup and tested ML8 just north of the 2017 discovery subcrop. Hole 18-ML-02 intersected 0.99m of coherent kimberlite at 42.65m. The kimberlite is strongly magnetic, fine to coarse grained macrocrystic coherent kimberlite (CK) with a good mantle sample, similar to the ML8 discovery subcrop. Hole 18-ML-03 undercut hole 18-ML-02, intersecting 1.4m of the same CK at 59.37m. A narrow 14 cm kimberlite dyke was also intersected at 58.76m. Importantly, 18-ML-03 also intersected several larger mixed intervals of coherent kimberlite and associated cracked country rock (CCR) between 85.3m and 146.9m downhole, suggesting potential for a larger kimberlite emplacement event:

85.32-96.55m     (11.23m) Mixed CK and CCR including CK intervals of 2.2m (from 85.9m) and 5.5m (from 91.1m)
104.50-109.94m  (5.44m) Mixed CK and CCR including CK intervals of 0.3m (from 104.5m) and 1.5m (from 108.5m)
113.57-114.35m  (0.78m) CK
139.14-146.92m  (7.78m) CCR

These lower CK intervals are generally similar in appearance to the ML8 kimberlite subcrop (fine to coarse grained macrocrystic kimberlite with a good mantle sample) however they are weakly to non-magnetic. This difference in magnetism will be important with respect to defining additional targets in this area.

Hole 18-ML-04 (020° / -55° / EOH 202m) tested the interpreted along strike (NNW) extension of ML8 and intersected four zones of coherent kimberlite between 166m and 180m downhole, including 0.90m of CK from 166.0m. The remaining three intervals were all less than 0.30m. The kimberlite is very similar in character to the ML8 surface subcrop and is interpreted to have extended kimberlite ML8 over 170m to the north. The kimberlite intervals in the three holes testing ML8 have been shipped to Vancouver for detailed data capture and sampling for petrographic, mineral chemistry and microdiamond analyses.

An additional 224 kg of kimberlite was also collected from the ML8 surface subcrop, from the same location of a 62.1 kg sample collected in the fall of 2017 which returned 23 diamonds larger than the 0.106 mm sieve size, including a single, colourless diamond larger than the 0.85 mm sieve size. Details of the 2017 results were reported in North Arrow news release #17-12 dated October 16, 2017. The 2018 sample is intended to supplement the 2017 results and has been delivered to Microlithics Laboratories in Thunder Bay, Ontario where it is presently undergoing caustic fusion analysis for the recovery of microdiamonds.

The drill program also resulted in the discovery of kimberlite ML345, approximately 1.5 km south of ML8. The ML345 target is a >400m long, broad northwest trending topographic low situated at the head of a KIM train hosting the highest indictor mineral counts recovered from the project to date. Drill holes 18-ML-05 (050° / -51° / EOH 156m) and 18-ML-06 (050° / -65° / EOH 102m) were drilled from the same setup and tested a weak magnetic high located within this topographic target. A very narrow, 5 cm kimberlite dyke was intercepted at 35.2m in 18-ML-05. Hole 18-ML-06 undercut 18-ML-05, hitting 0.73m of coherent kimberlite at 25.78m downhole. The ML345 kimberlite intervals are fine to coarse grain coherent phlogopite kimberlite with coarse, subangular olivine macrocrysts and a coarse grained phlogopite groundmass. Indicators include common ilmenite, orange garnet and pyrope. The unit is weakly magnetic with evidence of flow-banding and strong carbonate alteration concentrated along the margins that decreases away from the country rock contacts. The kimberlite intervals from ML345 are presently being shipped to Vancouver for additional data capture and sampling for petrographic and mineral chemistry analyses. Additional drilling is required to fully test the ML345 target as it represents an extensive permissive area with highly anomalous KIM results immediately down ice to the northeast.

Ground geophysical and till sampling surveys were also completed as part of the exploration program. A total of 100 line km of magnetic surveys were completed over 14 grids covering targets associated with KIM trains in the northern part of the project. Till sampling focused on providing complete coverage of the entire Mel Project area, with focus on the claims staked during the fall of 2017. A total of 447 samples were collected and are currently being shipped to Microlithics for processing. Results from the till sampling will help define existing KIM trains and identify new target areas within the property.

The Mel Diamond Project field program was managed by Michael MacMorran, P.Geo. (NU/NWT), Project Geologist for North Arrow. The Company’s diamond exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo. (ON), President and CEO of North Arrow and a Qualified Person under NI 43-101.  Mr. MacMorran and Mr. Armstrong have reviewed the contents of this press release.

About North Arrow Minerals

North Arrow is a Canadian based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada. North Arrow’s management, board of directors and advisors have significant successful experience in the global diamond industry. North Arrow has discovered and is evaluating kimberlite fields at the Mel (NU) and Pikoo (SK) Projects, is evaluating a newly discovered kimberlite at the Loki Project (NWT) and has exposure to discovery drilling at the LDG JV Project (NWT) with partner Dominion Diamonds. The Company’s most advanced diamond project is the large, well located, Q1-4 diamond deposit at the Naujaat Project (NU). The Company also maintains a 100% interest in the Hope Bay Oro Gold Project (NU), located approximately 3 km north of TMAC Resources’ Doris Gold Mine.

North Arrow Minerals Inc.  

/s/ “Kenneth A. Armstrong”
Kenneth Armstrong
President and CEO

For further information, please contact:
Ken Armstrong
Tel: 604-668-8355 or 604-668-8354

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

This news release contains "forward-looking statements" including but not limited to statements with respect to North Arrow’s plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although North Arrow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. North Arrow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.

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