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North Arrow Minerals Inc. is a northern focused exploration company with a diversified portfolio of gold, silver, base metal, rare metal and diamond properties. North Arrow's exploration activities are conducted under the direction of a management team that has extensive and successful experience in northern Canada. North Arrow's current focus is its 100% owned Phoenix property in the Aylmer Lake area of the Northwest Territories. The Phoenix property contains the lithium rich Big Bird pegmatite dike. The demand for lithium is expected to exceed known supplies with increased demand driven by the automotive industry's production of electric cars utilizing lithium-ion batteries. Channel samples have been collected at ten different locations from the Big Bird pegmatite over a strike length of 1100 m. Lithium is contained in the mineral spodumene and the channel sample assays results range from 0.57% Li2O to 3.13% Li2O. In total, 25 m of channel samples were collected returning a composite grade of 1.63% Li2O. The Big Bird pegmatite dike is northwest trending and is intermittently exposed along a strike length of over 1200 m, with observable widths of up to 80 m. Outcrops are interpreted to represent the centre of the dike as the margins of the pegmatite and contacts with adjacent country rock are covered by overburden and water. A total field magnetic survey finished in December of 2008 suggests the Big Bird pegmatite crosscuts a complex, broad, positive semi circular total field magnetic anomaly. This anomaly is interpreted to represent the differentiated margin of a granitoid complex. The Big Bird pegmatite occurs within, or is proximal to a linear trend, defined as a total field magnetic low, that crosscuts the broader positive anomaly. The property contains a number of similar unexplored geophysical signatures. |
Tue Jun 2, 2009 North Arrow Closes Non-Brokered Private Placement For Gross Proceeds Of $500,000 more... |
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