The Hope Bay project is located approximately 3
km north of Miramar Mining Corp's Doris gold deposit and 725 km from Yellowknife.
Size:
A total of 17,251 acres, consisting of five leases.
Ownership:
100% North Arrow.
Highlights:
Proximal location to the Doris deposit which, along with the Madrid and Boston deposits, make up Newmont Mining's Hope Bay Project one of the largest undeveloped gold projects in North America (10 million oz. resource).
Property contains similar stratigraphy and structure as the Doris deposit and has known gold occurrences.
Summary:
Previous mapping and geochemical analyses by Strongbow Exploration has confirmed that the host stratigraphy to the Doris deposit extends onto the Hope Bay property. Several gold showings have been identified, including the Elu shear, an approximately 400 m long mineralized shear zone structure where a 1998 drill program completed by Navigator Exploration Corp. encountered 14.3 g/t Au over 2.12 m and 5.96 m grading 5.48 g/t within a single drill hole. A second, steeper drill hole from the same set up encountered 2.18 m grading 3.61 g/t Au, before encountering a post mineralization dyke.
North Arrow considers the Hope Bay Property to have significant merit given its proximal location to the Doris deposit and the related infrastructure improvements currently being constructed by Newmont, including an airstrip and barge docking facility. North Arrow is currently engaged in discussions with other companies regarding the strategically located Hope Bay property.
)
