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Source: Arctic Star Exploration Corp.
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  • Arctic Star Exploration (ADD) has received formal confirmation of its 81.5 per cent stake in the Diagras Joint Venture, NWT
  • Arctic Star previously assumed management of the project and spent a total of $2,135,828 on the project
  • Arctic Star has presented the Joint Venture with a plan and budget for the fall program and a spring program is also in the works
  • Arctic Star Exploration Corp is a natural resource company engaged in the acquisition, exploration, and development of mineral properties
  • Arctic Star Exploration Corp. (ADD) opened trading at C$0.065 per share

Arctic Star Exploration (ADD) has received formal confirmation of its 81.5 per cent ownership in the Diagras Joint Venture, NWT.

Earlier this year Arctic Star assumed management of the project and proceeded to spend a total of $2,135,828 on the project. The company’s JV partner Margaret Lake Resources Inc., elected not to participate.

Five kimberlites were discovered, four of which are diamondiferous, with the Sequoia kimberlite being the most interesting.

At the end of the program, a total of $3,087,852 has been spent by the JV, with Arctic Star contributing $2,516,638. Using the formula outlined in the JV agreement, Arctic Star’s interest is now at 81.5 per cent. Arctic Star will remain the manager of the JV.

Arctic Star has presented the Joint Venture with a plan and budget for the fall program. It consists of an airborne EM survey covering the entire property and further diamond studies. A spring 2022 program is also in the works. This program will cover definition drilling on the Sequoia kimberlite designed to give the first look at grade and tonnage of this diamond bearing kimberlite, ground geophysics, and exploration drilling.

Arctic Star Exploration Corp is a natural resource company engaged in the acquisition, exploration, and development of mineral properties. Projects include the Timantti diamond project, Diagras diamond project, and the Stein diamond project.

Arctic Star Exploration Corp. (ADD) opened trading at C$0.065 per share.

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