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Be the first with the news that moves the market- North Arrow Minerals (NAR) has acquired the Bathurst Inlet lithium property in Nunavut
- North Arrow has signed an agreement with Panarc Resources Ltd. to acquire a 100 per cent interest in the Bathurst Inlet Property by reimbursing staking costs of $16,515 and issuing 100,000 shares
- The company plans to conduct remote sensing work ahead of a field evaluation of prioritized outcrop areas to prospect for spodumene mineralization associated with the Bathurst pegmatite field later this year
- North Arrow Minerals (NAR) was down 18.75 per cent, trading at $0.065 at 9:50 am ET
North Arrow Minerals (NAR) has acquired the Bathurst Inlet lithium property in Nunavut.
The property covers a series of mapped and interpreted pegmatite intrusives located within 9 km of tidewater at Bathurst Inlet. The southernmost mineral claim lies within 12 km of Sabina Gold & Silver Corp.’s (TSX:SBB) port facility, being used to service the Back River gold mine.
The Bathurst Inlet lithium property consists of prospective hard rock lithium targets. While pegmatites have been noted in the Bathurst Inlet area by government mappers, they have not been evaluated for potential spodumene and related lithium mineralization.
North Arrow has signed an agreement with Panarc Resources Ltd. to acquire a 100 per cent interest in the Bathurst Inlet Property by reimbursing staking costs of $16,515 and issuing 100,000 shares.
Ken Armstrong, President and CEO of North Arrow, commented,
“Acquisition of the Bathurst Inlet Property is part of North Arrow’s ongoing strategic work with Panarc Resources to identify and acquire lithium pegmatite opportunities in the NWT and Nunavut. Pegmatites have been known to occur in the Bathurst Inlet area for many decades. However, local bedrock mapping was at a scale where noting the locations, extent and mineralogy of these pegmatites was not practical nor considered a priority. With the help of recent satellite imagery, we’ve been able to prioritize target areas for follow-up detailed mapping and prospecting for lithium mineralization in early summer 2023.”
Moving ahead, the company plans to conduct remote sensing work ahead of a field evaluation of prioritized outcrop areas to prospect for spodumene mineralization associated with the Bathurst pegmatite field later this year.
North Arrow Minerals is an exploration company focused on identifying and evaluating diamond opportunities in Canada.
North Arrow Minerals (NAR) was down 18.75 per cent, trading at $0.065 at 9:50 am ET.
