- North Arrow Minerals (NAR) has begun processing of a 2,000-tonne bulk sample from its Naujaat Diamond Project
- The diamond parcel is intended to confirm the size distribution and character of an important population of potentially high-value, fancy yellow to orange yellow diamonds
- Diamond recoveries are expected to be reported in stages as processing is completed on each of five subsamples
- The $5.6M bulk sample program is funded by partner Burgundy Diamond Mines, as part of an option agreement
- North Arrow Minerals is up 7.14 per cent, trading at $0.075 at 11:25 am ET
North Arrow Minerals (NAR) has begun processing of a 2,000-tonne bulk sample from its Naujaat Diamond Project.
The project is located in Nunavut.
The 2,500-bag sample was collected from the kimberlite in July and August. As of October 22, approximately one-third of the sample has been delivered to the Saskatchewan Research Council Geoanalytical Laboratory. The balance of the sample is expected to be delivered over the next several weeks.
The recovered diamond parcel is intended to confirm the size distribution and character of an important population of potentially high-value, fancy yellow to orange-yellow diamonds.
Diamond recoveries are expected to be reported in stages as processing is completed on each of five subsamples.
The $5.6M bulk sample program is funded by partner Burgundy Diamond Mines, as part of an option agreement.
“The start of bulk sample processing is an important milestone for the Naujaat Project. The purpose of this sample is to confirm that a unique population of fancy yellow to orange yellow diamonds extend into coarser diamond sizes. The quality of these diamonds will also be very important as we believe these fancy coloured diamonds will be a key value driver for potential future development of the Q1-4 deposit,” said President and CEO Ken Armstrong.
The Naujaat Project is located near the community of Naujaat, Nunavut. A total of eight kimberlite pipes have been identified within the Project as well as several laterally extensive kimberlite dyke systems.
North Arrow Minerals is up 7.14 per cent, trading at $0.075 at 11:25 am ET.
