North Arrow Minerals Inc. (NAR: TSXV) is providing an update on its 100% owned Phoenix Lithium project, located in the Northwest Territories. The current exploration drilling program is nearing completion with six holes (592 m) completed to date, and the seventh and last hole in progress. The first three holes of the program tested the Big Bird pegmatite and intersected 34.30 m, 17.43 m and 12.48 m of spodumene bearing pegmatite and related felsite and aplite. The fourth hole, intended to test a magnetic low geophysical anomaly to the west of the Big Bird pegmatite, did not intersect pegmatite. The final three holes of the program were intended to test the new Curlew pegmatite located three kilometres east of the Big Bird pegmatite, with the first two holes intersecting 25.11 m and 12.80 m of spodumene rich pegmatite, respectively. Additional work on the Big Bird pegmatite would best be carried out after freeze up, thereby allowing for more appropriate ice-based setups on a small lake that covers the northeastern contact of the pegmatite.
Exploration work on the Phoenix Project is carried out under the authority of a land use permit granted in July 2009 by the Mackenzie Valley Land and Water Board. The Company also reports that it has, along with the Attorney General of Canada, been named a Respondent with respect to a Notice of Application to the Federal Court of Canada. The Applicants to the Notice, including the Yellowknives Dene First Nation and Lutsel K'e Dene First Nation, seek, among other things, the cancellation of the July 2009 land use permit and orders directing both the Canadian Government and North Arrow to consult with and accommodate the Applicants in respect of their rights, including their known and asserted Aboriginal and Treaty rights. At this point the Company cannot determine or comment on the materiality of this application, however it confirms that the current land use permit remains valid and that it maintains 100% ownership of the mineral claims comprising the Phoenix project.
In addition to completing the current exploration drilling program, North Arrow plans to commence a surface evaluation of the McAvoy lithium pegmatite in Nunavut. The Company is also planning exploration on its North Carolina lithium properties, commencing mid to late September. This will include mapping, geophysics, and extensive diamond drilling, which will continue through the winter.
North Arrow's exploration programs are conducted under the supervision of Gordon Clarke, P.Geol. (NT&NU), Vice President, Exploration for North Arrow and a qualified person under NI 43-101.
North Arrow Minerals Inc.
/s/ "D. Grenville Thomas"
D. Grenville Thomas
President and CEO
For further information, please contact:
D. Grenville Thomas
President and CEO
Tel: 604-668-8355
Email: [email protected]
Gordon Clarke
Vice President, Exploration
Tel: 867-873-8483
Website: www.northarrowminerals.com
The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy of this release.
