North Arrow Minerals Inc. (NAR: TSXV) is pleased to announce drilling is underway at its wholly owned North Carolina lithium project, USA. In conjunction with the drilling program, additional mapping, sampling, and geophysics will be carried out. The project is located in the Tin-Spodumene Belt of North Carolina which, prior to the 1990's, was the most important lithium producing center in the world. The belt extends over a 60 km length and reaches a maximum width of approximately 1.6 km. Historic lithium mining within the belt started in the 1950's with production primarily from two deposits: the Foote Mineral deposit, 1.6 km south of the town of Kings Mountain (currently owned by Chemetall Foote Corporation) and FMC Lithium's Hallman-Beam mine, located just north of Bessemer City. In 1982 estimated 'minable reserves' for the Foote Mineral deposit were reported as 29 million tonnes grading 1.5% Li2O with additional inferred reserves of 14 million tonnes grading 1.5% Li2O. The Hallman-Beam mine was similarly estimated to contain minable reserves of 27.5 million tonnes grading 1.5% Li2O. These reserves are historic in nature and are not NI43-101 compliant. They are provided herein for the purpose of demonstrating the size and grade of past producing mines in the Tin-Spodumene Belt.
North Arrow's North Carolina lithium project has focused on an area of the Tin-Spodumene Belt where past exploration and evaluation work was completed by the Lithium Corporation of America (predecessor to FMC Lithium) between 1950 and 1996. The Company has completed six property agreements encompassing 367 contiguous acres and initial prospecting has confirmed the extensive presence of spodumene bearing pegmatites. Ten of fourteen widely spaced grab samples have returned from 1.5% Li2O to 4.4% Li2O. The history of lithium production in the area, access to excellent transportation, power infrastructure and proximity to the existing downstream lithium production plants of FMC Lithium and Chemetall Foote make this an ideal location to potentially define additional American domestic lithium resources.
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. Samples reported herein were analyzed at Acme Analytical Laboratories Ltd. in Vancouver BC, with each sample crushed and a 250 g split collected. The crushed split was pulverized to 200 mesh, split and a 5 gram sample collected and subjected to a four acid digestion and analysis for 40 elements using a combination of inductively coupled plasma (ICP) emission spectrometry and ICP mass spectrometry methods. Laboratory inserted duplicates and standards provided optimum precision and accuracy.
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
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