North Arrow Minerals Inc. (NAR: TSXV) ("North Arrow" or the "Company") is providing an update on its Canadian exploration properties.
The Company reports it has received a land use permit from the Mackenzie Valley Land and Water Board for its 81,000 acre Lac de Gras diamond property, which adjoins the Diavik Diamond Mine in the Lac de Gras area of the Northwest Territories. Receipt of the permit allows the Company to commence planning for a drilling program, which has been re-scheduled for April and May of 2011 due to lateness of the season. As previously announced, a program of anomaly checking and ground geophysical surveys is scheduled to begin this week. The Lac de Gras property covers numerous geophysical targets selected by Dr. Chris Jennings using a proprietary geophysical technique that has successfully identified kimberlites in the Lac de Gras area. The project is a 50:50 joint venture between the Company and Dr. Jennings.
Ground geophysical surveys have now been completed at the Company's Hammer kimberlite located in the Coronation area of Nunavut. The surveys were conducted to cover a 1 hectare topographic low from which a 6.6 kg sample of kimberlite collected in 2009 returned a diamond on the 0.106 mm square mesh screen, confirming that the kimberlite body is diamondiferous. The property is subject to a joint venture arrangement between North Arrow (25%) and Stornoway Diamond Corporation (75%). Results of the survey will be announced after data processing and review.
The Company also reports the completion of an initial exploration program at the recently acquired Cal (1,446 acres) and Dotty (620 acres) properties situated in north-central Yukon Territory. The gold prospect claims were staked to cover anomalous government stream silt geochemical results in an area having bedrock stratigraphy similar to ATAC Resources Ltd.'s Rau Gold Project. During the program a total of 40 rock samples, 90 stream silt samples and 43 soil samples were collected and results are pending. The Company has issued 25,000 shares to Cathro Resources Corp. and 25,000 shares to Cazador Resources Ltd. as required under the terms of the previously disclosed option agreement whereby the Company can earn a 100% interest in the properties (please see North Arrow news release #10-11 dated August 3rd 2010).
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
Gordon Clarke
Vice President, Exploration
Tel: 867-873-8483
Website:www.northarrowminerals.com
