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Summary

Location: Lac de Gras, Northwest Territories - 290 km northeast of Yellowknife
Size: 125,000 hectares
Ownership: 31% North Arrow, ~69% Dominion Diamond with Participating Interests
Stage: exploratory drilling commencing spring 2018
Closest Infrastructure: Diavik diamond mine 10 km to northeast; Ekati mine located 20 km north; ice road comes through property boundary


Highlights


Overview

The Lac de Gras Project is located in the Lac de Gras kimberlite field, close to two of the world’s richest diamond mines: Diavik and Ekati. North Arrow considers the area to have significant exploration potential for the discovery of new diamondiferous kimberlites.  Exploration of the project is conducted under joint venture agreement with Dominion Diamond Corporation under which Dominion owns ~69% interest in the project.  Dominion is the most important diamond company in the NWT, owning an interest in both the Diavik (40%) and Ekati (89%) mines.

Previous work in the project area has included airborne surveys, till sampling, ground geophysics and limited diamond drilling. Untested geophysical anomalies and unexplained geochemical anomalies remain, but the glacial history of the project area south of Lac de Gras is considered to be complex, having been exposed to multiple glacial events.

In 2013, Dominion earned their interest in the Project by conducting an extensive, $5 million program of reverse circulation overburden drilling intended to fully evaluate basal tills for kimberlite indicator minerals. 

In 2017 Dominion conducted airborne and ground geophysical surveys, including a 5,567 line km VTEM Plus survey of the southern part of the Project area where previous airborne geophysical coverage consisted only of wide spaced fixed wing magnetic surveys. Additionally, 22 ground geophysical survey grids were completed during spring and fall field programs. The ground surveys consisted of magnetic, electromagnetic and/or gravity surveys testing priority targets selected from compilation work completed in 2016 and preliminary survey results from the 2017 airborne. Final results of the airborne and ground geophysical surveys are currently being interpreted and will be used to prioritize targets for exploration drilling in 2018. North Arrow has elected not to fund its proportionate share of the costs of the 2017 field program and, assuming the full 2017 budget is spent, North Arrow’s diluted interest in the project is expected to be approximately 31%.

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