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Summary

Location: Lac de Gras, Northwest Territories - 290 km northeast of Yellowknife
Size: 125,000 hectares
Ownership: 45% North Arrow (Dominion working to earn their 55% interest)
Stage: till sampling and geophysics; drill target generation
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 an option and joint venture agreement with Dominion Diamond Corporation under which Dominion is working to earn a 55% interest in the project by funding $5M of exploration over a 5 year period. Dominion is the most important diamond company in the NWT, owning an interest in both the Diavik (40%) and Ekati (80%) 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 conducted an extensive program of reverse circulation overburden drilling intended fully evaluate basal tills for kimberlite indicator minerals.  The program utilized a helicopter portable reverse circulation drill capable of sampling a complete till column to reach basal till not accessed by previous surficial till sampling. A total of 757 overburden reverse circulation drill holes (1,704 samples) tested the basal tills of the property for kimberlite indicator minerals (KIMs).  The 2013 exploration program was managed by Aurora Geosciences Ltd. of Yellowknife, NT and till samples were processed at Overburden Drilling Management Limited of Ottawa, ON.  Dominion has informally indicated that they incurred in excess of $5 million in exploration expenditures on the Lac de Gras Property in 2013 and have therefore earned their 55% interest.  North Arrow is currently working with Dominion to finalize a formal joint venture agreement intended to govern the further exploration and evaluation of the property.

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