Arctic Star Recovers Another 758 Diamonds at Timantti Diamond Project, Finland

Arctic Star Recovers Another 758 Diamonds at Timantti Diamond Project, Finland

Arctic Star Exploration declared the second set of results from drilling at the White Wolf kimberlite occurrence at its 100% owned Timantti Diamond Project in Finland during which the Company recovered a total of 758 diamonds.

With 274 diamonds having been recovered for the previous programme, the total number of diamonds recovered to date from the White Wolf kimberlite now stand at 1,032 stones. These were recovered from a total of 409.3 kg of kimberlite.

Arctic Star completed initial exploration and delineation drilling at the Project in Spring 2018, in the course of which four separate kimberlite occurrences were identified. These include the White Wolf, Black Wolf, Grey Wolf and Vasa Dyke Swarm.

“Results from the White Wolf kimberlite will now form the basis of the interpretation process,” Arctic Star said. “This work is based on the size distribution of the diamond results for the purpose of providing an estimate of overall grade as well as guidance for size of bulk sample, should a decision to proceed with bulk sampling be made.”

The Company indicated that a bulk sample containing more than 1,000 carats of commercial sized diamonds would be needed to obtain a view of the average price of the diamonds in the kimberlite. It was only then that the first economic estimate can be made.

Buddy Doyle, VP of Exploration stated, “We are very encouraged by the diamond results from White Wolf kimberlite, we await the diamond results from Black Wolf, and Grey Wolf, expected prior to the end of this month. With all the results in hand we can plan the next stage for these kimberlites. However, our focus will be more on finding more, we expect we are in a larger kimberlite field based on diamond indicators in the till in the area with at least several separate sources. It would make more sense to explore, find and do similar caustic fusion analysis to make an inventory of kimberlites that need bulk sampling, prior to doing this exercise on the Wolves.”

Currently, a summer exploration programme is underway to identify additional kimberlites including esker and till sampling, in addition to airborne and ground geophysical surveys.

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