The board of directors of the North Arrow Minerals approved the exploration program and budget to complete a bulk sampling program at the Qilalugaq diamond project
The program aims to recover a diamond parcel of approximately 500 carats to assess an initial value estimate for the diamonds in the Q1-4 kimberlite while the company is funding the bulk sampling program as part an option agreement with Stornoway Diamond.
North Arrow president and CEO Ken Armstrong said that the Q1-4 is a large kimberlite with a good diamond grade and location on tide water near the hamlet of Repulse Bay.
"Northern Canada, including Nunavut, has a history of successful mine development for mineral deposits located on tide water and a positive diamond valuation for the Q1-4 kimberlite has the potential to establish Qilalugaq as one of the more important development track diamond projects in Canada," Armstrong added.
The 2014 program comprises collection of approximately 1,500 tons from the 12.5h Q1-4 kimberlite, located 7km from tidewater on the Arctic Ocean and 9km from Repulse Bay.
North Arrow Minerals will begin sample collection in July while the sample will be processed for the recovery of commercial sized (+0.85 mm) diamonds.
