Credit Lake Results posted Little doubt that this leaked out a couple of weeks ago. Explains a lot about the stock behavior. More BS and delays
Arctic Star Diamond Corp. (the "Company") has completed this round of drilling its Credit Lake property, due to impending break-up of winter conditions. Work will recommence once ice has cleared from the lakes which will allow float plane access. The company deployed 2 ground gravity crews ( 56 kilometers completed), 1 Max-min crew ( 20-kilometer completed) and on ground magnetic/ snow mobile crew (1008 kilometers completed) on the 27th of March to generate drill targets. The work focused at the head of the prominent South Coppermine kimberlite indicator dispersal train in an attempt to locate the primary kimberlite source. Although kimberlite was not encountered the company remains convinced that the geochemical evidence demonstrates that there are kimberlites on this property. In total 9 drill holes were completed totaling 812m, these targeting magnetic and gravity anomalies that either proved to be magnetic pegmatites or depressions filled with till.
The plan is to re-mobilize on July 7th back to take more till samples, conduct geological mapping and undertake more gravity surveys. The Seismic refraction method will also be deployed to discriminate deep till from legitimate kimberlite targets. Once there are several kimberlite targets at hand the drill testing will commence.
Buddy Doyle, VP of Exploration said, "I remain convinced that there are kimberlites to be found on the Credit Lake property the geochemical evidence is clear. I have dealt with similar situations in the past, where the geochemistry tells you a kimberlite is there, but when there is on obvious drill target generated by geophysics and in the past persistence won and we found the kimberlite source. I believe persistence will work here as well."
Phil Larson, independent glacial geologist working on the property, said, " Arctic brought me on to the property to study the glacial geology, the till provenance, and the kimberlite indicators in till anomalies. The various lines of evidence show that the till is locally derived, the indicators form several parallel ribbon-like dispersal trains in the till, and at least five of these terminate on the property. The dispersal trains are pristine, and show no evidence of reworking by multiple glacial events or modification by fluvial processes. Ice flow measurements clearly indicate the indicators are sourced from the SE, and not from any of the known kimberlites in the area."
Kevin Kivi, independent consulting diamond geologist, says, "I agree with Buddy's and Phil's comments, and furthermore the chemistry of the indicators in the till is very encouraging and demonstrate the source will be diamondiferous. The team has discovered well-hidden kimberlites before, and we will do it again."
The Qualified Person for the Credit Lake Project, who holds responsibility for the accuracy of the technical information contained in this news release is Buddy Doyle.