April 12th, 2016 - Arctic Star Exploration Corp. (TSX.v: ADD) (the "Company" or "Arctic Star") would like to update shareholders of its T-Rex diamond exploration property in NWT, Canada.
Arctic Star has 100% interest in T-Rex, which consists of 62 claims totaling 54,000 hectares. T-Rex is situated 22km NNE of the Diavik diamond mine along a wide corridor of economic diamond deposits that include kimberlite pipes A-21, A418, A154S, A154N, A841, Lynx, Misery, Point Lake, and Jay. This kimberlite corridor includes the Hardy Lake kimberlite cluster where Arctic Star holds 13 kimberlites.
The closest economic kimberlite to the T-Rex property is Jay, only 10 km SW, part of the Buffer Zone joint venture between Dominion Diamonds Corp (64.3%) and Archon Minerals Ltd (34.7%). The Jay Project Pre-feasibility study (2015) reports a resources estimate of 45.6 Mt with grade 1.9 Ct/t for 84.6 million carats. Jay will be a stand-alone open-pit operation that is expected to supply 4.3m dry metric tonnes per annum for 11 years beyond the current projected closure of the Ekati Diamond Mine.
Arctic Star has compiled available public domain data and has identified several Kimberlite Indicator Mineral (KIM) dispersal trains that have not been explained by the current kimberlite inventory. Careful ground follow-up prospecting, mapping, sampling and geophysics is required to discover new kimberlite and explain these headless KIM dispersal trains.
Previous explorers significantly increased the size of diamond-bearing kimberlites on the T-Rex property by continuing to explore a pipe after discovery of its magnetic phase. Ground gravity surveys and subsequent core drilling allowed the Jack Pine kimberlite to grow to 5 hectares. Arctic Star has the opportunity to continue the process of searching for diamond-rich phases of existing kimberlites defined by magnetics alone and one or two core holes.
Buddy Doyle Bc App Sc Geol. MAUSIMM, the author of this press release, has 31 years' experience in geology, with much of this time focused on successful diamond exploration. Kevin Kivi, PGeol and Qualified Person, has approved the technical content of this press release.
For further information, please visit www.arcticstar.ca and or call or office at 604-689-1799.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.
Patrick Power
Patrick Power,
President
Forward Looking Statements:
This news release contains "forward-looking statements" including but not limited to statements with respect to Arctic Star's plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although Arctic Star has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Arctic Star undertakes no obligation or responsibility to update forward-looking statements, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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