EXPLORATION FIELDWORK UNDERWAY
Trading
Symbol: TSXV: NAR
VANCOUVER, BC, Sept. 20,
2023 /CNW/ - North Arrow Minerals
Inc. (TSXV: NAR) ("North Arrow") is pleased to
report new lithium assays from the company's 100% owned MacKay Lake
Property, Northwest Territories,
and that additional exploration work is underway.
Six of eight rock sawn channel samples from the MK1 spodumene
pegmatite, discovered in June 2023,
have returned Li2O assay results of 1.16%,
1.34%, 1.87%, 1.90%, 1.93% and 2.30%. These samples were
collected over 1m intervals in
July 2023 and compliment the assays
of prospecting grab samples that returned from 2.45% to 3.74%
Li2O as reported in North Arrow news release dated
August 14, 2023.
Based on limited field mapping, MK1 is interpreted as a series
of irregular sub-parallel pegmatite dykes ranging from 0.5 m to >10 m
in width (see image below). Spodumene mineralization comprises up
to 20% of the pegmatite exposures with crystals ranging from 2-4 cm
in length. The pegmatites are intercalated with metasedimentary
rocks over an estimated combined width of 150 m and an interpreted strike extent of over
400 m. Bedrock exposures are of
relatively low relief with significant potential to extend the
pegmatite along strike beneath overburden.
Ken Armstrong, President and CEO
of North Arrow, commented "The MK1 pegmatite lies within the same
prospective metasedimentary rocks as the SD spodumene pegmatites
located on North Arrow's LDG property approximately 20 km to the
north and reported in North Arrow news release date September 18, 2023. Today's channel sample
results confirm the potential of MK1 to host a significant new
lithium discovery, a concept we look forward to testing as part of
a spring 2024 drill program. Beyond MK1, the MacKay property covers
an additional 14 km length of this prospective metasedimentary
corridor which is geologically very similar to the host rocks of
the spodumene pegmatites being evaluated in the Yellowknife
Pegmatite Province. We believe the opportunity for additional
discoveries of spodumene pegmatites is significant and a field
program is presently underway on both the MacKay and LDG
properties, consisting of additional mapping, prospecting, sampling
and ground geophysical surveys, ahead of drilling to be conducted
in spring 2024."
The MacKay property is located adjacent to the Lac de Gras
winter road, and continued evaluation will benefit from use of the
road as well as North Arrow's existing land use permit and
exploration camp on the LDG property.
Sample Collection, Laboratory
Procedures and QA/QC
Samples were collected in the field from rock sawn channels, cut
using a portable rock saw. Sampled material was collected at
1m intervals, chipped from between
parallel incisions cut nominally 3-4 cm apart and 3-4 cm deep.
Samples were collected into plastic polymer bags, sealed and
transported to ALS Global, where sample preparation and analytical
work was conducted. Samples were prepared using ALS method CRU-31
(crushing to 70% passing through a 2 mm screen), SPL-21 (split
sample - riffle split), and PUL-31 (pulverize up to 250 g to 85%
passing through a 75-micron screen). A 0.2 g subsample of the
pulverized material was analyzed for 52 elements using a sodium
peroxide fusion by ICP-MS (ALS method ME-MS89L). Samples returning
>500ppm Li were also assayed using a 0.2 g subsample dissolved
in a sodium peroxide solution and analyzed for lithium according to
ALS method Li-ICP81. Lithium results are reported by the lab as %
Li and have been multiplied by 2.153 to convert to %
Li2O. Results passed QA/QC screening at ALS.
About North Arrow
Minerals
North Arrow is a Canadian based exploration company focused on
the identification and evaluation of lithium and other exploration
opportunities in Canada. North
Arrow's management, board of directors and advisors have
significant successful experience in the global exploration and
mining industry. North Arrow is evaluating spodumene pegmatites at
its 100% owned LDG, MacKay, and DeStaffany Lithium Projects (NWT)
and is also exploring for lithium in Nunavut at the Bathurst Inlet pegmatite field
and continues work to identify additional lithium exploration
opportunities in northern Canada.
North Arrow also owns interests in the Naujaat (NU), Pikoo (SK),
and Loki (NWT) Diamond Projects and maintains a 100% interest in
the Hope Bay Oro Gold Project, located approximately 3 km north of
Agnico Eagle's Doris Gold Mine,
Nunavut. North Arrow's exploration
programs are conducted under the direction of Kenneth Armstrong, P.Geo. (NT/NU, ON), President
and CEO of North Arrow and a Qualified Person under NI
43-101. Mr. Armstrong has reviewed and approved the technical
contents of this press release.
North Arrow Minerals Inc.
/s/ "Kenneth A. Armstrong"
Kenneth Armstrong
President and CEO
Neither the TSX Venture Exchange nor its
Regulation Services Provider accepts responsibility for
the adequacy or accuracy of this release.
This news release contains "forward-looking statements"
including but not limited to statements with respect to North
Arrow'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 North Arrow 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. North Arrow undertakes no
obligation or responsibility to update forward-looking statements,
except as required by law.
SOURCE North Arrow Minerals Inc.