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| | Thu Mar 25, 2010
Credit Lake Property - Drill Testing Commences on Nickel and Diamond Targets
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| | Arctic Star Diamond Corp. ("Arctic" or the "Company") is pleased to report that our field crews have mobilized to the Credit Lake camp and field work has commenced. Drilling testing will commence in the next 48 hours utilizing a light weight heli-portable Reverse Circulation (RC) drill rig. The drill rig will initially target some of the shallower nickel targets. The concept is to intercept these targets with the RC rig and then follow-up successful holes with a diamond drill coring rig.
After testing the nickel targets, the RC rig will be deployed to test kimberlite targets at the head of the indicator mineral trains.
In the eastern part of the Credit Lake property the Company has recognized three separate and distinct indicator trains, named the south Coppermine (Alpha) the Central and the Northern Coppermine anomalies. The Alpha and Northern trains appear to terminate on the Credit Lake property. The prime drill target that may explain the Alpha train has been named the "Abyss", it consists of a Max Min EM anomaly coincident with a prominent circular bathymetry feature, 180m by 120m in area.
On the Northern train the prime targets are 2 gravity anomalies. Both are gravity lows, one is 0.6 milligals in magnitude, and the other is 0.4 milligals. The stronger anomaly is a double lobed feature, 430m by 230m in area. The other anomaly is 490m by 300m in area.
The above named targets and a number of other magnetic features will be drill tested with the RC rig. If kimberlite is intercepted, the Company will follow up with a diamond rig, to retrieve core for caustic fusion, microdiamond testing.
The Qualified person for this news release as per the guidelines of the NI 43-101 is Buddy Doyle.
Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. There can be no assurances that future developments affecting Arctic will be those anticipated by management.
Neither 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.
Capitalization Report for Arctic Star Diamond Corp
Shares Issued: 257085724
Shares Escrow: 937015
TSX Venture closing price for Arctic Star Diamo
Date: 2010/03/24
Closing Price: 0.060
TEL: 604.689.1799 Pat Power or Thomas Robertson - 604-608-0359
FAX: 604.689.8199
INTERNET: www.arcticstardiamond.com |
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