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| | Thu Jul 15, 2010
Arctic Star Drill Hole Returns 4.55m of 0.67g/t Pt, 1.54g/t Pd, and 0.17g/t Rh at Credit Lake, NT.
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| | Arctic Star Diamond Corp. ("Arctic" or the "Company") is pleased to report the outcome of recent exploration targeting magmatic nickel-copper-cobalt and platinum group element (Ni-Cu-Co-PGE ) bearing sulphides on the Credit Lake property NT. Drill hole 10CR-06 cut 4.55m disseminated mineralization that returned 0.67g/t Platinum, 1.54g/t Palladium and 0.17g/t Rhodium, along with significant Nickel @ 0.47%, Copper @ 0.475% and Cobalt @ 0.04% mineralization.
Drill hole10CR-06 was targeted 100m east of the massive sulphide lens known as the Providence Lake Nickel Discovery (PLND), and cut mineralized komatiite from 94-107.7m and mineralized mafic amphibolite from 126.5-131.05m (Table 1).
Table 1. Diamond Drill hole 10CR-06 weighted averages of Ni, Cu, Co assays (ALS Chemex) and PGE analysis (INAA by Becquerel Laboratories).
| From |
To |
Width |
Ni% |
Cu% |
Co% |
Pt g/t |
Pd g/t |
Os g/t |
Ru g/t |
Ir g/t |
Rh g/t |
| 94 |
107.7 |
13.7 |
0.11 |
0.23 |
0.01 |
0.20 |
0.39 |
Tr |
Tr |
0.013 |
0.030 |
| 126.5 |
131.05 |
4.55 |
0.47 |
0.47 |
0.04 |
0.67 |
1.54 |
0.024 |
Tr |
0.074 |
0.165 |
Target A11, a strong conductor with anomalous soil samples, located 3.5 km west of PLND sits in the same geological setting as the Ni-Cu-Co-PGE discovery. A 400m strike length of the A11 conductor was tested with two diamond drill holes and one RC drill hole that confirmed komatiite and ultramafic rocks in the area. Disseminated sulphides were discovered which returned nickel values up to 400ppm from mineralized mafic volcanic in contact with an ultramafic intrusive.
Crews completed belt-wide detailed ground magnetics in the nickel belt, 15 HLEM MaxMin geophysical grids, a detailed ground gravity survey over the Providence Nickel discovery, 7 BQTW diamond drill holes (965.28m), and 10 Hornet Reverse Circulation (RC) drill holes (343.4m) during a 6-week exploration program that concluded May 4, 2010.
A Boyles Super 300 diamond drill and Hornet RC rig remain on the property to resume exploration next season. Tables 2 and 3 provide UTM locations (NAD83 z12) for all diamond drill and RC drill holes completed during the spring exploration program.
Table 2. 2010 BQTK Diamond Drilling
| DDH |
Easting |
Northing |
Azimuth |
Inclination |
Depth (m) |
| 10CR-01 |
458399 |
7166058 |
180° |
-50° |
221 |
| 10CR-02 |
461188 |
7165720 |
194° |
-45° |
160 |
| 10CR-03 |
463160 |
7165278 |
165° |
-50° |
47.85 |
| 10CR-04 |
462621 |
7165315 |
180° |
-45° |
142.33 |
| 10CR-05 |
457995 |
7165976 |
180° |
-45° |
136 |
| 10CR-06 |
461592 |
7165375 |
186° |
-82° |
220 |
| 10CR-07 |
486299 |
7151370 |
0° |
-90° |
38.1 |
Table 3. 2010 Hornet RC Drilling
| RC Hole |
Easting |
Northing |
Azimuth |
Inclination |
Depth (m) |
| 10RC-01 |
459256 |
7166410 |
0° |
-90° |
39.00 |
| 10RC-02 |
458777 |
7166354 |
0° |
-90° |
32.00 |
| 10RC-03 |
458777 |
7166335 |
180° |
-46° |
21.00 |
| 10RC-04 |
458777 |
7166374 |
180° |
-50° |
30.00 |
| 10RC-05 |
458964 |
7166222 |
180° |
-50° |
35.00 |
| 10RC-06 |
458095 |
7165937 |
180° |
-50° |
35.00 |
| 10RC-07 |
459448 |
7166028 |
180° |
-55° |
51 |
| 10RC-08 |
483187 |
7158513 |
0° |
-90° |
17.00 |
| 10RC-09 |
486443 |
7151473 |
147° |
-50° |
34.00 |
| 10RC-10 |
486456 |
7151173 |
97° |
-50° |
49.40 |
Diamond exploration consisted of 9 detailed walkmag grids, and testing one gravity anomaly and two magnetic anomalies using the Hornet RC Drill (RC drill holes 10RC-08, 10RC-09 and 10RC-10), and testing the Abyss bathymetric target with diamond drill hole 10CR-07. The abyss is a 10.5 m deep bathymetric low in a shallow lake at the head of the Alpha kimberlite indicator mineral dispersal train. A bathymetry survey was conducted on the ice, and a vertical hole was drilled in the deepest part of the Abyss. Drilling failed to intersect kimberlite.
The Qualified persons for this news release as per the guidelines of NI 43-101 are Buddy Doyle (AUSIMM) and Kevin Kivi (P.Geol. NAPEG).
For further information on this or any of our other projects please visit www.arcticstardiamond.com or call us at 604-689-1799.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR DIAMOND CORP.
Mr. Patrick Power
President & CEO
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 the TSX Venture Exchange nor it's Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.
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