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RAPAPORT... North Arrow Minerals Inc. began its program of ground geophysical surveys for the Redemption diamond project in the Northwest Territories of Canada. The property is located 32 kilometers southwest of, and 47 kilometers west of, the Ekati and Diavik diamond mines.
The exploration program will consist of ground geophysical surveys over selected targets that have already been prioritized based on the results of a 2013 airborne gravity gradiometry survey as well as from a review of earlier acquired airborne and ground magnetic and electromagnetic geophysical datasets.
Twenty-one grids are planned for the program, covering approximately 40 individual targets, and North Arrow expects to complete the program in approximately 28 days. Survey results will be used to select targets for follow-up exploration, including drilling.
North Arrow is exploring the Redemption property under an option agreement with Arctic Star Exploration Corporation, under which the company can earn a 55 percent interest by incurring $5 million in exploration expenditures prior to July 1, 2017, including a firm commitment to spend $1 million prior to July 1, 2014. North Arrow is also planning to collect a bulk sample from the Q1-4 kimberlite at its Qilalugaq project and is evaluating each of the Pikoo, Lac de Gras, Mel, Luxx and Timiskaming diamond projects in Canada.
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