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RAPAPORT... North Arrow Minerals Inc. recovered 384.28 carats of rough diamonds from a bulk sample at the Qilalugaq diamond project, the Q1-4 kimberlite, located nine kilometers from the Hamlet of Repulse Bay (Naujaat) in Nunavut, Canada. The overall sample grade was 28.40 carats per hundred tonnes (cpht) and the sample included 30 diamonds that were larger than 3 grainers and 15 diamonds larger than 1 carat. Yellow diamonds, representing a range of hues and tones, comprised approximately 9 percent by stone count and 21.5 percent by carat weight.
Ken Armstrong, the president and CEO of North Arrow, said, "These final diamond results from the Q1-4 sample confirm earlier indications that the yellow diamond population in the Q1-4 kimberlite is significant and that the proportion of yellow diamonds increases, both by stone count and carat weight, as the diamonds move into the larger size classifications. We are also pleased to report that the diamond parcel has been shipped to Antwerp in preparation for the upcoming diamond valuation exercise. The purpose of the valuation will be to provide an indication of the value of the diamonds hosted within the Q1-4 kimberlite and, if positive, could provide the basis for a preliminary economic assessment of a potential mine development at the Qilalugaq project." North Arrow is working toward earning an 80 percent interest in the Qilalugaq diamond project from Stornoway Diamond Corp., subject to a one-time back-in right of Stornoway's, by collecting and processing the bulk sample.
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