North Arrow recovers 99 diamonds of +9 DTC at Naujaat Project, Nunavut

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North Arrow recovers 99 diamonds of +9 DTC at Naujaat Project, Nunavut

North Arrow Minerals Inc. [NAR-TSXV; NHAWF-OTC] reported final diamond recoveries from a 1,823.6-dry-tonne bulk sample collected in 2021 from the Q1-4 diamond deposit at the 100%-owned Naujaat diamond project 9 km northeast of Naujaat, formerly Repulse Bay, Melville Peninsula, Nunavut. Today’s results, representing the final 30% (498 dry tonnes) of the bulk sample, are entirely from the A88 unit of the Q1-4 deposit and follow results from the initial 70% (1,326 dry tonnes) of the sample that were previously reported on April 26 2022. Highlights of today’s results include:

The A88 bulk sample recovered 99 diamonds greater than +9 DTC weighing 55.80 carats from 498 dry tonnes. The three largest recovered diamonds were 7.00, 2.17 and 2.02 carats. The 7.00-carat stone is the largest diamond recovered to date from the Q1-4 diamond deposit.

There were 10.1% fancy colour diamonds; 10 of 99 diamonds classify as fancy colour diamonds (12.8% by carat weight); 30% of fancy diamonds classify as either “intense” or “vivid” – the two highest colour saturation classes and an important indicator of potential value in fancy colour diamonds.

A total of 90% of the fancy diamonds classify with orange as the primary colour – orange is considered amongst the rarest colours for natural diamonds. Over 9 DTC sample grade of 11.2 cpht (carats per hundred tonnes) compare favorably with a smaller sample collected from the same geological unit in 2017 (11.2 cpht).

Ken Armstrong, President and CEO, commented, “The 2021 bulk sample has confirmed the presence of an important, potentially high value population of fancy orange and yellow diamonds in both the A28 and A88 units of the Q1-4 diamond deposit. This is highly encouraging, as is the recovery of a seven carat diamond – the largest stone recovered to date from the Q1-4 deposit and, although it classifies as boart, an indication of the potential of Q1-4 to produce larger diamonds. Next steps in our ongoing evaluation will include modelling of the size distributions of the fancy diamonds, as well as consideration of options for test cutting and polishing the fancy colour diamonds to better understand the colour characteristics of the final, polished diamonds, and their potential for enhanced value in the creation of luxury jewelry.”

Peter Ravenscroft, Managing Director and CEO of Burgundy Diamond Mines Ltd, commented, “The completion of sample processing and diamond recovery from the 2021 bulk sample has further confirmed the presence of a potentially high value, fancy orange and yellow diamond population in the Q1-4 kimberlite.”

The 2021 bulk sample consists of 2,500 sample bags (1,823.6 dry tonnes) collected from three sample pits (Pits B, D, & E) at the multiphase Q1-4 kimberlite, located just seven kilometres from the project laydown near the Hamlet of Naujaat. The sample was divided into five subsamples for processing purposes. The new results reported today are from 498 dry tonnes (701 bags) collected from the A88 unit (Pit E, approximately 280m southwest of Pit D). Results from the first four subsamples from Pits B and D within the A28 unit (1,316 dry tonnes), were reported on April 26 2022.

The purpose of the 2021 sample is to acquire further information on the coarser sizes of the Q1-4 diamond population, with particular emphasis on potential high value fancy colour diamonds. As such, colour characterization studies of the diamonds have been completed using the industry standard grading scale established by the Gemological Institute of America (GIA). For A882021, 10 of the 99 diamonds (10.1%) classify as fancy colour (12.8% by carat weight) with 9 of the fancy colour diamonds (90%) having orange as the primary colour and 3 diamonds (30%) categorized as having either intense or vivid colour saturations. The number of diamonds in each fancy colour grade is provided below.

The $5.6M bulk sample program is being funded by Burgundy as part of a June 1, 2020 option agreement, under the terms of which, with completion of the bulk sample program, Burgundy will earn a 40% interest in the Naujaat Project. Further details on the collection of the bulk sample can be found in North Arrow’s news release dated August 19, 2021.