Arctic Star Exploration (TSXV: ADD) has made a major new discovery at its Diagras project in the Northwest Territories. The company has discovered a new kimberlite pipe under its ongoing drill program, referred to as Arbutus.
The pipe is currently believed to be 200 metres long and 25 metres wide based on current drill intercepts and previously completed geophysics. The discovery of the pipe follows the company drilling a magnetic low southeast of the Finlay Kimberlite, on what was determined to be a Class B target based on an EM survey.
Drill core that intersected the kimberlite is said to contain abundant diamond and mantle indicator minerals, with early indications pointing to a coherent kimberlite with coarse sub centimeter olivines. Several drill holes were historically conducted by De Beers 210 metres from the current drill target in the 1990’s, although the results of that drilling was never made public.
Two holes have been conducted on the Arbutus kimberlite, with hole DG2022-08 intersecting the kimberlite at a depth of 7.8 metres through to 28.2 metres, while hole DG2022-09 intersected the kimberlite at a depth of 9.0 metres through to 27.0 metres.
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Class B targets are currently said to be the firms main focus for drilling, which lead to the discovery of five pipes last year. The pipes under this classification tend to consist of multiple eruptive events with multiple lobes, forming complexes with complex shapes rather than the classic view of kimberlites largely being “carrot-shaped” bodies.
The discovery follows the firm releasing the results of a diamond type study just last month. Conducted by the Saskatchewan Research Council, it was identified that the firms Sequoia Kimberlite complex has 50% of its diamonds as being nitrogen free type IIa diamonds, while 33% are type IaA, and 17% are type IaB.
Arctic Star Exploration last traded at $0.115 on the TSX Venture.
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