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EXPLORATION FIELDWORK UNDERWAY
Trading Symbol: TSXV: NAR
North Arrow Minerals Inc. (TSXV: NAR) (" North Arrow ") is pleased to report new lithium assays from the company's 100% owned MacKay Lake Property, Northwest Territories and that additional exploration work is underway.
Six of eight rock sawn channel samples from the MK1 spodumene pegmatite, discovered in June 2023 , have returned Li 2 O assay results of 1.16%, 1.34%, 1.87%, 1.90%, 1.93% and 2.30% . These samples were collected over 1m intervals in July 2023 and compliment the assays of prospecting grab samples that returned from 2.45% to 3.74% Li 2 O as reported in North Arrow news release dated August 14, 2023 .
Based on limited field mapping, MK1 is interpreted as a series of irregular sub-parallel pegmatite dykes ranging from 0.5 m to > 10 m in width (see image below). Spodumene mineralization comprises up to 20% of the pegmatite exposures with crystals ranging from 2-4 cm in length. The pegmatites are intercalated with metasedimentary rocks over an estimated combined width of 150 m and an interpreted strike extent of over 400 m . Bedrock exposures are of relatively low relief with significant potential to extend the pegmatite along strike beneath overburden.
Ken Armstrong , President and CEO of North Arrow, commented "The MK1 pegmatite lies within the same prospective metasedimentary rocks as the SD spodumene pegmatites located on North Arrow's LDG property approximately 20 km to the north and reported in North Arrow news release date September 18, 2023 . Today's channel sample results confirm the potential of MK1 to host a significant new lithium discovery, a concept we look forward to testing as part of a spring 2024 drill program. Beyond MK1, the MacKay property covers an additional 14 km length of this prospective metasedimentary corridor which is geologically very similar to the host rocks of the spodumene pegmatites being evaluated in the Yellowknife Pegmatite Province. We believe the opportunity for additional discoveries of spodumene pegmatites is significant and a field program is presently underway on both the MacKay and LDG properties, consisting of additional mapping, prospecting, sampling and ground geophysical surveys, ahead of drilling to be conducted in spring 2024."
The MacKay property is located adjacent to the Lac de Gras winter road, and continued evaluation will benefit from use of the road as well as North Arrow's existing land use permit and exploration camp on the LDG property.
Sample Collection, Laboratory Procedures and QA/QC
Samples were collected in the field from rock sawn channels, cut using a portable rock saw. Sampled material was collected at 1m intervals, chipped from between parallel incisions cut nominally 3-4 cm apart and 3-4 cm deep. Samples were collected into plastic polymer bags, sealed and transported to ALS Global, where sample preparation and analytical work was conducted. Samples were prepared using ALS method CRU-31 (crushing to 70% passing through a 2 mm screen), SPL-21 (split sample - riffle split), and PUL-31 (pulverize up to 250 g to 85% passing through a 75-micron screen). A 0.2 g subsample of the pulverized material was analyzed for 52 elements using a sodium peroxide fusion by ICP-MS (ALS method ME-MS89L). Samples returning >500ppm Li were also assayed using a 0.2 g subsample dissolved in a sodium peroxide solution and analyzed for lithium according to ALS method Li-ICP81. Lithium results are reported by the lab as % Li and have been multiplied by 2.153 to convert to % Li 2 O. Results passed QA/QC screening at ALS.
About North Arrow Minerals
North Arrow is a Canadian based exploration company focused on the identification and evaluation of lithium and other exploration opportunities in Canada . North Arrow's management, board of directors and advisors have significant successful experience in the global exploration and mining industry. North Arrow is evaluating spodumene pegmatites at its 100% owned LDG, MacKay, and DeStaffany Lithium Projects (NWT) and is also exploring for lithium in Nunavut at the Bathurst Inlet pegmatite field and continues work to identify additional lithium exploration opportunities in northern Canada . North Arrow also owns interests in the Naujaat (NU), Pikoo (SK), and Loki (NWT) Diamond Projects and maintains a 100% interest in the Hope Bay Oro Gold Project, located approximately 3 km north of Agnico Eagle's Doris Gold Mine , Nunavut . North Arrow's exploration programs are conducted under the direction of Kenneth Armstrong , P.Geo. (NT/NU, ON), President and CEO of North Arrow and a Qualified Person under NI 43-101. Mr. Armstrong has reviewed and approved the technical contents of this press release.
/s/ "Kenneth A. Armstrong"
Kenneth Armstrong
President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking statements" including but not limited to statements with respect to North Arrow's plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although North Arrow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. North Arrow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.
SOURCE North Arrow Minerals Inc.
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