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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (3750)12/25/2013 8:47:55 AM
From: Goose94Read Replies (1) of 202925
 
North Arrow Minerals (NAR-V) is waiting to hear if Stornoway Diamonds (SWY-T) will exercise its back-in right on the Pikoo diamond play in Northern Saskatchewan. North Arrow has just earned an 80-per-cent interest in the grassroots play but Stornoway can claw back a 20-per-cent interest by repaying North Arrow triple its exploration expenses. The clock on that 60-day back-in right began ticking Nov. 18. At Pikoo, North Arrow hit kimberlite in several drill holes, including multiple hits into the PK-150 kimberlite. That rock produced the best diamond counts ever obtained in Saskatchewan. A 210-kilogram batch yielded 745 diamonds, including 23 that sat on a 0.85-millimetre mesh. Those stones weighed 0.28 carat, suggesting a commercial diamond content topping one carat per tonne. The small sample size and the erratic size distribution curve leave many questions unanswered so Stornoway may consider Pikoo just an exploration diversion from its planned $750-million mine at Renard in Quebec. North Arrow will undoubtedly do more drilling at Pikoo for next year. That work will include more exploration drilling and probably more tests of PK-150.

John Kaiser quote: North Arrow Minerals (NAR-V) PK-150 kimberlite have high grade potential. The only drawback is the size of kimberlite is small – there’s not the tonnage there. But it’s very encouraging to see.
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