NAR-V and SWY-T
Pikoo Project, Saskatchewan
During 2013, North Arrow completed a ten drill hole program of 2,002 meters at the Pikoo project, located approximately 120 kilometres east of La Ronge, Saskatechewan. The most significant discovery was kimberlite PK150, which is interpreted to be a 10 to 15 m wide, near vertical body, intersected over a 75 m strike length and open to depth and along strike. On November 5, 2013, North Arrow announced that a 209.7 kg sample of drill core from PK150 had returned 745 diamonds larger than the 0.106 mm sieve size, including 23 commercial sized diamonds larger than the 0.85 mm sieve size with a total weight of 0.2815 carats. The 2013 drilling program and the related diamond content analysis fulfilled the requirements of the Pikoo option work program.
Stornoway considers the early drill results from the Pikoo project to be encouraging. Stornoway has not exercised its back-in right under the Pikoo option agreement, but has indicated to North Arrow that it intends to participate in ongoing exploration and evaluation of Pikoo, to be conducted under an 80% (North Arrow) / 20% (Stornoway) participating joint venture arrangement. Exploration plans for 2014 are expected to include a kimberlite indicator mineral till sampling program designed to discover additional kimberlites within the 33,000 ha property. |
