A previously acquired property gets new attention as Arctic Star Exploration TSXV:ADD applies for a drill permit to search for niobium, tantalum and rare earth elements in central British Columbia.
Field work during 2010 on the 2,825-hectare CAP project found 481 to 981 parts per million niobium, 1,125 to 3,191 ppm zirconium, over 100 ppm lanthanum, over 100 ppm cerium and over 50 ppm neodymium. Two historic, non-43-101 samples returned strongly anomalous results of 0.13% and 0.1% rare earth elements, the company stated.
A circular magnetic anomaly of about three to five kilometres’ diameter could indicate a carbonatite or similar intrusion at depth, Arctic Star added. “Carbonatite-related deposits are a major host for rare metals, such as niobium and tantalum, and rare earth elements.”
Located about 80 kilometres from Prince George, CAP can be reached by logging roads during the summer and helicopter year-round.
In December the company closed a second tranche of financings totalling $1.47 million, including $300,000 of flow-through earmarked for CAP.
In November Arctic Star announced a JV with Margaret Lake Diamonds TSXV:DIA on their newly compiled Diagras property in the Northwest Territories’ diamondiferous Lac de Gras region.