As work continues on the northern Finland property, Arctic Star Exploration TSXV:ADD announced a new kimberlite discovery from its Timantti diamond project on February 20. Covered only by very thin glacial overburden, the find results from four one-metre-deep pits containing kimberlite. The company has christened the body Grey Wolf, distinguishing it from the property’s other Wolf kimberlites. A rig has already been mobilized to the discovery, while a 150-kilogram sample undergoes assays to test for diamonds and kimberlite indicator minerals, and to assess mineral chemistry.
The news follows an announcement earlier this month that historic drill core confirmed the presence of a new Timantti kimberlite 230 metres west of the project’s diamondiferous Black Wolf kimberlite.
Part of an ambitious winter campaign that began in November, ongoing EM and gravity surveys have identified multiple targets for excavation or drilling. Optimism has been bolstered by “the expression of diamond-favourable indicator minerals in the region, which the Wolf kimberlites cannot explain,” the company stated.
In addition to the Finnish flagship, Arctic Star also holds diamond interests in Nunavut and the Northwest Territories’ Lac de Gras region. The company’s Cap property in British Columbia, meanwhile, hosts an exceptionally rare carbonatite-syenite complex that offers potential for several commodities. Results from sampling and one drill hole released in September showed “highly anomalous” niobium, rare earths and phosphate grades.
The company closed oversubscribed private placements totalling $1.69 million in November.