North Arrow Confirms Four Spodumene Pegmatites at Ldg Project, NT Drilling Planned to Start IN August
Suite 960 – 789 West Pender Street, Vancouver, BC, Canada V6C 1H2
Tel: 604-668-8355
News Release
NORTH ARROW CONFIRMS FOUR SPODUMENE PEGMATITES AT LDG PROJECT, NT
DRILLING PLANNED TO START IN AUGUST
August 10, 2023 Trading Symbol: TSXV: NAR #23-14
North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) is pleased to report it has confirmed at least four spodumene
pegmatites at the company’s 100% owned LDG Property, Northwest Territories.
Highlights of this recently completed program, initially announced in North Arrow news release dated July 13, 2023, include:
• Four spodumene-bearing pegmatites have been identified within 5 k m of the winter road connect ing the Diavik
diamond mine, 20 km to the north, with the city of Yellowknife, and within 1 km of an alternative winter road
alignment used in the past.
• The pegmatites remain open along strike and have been traced over estimated extents of 300m to >500m, based on
interpreted continuity of low-relief outcrop exposures. Individual outcrops range from metre-scale to near continuous
exposures over 200m in strike length.
• The pegmatites are interpreted to dip steeply at ~ 75-80 degrees with estimated widths ranging from 5m to 50m.
Widths are poorly constrained by abundant overburden and rarely observed contacts with metasedimentary host
rocks.
• Pegmatite mineralogy consists of plagioclase,
potassium feldspar, qu artz, spodumene,
muscovite and tourmaline. Spodumene is
abundant in the pegmatites, locally reaching
15-20% of observed outcrops, in some cases
with very coarse crystals up to 50 cm in size.
• 51 channel and regional prospecting samples
have been submitted to ALS Global in
Yellowknife with results to be reported when
received.
• Abundant overburden in the area provides
significant scope for expanding these
showings considerably.
Ken Armstrong, President and CEO o f North Arrow
commented “ In a very short period of time, North
Arrow has confirmed a new spodumene pegmatite field
within our 100% owned LDG Project in the Northwest
Territories. Based on t he size potential of these
pegmatites, their location immediately adjacent to
transportation infrastructure provided by the Lac de
Gras winter road, and the fact that an exploration camp
and drilling permit are already in place, we h ave
refocused our 2023 drilling plans to test these
discoveries starting in late August . The program is
intended to rapidly evaluate the pegmatites through
Spodumene (lithium silicate) megacrysts found the at SD4 Pegmatite,
LDG Project.
approximately 2,000m of delineation drilling and sampling, which will provide clarity of their full size and mineralization
potential.”
Drilling of North Arrow’s 100% owned DeStaffany Lithium Project, updated in a North Arrow news release dated July 11,
2023, will occur in 2024.
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 evaluat ing
spodumene pegmatites at its 100% own ed
DeStaffany, LDG and MacKay 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), Mel
(NU), 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.
Channel sampling of the SD1 Pegmatite, LDG Project, NWT.
Spodumene megacryst at SD2 Pegmatite, LDG Project, NWT.
North Arrow Minerals Inc.
/s/ “Kenneth A. Armstrong”
Kenneth Armstrong
President and CEO
For further information, please contact:
Ken Armstrong or Nick Thomas
Tel: 604-668-8354 or 778-229-7194
Website: www.northarrowminerals.com
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 es timation 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, ta x 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 as surance that such statements will
prove to be accur ate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, read ers 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.