North Arrow Reports Additional Lithium Assays from the Mackay Lithium Project, Nwt Exploration Fieldwork Underway
Suite 960 – 789 West Pender Street, Vancouver, BC, Canada V6C 1H2
Tel: 6 04 -668-8355
News Release
NORTH ARROW REPORTS ADDITIONAL LITHIUM ASSAYS FROM THE MACKAY
LITHIUM PROJECT, NWT
EXPLORATION FIELDWORK UNDERWAY
September 20, 2023 Trading Symbol: TSXV: NAR #23-18
North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) is pleased to report new lithium assays from the company’s
100% owned MacKay Lake Property, Northwest Territories, and that additional exploration work is underway.
Six of eight rock sawn channel samples from the MK1
spodumene pegmatite, discovered in June 2023, have
returned Li2O assay results of 1.16%, 1.34%, 1.87%,
1.90%, 1.93% and 2.30%. These samples were collected
over 1m intervals in July 2023 and compliment the assays
of prospecting grab samples that returned from 2.45% to
3.74% Li2O as reported in North Arrow news release dated
August 14, 2023.
Based on limited field mapping, MK1 is interpreted as a
series of irregular sub -parallel pegmatite dykes ranging
from 0.5 m to >10 m in width (see image below) .
Spodumene mineralization comprises up to 20% of the
pegmatite exposures with crystals ranging from 2-4 cm in
length. The pegmatites are intercalated with
metasedimentary rocks over an estimated combined width of 150 m and an interpreted strike extent of over 400 m. Bedrock
exposures are of relatively low relief with significant potential to extend the pegmatite along strike beneath overburden.
Ken Armstrong, President and CEO
of North Arrow , commented “ The
MK1 pegmatite lies within the same
prospective metasedimentary rocks
as the SD spodumene pegmatites
located on North Arrow’s LDG
property approximately 20 km to the
north and reported in North Arrow
news release date September 18,
2023. Today’s cha n nel sample
results confirm the potential of MK1
to host a significant new lithium
discovery, a concept we look
forward to testing as part of a spring
2024 drill program. Beyond MK1,
the MacKay property covers an
additional 14 km length of th is
Figure 1: Pegmatite outcrop at MK1 (rock hammer for scale)
Figure 2: MK1 zoom out – surface showing of
irregular, sub-parallel pegmatite dykes
intercalated with metasedimentary rocks
3.7 %
Li2O
2.5 %
Li2O
prospective metasedimentary corridor which is geologically very similar to the host rocks of the spodumene pegmatites being
evaluated in the Yellowknife Pegmatite Province. We believe the opportunity for additional discoveries of spodumene
pegmatites is significant and a field program is presently underway on both the MacKay and LDG properties, consisting of
additional mapping, prospecting, sampling and ground geophysical surveys, ahead of drilling to be conducted in spring 2024.”
The MacKay property is located adjacent to the Lac de Gras winter road, and continued evaluation will benefit from use of
the road as well as North Arrow’s existing land use permit and exploration camp on the LDG property.
Sample Collection, Laboratory Procedures and QA/QC
Samples were collected in the field from rock sawn channels, cut
using a portable rock saw. Sampled material was collected at 1m
intervals, chipped from between parallel incisions cut nominally
3-4 cm apart and 3-4 cm deep. Samples were collected into plastic
polymer bags , sealed and transported to ALS Global, where
sample preparation and analytical work was conducted. Samples
were prepared using ALS method CRU- 31 (crushing to 70%
passing through a 2 mm screen), SPL- 21 (split sample - riffle
split), and PUL-31 (pulverize up to 250 g to 85% passing through
a 75-micron screen). A 0.2 g subsample of the pulverized material
was analyzed for 52 elements using a sodium peroxide fusion by
ICP-MS (ALS method ME -MS89L). Samples returning
>500ppm Li were also assayed using a 0.2 g subsample dissolved
in a sodium peroxide solution and analyzed for lithium according
to ALS method Li-ICP81. Lithium results are reported by the lab
as % Li and have been multiplied by 2.153 to convert to % Li2O.
Results passed QA/QC screening at ALS.
About North Arrow Minerals
North Arrow is a Canadian based exploration company focused on the identification and evaluation of lithium an d 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 evaluating spodumene pegmatites at its 100% owned
LDG, MacKay, and DeStaffany 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), 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.
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 estimation 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
Figure 3: MK1 pegmatite channel sample
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 dispute s, 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, tax 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 assurance that such statements will
prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers 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.