North Arrow expects processing of the pattern to start within the fourth quarter.
“Bulk pattern assortment from the Q1-4 kimberlite is now full, with subject crews having delivered 2,500 bulk pattern baggage of kimberlite to our laydown close to the neighborhood of Naujaat,” mentioned Ken Armstrong, president and CEO of North Arrow. “At roughly 2,000 tonnes, the two,500 baggage symbolize the excessive finish of our anticipated tonnage vary for this system and we look ahead to loading the pattern onto the annual Naujaat sealift in September for cargo to the processing laboratory.”
The C$5.6 million bulk pattern program is funded by Burgundy Diamond Mines (ASX: BDM).
Whereas North Arrow has made a number of diamond discoveries in Canada over the previous decade, together with the Pikoo discovery in Saskatchewan, it has been tough to boost funds for exploration.
Final yr, the junior signed an choice settlement with Burgundy (then often known as EHR Sources). In return for funding the majority pattern, Burgundy will earn a 40% curiosity in Naujaat. If the outcomes are constructive, the corporate can earn one other 20% curiosity by funding a bigger, 10,000-tonne bulk pattern.
(This text first appeared in The Northern Miner)