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Arctic Star Exploration Corp.
Summary
| Project: | Foriet | |
|---|---|---|
| Deposit: | Foriet | |
| Location: | Finland | |
| Commodities: | Diamonds | |
| Date: | 7/12/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-7-2017: Arctic Star Exploration Corp. announces a Supporting Acquisition report for its Foriet deposit at the Foriet project. Summary of property in support of acquisition. The Foriet Property consists of Ore Prospecting Permit ML2011:0078-01, located | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Kevin Robert Kivi (Kivi Geoscience Inc.) | |
| ABSTRACT: | The Foriet Property consists of Ore Prospecting Permit ML2011:0078-01, located in Northern Ostrobothnia, Finland approximately 17 km NNE of Kuusamo, Finland, 24 km west of the Russian Federation border. Arctic Star Exploration Corp has executed a Share Purchase Agreement with Dragon Diamond Ventures Limited (Dragon) to acquire the Finnish company Foriet Oy, which holds 100% interest in Ore Prospecting Permit ML2011:0078-01, which is about 243 hectares in size. Ore Prospecting Permit ML2011:0078-01 is also known as the Foriet Property. The Foriet Property occupies part of the Archean Kuusamo volcano-sedimentary belt that consists of a basal conglomerate and overlying stratigraphy that includes several volcanic formations with intercalated and overlying metasedimentary units. Two kimberlites are known on the Property: Black Wolf and White Wolf, which are located 50m from each other and are hosted by metasedimentary and metavolcanic Archean rocks. These kimberlites are initial discoveries of the North Kuusamo Kimberlite Cluster, with emplacement age 760 Ma. The Wolf kimberlites contain diamonds and have been core drilled and mini-bulk sampled in past. A small sample of 8.7 tonnes of near-surface kimberlitic rock returned 1.25 carats of +1mm diamonds. The largest stone recovered was 0.09 carats. | |
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