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Arctic Star Exploration Corp.
Summary
| Project: | Foriet | |
|---|---|---|
| Deposit: | Foriet | |
| Location: | Finland | |
| Commodities: | Diamonds | |
| Date: | 10/16/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 16-10-2017: Arctic Star Exploration Corp. announces a Supporting Acquisition report for its Foriet deposit at the Foriet project. Amended technical report on property in support of acquisition. The Foriet Property consists of Ore Prospecting Permit ML2011 | |
| 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 (or “Exploration Permit”) ML2011:0078-01, which is about 243 hectares in size. Exploration Permit ML2011:0078-01 is also known as the Foriet Property. Foriet Oy has also been granted Kuusamo North Reservation VA2017:0055 (920.66 km2), with expiry date June 28, 2019. If the reservation is not appealed, then Foriet Oy may apply for an Ore Prospecting Permit which will enlarge the exploration property considerably. The Foriet Property occurs on the Karelian Craton is a large geological domain that hosts several diamond-bearing kimberlite clusters. Ancient kimberlites occupy the inner part of the Karelian Craton, and younger kimberlites occupy craton boundaries or off-craton settings. | |
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