|By Marketwired .||
|August 18, 2014 08:30 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/18/14 -- North Arrow Minerals Inc. (TSX VENTURE: NAR) ("North Arrow") is pleased to report it has completed the sample collection phase of the bulk sampling program at the Qilalugaq Diamond Project located near the hamlet of Repulse Bay (Naujaat), Nunavut. The intent of the program is to recover a diamond parcel of approximately 500 carats for the purpose of determining an initial value estimate for the diamonds in the Q1-4 kimberlite. North Arrow is funding the bulk sampling program as part of an option agreement with Stornoway Diamond Corporation (TSX: SWY) ("Stornoway").
A total of 1,688 megabags of kimberlite have been collected from the 12.5 hectare Q1-4 kimberlite, and transported approximately nine kilometres to the company's sample laydown site in Repulse Bay. The final field sample weight is being determined but will exceed the targeted 1,500 tonnes. The sample was collected from two surface trenches which are currently undergoing final mapping and data collection prior to reclamation. The sample will be shipped south on the annual sealift scheduled to arrive in Repulse Bay on August 25th and sample processing is expected to commence in early October. The sample will be processed for the recovery of commercial sized (+0.85 mm) diamonds and the resulting diamond parcel will be used to better determine diamond content, size distribution, diamond parcel value and to establish whether or not fancy yellow diamonds persist into the larger diamond sizes.
North Arrow is currently working to earn an 80% interest in the Qilalugaq Diamond Project by completing an option work program consisting of the collection of a minimum 1,000 tonne sample from the Q1-4 kimberlite. If North Arrow completes the option work program and provides notice to Stornoway of its intent to vest an 80% interest in the project, Stornoway has a one-time right (the "Back-in Right") to buy-back a 20% interest in the project by paying to North Arrow an amount equal to three times the costs incurred in connection with the option work program (please see North Arrow news release dated April 29th, 2013 for additional details on the option agreement with Stornoway).
Redemption Project Update
North Arrow also reports it has completed an exploration drilling program at the Redemption Diamond Project in the Northwest Territories. The property is located in the Lac de Gras region, approximately 32 km southwest of, and 47 km west of the Ekati and Diavik Diamond Mines, respectively.
A total of 799.8 m of drilling tested seven targets located in the central part of the property near the up-ice termination of the South Coppermine kimberlite indicator mineral (KIM) train. The targets included various combinations of gravity, magnetic and electromagnetic geophysical responses that were identified based on results of a detailed data compilation and new airborne and ground geophysical surveys. None of the drill holes definitively encountered a bedrock kimberlite source for the South Coppermine KIM train. Drill hole 14-RED23-08 (Az. 180 degrees; dip -60 degrees) tested a linear gravity low and encountered predominantly fresh to weakly altered granite that included a moderately to strongly fractured fault zone from 89.9 m to 99.7 m downhole. This fault zone contained intervals of dull green clay gouge which have been collected for kimberlite indicator mineral analyses.
The property hosts a number of lake based geophysical targets that could not be tested as part of the current drilling program. The Company will also continue to evaluate the comprehensive project exploration database, including information on surficial geology and an evaluation of the geophysical data sets for the identification of more subtle, and perhaps linear structural kimberlite targets.
North Arrow is exploring the Redemption property under an option agreement with Arctic Star Exploration Corp. (TSX VENTURE: ADD), under which the Company can earn a 55% interest by incurring $5 million in exploration expenditures prior to July 1, 2017.
About North Arrow Minerals
North Arrow is a Canadian based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada. North Arrow's management, board of directors and advisors have significant successful experience in the Canadian diamond industry. In addition to the Qilalugaq and Redemption projects, North Arrow is also evaluating each of the Pikoo (SK), Lac de Gras (NWT), Mel (NU), Luxx (NU) and Timiskaming (ON/QC) Diamond Projects.
Kenneth Armstrong, P.Geo. (ON), President and CEO of North Arrow and a Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
North Arrow Minerals Inc.
Kenneth Armstrong, President and CEO
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 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, 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.
Tel: 604-668-8355 or 604-668-8354
Companies today struggle to manage the types and volume of data their customers and employees generate and use every day. With billions of requests daily, operational consistency can be elusive. In his session at Big Data Expo, Dave McCrory, CTO at Basho Technologies, will explore how a distributed systems solution, such as NoSQL, can give organizations the consistency and availability necessary to succeed with on-demand data, offering high availability at massive scale.
Jan. 26, 2015 03:00 AM EST Reads: 1,423
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your o...
Jan. 26, 2015 02:00 AM EST Reads: 2,710
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
Jan. 26, 2015 02:00 AM EST Reads: 2,373
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial C...
Jan. 26, 2015 01:00 AM EST Reads: 2,521
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by minin...
Jan. 26, 2015 12:45 AM EST Reads: 3,461
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 26, 2015 12:00 AM EST Reads: 2,144
"SOASTA built the concept of cloud testing in 2008. It's grown from rather meager beginnings to where now we are provisioning hundreds of thousands of servers on a daily basis on behalf of customers around the world to test their applications," explained Tom Lounibos, CEO of SOASTA, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 26, 2015 12:00 AM EST Reads: 2,196
SYS-CON Events announced today that ActiveState, the leading independent Cloud Foundry and Docker-based PaaS provider, has been named “Silver Sponsor” of SYS-CON's DevOps Summit New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. ActiveState believes that enterprises gain a competitive advantage when they are able to quickly create, deploy and efficiently manage software solutions that immediately create business value, but they face many challenges that ...
Jan. 25, 2015 11:45 PM EST Reads: 1,783
“This win means a great deal to us because it is decided by the readers – the people who understand how use of our technology enables new insights that drive the business,” said Matt Davies, senior director, EMEA marketing, Splunk. “Splunk Enterprise enables organizations to improve service levels, reduce operations costs, mitigate security risks, enhance DevOps collaboration, create new product and service offerings and obtain deeper insight into customer behavior. Being named Best Business App...
Jan. 25, 2015 10:30 PM EST Reads: 1,775
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, ...
Jan. 25, 2015 07:45 PM EST Reads: 2,326
SYS-CON Media announced that Cisco, a worldwide leader in IT that helps companies seize the opportunities of tomorrow, has launched a new ad campaign in Cloud Computing Journal. The ad campaign, a webcast titled 'Is Your Data Center Ready for the Application Economy?', focuses on the latest data center networking technologies, including SDN or ACI, and how customers are using SDN and ACI in their organizations to achieve business agility. The Cisco webcast is available on-demand.
Jan. 25, 2015 07:00 PM EST Reads: 1,248
Datapipe has acquired GoGrid, a provider of multi-cloud solutions for Big Data deployments. GoGrid’s proprietary orchestration and automation technologies provide 1-Button deployment for Big Data solutions that speed creation and results of new cloud projects. “GoGrid has made it easy for companies to stand up Big Data solutions quickly,” said Robb Allen, CEO, Datapipe. “Datapipe customers will achieve significant value from the speed at which we can now create new Big Data projects in the clou...
Jan. 25, 2015 06:30 PM EST Reads: 1,585
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what th...
Jan. 25, 2015 06:15 PM EST Reads: 3,806
The Internet of Things (IoT) is rapidly in the process of breaking from its heretofore relatively obscure enterprise applications (such as plant floor control and supply chain management) and going mainstream into the consumer space. More and more creative folks are interconnecting everyday products such as household items, mobile devices, appliances and cars, and unleashing new and imaginative scenarios. We are seeing a lot of excitement around applications in home automation, personal fitness,...
Jan. 25, 2015 06:00 PM EST Reads: 2,735
Security can create serious friction for DevOps processes. We've come up with an approach to alleviate the friction and provide security value to DevOps teams. In her session at DevOps Summit, Shannon Lietz, Senior Manager of DevSecOps at Intuit, will discuss how DevSecOps got started and how it has evolved. Shannon Lietz has over two decades of experience pursuing next generation security solutions. She is currently the DevSecOps Leader for Intuit where she is responsible for setting and driv...
Jan. 25, 2015 06:00 PM EST Reads: 1,422