North Arrow Reports Assays from Spodumene Pegmatites at the LDG Lithium Project, NWT

18 September 2023

Exploration Fieldwork Underway

(September 18, 2023) North Arrow Minerals Inc. (TSXV-NAR) (“North Arrow”) is pleased to report initial lithium assays from spodumene pegmatites discovered in July at the company’s 100% owned LDG Property, Northwest Territories, and that mobilization is underway for a fall exploration program at the property. Highlights of today’s news include:

  • Five of seven representative grab samples from the SD4 spodumene pegmatite have returned from 1.10% Li2O to 2.17% Li2O.
  • Seven of eight rock sawn channel samples from the SD2 spodumene pegmatite have returned from 0.40% Li2O to 1.70% Li2O.
  • Based on mapping of low-relief outcrop exposures, SD2 and SD4 are interpreted as steeply dipping (75-80 degrees) feldspar-quartz-muscovite-spodumene pegmatites, estimated at 10-20 m wide and over 400 m in strike length. The pegmatites are located approximately 2 km apart and remain open below overburden along strike.
  • Spodumene is coarse grained and locally abundant in both pegmatites, reaching 15-20% in some outcrops.
  • Follow up exploration field work is underway with planned work to include mapping, prospecting and ground magnetic surveys as well as spotting initial proposed drill holes ahead of a spring 2024 exploration drill program.

Ken Armstrong, President and CEO of North Arrow commented “We are pleased to confirm significant lithium assays from the SD2 and SD4 spodumene pegmatites discovered this summer at North Arrow’s LDG lithium property. Unfortunately, plans for drilling the property in September were suspended as a result of the wildfires impacting residents of the NWT. However, with thanks to the tremendous work of fire fighters, numerous volunteers and governments, NWT residents are safely returning to their communities, and we are able to renew field work focused on understanding the size potential of these pegmatites, as well as prospecting for new discoveries within this highly prospective area.”

The LDG property covers an 18 km corridor of underexplored metasedimentary rocks located adjacent to a fertile, two-mica granite, very similar in age and setting to the host rocks of the spodumene pegmatites of the Yellowknife Pegmatite Province. At LDG, less than seven kilometres of this prospective trend have been prospected to date and, in addition to SD2 and SD4, at least five other pegmatites, up to 50 m wide, have been identified and require further mapping and sampling to understand their potential to host significant lithium mineralization. Located within 5 km of the winter road infrastructure connecting Yellowknife with the Lac de Gras region, the size potential and lithium mineralization of the SD2 and SD4 pegmatites highlight the potential of the LDG property to host a significant spodumene lithium discovery on par with the Yellowknife Pegmatite Province. Current field work is expected to include prospecting for additional spodumene pegmatites, bedrock mapping, rock and soil sampling and ground magnetic surveys.