North Arrow Minerals Ltd. July 13 announced the start of the 2023 field program for its recently fully acquired Lac de Gras kimberlite property in Northwest Territories, Canada – while primarily a diamond project, the company plans to explore a lead for possible lithium-bearing spodumene pegmatites initially reported by Geological Survey of Canada mappers in the 1940s.

After obtaining 100% interest in Lac de Gras from previous joint venture partner Arctic Canadian Diamond Company at the end of June, North Arrow wasted no time setting out for minerals. However, even with it being nestled between two of the world's richest diamond mines: Diavik and Ekati, the company has hopes for a more in-demand resource – lithium.

Located within the Lac de Gras kimberlite field, the namesake project consists of 149,621 hectares (369,722 acres) of highly prospective diamondiferous kimberlites.

Once conducted under a joint venture with Arctic Canadian Diamond Company, the 21% interest North Arrow held now sits at 100%.

While work has outlined two significant kimberlite targets – Big Blue and Anchor – the most recent exploration program is on the hunt for a series of spodumene pegmatites that were initially reported by GSC mappers in the 1940s with follow-up work by Geolex Exploration in the 1950s.

"This program represents an important, low-cost initiative by North Arrow to add to our growing portfolio of hard rock lithium projects in Canada's north," said North Arrow President and CEO Ken Armstrong. "The area of interest lies within our 100% owned LDG project, between MacKay Lake and Lac de Gras, immediately along the current alignment of the winter road that services the Diavik and Ekati mines."

Geolex reportedly identified a series of spodumene pegmatites in the area, including one occurrence described as approximately 600 meters in length and up to 30 meters wide, while a second occurrence was detailed as roughly 1,000 meters long and averaged 15 meters in width.

North Arrow Minerals Ltd.

"The current program is intended to prospect, map and sample identified pegmatites in the area of interest, making use of existing lidar, geophysics, and satellite imagery data," said Armstrong. "If confirmed, the logistics of evaluating these spodumene pegmatites will be greatly aided by their location along the Lac de Gras winter road and by the fact the LDG project has an exploration camp and drilling permit in place."

With recent exploration expanding its DeStaffany lithium project on the shore of Great Slave Lake, and the March acquisition of the Bathurst Inlet lithium property along Nunavut's coast, North Arrow is setting itself up to become a major contributor for a critical mineral necessary for a zero-carbon future.