North Arrow Minerals Inc. (TSXV: NAR) has settled an agreement with Arctic Canadian Diamond Company under which the Lac de Gras joint venture has been terminated, and the company has acquired Arctic’s joint venture interest in the Lac de Gras Property, Northwest Territories (NWT).
As a result, North Arrow holds a 100% interest in the Lac de Gras property, including responsibility for the fully permitted exploration camp on the property.
In the near-term, North Arrow intends to evaluate the lithium potential of the property, particularly in the area of two spodumene pegmatite showings noted by Geological Survey of Canada mappers in the 1940’s.
Additionally, the company has agreed to purchase exploration data related to historic lithium exploration in the NWT.
North Arrow has agreed to pay the arm’s length vendor 200,000 common shares of North Arrow at a deemed value of C$0.065 per share.
To find out more, please visit www.northarrowminerals.com
