North Arrow Minerals Inc. (TSX-V: NAR) is pleased to report new lithium assays from the company’s 100% owned MacKay Lake Property, Northwest Territories, and that additional exploration work is underway.

Six of eight rock sawn channel samples from the MK1 spodumene pegmatite, discovered in June 2023, have returned Li₂O assay results of 1.16%, 1.34%, 1.87%, 1.90%, 1.93% and 2.30%. These samples were collected over 1m intervals in July 2023 and compliment the assays of prospecting grab samples that returned from 2.45% to 3.74% Li₂O as reported in North Arrow news release dated August 14, 2023.

Based on limited field mapping, MK1 is interpreted as a series of irregular sub-parallel pegmatite dykes ranging from 0.5 m to >10 m in width (see image below). Spodumene mineralization comprises up to 20% of the pegmatite exposures with crystals ranging from 2-4 cm in length. The pegmatites are intercalated with metasedimentary rocks over an estimated combined width of 150 m and an interpreted strike extent of over 400 m. Bedrock exposures are of relatively low relief with significant potential to extend the pegmatite along strike beneath overburden.

Ken Armstrong, President and CEO of North Arrow, commented “The MK1 pegmatite lies within the same prospective metasedimentary rocks as the SD spodumene pegmatites located on North Arrow’s LDG property approximately 20 km to the north and reported in North Arrow news release date September 18, 2023. Today’s channel sample results confirm the potential of MK1 to host a significant new lithium discovery, a concept we look forward to testing as part of a spring 2024 drill program. Beyond MK1, the MacKay property covers an additional 14 km length of this prospective metasedimentary corridor which is geologically very similar to the host rocks of the spodumene pegmatites being evaluated in the Yellowknife Pegmatite Province. We believe the opportunity for additional discoveries of spodumene pegmatites is significant and a field program is presently underway on both the MacKay and LDG properties, consisting of additional mapping, prospecting, sampling and ground geophysical surveys, ahead of drilling to be conducted in spring 2024.”

The MacKay property is located adjacent to the Lac de Gras winter road, and continued evaluation will benefit from use of the road as well as North Arrow’s existing land use permit and exploration camp on the LDG property.

Sample Collection, Laboratory Procedures and QA/QC

Samples were collected in the field from rock sawn channels, cut using a portable rock saw. Sampled material was collected at 1m intervals, chipped from between parallel incisions cut nominally 3-4 cm apart and 3-4 cm deep. Samples were collected into plastic polymer bags, sealed and transported to ALS Global, where sample preparation and analytical work was conducted. Samples were prepared using ALS method CRU-31 (crushing to 70% passing through a 2 mm screen), SPL-21 (split sample – riffle split), and PUL-31 (pulverize up to 250 g to 85% passing through a 75-micron screen). A 0.2 g subsample of the pulverized material was analyzed for 52 elements using a sodium peroxide fusion by ICP-MS (ALS method ME-MS89L). Samples returning >500ppm Li were also assayed using a 0.2 g subsample dissolved in a sodium peroxide solution and analyzed for lithium according to ALS method Li-ICP81. Lithium results are reported by the lab as % Li and have been multiplied by 2.153 to convert to % Li₂O. Results passed QA/QC screening at ALS.

About North Arrow Minerals

North Arrow is a Canadian based exploration company focused on the identification and evaluation of lithium and other exploration opportunities in Canada. North Arrow’s management, board of directors and advisors have significant successful experience in the global exploration and mining industry. North Arrow is evaluating spodumene pegmatites at its 100% owned LDG, MacKay, and DeStaffany Lithium Projects (NWT) and is also exploring for lithium in Nunavut at the Bathurst Inlet pegmatite field and continues work to identify additional lithium exploration opportunities in northern Canada. North Arrow also owns interests in the Naujaat (NU), Pikoo (SK), and Loki (NWT) Diamond Projects and maintains a 100% interest in the Hope Bay Oro Gold Project, located approximately 3 km north of Agnico Eagle’s Doris Gold Mine, Nunavut. North Arrow’s exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo. (NT/NU, ON), President and CEO of North Arrow and a Qualified Person under NI 43-101.  Mr. Armstrong has reviewed and approved the technical contents of this press release.

Spodumene pegmatite outcrop at MK1 (rock hammer for scale). (CNW Group/North Arrow Minerals Inc.)

MK1 area zoom out – surface showing of irregular, sub-parallel pegmatite dykes intercalated with metasedimentary rocks (CNW Group/North Arrow Minerals Inc.)