VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 14, 2011) - Arctic Star Exploration Corp. (TSX VENTURE:ADD) (the "Company" or "Arctic Star") is pleased to announce that Aeroquest International Ltd. has completed airborne magnetic and radiometric surveys on three properties located in the Carbo area of 'The Rocky Mountain Rare Metal Belt' of northern British Columbia.
The Cap, Seebach and Javorsky rare earth element ("REE") and rare metal properties are all located within the immediate vicinity of Spectrum Mining Corporation's Wicheeda REE Discovery as well as the Carbo Project which has been drilled by Canadian International Minerals Inc. (TSX VENTURE:CIN). Arctic Star is conducting exploration under its option to earn up to 100% interest in these properties. The group of claims are located 80 km northeast of Prince George and together comprises 20 mineral claims covering approximately 9,129 hectares, making it one of the largest land positions in the camp.
The heli-borne AeroMAG magnetic gradient and radiometric survey consisted of approximately 1,500 line kilometres on the three properties. The preliminary results of the survey have identified several radiometric anomalies on the Cap property, which are considered to be high priority with respect to the other surveyed properties in the Carbo area. The magnetic component of the survey further defined the strong magnetic anomaly as previously defined by the regional magnetic survey.
The preliminary results of the airborne survey, in combination with the 2010 prospecting program which located outcrops of syenite with anomalous values of Nb and Zr (see November 17th News Release) are very encouraging. In the Carbo area, syenite is often found in close proximity to REE bearing carbonatite.
A detailed mapping and prospecting program, in combination with soil sampling has commenced on the Cap Property in order to verify the geophysical anomalies and define drill targets.
Publicly available records show that the nearby Wicheeda REE Discovery owned by Spectrum Mining showed encouraging results for REE in 2008 and 2009 drilling.
Neil G McCallum, P.Geo., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
On behalf of the board of directors of ARCTIC STAR EXPLORATION CORP.
Patrick Power, President and Chief Executive Officer
Forward Looking Statements
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events such as: the likelihood that the property has rare earth and that we will continue a work program on the properties. Forward-looking information include statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Arctic such as our ability to raise financing, geological information resulting in changed plans for exploration, our ability to contract equipment and labour, current economic conditions and the state of mineral exploration and mineral prices in general .Discoveries of minerals on other properties are not necessarily an indication of any commercial mineralization on nearby properties. These risks and uncertainties could cause actual results and Arctic's plans and objectives to differ materially from those expressed in the forward-looking information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by law, Arctic assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.