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Arctic Star Exploration names Power as new president and CEO

Published: 10:37 24 Oct 2018 EDT

A diamond in the coal
Arctic Star owns 100% of its recently acquired Timantti diamond project

Arctic Star Exploration Corp (CVE:ADD, OTCQB:ASDZF) told investors that its executive chairman and director Patrick Power had become the group's new chief executive and president.

Scott Eldridge has resigned but will remain with Arctic Star as a director, the firm added.

Under the new corporate structure, which will come into effect immediately,  Power will assume all operational duties.

Power is a seasoned venture capitalist and financier with more than 20 years' experience as a stock market professional and director of public companies.

The company will benefit from Power's wealth of experience as a "savvy deal maker, an adept financier and as a results-driven leader of dynamic public companies", the firm said.

He also has a large network of contacts within the industry.

Arctic owns 100% of its recently acquired Timantti diamond project, including a 243-hectare exploration permit and a 193,700-hectare exploration reservation near the town of Kuusamo, in Finland.

Earlier this month, the company released results from drill testing its Black and Grey Wolf kimberlites at the Timantti diamond project near Kuusamo, Finland.

Arctic Star completed first pass exploration and delineation drilling on the project in March this year and identified four separate kimberlites.

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