Arrow Minerals Ltd (ASX:AMD) Strong Start To Drilling At Simandou North
Date
2/29/2024 11:25:12 PM
(MENAFN- ABN Newswire)
Arrow Minerals Limited (ASX:AMD) is pleased and particularly encouraged to advise it has intersected hematite mineralisation in the oxidised profile of all of its first 4 holes drilled at its Simandou North Iron Project, along strike from the world's largest high grade iron ore project being jointly developed by Rio Tinto and Winning Consortium at the Simandou Iron Ore Project in Guinea, West Africa.
Arrow Minerals has previously reported it has identified approximately 40 kilometres of strike potential of the prospective ore host, the Simandou Banded Iron Formation on its tenure. The first 4 holes completed represent less than 1% of the total target along strike, being on a single drill section at the Dalabatini target.
Managing Director David Flanagan commented, "It is extremely promising to be able to visually identify so much hematite mineralisation in our first four holes. Given there is 40 kilometres strike of targets yet to drill we are confident we will have many quality prospects. Of particular interest are the intercepts in DALDDH006 that feature what appears to be hydrothermal iron mineralisation. This is regionally important in producing high grade iron ore deposits to our south at the giant Simandou Iron Project.
Receiving such excellent geological indications in such a short period of time provides valuable information to assist in developing our exploration model and follow up drill holes. We eagerly await first assay results which are due early in the June quarter."
Cautionary Statement: The Company is highly encouraged by the geology identified in all 4 holes completed to date in 2024, but notes that chemical analyses are yet to be completed by independent assay laboratory, ALS Global. The presence of hematite identified by geological logging of drill core does not imply iron mineralisation that is of potential economic significance until it is confirmed by chemical assay. Widths reported are downhole, and no estimates of true width are given at this stage.
There has been insufficient exploration work completed to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
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