Canadian Arrow provides clarification on previous option grant
cnw
SUDBURY, ON, Oct. 23 /CNW/ - Canadian Arrow Mines Limited (the "Company") (CRO-TSX Venture) announced today that the exercise price of its previously disclosed grant of stock options (see press release dated October 6, 2009) has been amended from $0.05 per share to $0.10 per share in order to comply with the rules of the TSX Venture Exchange. All other terms of such options remain as disclosed in the October 6, 2009 press release.
Canadian Arrow prepares to drill nickel projects
cnw
SUDBURY, ON, Oct. 5 /CNW/ - Canadian Arrow Mines Limited (CRO: TSX-V) (the "Company") having recently completed a $1.83M financing is pleased to provide an update on the exploration programs planned on its nickel-copper properties located in northwestern Ontario.
"Over $1.5M is to be expended on resumption of our exploration activities," comments Company President Kim Tyler. "First pass drilling programs are prepared to evaluate the six highest priority targets on our regional projects in addition to drilling proposed on the open extensions of our flag-ship Kenbridge nickel/copper deposit."
The initial focus will be on the Turtlepond Lake group of projects located about 40 km south of Dryden, Ontario and 70 km east of Kenbridge. The Turtlepond Lake Group consists of three previously under-explored historic nickel-copper occurrences, (Glatz, Emmons and Prigg), coincident with recently surveyed electromagnetic conductor/magnetic anomalies, and three other newly discovered geophysical targets, North Glatz, Night Danger, and Double E. All targets are clustered within 1.5 km of each other. A map detailing the Turtlepond projects can be viewed on the Company's website at:
http://www.canadianarrowmines.
- The drill program which comprised our 253 million dollar property is open at depth and further drilling could significantly increase the resource. Some of our strongest results were on outer edges of the drill zone. De-watering of the 2500 meter mine shaft will allow them to get at these areas. The intersection I speak of is the 7% nickel over 5 meters that intersection comes from the end of the drill core. Further exploration could offer up amazing results. 0 summer 2008 drill results out, any significant finds in mine ready atikocan or kenora/dryden properties will lift stock.
- The company has contractual agreements with Opiwica explorations (OPW) on the TSX.V to mill there major gold and copper find with in close proximity of Canadian Arrows Planned site. Mining could begin on both projects in early 2010. This represents earnings and is a good partnership for a company seeking to be the next significant Nickel Copper producer in Canada.
- Canadian Arrow has the ability to produce nickel in its mine at 3.47 per pound nickel. That kind of number is unheard of in comparison to other mines. With production scheduled for early 2010 (around the same time our economy should be significantly rebounding) what if nickel prices return back to 15 dollars per pound? This site will look like a gem to any investor! (plus the property would be worth about 400mil at 15 dollars per pound nickel.
This is just a few of the key points that I believe make this company look attractive. If my predictions are correct we will see a significant rebound to normal multiples over the course of the next couple of months and with any significant news pertaining to my points and our sp and volume will be sent soaring. JV with cash on the books and abilitiy to help put project into production will send our sp back to .50 if not higher! I am Bull on Canadian Arrow mines.