| Canadian Arrow drills sulphide mineralization at Glatz nickel project 08:59 EST Thursday, November 19, 2009 | |
SUDBURY, ON, Nov. 19 /CNW/ - Canadian Arrow Mines Limited (CRO: TSX-V) (the "Company") is pleased to report it has intersected sulphide mineralization on its Glatz nickel copper project located 40 km south of Dryden Ontario and 70 km east of its flagship Kenbridge advanced nickel copper project.
Diamond drill hole GZ-09-02 intersected coarse blebby and finely disseminated sulphides from surface to the 90m interval. The mineralization is consistent with that displayed in trenches and outcrop exposures occurring at surface above the hole.
More significantly it also intercepted vein and stringer breccia sulphide bands over a 12m down-hole interval between 41.0m and 53.0m.
Initial examination of the core has identified encouraging widespread magmatic sulphide mineralization associated with breccia zones within a gabbro and pyroxenite intrusion. The geological model bears a resemblance to the Company's Kenbridge nickel-copper deposit.
The Kenbridge deposit is also characterized by near-surface, wide-spread disseminated nickel-copper sulphide mineralization suitable for open pit extraction that resolves at depth into narrower, high grade semi-massive lenses and disseminated mineralization suitable for underground extraction.
Kenbridge and Glatz are only two of the 23 recorded nickel-copper sulphide bearing occurrences hosted within the same 220km ring of volcanics and ultramafic intrusives located between Dryden and Kenora, Ontario.
To date two NQ size holes have been logged and sampled for a total of 416m. Core samples have been split and sent out for analyses at an accredited laboratory in accordance with NI 43-101 best practice guidelines. No estimation can be concluded at this time of the extent or true widths of the mineralization. Additional drilling has been allocated to follow up on the mineralization.
Hole GZ-09-02 was drilled on coordinates 26+00N at 45+35E, at an azimuth of 180 degrees and a dip 0f -60 degrees. Hole GZ-09-01 was drilled on coordinates 26+00N and 45+85E at an azimuth of 180 degrees and a dip of -60 degrees. The hole was drilled through the northern intrusive/volcanic contact. Although sulphide mineralization is weak, the presence of variable sulphide, potassic, chloritic and silica alteration are interpreted to be distal vector indicators of a regional mineralization package.
The Glatz Property is the first of six targets to be drilled on the Turtlepond Lake Group of projects. 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 and occur within a few kilometres either side of highway 502.
The exploration program is being carried out under the direction of The Company's Vice President of Exploration, Mr. Todd Keast P. Geo., a qualified person as defined by National Instrument 43-101. The information in this release was prepared under the direction of Mr. Kim Tyler, P. Geo., President of the Company, a qualified person as defined by National Instrument 43-101.
About Canadian Arrow Mines:
Canadian Arrow Mines Limited is focused on acquiring and developing nickel sulphide deposits near existing infrastructure. The Company's principal asset is the Kenbridge Project, a nickel-copper sulphide deposit containing over 44,000 tonnes of nickel in the measured & indicated classes, (Sedar, Aug. 19, 2008), as follows:
<< - Measured Resource: 3,546,000 tonnes grading 0.45% nickel, 0.24% copper, 0.015% cobalt. - Indicated Resource: 3,593,000 tonnes grading 0.79% nickel, 0.42% copper, 0.018% cobalt. >>
The deposit remains open in three directions, is equipped with a 620 m shaft and has never been mined.
<< * National Instrument 43-101: Mr. E. Puritch, P. Eng., Ms. Tracy Armstrong, P.Geo., and Antoine Yassa, P.Geo. of P&E Mining Consultants Inc. are the independent qualified persons for the Kenbridge resource estimates. >>
Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing, or other relevant issues.
Additional information relating to Canadian Arrow is available on SEDAR at www.sedar.com.
This press release may contain "forward-looking statements" within the meaning of the Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume, any obligation to update these forward-looking statements.
Neither 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.
For further information: visit the website at www.canadianarrowmines.ca, or contact Mr. Kim Tyler, President and Director, toll free, 1-877-262-6354
| © Copyright Canada Newswire |
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SUDBURY, ON, Nov. 9 /CNW/ - Canadian Arrow Mines Limited (CRO: TSX-V) (the "Company") announces it has begun diamond drilling the first of its high priority Turtlepond area nickel-copper projects located 40 km south of Dryden in northwestern Ontario. Over twelve first-pass holes are planned totaling 2,500 metres of drilling over six priority targets. 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 and occur within a few kilometres either side of highway 502.
The Glatz Property is the first of these targets to be drilled and will consist of four holes for an approximate total of 800 metres of NQ core. Mechanical trenching and ground geophysical surveys on the Glatz showing have delineated two parallel zones of mineralization which extend for 900 m and 700 m in length respectively. Widespread disseminated and blebby nickel-copper-iron sulphide mineralization has been exposed and channel sampled along both trends. Both anomalies are coincident with airborne geophysical anomalies and have not yet been drill tested. An 800m long VTEM anomaly is associated with the Glatz showing and eleven conductive targets have been identified. In 2007 Arrow investigated a series of historical trenches along this geophysical trend with grab sample assay results ranging between trace to 1.28% Ni, and trace to 4.56% Cu. More detail on the Glatz Property can be viewed on the company's website at:
http://www.canadianarrowmines.
The exploration program is being carried out under the direction of The Company's Vice President of Exploration, Todd Keast P. Geo., a qualified person as defined by National Instrument 43-101. The information in this release was prepared under the direction of Kim Tyler, P. Geo., President of the Company, a qualified person as defined by National Instrument 43-101.
Canadian Arrow provides clarification on previous option grant
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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
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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.
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