Canadian Arrow Mines releases Atikokan drill results
08:30 EST Wednesday, November 12, 2008
SUDBURY, ON, Nov. 12 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the "Company"), reports nickel, copper, and platinum group metal (PGM) assay results from the recently completed drilling program on the Eva Lake and Kawene Projects within its Atikokan group of projects. Sixteen holes, (2,354 metres), were completed on historical showings and untested airborne anomalies to examine near surface targets.
Highlights of the drilling included a newly discovered zone of anomalous copper - PGM mineralization in holes KW-08-03, (12.2m of 0.63 gm/t PGM's), and KB-08-05, (11.7m of 0.97 gm/t PGM's. The holes are located on adjacent 50 metre spaced sections representing a new zone of near surface mineralization.
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Mr. Todd Keast, Vice President of Exploration comments, "These anomalous drill results confirm the potential for economic mineralization in the Eva Lake-Kawene vicinity. The Company has completed the Atikokan projects phase and will be reviewing its strategy for this portion of its regional exploration program. It is currently directing its next phase of exploration on the Turtlepond Lake group of projects."
Analytical Method
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Mineralized diamond drill hole intervals reported are down hole core lengths only. NQ diameter drill core samples are split in half; one half being retained in its original core box and the second half sent to an independent commercial laboratory for analysis. Samples are analyzed by ISO 17025 accredited Accurassay Laboratories in Thunder Bay, Ontario. Samples analyzed for base metals (nickel, copper, and cobalt), and precious metals, (platinum, palladium and gold), are digested using aqua regia with an atomic absorption finish.
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.
Investors are invited to visit Canadian Arrow's IR hub at http://www.agoracom/IR/CanadianArrow where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternately, investors are able to e-mail all questions and correspondence to CRO@agoracom.com where they can also request addition to the investor e-mail list to receive future press releases and updates in real time.
08:30 EST Wednesday, November 12, 2008
SUDBURY, ON, Nov. 12 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the "Company"), reports nickel, copper, and platinum group metal (PGM) assay results from the recently completed drilling program on the Eva Lake and Kawene Projects within its Atikokan group of projects. Sixteen holes, (2,354 metres), were completed on historical showings and untested airborne anomalies to examine near surface targets.
Highlights of the drilling included a newly discovered zone of anomalous copper - PGM mineralization in holes KW-08-03, (12.2m of 0.63 gm/t PGM's), and KB-08-05, (11.7m of 0.97 gm/t PGM's. The holes are located on adjacent 50 metre spaced sections representing a new zone of near surface mineralization.
<<>>
Mr. Todd Keast, Vice President of Exploration comments, "These anomalous drill results confirm the potential for economic mineralization in the Eva Lake-Kawene vicinity. The Company has completed the Atikokan projects phase and will be reviewing its strategy for this portion of its regional exploration program. It is currently directing its next phase of exploration on the Turtlepond Lake group of projects."
Analytical Method
-----------------
Mineralized diamond drill hole intervals reported are down hole core lengths only. NQ diameter drill core samples are split in half; one half being retained in its original core box and the second half sent to an independent commercial laboratory for analysis. Samples are analyzed by ISO 17025 accredited Accurassay Laboratories in Thunder Bay, Ontario. Samples analyzed for base metals (nickel, copper, and cobalt), and precious metals, (platinum, palladium and gold), are digested using aqua regia with an atomic absorption finish.
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.
Investors are invited to visit Canadian Arrow's IR hub at http://www.agoracom/IR/CanadianArrow where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternately, investors are able to e-mail all questions and correspondence to CRO@agoracom.com where they can also request addition to the investor e-mail list to receive future press releases and updates in real time.
From The Agoracom website"
I personally like the results from EL-08-06 28.7 meters grading 0.22 Nickel, 0.58 copper, 0.17 PT, 0.21 PD, 0.19 Gold and 0.57 Platinum.
For those that don't know copper mining is profitable at roughly .30 g/t occurance over an entire mine. These drill results are very positive based on the shallow depth of intrusion, hopefully targets are still open at depth, that information is months or years away. However, I am glad we are moving on to focus more on the Turtlepond lake occurance which I believe we will see more significant results for the wellbeing of the company from that potential deposit than in the Atikokan.
I think this company is one of the few leaders in this field. They will survive and we will prosper for it. I was only starting to get my feet wet during the mining and metal spike of 05 and 06. Had Canadian Arrow made there discoveries in that time I believe we would easily be a 3 figure stock. When precious and base metal market recover this stock should fuel its way to the top very quickly.
Also another couple of good reasons this company is a great by are there major holders.
Sprott Investments is a 2.8 million share holder (4% of the company)
Canada Pension plan owns roughly 3 million shares (4.1% of the company)
So when I put the information together I see one of the most successful Metals money managers in the world as a top holder and I also see our own Government in on this company. Also our front office are stars in the mining industry and are well credited in there field with decades of experience.
At just a couple hundred bucks a week for the next few months a normal person could become a millionaire off of a company like this. It is not getting hard to accumulate more than 500,000 shares. At todays price barely a 30k investment. I bet most of you buy a 30k car that will be nearly worthless in 4-6 years. So how come you wont drop 30k on an investment that could either be worthless or could make you a millionaire in the same amount of time? I know were my monies going... Source
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