Explorer and developer Arrow Minerals (ASX:AMD) has defined new ‘high-grade’ anomalies from an ongoing geochemical and mapping program at the Kalako target within its Simandou North Iron Project in Guinea, West Africa.
The company says these 2 new ‘high-grade’ iron target areas were uncovered from rock chips collected at the Kalako Target area and have returned iron (Fe) grades of up to 58% at surface, with the highest analytical result of 64.15% Fe.
Arrow Minerals reports these results warranted the start of additional geological mapping, which is being undertaken to define the best zones and prepare them for diamond drill testing.
The company notes these results have been returned in conjunction with an ongoing scout diamond drilling program being conducted across the Dalabatini, Kowouleni, Diassa, and Kalako targets.
Drilling thus far has been centred around both the Dalabatini and Kowouleni targets, where 5 and 8 holes have been completed, respectively.
Arrow also notes current drilling has been designed to provide shallow geological and geochemical information to facilitate subsurface understanding and allow the targeting of ‘high-grade’ haematite mineralisation.
Initial analytical results are expected to be received shortly.
Arrow Minerals’ share price increased by 33.333% to close at $0.004 on Thursday afternoon.
Speaking on the sampling results, Arrow Minerals Managing Director Hugh Bresser says: “The Simandou North Iron Project continues to deliver results that highlight the huge potential of the area to deliver high-grade iron. With our scout drilling program well underway, I look forward to being able to share the first round of analytical results from the completed drillholes shortly.”
“The Simandou North Iron Project continues to deliver results that highlight the huge potential of the area to deliver high-grade iron”
Arrow Minerals is an ASX-listed explorer and developer focused on the discovery of ‘high-grade’ iron deposits in the Simandou Range in Guinea, West Africa.
The company’s Simandou North Project represents an ‘exceptional’ early-stage opportunity that provides Arrow access to the premium iron belt in West Africa at a time when ‘significant’ infrastructural improvements are underway.
Write to Adam Drought at Mining.com.au
Images: Arrow Minerals Ltd