Arrow Minerals (ASX:AMD) confirms ‘high-grade’ iron greater than 64% has been reported in analytical results from 9 rock chip samples collected at the Simandou North Iron Project in Guinea.
A total of 110 rock chip samples were collected as part of Arrow’s first pass geological mapping and geochemical sampling program. This exploration program specifically targeted zones of outcropping iron formations that extend over more than 40km.
In addition to the 9 samples returning greater than 64% iron (Fe), Arrow Minerals reports 21 ‘significant’ analytical results reported by ALS Global from 110 rock chip samples submitted for analysis uncovered iron assays of greater than 58%.
Commenting on the results, Arrow Minerals Managing Director Hugh Bresser says: “I am delighted by these results. They confirm the iron formation at our Simandou North Iron Project hosts the high-grade iron we are targeting
“It also provides evidence of iron grades equivalent to those on the Winning and Rio projects to the south”
It also provides evidence of iron grades equivalent to those on the Winning and Rio projects to the south. We are progressing rapidly to our first drill program with ongoing support from the local communities and Government of Guinea.”
Arrow reports that work is now underway to better define the distribution of the surface ‘high-grade’ mineralisation, prior to the commencement of its maiden drilling program which will test the depth and extent of the ‘high-grade’ iron zones within the target areas.
The company expects to begin this drilling program at the project in April. The program will contribute towards Arrow earning a 60.5% controlling interest in the project.
Details of the drilling program as well as the commencement of drilling will be announced in due course.
The Simandou North Iron project consists of an exploration permit (22967), situated at the northern end of the Simandou Range that hosts one of the largest undeveloped ‘high-grade’ iron deposits in the world.
Arrow Minerals is an exploration and development company, discovering economic mineral deposits in West Africa. The company’s Simandou North Iron Project is an early-stage opportunity that provides Arrow with access to the ‘premium’ iron belt in West Africa at a time when ‘significant’ infrastructural improvements are underway.
Images: Arrow Minerals Ltd
