NEWS FINALLY HERE WE GO BACK OVER 50 CENTS...
Cdn Arrow grab samples 1.28% Ni at Glatz
2007-11-12 09:20 ET - News Release
Mr. Kim Tyler reports
CANADIAN ARROW REPORTS 1.28% NICKEL FROM GLATZ SURFACE GRAB SAMPLES
Canadian Arrow Mines Ltd. is releasing exploration results from properties in the Kenbridge area of Northwestern Ontario. Recent prospecting on the Glatz property, the Apex and the Nielson Gauthier occurrences (Denmark Lake property) has identified surface mineralization which has prompted the company to initiate line cutting and geophysical surveys.
Highlights of the surface grab sampling program include:
1.28 per cent nickel, 0.26 per cent copper, Glatz trench 3;
0.99 per cent Ni, 0.18 per cent Cu, Glatz trench 3;
0.39 per cent Ni, 4.06 per cent Cu, Glatz trench 4;
0.70 per cent Ni, 0.37 per cent Cu, Apex;
0.61 per cent Ni, 0.11 per cent Cu, Nielson Gauthier.
Glatz property
Seven of 12 trenches from historical exploration programs were located and sampled. The trenches are situated along 450 metres of the historical 700-metre-long trend. Sulphide mineralization has been identified in all trenches with assay results returning values up to 1.28 per cent Ni and 4.06 per cent Cu. Past exploration programs included geological mapping and geophysical surveys however diamond drilling was not reported. The company has initiated line cutting, with plans to follow up with geophysical surveys.
Apex occurrence
The Apex occurrence is located eight kilometres south of the Kenbridge deposit. Apex has a historical non-National Instrument 43-101-compliant resource estimate of 237,600 tons of 0.56 per cent Ni, 1.03 per cent Cu based on a limited amount of diamond drilling. Historical trenches and diamond drill casings associated with the deposit were relocated. Grab sample assay results returned 0.70 per cent Ni, 0.37 per cent Cu, 0.59 per cent Ni, 0.61 per cent Cu from a small surface exposure of the Apex occurrence. The zone is approximately 10 metres wide, has been traced for 200 metres in an east-west direction and remains open to the east. Historical drilling focused on a relatively small portion of the 1,500-metre-long magnetic anomaly with which the Apex occurrence is associated.
Nielsen Gauthier and Ross Creek showings
The Nielsen Gauthier showing is located 10 kilometres south of the Kenbridge deposit and consists of several trenches, a number of unexplained induced polarization anomalies and a historical drill hole that reportedly intersected 0.78 per cent Cu over 15 metres. A grab sample from the historical trench returned 0.61 per cent Ni, 0.11 per cent Cu. The mineralization is interpreted to be associated with the large underexplored Denmark Lake intrusion.
SIGNIFICANT ASSAY RESULTS
Sample No. Prospect %Ni %Cu %Co
14717 Glatz -- trench 1 0.59 0.33 0.04
14723 Glatz -- trench 3 0.66 0.17 0.07
14724 Glatz -- trench 3 1.00 0.18 0.08
14725 Glatz -- trench 3 1.28 0.26 0.11
14731 Glatz -- trench 4 0.39 4.06 0.02
14737 Glatz -- trench 5 0.39 0.19 0.02
14809 Apex 0.59 0.61 0.02
14810 Apex 0.70 0.37 0.02
14812 Apex 0.36 0.37 0.01
14842 Apex 0.34 1.79 0.02
14826 Nielson-Gauthier 0.61 0.12 0.03
14836 Ross Creek 0.26 0.45 0.01
14837 Ross Creek 0.20 0.46 0.01
Todd Keast, vice-president of exploration, commented: "We are very encouraged by these initial results from the regional exploration projects. The grab sample assay results, the general geological setting and overall extent of mineralization we're seeing on the Glatz, Apex and Neilson Gauthier occurrences is similar to the results we've seen at surface exposures on the Kenbridge nickel deposit. We've initiated ground geophysical surveys in order to more accurately identify targets which will be tested by diamond drilling during the upcoming winter exploration program. We will continue to acquire projects of this high calibre which fit with Arrow's strategy of building nickel sulphide resources in the vicinity of our flagship Kenbridge nickel deposit."
Analytical method
Samples are analyzed by ISO:17025-accredited Accurassay Laboratories in Thunder Bay, Ont. Samples analyzed for base metals (nickel, copper and cobalt) 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. Keast, PGeo, a qualified person as defined by National Instrument 43-101. The information in this release was prepared under the direction of Kim Tyler, PGeo, president of the company, a qualified person as defined by National Instrument 43-101.
It should be noted that a qualified person from Arrow has not done sufficient work to classify the historical estimate for the Apex property as current mineral resources and the issuer is not treating the historical estimate as current mineral resources. The historical estimate should not be relied upon.
We seek Safe Harbor.