CRO news !!! OPW area play !!NEWS RELEASE PAGE
Headline: Exploration Program Commences Adjacent to Atikwa Au-Cu Discovery
Symbol: CRO
SUDBURY, ON, Feb. 22 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the \"Company\") reports that exploration programs are underway at several locations on the companies Denmark Lake property, which are situated adjacent to Opawica Resources Ltd. recently announced (Feb 21, 2008) Atikwa Au-Cu discovery. Opawica reported 0.87% Cu and 4.08 g/t Au over a core length of 46 metres. The Atikwa Au-Cu discovery and Kenbridge deposits are situated 7 km apart along a prominent NE/SW structure (Map 1: https://files.newswire.ca/614/Arrow.pdf\">https://files.newswire.ca/614/Arrow.pdf).
Arrow's exploration on the Denmark Lake property includes mechanical stripping, linecutting, and geophysical surveys. Diamond drilling is currently underway at one occurrence (historical intersection of 0.78% Ni and 0.78% Cu / 15m) located 3.75km south of the Atikwa discovery. Drilling will eventually test the Apex Ni-Cu occurrence which hosts an historical resource* of 237,600 tonnes of 1.03% Cu, 0.56% Ni (OGS - OFR 6127, 2004).
Todd Keast Arrow's VP Exploration, commented \"The recent discovery announced by Opawica further demonstrates Arrow's confidence in the mineral potential of this largely under-explored region. Arrow holds claims covering approximately 12 km of this important structure extending north and south of the Atikwa discovery. A number of poorly documented gold showings including several with underground operations are located on and adjacent to Arrow claims. The Virginia Mine, the Chipman Mine, and the Empire Lake Mine have historical production dating from the early 1900's. A review of the gold showings on Canadian Arrow claims is certainly warranted in light of the Atikwa results\".
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.
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* The estimate of historic resource predates and is non-compliant with
NI 43-101. Arrow is not treating the historical estimate as a
current mineral resource or reserve. Arrow has not undertaken an
independent investigation of the resource estimate nor has it
independently analyzed the results of the previous exploration work
in order to verify the resource, and therefore the historical
estimate should not be relied upon.
The Company also announces that, subject to regulatory approval, incentive
stock options have been granted to certain directors, officers and employees
entitling them to purchase up to 1,900,000 shares of the Company at a price of
$0.28 per share, exercisable until February 21, 2013.