NEWS CROCanadian Arrow reports Turtlepond Phase II drillresults and provides update on projects5hours ago - ACQUIREMEDIA
SUDBURY, ON,May 27 /CNW/ - CanadianArrow Mines, Ltd. (CRO: TSX-V) (the "Company")reports partial assay results on the second phase of drilling on itsTurtlepond Ni-Cu-PGE-Au projects.
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Double E Discovery
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Three follow-up holes totaling 442 metres were completed on theDouble E target. One hole, EE-10-04, intersected significant sulphidemineralization within pyroxenite intrusive host rock. As in the previousphase the drilling intersected two separate mineralized zones asfollows;
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- 0.51% Ni, 0.23% Cu, 0.021% Co, 0.21 gpt PGM+Au and 0.50 gpt Ag over
1.9 metres between 21.5m-23.4m down the hole and,
- 0.52% Ni, 0.28% Cu, 0.026% Co, 0.29 gpt PGM+Au and 1.53 gpt Ag over
1.9 metres between 28.0m-29.9m down the hole
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Drilling completed on two holes from the previous program (Jan.12, 2010) yielded 0.94 gpt PGM+Au over a two metre wide sectionthat included 2.5 gpt Ag, 1.35% Ni and 0.81% Cu. The two phases ofdrilling are spaced on sections 50 metres apart along strike. Thedrilling has not closed off mineralization to depth or along strike.
Kim Tyler, President of the Company, said, "Theseresults are encouraging and warrant further work and development. TheCompany is seeking nearby, accessible deposits suitable forsupplementing ore feed to a proposed central milling facility located atits Kenbridge nickel copper project located approximately 70 km away.Although intersections to date at Double E are indicated to be thinner,the grades are comparable to those encountered in the open pit portionof Kenbridge. The Double E and Night Danger targets remain the mostintriguing targets for follow-up. Right now our immediate focus is thepossible recommencement of production at our Timmins nickelprojects, but we will also continue to develop the potential ofincorporating Turtlepond into our key Kenbridge Project. "
Below is a table of significant intersections completed to date.
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From To Sec- Pt Pd Au Ag
Hole (m) (m) Length tion Ni% Cu% Co% gpt gpt gpt gpt
EE-09-01 65.0 69.8 4.8 1200E 0.24 0.22 0.01 0.06 0.04 0.05 0.6
EE-09-02 25.5 29.7 4.2 1200E 0.81 0.52 0.02 0.20 0.16 0.20 1.7
Includes 25.5 27.5 2 1200E 1.35 0.81 0.04 0.36 0.27 0.31 2.5
EE-09-02 135.1 143.3 8.2 1200E 0.55 0.38 0.02 0.13 0.12 0.05 0.9
EE-10-04 21.4 23.4 1.9 1150E 0.51 0.24 0.02 0.11 0.07 0.03 0.5
EE-10-04 28.0 29.9 1.9 1150E 0.52 0.28 0.03 0.14 0.09 0.05 1.5
Night Danger Discovery
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Assay results from drill core obtained from drilling of the NightDanger discovery have prompted further sampling. Assay results arepending and will be released as they become available.
Double E and Night Danger are new discoveries identified by theCompany and have no previous exploration history.
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North Glatz Anomaly
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One hole was completed on the North Glatz geophysical target. Thehole intersected barren iron sulphide inter-flow bands and veins withinmafic pillowed volcanic flows.
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Prigg Showing
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Four holes totaling 472m completed on the Prigg showing did notintersect significant mineralization. Significant grab samples however,previously collected from surface showings at Prigg, returned PGM+Auvalues between 0.514 gpt-0.207 gpt. Additional nickel and copper valuesyielding between 0.86%-0.12% and 0.70%-0.12% respectively inpyroxenite/gabbro host rocks are reported from field work completed bythe Company.
The exploration program is being carried out under the direction ofThe Company's Vice President of Exploration,Todd Keast P. Geo.,a qualified person as defined by National Instrument 43-101. Theinformation in this release was prepared under the direction ofKimTyler, P. Geo., President of the Company, a qualified personas defined by National Instrument 43-101.
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Analytical Method
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Mineralized diamond drill hole intervals reported are down hole corelengths only. NQ diameter drill core samples are split in half; onehalf being retained in its original core box and the second half sent toan independent commercial laboratory for analysis. Samples are analyzedby ALS Chemex Laboratories in Vancouver, BC.Samples analyzed for base metals (nickel, copper, and cobalt) aredigested with a four acid digestion technique with an ICP-AES finish.Precious metals, (platinum, palladium and gold), are fire assayed withan ICP-AES finish.
About Canadian ArrowMines:
Canadian Arrow MinesLimited is developing two advanced nickel/copper mining projectslocated near existing infrastructure in Ontario, Canada. It's principal asset isthe Kenbridge Project, a nickel-copper sulphide depositcontaining over 44,000 tonnes of nickel in the measured & indicatedclasses, (Sedar, Aug. 19, 2008), as follows:
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- Measured Resource: 3,546,000 tonnes grading 0.45% nickel,
0.24% copper, 0.015% cobalt.
- Indicated Resource: 3,593,000 tonnes grading 0.79% nickel,
0.42% copper, 0.018% cobalt.
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The deposit remains open in three directions, is equipped with a 620m shaft and has never been mined.
The Company also owns the past producing Alexo and Kelex depositslocated in the east Abitibi nickel district east of Timmins Ontarioand is reviewing plans to re-start production.
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* National Instrument 43-101: Mr.E. Puritch, P. Eng.,
Ms.Tracy Armstrong, P.Geo., andAntoine Yassa, P.Geo. of P&E Mining
Consultants Inc. are the independent qualified persons for the
Kenbridge resource estimates.
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Mineral resources which are not mineral reserves do not havedemonstrated economic viability. The estimate of mineral resources maybe materially affected by environmental, permitting, legal, title,socio-political, marketing, or other relevant issues.
Additional information relating to Canadian Arrow is available onSEDAR at www.sedar.com
This press release may contain "forward-looking statements" withinthe meaning of the Canadian securities legislation and the United StatesPrivate Securities Litigation Reform Act of 1995. These forward-lookingstatements are made as of the date of this press release and theCompany does not intend, and does not assume, any obligation to updatethese forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider(as that term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.