SUDBURY, ON, Nov. 12 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the "Company"), reports 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.
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Highlights of the surface grab sampling program include:
- 1.28% Ni, 0.26% Cu, Glatz trench 3
- 0.99% Ni, 0.18% Cu, Glatz trench 3
- 0.39% Ni, 4.06% Cu, Glatz trench 4
- 0.70% Ni, 0.37% Cu, Apex
- 0.61% Ni, 0.11% Cu, Nielson Gauthier
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Glatz Property - Seven of twelve trenches from historic exploration programs were located and sampled. The trenches are situated along 450m of the historic 700m long trend. Sulphide mineralization has been identified in all trenches with assay results returning values up to 1.28% Ni and 4.06% 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 8 km south of the Kenbridge deposit. Apex has a historical non NI43-101 compliant resource estimate of 237,600 tonnes of 0.56% Ni, 1.03% Cu(i) 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% Ni, 0.37% Cu, 0.59% Ni, 0.61% 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 which the Apex occurrence is associated.
Nielsen Gauthier and Ross Creek Showings - The Nielsen Gauthier showing is located 10 km south of the Kenbridge Deposit and consists of several trenches, a number of unexplained induced polarization anomalies (IP), and a historical drill hole that reportedly intersected 0.78% Cu over 15 metres. A grab sample from the historical trench returned 0.61% Ni, 0.11% Cu. The mineralization is interpreted to be associated with the large under explored Denmark Lake Intrusion.
A table of significant assay results is provided below.
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UTM UTM
Sample No. Prospect Easting Northing %Ni %Cu %Co
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14717 Glatz - trench 1 520063 5484382 0.59 0.33 0.04
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14723 Glatz - trench 3 520192 5484357 0.66 0.17 0.07
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14724 Glatz - trench 3 520192 5484357 1.00 0.18 0.08
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14725 Glatz - trench 3 520192 5484357 1.28 0.26 0.11
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14731 Glatz - trench 4 520362 5484366 0.39 4.06 0.02
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14737 Glatz - trench 5 520432 5484341 0.39 0.19 0.02
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14809 Apex 454190 5473361 0.59 0.61 0.02
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14810 Apex 454196 5473360 0.70 0.37 0.02
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14812 Apex 454235 5473371 0.36 0.37 0.01
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14842 Apex 454166 5473331 0.34 1.79 0.02
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14826 Nielson-Gauthier 451680 5470742 0.61 0.12 0.03
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14836 Ross Creek 450324 5470785 0.26 0.45 0.01
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14837 Ross Creek 450326 5470787 0.20 0.46 0.01
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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 over all 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 caliber which fit with Arrow's strategy of building nickel sulphide resources in the vicinity of our flagship Kenbridge Nickel Deposit."
Analytical Method
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Samples are analyzed by ISO 17025 accredited Accurassay Laboratories in Thunder Bay, Ontario. 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, 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.
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.
About Canadian Arrow Mines, Ltd.
Canadian Arrow Mines, Ltd. is an established Canadian exploration and development Company committed to developing and advancing base metal deposits close to existing infrastructure through exploration, development and acquisition. Shares of Canadian Arrow Mines trade on the TSX Venture Exchange under the symbol "CRO".
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THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
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THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THIS
PRESS RELEASE.
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This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with The TSX Venture Exchange, Canadian Securities Commissions, and the United States Securities & Exchange Commission. Not to be construed as an offer to buy or sell securities of this company.
%SEDAR: 00008534E
For further information: visit the website at www.canadianarrowmines.ca, or call toll free, 1-877-262-6354, or contact: Canadian Arrow Mines, Ltd., Mr. Kim Tyler, P. Geo, President, Tel: (705) 673-8259, E-mail: kim@canadianarrowmines.ca; CHF Investor Relations, Mr. Barry Leung, Tel: (416) 868-1079 ext. 247, E-mail: barry@chfir.com or Ms. Cathy Hume, CEO, Tel: (416) 868-1079 ext. 231, E-mail: cathy@chfir.com
