Canadian Arrow Mines New Nickel Discovery - 4.51% Ni over 0.75m
Wed Apr 30, 7:06 AM
ca.news.finance.yahoo.com
SUDBURY, ON, April 30 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the "Company") has intersected massive Ni-Cu sulphides while exploring the Denmark Lake Property, situated approximately 10 km south of the Kenbridge deposit. A high grade section assaying 4.51% Ni, 0.44% Cu, 0.15% Co over a core length of 0.75 metres was discovered in the first hole of the exploration program. The mineralization consists of massive, blebby and disseminated sulphides positioned near the base of an ultramafic intrusion, a geological setting typical of most magmatic nickel deposits. Appreciable platinum and palladium contents are present in the discovery which is consistent with this ultramafic hosted deposit type.
Hole From To Length Ni Cu Co Pt Pd
m m m % % % gm/t gm/t
CL-08-01 39.4 64.0 24.6 0.35 0.36 0.01 0.20 0.10
CL-08-01 39.4 53.5 14.1 0.41 0.45 0.02 0.25 0.12
CL-08-01 39.4 45.8 6.4 0.79 0.53 0.03 0.33 0.14
CL-08-01 39.4 42.0 2.6 1.72 0.86 0.06 0.39 0.13
CL-08-01 40.2 40.95 0.75 4.51 0.50 0.16 0.02 0.02
CL-08-01 59.0 64.0 5.0 0.41 0.34 0.02 0.15 0.08
CL-08-02
CL-08-03 41.0 45.0 4.0 0.38 0.79 0.02 0.13 0.06
CL-08-03 59.0 65.9 6.9 0.32 0.71 0.02 0.18 0.08
CL-08-02 was drilled below the dip of the host intrusion and did not
intersect mineralization.
Todd Keast, Arrow's VP Exploration commented "The Caribou Lodge discovery demonstrates the excellent exploration potential of the area and opportunity for Arrow to rapidly identify and evaluate high potential targets such as this one. There has been minimal exploration conducted on this body in the past, we are very encouraged by the preliminary results and will be undertaking a comprehensive exploration program. The new discovery differs geologically from the Kenbridge Deposit and presents a new deposit type to explore for. We will continue our efforts to evaluate the discovery and identify additional targets to evaluate in our ongoing regional exploration program."
Hole Depth North East Azimuth Dip
CL-08-01 204 5470754 451682 230 -49
CL-08-02 270 5470772 451700 226 -49
CL-08-03 249 5470793 451654 217 -55
The exploration program is being carried out under the direction of the Company's Vice President of Exploration, Mr. 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 Mr. Kim Tyler, P. Geo., President of the Company, a qualified person as defined by National Instrument 43-101.
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".
Investors are invited to visit Canadian Arrow's IR Hub at agoracom.com where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to CRO@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
If you would like to receive press releases via email please contact:
sarah@chfir.com.
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
RESPONSIBILITY FOR ITS CONTENTS.
THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THIS
PRESS RELEASE.
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.
Contacts
visit the website at www.canadianarrowmines.ca
or call toll free
1-877-262-6354
or contact: Canadian Arrow Mines
Ltd.
R. Kim Tyler
P. Geo
President
Tel: (705) 673-8259
E-mail: kim@canadianarrowmines.ca
CHF Investor Relations
Barry Leung
Tel: (416) 868-1079 ext. 222
E-mail: barry@chfir.com
or Sarah Gingerich
Tel: (416) 868-1079 ext. 238
E-mail: sarah@chfir.com |
