Attention Business Editors:
Canadian Arrow Mines Ltd.: 23 metres grading 0.99% nickel intersected at Kenbridge, deposit extended, deeper drilling started
SUDBURY, ON, Oct. 25 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the
"Company), reports the completion of drilling on the open pit portion of the
Kenbridge Deposit. A total of 123 holes (16,800 metres) have been drilled in
the open pit area since program startup in April 2007. Assay results to date
have been received for 53 of these holes with results for the most recent 13
holes reported within this release.
New Highlights include:
Hole No. From To L(m) %Ni %Cu %Co
-------- ---- -- ---- --- --- ---
KB-07-68 23.6 67.2 43.6 0.50 0.14 0.02
includes 8.6 1.73 0.47 0.08
KB-07-68 121.0 125.2 4.2 2.35 0.47 0.07
KB-07-69 53.0 76.0 23.0 0.99 0.26 0.03
includes 4.4 3.52 0.53 0.09
KB-07-70 146.0 194.0 48.0 0.49 0.28 0.01
includes 12.3 1.23 0.51 0.01
and 3.9 2.92 0.74 0.06
KB-07-82 49.5 89.9 40.3 0.44 0.36 0.01
includes 2.6 1.59 1.19 0.03
KB-07-92 3.6 36.8 33.2 0.46 0.16 0.02
includes 5.3 1.10 0.39 0.03
Hole KB-07-69 was drilled 40 metres below previously reported hole
KB-07-38 which intersected 1.0% Ni, 0.23% Cu over a core length of 50.8m
indicating a significant volume of near surface higher grade mineralization.
In addition, the strike length of the deposit has been expanded by
40�metres to a length of 290 metres. Mineralization in KB-07-57, (0.92% Ni,
0.44% Cu over 12.3m), represents the southern most intersection on the
deposit, with the zone remaining open to the south. Two drill rigs have
commenced testing the deeper portions of the deposit, and will continue
operations until at least the end of 2007. The potential for an underground
mining operation is supported by a 600 metre deep shaft sunk by Falconbridge
Nickel Mines in the 1950's.
Todd Keast VP exploration commented "The completion of this phase of
drilling will allow us to rapidly evaluate the viability of an open pit mining
operation at Kenbridge. The newly discovered plunge of the deposit to the
south indicates the potential for the discovery of additional mineralization.
With the deeper phase of drilling started it is significant that Falconbridge
Nickel Mines intersected 4.25% Ni, 1.38% Cu, over 3.26m at 200m below the
shaft bottom and that the mineralization remains open beyond 800m below
surface."
Kim Tyler, President of Arrow, also stated, "The occurrence of higher
grade zones in the near surface portion of the orebody exceeds our
expectations and greatly enhances the economics for an open pit. We have met
our objective to drill off the upper portion of the Kenbridge deposit and are
now moving into the next phase of confirming the deeper underground resource."
Detailed Drill Results
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Hole From To Length %Ni %Cu %Co
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KB-07-60 Assays Pending
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KB-07-61(*) No significant assays
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KB-07-62(*) No significant assays
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KB-07-63(*) No significant assays
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KB-07-64 Assays Pending
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KB-07-65 Assays Pending
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KB-07-66(*) No significant assays
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KB-07-67 49 63.8 14.8 0.46 0.28 0.02
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KB-07-67 96.9 101.1 4.2 1.17 0.30 0.03
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KB-07-68 23.6 67.2 43.6 0.50 0.14 0.02
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includes 26 41 15 1.11 0.30 0.05
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includes 32.4 41 8.6 1.73 0.47 0.08
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KB-07-68 110.6 125.2 14.6 0.87 0.19 0.03
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includes 121 125.2 4.2 2.35 0.47 0.07
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KB-07-68 135.1 151 15.9 0.71 0.51 0.03
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KB-07-69 53 76 23 0.99 0.26 0.03
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includes 70.3 74.7 4.4 3.52 0.53 0.09
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KB-07-69 139 147 8 0.59 0.40 0.02
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KB-07-69 160.6 172.7 12.1 0.33 0.44 0.01
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KB-07-70 146 194 48 0.49 0.28 0.01
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includes 146 158.3 12.3 1.23 0.51 0.03
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includes 147.1 151 3.9 2.92 0.74 0.06
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includes 175 194 19 0.39 0.34 0.01
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KB-07-71 Assays Pending
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KB-07-72 26 32.2 6.2 0.35 0.25 0.01
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includes 28 31 3 0.60 0.44 0.02
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KB-07-72 37 44 7 0.30 0.13 0.01
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KB-07-72 51.2 56 4.8 0.92 1.18 0.03
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KB-07-73 14.0 16.5 2.5 0.44 0.19 0.02
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KB-07-74
to 80 Assays Pending
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KB-07-81 4 61.6 57.6 0.32 0.22 0.01
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includes 40 61.6 21.6 0.47 0.32 0.02
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includes 45.7 50.2 4.5 1.21 0.41 0.05
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KB-07-82 49.5 89.9 40.3 0.44 0.36 0.01
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includes 77.2 79.8 2.6 1.59 1.19 0.03
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KB-07-83
to 91 Assays Pending
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KB-07-92 3.6 36.8 33.2 0.46 0.16 0.02
-------------------------------------------------------------------------
includes 31.5 36.8 5.3 1.10 0.39 0.03
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KB-07-92 59.7 64 4.3 0.61 0.28 0.02
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KB-07-92 106 119.2 13.2 0.26 0.12 0.01
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KB-07-93
to 97 Assays Pending
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KB-07-98 1.6 18 16.4 0.81 0.30 0.02
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includes 1.6 6.7 5.1 2.07 0.45 0.05
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KB-07-98 77.5 119.6 42.1 0.38 0.29 0.01
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includes 77.5 99.85 22.35 0.35 0.21 0.01
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KB-07-98 1.6 18 16.4 0.81 0.30 0.02
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includes 1.6 6.7 5.1 2.07 0.45 0.05
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KB-07-98 77.5 119.6 42.1 0.38 0.29 0.01
-------------------------------------------------------------------------
includes 77.5 99.85 22.35 0.35 0.21 0.01
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includes 88.9 92.1 3.2 0.89 0.29 0.03
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KB-07-98 108 119.6 11.6 0.66 0.64 0.02
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(*) Holes KB-07-61 to 63 and KB-07-66 were drilled outside the deposit.
The table below details assayed drill hole survey and directional data.
Hole Number Northing Easting Elevation Azimuth Dip
KB-07-61 12527 6125 1520 308 -45
KB-07-62 12558 6086 1515 305 -45
KB-07-63 12558 6138 1517 303 -45
KB-07-66 12527 6150 1520 302 -45
KB-07-67 12497 6144 1522 304 -45
KB-07-68 12375 6147 1522 306 -45
KB-07-69 12375 6167 1522 304 -45
KB-07-70 12344 6182 1522 312 -45
KB-07-72 12405 6095 1518 300 -45
KB-07-81 12298 6078 1510 310 -47
KB-07-82 12298 6101 1510 311 -47
KB-07-92 12390 6122 1516 333 -46.2
KB-07-98 12359 6123 1510 308 -44.9
Analytical Method
-----------------
Mineralized Diamond drill hole intervals reported are down hole core
lengths only. NQ diameter drill core samples are split in half; one half being
retained in its original core box and the second half sent to an independent
commercial laboratory for analysis. 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.
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".
If you would like to receive press releases via email please contact:
catarina@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.
%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., 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. 247, E-mail: barry@chfir.com; or Cathy Hume, CEO, Tel: (416)
868-1079 ext. 231, E-mail: cathy@chfir.com
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VanEck Vectors Global Alternative Energy ETF
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PRODUCER |
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CODE : CRO.V |
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ISIN : CA1353431010 |
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Canadian Arrow is a nickel and gold producing company based in . Canadian Arrow produces nickel, gold, cobalt and copper in Canada, develops cobalt, copper and nickel in Canada, and holds various exploration projects in Canada. Its main assets in production are ALEXO and CHIEF PETER LAKE in Canada, its main asset in development is KENBRIDGE in Canada and its main exploration properties are ATIKOKAN PROPERTIES, HALLIDAY DOME and HART in Canada. |