Attention Business Editors:
Canadian Arrow - Assay update, underground resource estimate update initiated
SUDBURY, ON, April 29 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V)
(the "Company") reports assay results for the remaining diamond drill holes
from the deep drilling portion of the Kenbridge project. The company completed
60 diamond drill holes (17,786m) during the fall of 2007 and early 2008, below
the open pit portion of the deposit. Drilling has successfully traced
Ni-sulphide mineralization down to the 375m level of the deposit. The results
will be incorporated with the historical database in order to produce an
updated resource estimate for the underground portion of the deposit. The
resource estimate for the proposed open pit consists of 6.7 million diluted
tonnes grading 0.38% Ni and 0.23% Cu to a depth of 160m. The updated resource
estimate will be completed by P&E Mining Consultants of Brampton, Ontario.
Assay result highlights:
- KB-07-181 - 0.77% Ni, 0.29% Cu, 0.02% Co, over 17.8 m
- including 1.00% Ni, 0.32% Cu, 0.03% Co over 12.3 m
- KB-07-185 - 1.22% Ni, 0.35% Cu, 0.03% Co, over 17.8 m
- Including 2.46% Ni, 0.42% Cu, 0.05% Co, over 4.6 m
- KB-07-196 - 0.72% Ni, 0.48% Cu, 0.02% Co, over 23.5 m
- Including 1.27% Ni, 0.55% Cu, 0.04% Co, over 5.2 m
Commenting on the results, Todd Keast, Vice President Exploration of the
Company stated "The assay results demonstrate the excellent continuity of the
Kenbridge mineralization at depth. A pronounced orientation to the higher
grade ore shoots will be modeled into the updated underground resource
estimate. Recently announced higher nickel recoveries (see Press Release
April�16/08), a robust drill hole database will contribute to a positive
impact on underground resource estimate and the overall project economics.
Within a year we have completed the surface drilling of the deposit,
undertaken a series of environmental and geotechnical studies, purchased key
pieces of mining equipment, and entered formal consultations with Treaty 3
First Nations. We remain committed to developing the Kenbridge Project into a
viable mining operation."
Assay Results:
Hole From m To m Length m Ni% Cu% Co%
KB-07-181 284.2 302.0 17.8 0.77 0.29 0.02
KB-07-181 284.2 296.5 12.3 1.00 0.32 0.03
KB-08-184 282.5 283.5 1.0 1.26 0.58 0.05
KB-08-185 326.3 344.1 17.8 1.22 0.35 0.03
KB-08-185 336.1 340.7 4.6 2.46 0.41 0.05
KB-08-185 359.8 365.0 5.2 0.69 0.15 0.03
KB-08-195 303.6 309.7 6.1 1.06 0.55 0.04
KB-08-195 320.2 332.3 12.1 0.33 0.15 0.01
KB-08-195 329.0 332.3 3.3 0.50 0.32 0.01
KB-08-196 361.8 363.6 1.8 1.00 0.32 0.02
KB-08-196 357.0 395.0 38.0 0.54 0.35 0.02
KB-08-196 371.5 395.0 23.5 0.72 0.48 0.02
KB-08-196 371.5 376.7 5.2 1.27 0.55 0.04
KB-08-196 380.7 392.9 12.2 0.79 0.62 0.02
KB-08-196 380.7 386.7 6.0 1.03 0.50 0.02
KB-08-197 426.0 445.0 19.0 0.46 0.28 0.01
KB-08-197 428.0 431.2 3.2 0.83 0.45 0.02
Hole Locations:
Hole Depth Northing Easting Azimuth Dip
KB-07-181 325.5 5481426 454112 310 -57
KB-08-184 377.8 5481453 454126 307 -55
KB-08-185 407 5481453 454126 306 -65
KB-08-186 413 5481453 454126 303 -72
KB-08-187 401 5481510 454154 310 -52
KB-08-188 281 5481541 454119 306 -57
KB-08-189 264 5481541 454119 310 -45
KB-07-191 78 5481451 454069 308 -70
KB-07-193 410 5481312 454053 307 -61
KB-07-194 482 5481312 454053 307 -68
KB-08-195 380 5481364 454088 304 -55
KB-08-196 449 5481364 454088 302 -65
KB-08-197 497 5481364 545088 304 -69
These results represent completion for this phase of the Kenbridge
project. Future drilling on Kenbridge will be evaluated upon completion of the
updated resource estimate. Drilling has since progressed onto the Company's
regional exploration targets.
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".
Investors are invited to visit Canadian Arrow's IR Hub at
http://www.agoracom.com/IR/CanadianArrow 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.
%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 Sarah Gingerich, Tel: (416)
868-1079 ext. 238, E-mail: sarah@chfir.com
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PRODUCTEUR |
CODE : CRO.V |
ISIN : CA1353431010 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Canadian Arrow est une société de production minière de nickel et d'or basée . Canadian Arrow est productrice de nickel, d'or, de cobalt et de cuivre au Canada, en développement de projets de cobalt, de cuivre et de nickel au Canada, et détient divers projets d'exploration au Canada. Ses principaux projets en production sont ALEXO et CHIEF PETER LAKE au Canada, son principal projet en développement est KENBRIDGE au Canada et ses principaux projets en exploration sont ATIKOKAN PROPERTIES, HALLIDAY DOME et HART au Canada. |