Arrow Minerals Ltd Stock Market Press Releases and Company Profile

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More High-Grade Bauxite Assays Extend Known Mineralisation
More High-Grade Bauxite Assays Extend Known Mineralisation

Perth, Nov 27, 2024 AEST (ABN Newswire) - Arrow Minerals Limited (googlechartASX:AMD) is pleased to report further outstanding assays from its maiden drilling program at the Niagara Bauxite Project in Guinea.

Second batch of results from Arrow's first drilling at Niagara Bauxite Project define high grade bauxite to >5km cumulative strike within trucking distance of the multiuser railway. Assays from another 90 holes pending.

Highlights

- Maiden drilling program results confirm high grade bauxite discovery at the Niagara Bauxite Project.

- Second batch of assays results received from 32 holes include;

o BS000020, 7 metres at 49.4% Al2O3, 0.7% SiO2 from surface
o BS000035, 6 metres at 48.3% Al2O3, 2.6% SiO2 from surface
o BS000036, 6 metres at 45.7% Al2O3, 1.0% SiO2 from surface
o BS000040, 5 metres at 49.5% Al2O3, 3.0% SiO2 from surface
o BS000042, 8 metres at 43.3% Al2O3, 3.3% SiO2 from 6 metres
o BS000043, 3 metres at 45.5% Al2O3, 2.0% SiO2 from 3 metres

- Results from a further 90 holes are due in December.

- Grade and thickness intercepted over what is now an aggregate >5km strike length

- Guinea is the world's largest producer of bauxite, typically attracting a premium for high grade and low silica content.

- Following the drilling of 180 holes (on 800 by 800 metres spacings) by Vale in 2007, Arrow has defined 9 bauxite exploration targets. Three are being tested in the current campaign.

- Discussions with potential bauxite customers have commenced, generating significant interest at a time of record high bauxite prices.

- Arrow has already completed first pass baseline environmental studies and commenced community engagement activities.

- Arrow MD David Flanagan will host an Investor Webinar tomorrow (28 November) at 8.30am AWST (11.30am AEDT); Investors can register to join the webinar via the following link:
https://www.abnnewswire.net/lnk/L95H315K

The project is located within trucking distance (~100km) of the multi-user Trans-Guinean Railway (refer Figure 1*).

Arrow has already completed first pass baseline environmental studies, community engagement, and commenced recruitment of people from local communities to support the current operations. Managing Director, David Flanagan, commenting said:

"These are more strong results which have delineated three broad zones of mineralisation from surface over a combined 5km strike length within trucking distance of a multi-user railway at a time of record alumina and bauxite prices."

"Guinea is the world's largest and most important supplier of high-quality bauxite. These results are comfortably in line with the product that has made Guinea the world's number one bauxite producer."

"Guinea bauxite is in high demand contributing approximately 30% of global consumption and at 45% Al2O3 and 3% SiO2 is currently approaching US$100/t CIF China."

"Coupled with the broad expanse of prospective host rocks intersected in drilling and our proximity to the multi-user Trans-Guinean railway, the Niagara Bauxite Project presents an excellent opportunity to create value for shareholders, generate jobs in local communities, and consistent with Arrow's goal of establishing itself as a new and independent significant, high quality bauxite supplier."

"Arrow is focused on achieving its goal to be a low-capital, highly profitable mining operation that will serve as a platform for future growth. We are very excited about our drilling results and look forward to receiving more over the coming weeks, with the goal of estimating resources to form the basis for our planned Scoping Study to follow in the first half of 2025. We believe we are on track to deliver."

Niagara Bauxite Project and Bauxite Background

Arrow is exploring the Niagara Bauxite Project with the benefit of work done on this project by various mining companies from the 1960's including geology and assays from 180 holes drilled by Vale in 2007. This announcement includes results for 30 drillholes completed and assayed as part of a program of 170 holes targeting mineralisation intercepted in historical drilling.

A typical Guinea bauxite deposit is flat with a thickness that varies from 1 to 10 metres, on average, will have 45 to 46% alumina and silica levels typically averaging 3%.

The application of surface miners to bauxite mining is now common in Guinea, negating the need for drill and blast, and crushing. The ability to excavate consolidated material (i.e. no drill and blast) and mine a minimum mining thickness of approximately 300mm using high precision GPS and machine guidance makes the surface miner well suited to bauxite mining in Guinea. The Company has visited bauxite mining operations, inspected various mining equipment and met with contractors with current operating experience in bauxite mines in Guinea. The information collected during these visits, combined with the results from the current drilling campaign, allows the Company to start to define important operating parameters that will ultimately be fed into a planned Scoping Study (subject to, among other things, whether relevant mineral resources can be estimated).

Arrow has also commenced and completed first pass baseline environmental and community impact studies. The Company remains committed to progressing this work and continuing to engage with all relevant stakeholders through the permitting processes to conclude them in a timely manner. No impediments to exploration or mining have been identified and the Company has established productive relationships with key community and government stakeholders.

There are several existing tracks and roads which can be leveraged to link the project to the TransGuinean Railway (TGR) which is currently under construction (Figure 1*). The TGR is being commissioned and funded by a large consortium in a joint venture which includes the Government of Guinea as a 15% part owner. Members of the consortium include Baosteel, Chinalco, Winning, Rio Tinto, Hongqiao and the Government of Guinea. The TGR will be operated by a management company that will provide ore haulage services to the developers of the two large mines at Simandou and other third parties (Figure 5*).

Arrow has previously signed a Memorandum of Understanding (MOU) with Baosteel. This MOU, subject to the Company delivering a fully permitted mining project, contemplates concluding a binding mine gate sale agreement for iron ore from Arrow's Simandou North Iron Project to Baosteel.

The railway is due for commissioning in late 2025.

The Company intends to take full advantage of the multi-user obligations of the TGR to underpin the development of the Niagara Bauxite Project for the benefit of shareholders and the people of Guinea.

Against a backdrop of currently record high bauxite prices (Chart 1*), the drilling results at Niagara have so far delivered high grade intercepts from surface in several drillholes across substantial lateral extent. Given the location is within potential trucking distance of the TGR the Company is very encouraged by the drilling results received to date.

Geological Results

Analysis from the 32 drillholes (the subject of this announcement) for a total of 360 metres of drilling have been received from ALS Global. 11 drillholes for 142m drilling are reported from Boussoura North (BS000033 - BS000043), along with 21 holes for 218m (BS000001 to BS000021) at Boussoura South.

Results are reported in Table 1* and Table 2* using a 1m minimum intercept, nil dilution for intervals less than 4m, 1m dilution for intervals greater than 4m, and a cut-off grade of 40% Al2O3. For completeness, the first drillhole (BS000032) reported to the ASX on 25 November 2024 is included in Table 1* for grade and thickness comparison.

Drillholes that returned assays below cut-off grade at Boussoura South are omitted from reporting but may subsequently be reported subject to the results of metallurgical testwork. The locations of all drill intercepts are shown in Figure 3* for Boussoura North, and Figure 4* for Boussoura South.

Details of drill collar locations, analytical results, and simplified geology are given in Appendix I*.

Samples for XRF analysis are processed and reported by ALS Global in batches of 200 samples. This represents the second batch of 429 analyses in the Company's first consignment of 629 samples.

Results reported herein continue to confirm the presence of bauxites with grades in the range of 40 - 49% total alumina at the Eastern portion of the Boussoura North plateau. The elevated thickness of bauxite first noted in drillhole BS00032 (10m grading 46.6% Al2O3) is also present in drillholes BS00033-BS00036 incl, BS00040, and BS00041 where thicknesses range from 5m to 13m (Table 1*). The Company is encouraged by the coincidence of elevated grade, combined with elevated bauxite thickness within this area, and looks forward to receiving the analytical results for the remaining Boussoura North drillholes during December, to appraise to what extent the thickness of the bauxite extends across the plateau.

Elevated alumina grades are also encountered at the Western extremity of the Boussoura South plateau, ranging between 40.7% and 53.0% total alumina, and at thicknesses ranging between 1 to 2m (a single hole, BS000020 reaches 7m grading 49.4%). While thicknesses are more modest than Boussoura Central and North, the Company notes alumina and silica grades average 1.5m thickness grading 44.8% Al2O3 and 2.2% SiO2, excluding the BS00020 intercept. These grades are comparable to Guinea benchmark grade specifications noted above, and, thicknesses are mineable using contemporary bauxite mining methods.

The Eastern extremity of the Boussoura South plateau has been partially lateritised, which resulted in suppressed alumina grades that did not meet the cutoff grade for reporting.

The Company will continue to appraise the commercial significance of all bauxites encountered within the current drill program upon receipt of all drill results, and the results of metallurgical testwork from pitting and drillhole composites.

Thickness of total bauxite (bauxite + ferruginous bauxite) interpreted from geological logging is shown in Figure 2, 3 and 4* along with significant intercepts. Simplified geological logs used to determine the total bauxite thickness were reported by the Company to the ASX on 25 November 2024.

Cautionary Statement: Beyond the analyses for the 43 holes reported to date (including this announcement), the Company is highly encouraged by the geology identified in drilling completed to date and summarised in the ASX announcement dated 25 November 2024, but notes that chemical analyses are yet to be completed for the outstanding holes by independent assay laboratory, ALS Global. The identification of bauxite by geological logging of drill cuttings, and subsequent estimates of bauxite thickness does not imply bauxite mineralisation that is of potential economic significance for all or part of any lithological intercept until it is confirmed by chemical assay. Widths reported are downhole, which given the tabular nature of residual bauxite deposits, are considered as true widths of logged geological units.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/B1IL7V09


About Arrow Minerals Ltd

Arrow Mineral Ltd ASX:AMDArrow Minerals Ltd (ASX:AMD) is an exploration and development company focused on delivering long-term shareholder value through the discovery of economic mineral deposits in West Africa. The Company has implemented a systematic science-based exploration philosophy whilst remaining commercially nimble to ensure we capture and retain value.

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Contact

Arrow Minerals Ltd
E: info@arrowminerals.com.au
WWW: www.arrowminerals.com.au



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