SUDBURY, ON, June 1 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the "Company") reports assay results on the latest phase of drilling on its new Night Danger nickel-copper discovery located in the Turtlepond Project area near Dryden, Ontario.
Hole ND-10-03 intersected 4.53% Ni, 0.08% Cu, 0.15% Co over a 0.7m interval within a larger interval averaging 1.02% Ni, 0.38% Cu, 0.035% Co over 4.0 metres between 56.0m-60.0m. The previous phase of drilling on the Night Danger discovery (Jan. 7, 2010) yielded a nine metre section assaying 0.57% Ni and 0.45% Cu. The mineralization remains open along strike and to depth.
Kim Tyler, President of the Company, stated, "The Night Danger results continue the positive momentum established by the results received last week with our other new Double E discovery also located in the Turtlepond project area about 1.5 km away. We are strongly encouraged by the growing similarity between our Turtlepond and Kenbridge projects with the Lynn Lake nickel camp in northern Manitoba. The geological model envisioned both at Turtlepond and Kenbridge are clusters of pyroxenite/gabbro pipes hosting nickel-copper mineralization similar to that at Lynn Lake. Lynn Lake is North America's third largest nickel production camp having produced over 20 million tonnes of nickel-copper ore. We look forward to expanding our exploration efforts at both Turtlepond and Kenbridge after we have advanced our Timmins nickel projects where the Company is directing its focus towards assessing the re-start of production. The Timmins projects have the potential to provide an earlier production decision, a rapid return on investment and an opportunity to finance the Company's projects through its own cash flow with minimal equity financing."
The Night Danger target was identified during the Canadian Arrow 2008 VTEM Airborne Survey in the Turtlepond Lake Area. The well pronounced anomaly, detected on two adjacent 100 metre spaced flight lines, is situated in a swampy area with no surface exposure. Diamond drill hole ND-09-1 intersected two separate intervals of sulphide mineralization between 63.4 and 88.0 metres. Narrow sections of up to 1.3% Nickel are contained within the lower sulphide horizon.
Table 1 - Night Danger Significant DDH Assay Results to date
Hole From (m) To (m) Section Length Ni% Cu% Co%
ND-09-1 63.45 71.85 700E 8.4 0.27 0.22 0.01
Includes 66.75 68.8 700E 2.05 0.60 0.42 0.02
ND-09-1 79.0 88.05 700E 9.05 0.57 0.44 0.02
Includes 79.0 79.8 700E 0.8 1.04 0.13 0.04
Includes 85.3 86.25 700E 0.95 1.31 1.99 0.04
ND-10-3 56.0 60.0 700E 4.0 1.02 0.38 0.03
Includes 700E 0.7 4.53 0.08 0.01
ND-10-3 86.4 88.0 700E 1.6 0.22 0.10 0.01
Night Danger is the second new discovery identified by the Company and has no previous exploration history. The new Night Danger and Double E discoveries are located approximately 70 km east of the Company's flagship Kenbridge nickel/copper project.
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.
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 ALS Chemex Laboratories in Vancouver, BC. Samples analyzed for base metals (nickel, copper, and cobalt) are digested with a four acid digestion technique with an ICP-AES finish. Precious metals, (platinum, palladium and gold), are fire assayed with an ICP-AES finish.
About Canadian Arrow Mines:
Canadian Arrow Mines Limited is developing two advanced nickel/copper mining projects located near existing infrastructure in Ontario, Canada. It's principal asset is the Kenbridge Project, a nickel-copper sulphide deposit containing over 44,000 tonnes of nickel in the measured & indicated classes, (Sedar, Aug. 19, 2008), as follows:
- Measured Resource: 3,546,000 tonnes grading 0.45% nickel, 0.24%
copper, 0.015% cobalt.
- Indicated Resource: 3,593,000 tonnes grading 0.79% nickel, 0.42%
copper, 0.018% cobalt.
The deposit remains open in three directions, is equipped with a 620 m shaft and has never been mined.
The Company also owns the past producing Alexo and Kelex deposits located in the east Abitibi nickel district east of Timmins Ontario and is reviewing plans to re-start production.
* National Instrument 43-101: Mr. E. Puritch, P. Eng., Ms. Tracy
Armstrong, P.Geo., and Antoine Yassa, P.Geo. of P&E Mining
Consultants Inc. are the independent qualified persons for the
Kenbridge resource estimates.
Mineral resources which are not mineral reserves do not have
demonstrated economic viability. The estimate of mineral resources
may be materially affected by environmental, permitting, legal,
title, socio-political, marketing, or other relevant issues.
Additional information relating to Canadian Arrow is available on SEDAR at www.sedar.com
This press release may contain "forward-looking statements" within the meaning of the Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume, any obligation to update these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Canadian Arrow Mines Limited
For further information: For further information: visit the website at www.canadianarrowmines.ca, or contact Mr. Kim Tyler, President and Director, toll free, 1-877-673-5462.