SUDBURY, ON, Jan. 19 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the "Company") reports drill results on its Emmons project, the fourth project reported of six nickel-copper and now PGE targets, in its Turtlepond Lake projects area. Of the six holes drilled on Emmons, three intercepted nickel-copper sulphides as well as significant platinum/palladium/gold (PGM+Au) mineralization. The remaining three holes did not intersect obvious sulphide mineralization.
Most significantly drill hole EM-09-04 intercepted 0.21% Ni, 0.62% Cu, 0.62 gpt PGM+Au and 4.4 gpt Ag over a 2.1m interval. Mineralization is hosted within a gabbro-pyroxenite intrusive host similar to the recently discovered Double E ultramafic intrusion previously reported by the Company (Jan. 12, 2010) that also displays associated nickel-copper-PGM mineralization located approximately 4 km to the south. The Emmons drill results coincide with significant surface sample assay results previously collected by the Company including 0.04% Ni, 7.10% Cu and 1.26 gpt PGM+Au reported in Table 2 below.
Table 1 - Emmons Significant DDH Assay Results
Hole From To Length Ni% Cu% Co% Pt gpt Pd gpt Au gpt Ag gpt
EM-09-02 0.7 1.5 0.8 0.13 0.33 0.00 0.09 0.04 0.10 2.0
EM-09-04 8.4 10.5 2.1 0.21 0.62 0.01 0.23 0.12 0.27 4.4
EM-09-07 0.5 12 11.5 0.44 0.47 0.01 0.10 0.06 0.09 2.0
Includes 0.5 4.8 4.3 0.74 0.56 0.02 0.14 0.09 0.11 2.0
During 2008 the Company conducted reconnaissance prospecting, mapping and sampling. From the 33 grab samples collected in and around the vicinity of the Emmons showing 9 samples contained elevated PGM+Au values between 0.141 to 1.24 gpt. The significant surface sample assay results tabled below are reported from field work completed by the Company in 2008 and filed for assessment with the Ontario Ministry of Northern Development and Mines.
Table 2 - Emmons Significant 2008 Surface Grab Sample Assay Results
Lab Sample No. Ni% Cu% Co% Pt gpt Pd gpt Au gpt
177207 0.71 0.88 0.02 0.18 0.11 0.30
177209 1.20 1.23 0.02 0.15 0.09 0.17
177210 1.57 0.44 0.04 0.05 0.11 0.03
177211 1.05 0.96 0.03 0.13 0.10 0.23
177214 0.98 1.08 0.02 0.27 0.18 0.17
177215 0.34 0.75 0.01 0.14 0.05 0.13
177216 0.51 0.82 0.01 0.22 0.09 0.22
177217 0.04 7.10 0.00 0.53 .020 0.54
177218 0.06 0.26 0.00 0.25 0.04 0.06
Kim Tyler President of the Company stated, "We are again encouraged by the increasing evidence for precious metals associated with nickel copper sulphide mineralization in the greater region as evidenced previously at Double E and now the Emmons project. In addition the previous surface sample results and historical work at Emmons are further enhanced by these drill results. We look forward to applying this new knowledge to our exploration models as we continue to explore and develop our regional projects."
Two remaining targets, North Glatz and Prigg, are planned for first pass drilling in the Turtlepond area this season. Additional follow up drilling will be planned upon completion of pending detailed ground geophysical surveys.
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.
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:
Canadian Arrow Mines Limited is focused on acquiring and developing nickel sulphide deposits near existing infrastructure. The Company'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.
* 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