SUDBURY, ON, Nov. 19 /CNW/ - Canadian Arrow Mines Limited (CRO: TSX-V) (the "Company") is pleased to report it has intersected sulphide mineralization on its Glatz nickel copper project located 40 km south of Dryden Ontario and 70 km east of its flagship Kenbridge advanced nickel copper project.
Diamond drill hole GZ-09-02 intersected coarse blebby and finely disseminated sulphides from surface to the 90m interval. The mineralization is consistent with that displayed in trenches and outcrop exposures occurring at surface above the hole.
More significantly it also intercepted vein and stringer breccia sulphide bands over a 12m down-hole interval between 41.0m and 53.0m.
Initial examination of the core has identified encouraging widespread magmatic sulphide mineralization associated with breccia zones within a gabbro and pyroxenite intrusion. The geological model bears a resemblance to the Company's Kenbridge nickel-copper deposit. The Kenbridge deposit is also characterized by near-surface, wide-spread disseminated nickel-copper sulphide mineralization suitable for open pit extraction that resolves at depth into narrower, high grade semi-massive lenses and disseminated mineralization suitable for underground extraction.
Kenbridge and Glatz are only two of the 23 recorded nickel-copper sulphide bearing occurrences hosted within the same 220km ring of volcanics and ultramafic intrusives located between Dryden and Kenora, Ontario.
To date two NQ size holes have been logged and sampled for a total of 416m. Core samples have been split and sent out for analyses at an accredited laboratory in accordance with NI 43-101 best practice guidelines. No estimation can be concluded at this time of the extent or true widths of the mineralization. Additional drilling has been allocated to follow up on the mineralization.
Hole GZ-09-02 was drilled on coordinates 26+00N at 45+35E, at an azimuth of 180 degrees and a dip 0f -60 degrees. Hole GZ-09-01 was drilled on coordinates 26+00N and 45+85E at an azimuth of 180 degrees and a dip of -60 degrees. The hole was drilled through the northern intrusive/volcanic contact. Although sulphide mineralization is weak, the presence of variable sulphide, potassic, chloritic and silica alteration are interpreted to be distal vector indicators of a regional mineralization package.
The Glatz Property is the first of six targets to be drilled on the Turtlepond Lake Group of projects. The Turtlepond Lake Group consists of three previously under-explored historic nickel-copper occurrences, (Glatz, Emmons and Prigg), coincident with recently surveyed electromagnetic conductor/magnetic anomalies, and three other newly discovered geophysical targets, North Glatz, Night Danger, and Double E. All targets are clustered within 1.5 km of each other and occur within a few kilometres either side of highway 502.
The exploration program is being carried out under the direction of The Company's Vice President of Exploration, Mr. 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 Mr. 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, 1-877-262-6354