Arrow Minerals Ltd (AMD.AX) Bauxite Resource Drilling Imminent
Arrow Minerals Limited (ASX:AMD) is pleased to advise that its maiden drilling program is about to start at the Niagara Bauxite Project in Guinea.
Key Points
- Arrow's maiden bauxite exploration program at Niagara is about to start; This will comprise drilling, bulk sampling, and associated metallurgical test work with the aim of estimating Indicated and Inferred Mineral Resources, followed by a Scoping Study in H1 2025.
- Work will initially focus on testing 3 of a total of 9 targets, selected for their accessibility, proximity to the rail corridor, and lower cost startup potential.
- Past exploration will help inform this drilling, including 448 drill holes completed in multiple campaigns by various companies including Vale in 2007.
- Arrow will complete approximately 150 drill holes spaced at 600m by 600m closing to 300m by 300m for a total of approximately 2,000m.
- Up to 10 bulk samples will be collected to gain early understanding of value-in-use characteristics of Niagara bauxite products to potential alumina refinery customers.
- Field crews have arrived on site to conduct preparatory works; Drilling is due to commence in the third week of October 2024.
There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The drilling, shown in Figure 1*, will focus on areas where previous exploration by companies, including Vale, has established the presence of extensive bauxite mineralisation at or near the surface. The drill program is expected to be completed within 4 to 6 weeks, with first assay results beginning to arrive later in the quarter. Arrow anticipates that all drilling and all chemical analyses will be completed during 2024, providing data to inform the estimation of a maiden Mineral Resource, followed by a scoping study in the first half of 2025.
Field work is already underway, including engagement with local and regional government authorities, introducing and describing Arrow's future activities to host communities, and collecting various baseline environmental information.
Arrow has previously reported an Exploration Target for the Niagara Bauxite Project of approximately 170 - 340Mt at a grade range of approximately 40 - 46 % Al2O3, and 1 - 4 % SiO2 (see ASX release dated 7 August 2024). Cautionary Statement: The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Resource.
Arrow Managing Director David Flanagan said: "We already know that there is extensive Bauxite mineralisation at Niagara but previous explorers did not follow it up, mainly due to low bauxite prices and the absence of rail and port infrastructure."
"Since that time the bauxite market has seen a significant improvement. With the recognition of the importance of aluminium as the ultimate future facing metal, global supply has tightened, demand has increased substantially and the bauxite price is rising. We also see the delivery of the massive multi-user trans Guinean railway and Morebaya port infrastructure in 2025 as a huge opportunity for Niagara."
"Our drilling program will target these highly prospective areas at drill spacings considered appropriate to inform the estimation of Indicated and Inferred Mineral Resources sufficient to comply with reporting requirements for scoping studies."
"These are just the first 3 targets, they have a cumulative strike length of 20 kilometres and as you can see we are going to be drilling a lot of holes. I am excited about their potential and look forward to receiving the initial results back from the lab later in the quarter".
Consultants
Arrow has appointed social and environmental consultants Ozone Guinee (Ozone) to provide independent services, ensuring the Company and its contractors and consultants conduct field work in compliance with all aspects of Guinean environmental law and regulation. At the time of preparation of this announcement, Ozone consultants are on site conducting a comprehensive work program of government and community engagement, as well as the collection of environmental baseline data.
The Company has also appointed highly experienced resource consultancy firm SRK Consulting (UK) Ltd to advise on the work program and complete the estimation of Mineral Resources ahead of economic studies. The intention is that this work will lead to the estimation of sufficient Mineral Resources at sufficient levels of estimation confidence (Indicated and Inferred) to inform an ASX compliant Scoping Study.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/LK1CK55E
Arrow Minerals Ltd E: info@arrowminerals.com.au WWW: www.arrowminerals.com.au
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