Arrow Minerals Limited announced the confirmation of high-grade iron (>64%) analytical results from rock chip samples collected on the Simandou North Iron Project, Guinea.
Twenty-one (21) significant analytical results were reported by ALS Global from the 110 rock chip samples submitted for analysis, returning iron assays of greater than 58%,
including nine (9) samples with greater than 64% Fe. These rock chip samples were collected as part of Arrow's first pass geological mapping and geochemical sampling program. This exploration program specifically targeted zones of outcropping iron formations extending over >40km. Arrow's Guinea team is now in the field conducting detailed geological mapping and infill geochemical sampling over the southern two target zones. Results from this work will assist Arrow with the placement of the initial drill holes to test the depth and extent
of the high-grade iron zones within the target areas. Arrow anticipates commencing its maiden drilling program at the Simandou North Iron Project (AMD 33.3%) in April. The drilling program will contribute towards Arrow earning a 60.5% controlling interest in the project. Details of the drill program and commencement of drilling will be announced in due
course. A total of 110 rock ship samples were collected as part of a regional geological mapping and geochemical sampling program over the exposed iron formation identified within the Simandou North Iron Project area. These samples were dispatched to ALS Global in Bamako, Mali, for sample preparation prior to being analyzed at the ALS Global laboratories in Johannesburg, South Africa. Analytical results from this geochemical program, demonstrate the presence of high-grade iron bearing lithologies, >64% Fe with low silica, <3.0% SiO2 and low phosphorus, <0.1% P. The grades reported by Arrow are comparable to those reported by Rio Tinto Simfer (Simfer) the 2.8 billion ton Measured, Indicated and Inferred Resource (65.8% Fe, 1.2% SiO2, 0.08% P1) for its Simandou deposits located approximately 80km south of the Simandou North Iron Project. The majority of the high-grade results were collected over the two southern coincident geophysical and geological anomalies covering an area in excess of 10km in length and up to 2km wide. Work is now underway to better define the distribution of the surface high grade mineralisation prior to the commencement of Arrow's maiden drill program which will test the subsurface extent and depth of the high-grade iron bearing lithologies. The Simandou North Iron Project lies at the northern end of the Simandou Range, host to the undeveloped high-grade iron deposits in the world, including WCS's Block 1 & 2 with a reported measured, indicated and inferred mineral resource of 1.8 billion tonnes at 65.4% Fe and Simfer's Simandou Project Block 3 & 4 with a total measured, indicated and inferred mineral resource estimate of 2.8 billion tonnes grading 65.8% Fe. High priority areas have been identified within Arrow's Simandou North Iron Project area, each between 5km and 7km in strike length. These priority areas demonstrate modelled geophysical responses consistent with those expected for significant haematite development and enrichment within the iron bearing lithologies. This has been supported by the analytical results discussed in this release and Arrow's ongoing exploration program including the upcoming maiden drilling program. Field work is underway to support this goal. The Government of Guinea, Simfer and WCS created La Compagnie du TransGuineen (CTG), a JV company to co-develop the megaproject requiring the construction of the 670km "TransGuinean" railway, extending from the Simandou Ranges to Forécariah on the coast where the deep-water port and ship loading infrastructure will be built at Morebaya. This USD 15 billion major capital investment is set to deliver shared purpose infrastructure to the area, with the Government targeting completion by December 2024, enabling commercial production from mines in the area by 2025.