Market Update Presentation
Perth, May 20, 2024 AEST (ABN Newswire) - The Arrow Minerals Ltd (
ASX:AMD) project is along strike and adjoins the giant Simandou iron ore project under development by Winning Consortium/SimFer JV(RIO/Chalco/Bauwu).
At 4.6bt at 65% Fe, Simandou is the world's largest undeveloped high grade iron ore project. High-grade, low-impurity iron ores can support net zero carbon emissions and deliver varieties of Green Steel.
Port, dual-track multi-user rail and mine development spend of USD$27b is well advanced and due for commissioning in 2025. This is the largest mine and infrastructure project on the African continent. The planned rail comes within 20km of the Arrow Minerals' project. Rio Tinto forecast first production in 2025.
The company is well advanced on a tenement wide drilling programme. 5,069 metres drilling completed and on track for 15,000 metres by the end of July. Approximately 40 km strike of the highly prospective Simandou banded iron formation has been mapped on the Arrow tenure.
Multiple drill holes and mapping has confirmed potential for high grade iron (ie DALDDH003, 12 metres at 60.1% Fe) mineralisation on the Arrow tenure.
There are 6 rigs on site now testing Direct Shipping ore (DSO) targets. DSO is an iron ore that can be mined, crushed, screened and blended to a customer specification.
Our vision is to be a highly profitable and substantial supplier of DSO to global markets and delivering substantial benefit to the communities where we operate.
*To view the full Update Presentation, please visit:
https://abnnewswire.net/lnk/54B98SBJ
About Arrow Minerals Ltd
Arrow Minerals Ltd (ASX:AMD) is an exploration and development company focused on delivering long-term shareholder value through the discovery of economic mineral deposits in West Africa. The Company has implemented a systematic science-based exploration philosophy whilst remaining commercially nimble to ensure we capture and retain value.
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