Exploration Target Estimate for Niagara Bauxite Project
Perth, Aug 7, 2024 AEST (ABN Newswire) - Arrow Minerals Limited (
ASX:AMD) is pleased to report an Exploration Target estimate for the Niagara Bauxite Project of approximately 170 - 340Mt at a grade range of approximately 40 - 46 % Al2O3, and 1 - 4 % SiO2. 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.
The Exploration Target is estimated on the basis of:
- The mapped presence of host rocks (Mesozoic mafic intrusives) considered favourable for the formation of bauxite;
- The presence of geomorphological features (plateaux) with characteristics considered favourable for the development of bauxite from the Mesozoic intrusives;
- The summary results from several campaigns of historic work on the area that identified bauxite accumulations that were considered significant enough at the time of works to conduct estimates, albeit foreign and now historic; and
- The Company's planned exploration program for 2024 to 2025.
Mr David Flanagan, Managing Director said:
"Since this project was last drilled by Vale in 2007, there have been some very encouraging developments; global demand for bauxite has more than doubled from ~210Mtpa to ~440Mtpa, we've seen continued strength in bauxite pricing ~US$75/t Cost and Freight, and importantly, a multi-user railway is about to arrive, due for commissioning from late 2025."
"The Niagara Bauxite Project is an advanced exploration project which has had the benefit of sustained exploration for more than 50 years and it fits our strategy perfectly. We are completely dedicated to building a pipeline of future facing, scalable and capital light development opportunities near to multi-user infrastructure.
Arrow plans to complete resource drilling and scoping studies in parallel within 12 months. This will utilise our existing team and specialist consultants where required, and we look forward to keeping the market informed as results come to hand."
"There are strong synergies available between the Niagara Bauxite Project and the Simandou North Iron Project; relating initially to the exploration and development study teams working collaboratively in areas such as mine permitting, government and community relations, metallurgy and product marketing, ongoing resource drilling and estimation as well as ongoing mining and infrastructure studies. In time we hope this will expand to economies of scale normally only available to larger bulks mining companies."
Arrow recently entered into an agreement with an option to acquire the Niagara Bauxite Project as part of a strategy to build a "bulks" business within trucking distance of the Simandou multi-user railway (see ASX Announcement dated 1 August 2024 entitled "Arrow Expands Bulks Presence with Major Bauxite Transaction" for further details).
In addition to hosting the world's largest high grade undeveloped iron ore deposit, Guinea also has the world's largest reserves of high quality bauxite.
The Niagara Bauxite Project is located in the heart of the world's premier bauxite province and the Company will look to take full advantage of all the recent developments together with the improving demand outlook for aluminium to advance the Project as quickly as possible.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/U381AS9W
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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