Latest high-grade bauxite assays extend known Niagara mineralisation to 5 km2
High Grade Bauxite Now at Over 5 Square Kilometres
Perth, Dec 9, 2024 AEST (ABN Newswire) - Arrow Minerals Limited (
ASX:AMD) is pleased to report further outstanding assays from its maiden drilling program at the Niagara Bauxite Project in Guinea. The project is located within trucking distance (~100km) of the multi-user Trans-Guinean Railway (refer Figure 1*).
The Niagara discovery is rapidly developing genuine scale and achieving high grade within trucking distance of the multi-user railway; Results from 111 holes pending.
Highlights
- Latest assays from 30 holes include;
o BS000096, 4 metres at 50.3% Al2O3, 3.1% SiO2 from surface
o BS000072, 4 metres at 46.6% Al2O3, 0.7% SiO2 from 1 metre
o BS000076, 6 metres at 47.1% Al2O3, 2.3% SiO2 from surface
o BS000075, 15 metres at 43.1% Al2O3, 3.7% SiO2 from surface
o BS000086, 3 metres at 50.1% Al2O3, 4.4% SiO2 from surface
o BS000090, 7 metres at 43.8% Al2O3, 4.1% SiO2 from surface
o BS000094, 3 metres at 48.8% Al2O3, 3.3% SiO2 from surface
o BS000097, 2 metres at 54.6% Al2O3, 2.2% SiO2 from surface
- Results from the first three batches totalling 73 holes confirm continuous high grade bauxite over 5km2
- Results from a further 111 holes testing additional extensions are due in coming weeks
- Guinea is the world's largest producer of bauxite, typically attracting a premium for high grade and low silica content
- Following the drilling of 180 holes (on 800 by 800 metres spacings) by Vale in 2007, Arrow has defined nine priority bauxite exploration target areas; The 5km2 area comprises three of these targets
- Discussions with potential bauxite customers are ongoing, generating significant interest at a time of record high bauxite prices of $US90-100/t CFR China
Arrow has already completed first pass baseline environmental studies, community engagement, and commenced recruitment of people from local communities to support the current operations.
Managing Director, David Flanagan, said: "These latest outstanding results confirm that Niagara is a substantial bauxite discovery with high-grade mineralisation already outlined over 5km2, with results from another 111 holes offering potential to grow the discovery further."
"This is all within trucking distance of a multi-user railway at a time of record alumina and bauxite prices."
"Guinea is the world's largest and most important supplier of high-quality bauxite. These results are comfortably in line with the product that has made Guinea the world's number one bauxite producer."
"Guinea bauxite is in high demand, contributing approximately 30% of global supply with a premium product specification at 45% Al2O3 and 3% SiO2 attracting prices that are currently at all-time record highs, of circa US$100/t CIF China."
"Coupled with the broad expanse of bauxite prospective lithologies intersected in drilling and our proximity to the multi-user Trans-Guinean railway, the Niagara Bauxite Project presents an excellent opportunity to create value for shareholders, generate jobs in local communities, and position Arrow to achieve its goal of establishing itself as a new independent, highly profitable supplier of high quality bauxite."
"With SRK's site visit due for January 2025, we aim to estimate a maiden Mineral Resource to form the basis for our planned Scoping Study to follow in the first half of 2025."
Niagara Bauxite Project and Bauxite Background
Arrow is exploring the Niagara Bauxite Project with the benefit of work done on this project by various mining companies from the 1960's, including geology and assays from 180 holes drilled by Vale in 2007. This announcement includes results for 30 drill holes on 300 by 300 metre spacings, completed and assayed as part of a program of 184 holes targeting high grade mineralisation intercepted in historical drilling.
With the guidance of Independent Resource Consultants, SRK Consulting (UK) Ltd (SRK), the Company has designed the current program with the intention of delivering sufficient indicated and inferred resources required to underpin a scoping study. Drilling includes twinning previous Vale holes, a programme of shallow pitting in areas of mineralisation as well as all the required quality control sampling and value in use ore characterisation studies required to comply with modern resource reporting standards.
A typical commercially viable Guinea plateau bauxite deposit is flat with a thickness that varies from 1 to 10 metres, on average, will have 44 to 46% alumina and silica levels typically averaging 3%.
Mineralisation is typically thickest along the edges of plateaus coincidence with subtle changes in gradient of 1 to 3 degrees, where meteoric waters, over geological time have enhanced grade and removed deleterious elements.
The application of surface miners to bauxite mining is now common throughout the industry, negating the need for drill and blast, and crushing and screening. The ability to excavate consolidated material (i.e. no drill and blast) and mine a minimum mining thickness of approximately 300mm using high precision GPS machine guidance makes the surface miner well suited to plateau bauxite mining in Guinea. The Company has visited bauxite mining operations, inspected various mining equipment and met with several contractors with current operating experience in bauxite mines in Guinea. The information collected during these visits, combined with the results from the current drilling campaign, allows the Company to start to define important operating parameters that will ultimately be fed into a planned Scoping Study subject to the estimation of sufficient Mineral Resources.
Arrow has also commenced and completed preliminary baseline social and environmental impact studies. The Company remains committed to progressing this work and continuing to engage with all relevant stakeholders through the permitting processes to conclude them in a timely manner. No impediments to exploration or mining have been identified and the Company has established productive relationships with key community and government stakeholders.
To view the full release, please visit:
https://abnnewswire.net/lnk/790KCT9V
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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