Arrow Minerals Extends Known Niagara Bauxite Mineralisation
THE DRILL SERGEANT: Arrow Minerals (ASX: AMD) reported assays from a maiden drilling program recently conducted on the company’s Niagara bauxite project in Guinea.
Arrow Minerals delivered the second batch of results its first drilling at the Niagara bauxite project, which it reported to have defined high-grade bauxite to over five kilometres cumulative strike within trucking distance of a multi-user railway.
Results from the latest batch of assays include:
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7 metres at 49.4 per cent aluminium oxide (Al2O3), 0.7 per cent silicon dioxide (SiO2) from surface;
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6m at 48.3 per cent Al2O3, 2.6 per cent SiO2 from surface;
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6m at 45.7 per cent Al2O3, 1 per cent SiO2 from surface;
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5m at 49.5 per cent Al2O3, 3 per cent SiO2 from surface;
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8m at 43.3 per cent Al2O3, 3.3 per cent SiO2 from 6m; and
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3m at 45.5 per cent Al2O3, 2 per cent SiO2 from 3m.
Arrow indicated it still has assays from another 90 holes pending.
“These are more strong results which have delineated three broad zones of mineralisation from surface over a combined 5km strike length within trucking distance of a multi-user railway at a time of record alumina and bauxite prices,” Arrow Minerals managing director David Flanagan said in the company’s ASX announcement.
“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 consumption and at 45% Al2O3 and 3% SiO2 is currently approaching US$100/t CIF China.
“Arrow is focused on achieving its goal to be a low-capital, highly profitable mining operation that will serve as a platform for future growth.
“We are very excited about our drilling results and look forward to receiving more over the coming weeks, with the goal of estimating resources to form the basis for our planned Scoping Study to follow in the first half of 2025.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE