Arrow Minerals Ltd (ASX:AMD) has identified the presence of a gold target through geochemical soil sampling at Kordie Prospect of the Vranso Project in Burkina Faso and will undertake further work to determine the extent of the anomaly.
The company has been systematically exploring the greenstone structures in the northern section of Vranso, using broad spaced soil sampling to determine areas of interest for further exploration.
Soil sampling results
Data from geochemical sampling has been interpreted to confirm the presence of in situ gold anomalism, with the main southern zone extending 2 kilometres toward the northeast and a second lower-level anomaly extending about 5 kilometres in a north-south direction.
The soil over these anomalisms has produced small traces of gold, 80 parts per billion (ppb) for the southern zone and 20ppb for the lower-level anomaly.
Arrow believes these results further demonstrate the potential for the Kordie Prospect to host an extensive gold mineralised system, and will now follow up with infill and extensional soil sampling.
About Arrow Minerals
Arrow Minerals is a Western Australian mineral exploration company, targeting gold, lithium and nickel.
The company is aiming to advance a portfolio of exploration projects to economic discoveries within a short space of time.
Its projects in Burkina Faso and Western Australia provide exposure to exploration potential in two of the most prospective geological environments in the world.
Arrow Minerals Ltd (ASX:AMD) will receive $500,000 cash following the sale of a 90% interest in the Malinda Lithium Project in Western Australia after renegotiating commercial terms with Electrostate Pty Ltd.
Under the new agreement, Arrow will retain a 10% non-diluting free-carried interest to a decision to mine.
West African gold focus
The company plans to channel the proceeds of the sale of its lithium interest into advancing West African gold opportunities.
Managing director Hugh Bresser said: “This new agreement provides a win-win outcome for shareholders of both companies.
“Arrow receives a cash injection that allows the company to advance its West African assets while retaining significant exposure to the Malinda Lithium Project through its free-carried interest.”
The new agreement supersedes a previously announced arrangement between Arrow and Electrostate in August 2021.
Read: Arrow Minerals Ltd inks earn-in agreement to advance non-core Malinda Lithium Project
About Malinda Project
The Malinda Lithium Project extends over an area with pegmatites and associated minerals in the Gascoyne Province of the Capricorn Orogen.
Historical workings have recorded the presence of highly anomalous lithium and tantalum.
Arrow has previously completed geochemical, geophysical, hyperspectral surveys and limited drilling on the tenements.
This activity uncovered:
- 23 metres at 0.98% lithium oxide;
- 2 metres at 1.71% lithium oxide; and
- 11 metres at 323 parts per million tantalum pentoxide.
Arrow Minerals Ltd (ASX:AMD) has discovered five new anomalous gold targets from detailed geochemical surveying over the 10-kiometre Sanguie-Semapoun structural corridor of the Vranso Project in Burkina Faso.
The anomalies were further confirmed with historical soil samples provided by joint venture partner Trevali Mining Corp (TSX:TV), and are believed to be sub-parallel systems, each hosted over more than 2 kilometres of strike.
Further geochemical exploration
The gold anomalous geochemical corridor remains open to the north and south, prompting Arrow to expand its soil sampling program to assess outcrops and areas with shallow coverage for further mineralisation.
Coupled with available regional auger geochemistry information, the company intends to create a comprehensive geochemical map of the prospective Paleoproterozoic Birimian Greenstones within the Vranso Project area.
With the new data, Arrow will advance its drill target development and hopefully delineate further gold anomalies for testing.
About Arrow Minerals
Arrow Minerals is a West African gold exploration company with a principal focus on Burkina Faso, Africa’s fastest emerging gold producing country.
The company is rapidly progressing a portfolio of high-quality exploration projects with a record of recent discoveries made within a short space of time.
Arrow applies three critical components to exploration success; a capable and experienced team, high-quality projects, and aggressive modern systematic exploration techniques.
Arrow Minerals Ltd (ASX:AMD) has completed a corporate restructure as part of its established succession plan.
Howard Golden has stepped down from his role as managing director and from the Arrow Minerals' Board of Directors to make way for technical director Hugh Bresser.
Golden will stay on in a business development role until May 30, 2022, at which point he will move away from the company to pursue other professional and personal interests.
Bresser, who has been Arrow’s technical director since July 5, 2021, will assume the position of managing director effective from March 1, 2022, with the term to end on June 30, 2025.
Growth phase of discovery
“On behalf of my fellow directors I would like to sincerely thank Howard for his outstanding contribution to Arrow Minerals over the past three years,” Arrow chairman Frazer Tabeart said.
“During his tenure Howard led Arrow through the consolidation of a significant land position in Burkina Faso and advanced the resulting gold exploration programs.
"Howard is leaving the company in good standing with a strong portfolio and a roadmap to discovery of an economic gold resource. We wish him all the best in his future endeavours.
“I congratulate Mr Bresser and have great confidence in Hugh’s ability to steer the company through the next important growth phase of discovery and resource development.
"We are pleased that Hugh has agreed to terms under which a significant proportion of his remuneration will be success-based, with targets which will be specifically aligned to tangible growth and shareholder value.”