The Prospector News

Arrowstar Receives Approval for Drilling Program

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Arrowstar Receives Approval for Drilling Program







Robert L. Card, President of Arrowstar Resources Ltd. (TSXV: AWS), is pleased to report that the U.S. Bureau of Land Management has issued a Bond request of $68,100 for a proposed drilling program at the Company’s Snettisham Iron Ore project.  Arrowstar anticipates the drilling permit will be issued by the Department of Mineral Resources following posting of the bond.



Once the drilling permit is received, the Company can proceed with developing its next phase of the Snettisham Iron Ore project.  The drilling permit covers a proposed 3,000 meters of drilling comprised of nine holes ranging in depth from 200 to 500 metres. Initial review has identified three high magnetic intensity areas over a 750 metre distance with the largest area having a magnetic intensity greater than 78,000 nanoTeslas over an ellipsoidal surface area of approximately 750 metres by 750 metres.



The drilling program was designed by Phillip Thomas, VP of Exploration, based on historical drilling done on the property by the Bureau of Mines and Marcona Corporation.  The purpose of the drill program is to determine the extent of the mineralization at depth, the mineralogy and petrology, the contact rock and the magnitude of the mineralization. With this data, a NI 43-101 Report will be prepared to report on the drilling results and the extent of the mineralization. The drilling program is budgeted at $1.2 million.



In anticipation of favorable results, the Company plans a Phase 2 program of an additional 5,000 – 7,000 meters in 11-15 holes to further delineate the parameters of the iron formation and determine a measured resource estimate.



The Snettisham Iron Ore project was historically explored by the Bureau of Mines in 1955 and Marcona Corporation in 1969.   Marcona conducted sufficient drilling to complete a feasibility study on the deposit and announced plans to put the property into production in partnership with Marubeni of Japan.  Marcona’s plans in 1970 called for production of 5 million tonnes of pellets  per year over a mine life of 50 years.  The decline of iron ore prices in the early 1970’s caused the project to be delayed and eventually abandoned.  Arrowstar believes the deposit remains extremely well located and of large size to make it economic in todays iron ore market.  The property is also located on Tidewater on the Pacific Ocean and would serve the Asian Iron Ore Trade.  The property will be suitable for direct loading of sea vessels from the property, therefore requiring no roads or rail lines to be built.  The Juneau Hydro Electric Power line is located within 2 miles of the property.



Posted September 27, 2013

Share this news article


Northern Vertex Reports Record Quarterly Production, Revenue and Adjusted EBITDA

Northern Vertex Mining Corp. (TSX: NEE) is pleased to announce re... READ MORE

November 27, 2020

Yorbeau Closes Non-Brokered Private Placement

Yorbeau Resources Inc. (TSX: YRB) is pleased to announce that it ... READ MORE

November 27, 2020

Talisker Intersects 995 g/t Gold Over 0.5 Metres within 227.55 g/t Gold Over 2.25 Metres at the Bralorne Gold Project

Talisker Resources Ltd. (TSX: TSK) (OTCQX: TSKFF) is pleased to a... READ MORE

November 26, 2020

Copper Mountain Closes C$17.25 Million Bought Deal Offering of Common Shares

Copper Mountain Mining Corporation (TSX: CMMC) (ASX: C6C) i... READ MORE

November 26, 2020

Surge Copper Drills 0.72% Copper Equivalent Over 176.1 Metres At Ootsa Including 0.89% Copper Equivalent Over 126 Metres

Surge Copper Corp. (TSX-V: SURG), is pleased to announce assay re... READ MORE

November 26, 2020

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions