Arrowstar to Drill Alaska Iron Ore Project
VANCOUVER, Sept. 17, 2012 /PRNewswire/ – Robert L. Card, President of Arrowstar
Resources Ltd., (TSXV: AWS), (the “Company”) reports that the Company
is planning to diamond core drill the Snettisham magnetite iron ore
deposit located near Juneau, Alaska this fall. The Company recently
completed a ground magnetic survey of the property and preliminary
results have been reviewed by Phillip Thomas, the Company’s Vice
President of Exploration. Complete results and analysis are still
pending but an initial review has identified three high magnetic
intensity areas over a one kilometer 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 foreshore where significant magnetite outcrop was located in the
June 2012 rock chip survey measured 71,500 nanoTeslas.
The Company has identified five drill hole locations on this large high
magnetic target in addition to two close to the foreshore. The
drilling program is designed to better determine the extent of the
mineralization at depth, the mineralogy, the contact rock and the
magnitude of the resource. With this data, an outline of a mineable
resource will be determined; the Company can then decide the most
commercial approach to mine this large iron structure.
Once the final results of the survey are reviewed, the Company will site
5 to 12 drill holes and then apply for a permit for the drilling
program. The Company expects to start its drill program on the
Snettisham project this fall.
Phillip Thomas, BSc, MBus, MAIG, a Qualified Person under National
Instrument 43-101, has reviewed and approved the content of this
On Behalf of the Board of Directors,
Arrowstar Resources Ltd.
“Robert L. Card”
Robert L. Card
“Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.”
Forward-Looking Statements: This document includes forward-looking statements. Forward-looking
statements include, but are not limited to, statements concerning AWS’s
planned exploration programs and other statements that are not
historical facts. When used in this document, the words such as
“could,” “plan,” “estimate,” “expect,” “intend,” “may,” “potential,”
“should,” and similar expressions are forward-looking statements.
Although AWS believes that its expectations reflected in these forward
looking statements are reasonable, such statements involve risks and
uncertainties and no assurance can be given that actual results will be
consistent with these forward-looking statements. Important factors
that could cause actual results to differ from these forward-looking
statements are disclosed under the heading “Risk Factors” and elsewhere
in the corporation’s periodic filings with Canadian securities
SOURCE Arrowstar Resources Ltd.