Arrow Minerals substantial shareholder doubles stake, West Africa drilling continues
Arrow recently confirmed a significant near-surface gold discovery at the Divole West Gold Project in Burkina Faso.
Company
ASX:AMD
Arrow Minerals Limited is an exploration and development company focused on delivering long-term shareholder value through the discovery of economic mineral deposits. 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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Arrow recently confirmed a significant near-surface gold discovery at the Divole West Gold Project in Burkina Faso.
Arrow is well funded to complete this drilling phase and additional follow-up drilling to better understand the Divole West gold discovery.
The company’s securities will remain in trading halt until December 20 or when an announcement is released to the market.
The company recently acquired Boromo Gold Limited, which owns six high- quality gold exploration projects in Burkina Faso.
The 33-hole RC drill program will commence in the coming weeks targeting gold anomalies, weather permitting.
Independence Group has reached 90% ownership of Arrow's Plumridge Nickel Project in the Fraser Range after further exploration.
Drilling tested three targets including a gold-bearing porphyry unit which remains open in all directions.
Arrow is advancing gold assets in Western Australia and Burkina Faso in West Africa.
Acquisition adds six projects with drill targets identified at multiple projects with the potential for significant gold discoveries.
Funds will be spent on exploration programs at the newly acquired Burkino Faso gold projects as well as the Strickland Gold Project in Western Australia.
Burkina Faso is the fourth-largest gold producer in Africa and has a known gold endowment of over 60 million ounces.
$2 million placement completed to fund exploration in Burkina Faso and Western Australia.
The company’s securities will remain in a trading halt until Wednesday, June 26, or until an announcement is made.
The joint venture partner has spent $5 million on Plumridge exploration in just 17 months.
Helsinki is a large, high-priority target situated along a major fault.
The nickel-copper-zinc targets have been identified using a combination of electromagnetic surveys as well as first pass aircore drilling.
The Helsinki prospect is formerly known as T11 and is the highest priority undrilled target.
Recently acquired detailed aeromagnetic and ground gravity data will be used to further define prospective areas.
The Plumridge project in WA is a joint venture with Independence Group (ASX:IGO).
The company is focused on the Strickland Gold Project and Plumridge Nickel Project.