Arrow Minerals Ltd (ASX:AMD) has been granted a trading halt by the ASX with news pending in respect of consideration and execution of a binding term sheet relating to an exploration joint venture in Burkina Faso.
The securities will remain halted until earlier of the start of normal ASX trading on Monday, March 1, 2021, or when an announcement is released to the market.
RC drilling at Dassa discovery
Recently, the company started a 3,100-metre reverse circulation (RC) drilling program at Dassa gold discovery on the Divole West exploration permit in Burkina Faso, West Africa.
The drilling aims to confirm the continuity of gold mineralisation between existing widely-spaced drilling profiles as well as to extend the known mineralisation from the previous RC drilling.
Infill and extensional drilling
To date, Arrow has completed 8,669 metres of RC drilling on Divole West, which resulted in the discovery of continuous gold mineralisation in two zones at Dassa.
This program is focused on the principal northern Dassa zone that extends for more than 500 metres along strike and is open to the north, south and down-dip.
Managing director Howard Golden said: “Arrow will be looking to better define the second gold zone to the south as well as define other gold-bearing targets on the exploration permit to the north and south along strike.”