Arrow has five hematite targets ready for testing at Simandou North
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Arrow is setting a blistering pace at its Simandou North iron project in Guinea with the identification of five high-priority, near-surface target zones.
The target areas, each of which have strike lengths of between 5km and 7km, demonstrate modelled responses consistent with areas that have high potential for significant haematite development within the iron bearing lithologies.
Hematite is prized by iron ore explorers as it is higher grade in the ground compared to the other major type of iron ore – magnetite.
It comes just days after Arrow Minerals (ASX:AMD) completed first pass reconnaissance geological mapping which highlighted the presence of the full Simandou Range stratigraphic sequence previously detailed by Rio Tinto back in 2005.
“It is extremely exciting to see these modelling results in combination with the recent field geology highlighting the potential of the Simandou North area,” managing director Hugh Bresser said.
“This includes 7km long near surface geophysical anomalies modelled coincident with mapped iron bearing lithological units. All this in an area where infrastructural developments are underway.”
The new targets were identified using a combination of magnetic vector inversion and geologically based VPmg magnetic modelling and inversion to identify shallow target zones within the broader lithological units that have high potential for significant haematite development and enrichment.
Results from both techniques compare favourably with each other and the surface geological mapping conducted by the company.
Modelling indicates that these zones occur from surface to at least 100m depth, providing Arrow with high quality drill targets.
It is now using the new geophysical information with its recent field geological mapping data, to develop a phase one drill program, which could begin this quarter, to test the high priority targets for high grade iron rich zones.
This program will contribute towards Arrow earning rights to a 60.5% controlling interest in the project, up from the current 33%.
This article was developed in collaboration with Arrow Minerals (ASX:AMD), a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.