Arrow Minerals Ahead of Schedule in Niagara Bauxite Project Drilling Program

Arrow Minerals has announced significant progress in its drilling program at the Niagara bauxite project in Guinea, currently ahead of schedule. The Australian-based company has completed 86 out of a planned 150 drill holes, with the drilling phase now expected to conclude in late November 2024, earlier than initially projected. The first set of results is anticipated in early December 2024.

To date, geological assays conducted on-site have confirmed the presence of residual bauxite, which aligns with the findings from Vale's drilling campaign back in 2007. Previous exploration work included 448 holes drilled by multiple companies, with 180 of these drilled by Vale in 2007, helping to shape the current exploration strategy. The current drilling program has targeted three of these previously identified areas, with the objective of estimating a first Indicated and Inferred Mineral Resource in the first half of 2025.

The Niagara project aims to collect sufficient data through this drilling program to support a scoping study by June 2025. While current exploration levels are insufficient to formally estimate mineral resources, Arrow's aim is to confirm enough bauxite mineralization for Indicated and Inferred classifications.

Bauxite targets have been identified in three key areas, and Arrow has benefited from good drilling penetration rates, reliable equipment, and favorable ground conditions. Managing Director David Flanagan emphasized the benefits of building upon Vale's earlier exploration data: "Vale explored the area as recently as 2007, and their data, while not adequate for resource estimation, has been invaluable for refining our current exploration approach."

The Niagara bauxite project area has been the subject of numerous exploration activities since the 1960s, with mapping, surface sampling, and drilling helping to identify nine potential bauxite targets. The current drilling campaign is focused on three targets located in the southern portion of the property, which is conveniently connected to a double-track multipurpose railroad set to become operational by late 2025.

Geological logging so far has confirmed the presence of residual bauxite, consistent with the genetic model of lateritic plateau bauxite common in Guinea. Drill testing has indicated the presence of bauxite, iron-bearing bauxite, laterite, and basement clay. Specific textures, such as mud and tufa, have been found in the bauxite, which are considered significant as they point towards chemical re-precipitation and alumina residue enrichment.

As of early November 2024, samples from the first 43 holes, covering 504 meters of drilling, have been prepared and shipped to the ALS Global Analytical Laboratory in Ireland for chemical analysis. Results from these samples are expected by early December 2024, with further results from the remaining 107 holes to follow by late December 2024. Arrow plans to report the findings according to the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves.

Arrow remains optimistic but cautious, noting that geological indications alone do not guarantee economic significance without chemical validation. As stated by the company, chemical analysis is needed to confirm the economic potential of the mineralization observed during drilling.