Arrow Minerals Limited (ASX: AMD) Confirms Bauxite Discovery
Bauxite Discovery Confirmed
Arrow Minerals Limited (ASX: AMD) has announced significant assay results from its first drilling at the Niagara Bauxite Project in Guinea. High-grade intercepts indicate the presence of bauxite mineralisation over a strike length of 2 kilometres, all within trucking distance from the multi-user Trans-Guinean Railway.
Key results from 11 drill holes include:
– BS000028: 7 metres at 47.1% Al2O3 and 2.9% SiO2 from surface
– BS000032: 10 metres at 46.6% Al2O3 and 7.9% SiO2 from surface
– BS000025: 4 metres at 48.8% Al2O3 and 1.8% SiO2 from surface
Drilling continues with an additional 160 holes expected to yield results by late November and into December. Alpha is optimistic due to the high-quality grades intercepted and a thickness averaging between 4 to 10 metres, deeming these results extremely encouraging in light of current high prices for alumina and bauxite.
Future Outlook
Managing Director David Flanagan expressed optimism about the project’s potential, stating, “These results demonstrate broad zones of high-grade mineralisation from surface. Together with our proximity to critical infrastructure, they present an excellent opportunity to create shareholder value.” The company has commenced discussions with potential bauxite customers and is in the midst of community engagement and environmental studies to support exploration operations.
Arrow’s exploration history includes work from numerous respects, notably drilling conducted by Vale in 2007 which helped identify nine additional exploration targets. Furthermore, Arrow Minerals is making preparations for a Scoping Study concerning the economical viability of the project, to be completed in the first half of 2025.
Community and Environmental Commitment
Arrow has initiated baseline environmental studies and community engagement activities in support of their exploration efforts. These commitments underscore their aim to sustainably develop the Niagara Bauxite Project and contribute positively to local communities.
Arrow Minerals Limited continues to position itself as a significant player in the bauxite sector of Guinea, with ongoing drilling and exploration to validate this high potential asset.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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