Latest news with #NorthArrowMineralsInc
Yahoo
21-05-2025
- Business
- Yahoo
NORTH ARROW STARTS REVERSE-CIRCULATION DRILL SAMPLING PROGRAM AT KRAAIPAN GOLD PROJECT, BOTSWANA
BEDROCK SAMPLING INCLUDES ELEVEN SAMPLES RETURNING FROM 1.2 TO 10.1 g/t GOLD Trading Symbol - TSXV: NAR VANCOUVER, BC, May 21, 2025 /CNW/ - North Arrow Minerals Inc. (TSXV: NAR) ("North Arrow" or the "Company") is pleased announce the start of a three-month, reverse-circulation (RC) drill sampling program at the Kraaipan Gold Project, Botswana. The Kraaipan Project comprises a large land package covering 724 km2 of mostly underexplored, Archean greenstone terrain, referred to as the Kraaipan Greenstone Belt ("KGB"). The KGB straddles the Botswana – South Africa border and is prospective for the discovery of both gold and base metal deposits. In Botswana, the KGB has undergone limited historical exploration owing to a generally thin (<40m) overburden cover of Kalahari sands and gravels that hinder the effectiveness of traditional exploration approaches. The South African portion of the KGB is better exposed and explored and is host to numerous mineral occurrences including Harmony Gold's multi-million-ounce Kalgold mine, which has operated continuously since the late-1990's and is located approximately 40 km south of the Kraaipan Project. Key Highlights: Three-month RC drilling campaign comprising up to 220 RC holes has commenced – designed to collect regional base of Kalahari overburden samples and test approximately 16 priority bedrock targets. High resolution magnetic surveying using proprietary, UAV Remote Mapper system has completed property wide surveys contributing to an updated, detailed geological and structural interpretation in support of priority drill target selection. Structural and bedrock mapping and sampling undertaken on outcrop exposures in the southern part of the belt confirms gold endowment: 22 of 89 bedrock samples (~25%) collected from rare outcrop exposures in the southern part of the Project returned anomalous gold values greater than 0.1 g/t gold, including 11 samples returning greater than 1 g/t gold including six samples greater than 4 g/t gold, with a highest assay of 10.1 g/t gold. Eira Thomas, President and CEO of North Arrow, stated, "The start of RC drill sampling is an important step in North Arrow's approach to rapidly evaluate the gold potential of the Kraaipan Project beneath the Kalahari sand cover. In a short period of time, together with our partner Rockman Resources, we have cost-effectively completed very high-resolution Remote Mapper magnetic surveys of prospective banded iron formation (BIF) units within the project area as well as detailed structural mapping and bedrock sampling of limited BIF outcrop exposures in the southern part of the Project. Eleven of the bedrock samples have returned anomalous gold values between 1.2 and 10.1 g/t, confirming that BIF units within the Kraaipan Project are capable of hosting gold mineralization and supporting our exploration thesis that adjacent, structurally complex areas beneath Kalahari cover, represent prospective gold exploration targets." Ms. Thomas continued, "The current drill sampling program is using a newly optimized RC drilling platform (see below), designed to minimize the time spent handling materials and moving between holes, allowing for rapid drilling to collect the base of Kalahari and bedrock samples. A revised structural interpretation of the KGB has been developed based on interpretations of the Remote Mapper and structural mapping survey data, and, combined with the new and historic geochemical datasets, used to identify over 16 target areas that will be drilled and sampled over the three-month program." Remote Mapper magnetic surveys – The Remote Mapper UAV system has completed collection of high-quality magnetic data over interpreted iron formation horizons within the Kraaipan Project area. Surveys were conducted at 25m line spacing and 30m height above surface, and final data was used in identifying RC drill target areas displaying structural complexity and disruption of BIF units. Structural and bedrock mapping – A series of BIF outcrops in the southern part of the project area were mapped earlier in 2025 to help correlate areas of structural and stratigraphic complexity and alteration with the new Remote Mapper data. To aid in these interpretations, 89 outcrop samples were also collected, intended to test areas with varying intensities of alteration and sulphide mineralization, as well as structures and features not expected to have gold mineralization but that may be encountered in the RC drill sampling program. Results of 2025 samples have been encouraging, with 25% (22 samples) returning anomalous gold values greater than 0.1 g/t gold, including 11 samples returning greater than 1 g/t gold and six samples greater than 4 g/t gold. The highest grade sample returned 10.1 g/t gold. The prospecting sample results confirm that BIF units within the Kraaipan Project area locally host gold mineralization and support the concept that adjacent areas beneath Kalahari cover, and having interpreted structural complexity, represent prospective gold exploration targets. RC drilling program – A three-month RC drilling program is underway and is intended to test at least sixteen target areas identified on the basis of Remote Mapper magnetic and structural mapping surveys, as well as current and historic geochemical information, where available. Five of the selected targets in the southern part of the project area are supported geochemically with at least one local sample of adjacent BIF bedrock returning greater that 1 g/t Au in samples collected in 2025. The majority of holes are planned to be drilled vertically through Kalahari overburden into bedrock. Drill hole locations have been selected to test key portions of identified structures, with samples collected from the base of Kalahari overburden and bedrock. Drilling rates will depend on the depth and character of the overburden encountered but, based on previous drilling experience, 180 to 220 holes are planned. The goal of the RC sampling program is to identify gold showings for follow up bedrock RC and diamond (core) drilling in the second half of 2025 and in 2026. About the Kraaipan Gold Project, Botswana The Kraaipan Gold Project is comprised of three mineral concessions covering the 60 km strike extent of the Kraaipan Greenstone Belt in Botswana. The KGB is a highly prospective Archean greenstone belt that straddles the Botswana - South Africa border, with proven mineral endowment including Harmony Gold's multi-million-ounce Kalgold mine in South Africa, approximately 40 km south of the Project. Past exploration of the northern extent of the KGB has been challenged by the presence of Kalahari overburden, impacting approximately 80% of the KGB within Botswana. The Kalahari overburden comprises unconsolidated sand as well as gravel, silcrete, calcrete and minor clay-rich horizons. While laterally extensive, this cover material is typically less than 20m over much of the Project but can locally reach depths of up to 70m. Limited past exploration of the KGB in Botswana has identified local gold mineralisation in shallow drilling of exposed BIF targets. A focus of new exploration is to identify BIF-related gold mineralisation beneath the sand cover. To do this, North Arrow is working with Rockman Resources Limited's highly experienced Botswana-based exploration team, who are capable of deploying cost-effective proprietary exploration solutions including UAV geophysics, truck-mounted drilling and, potentially deep machine learning technologies to rapidly advance the Project. North Arrow is currently working to earn a 60% interest in the Project by investing US$5 million by June 30, 2027, including a firm commitment to invest US$1 million by June 30, 2025. Sampling, Laboratory Analyses and Quality Assurance/Quality Control (QA/QC) Bedrock samples collected in the field are sealed and shipped to ALS's laboratory in Johannesburg, South Africa using industry standard chain of custody protocols. Following an initial coarse crush (CRU-21), the entire sample is then pulverized (PUL-21) to better than 85% passing a 75-micron screen prior to geochemical analysis. All samples are analyzed for gold by fire assay with an ICP-AES finish, method code Au-ICP22 (50-gram sample). Samples returning gold values over 10 ppm are subjected to ore grade check assays using fire assay and a gravimetric finish using method code Au-GRA22 (50-gram sample). Samples are also subjected to lithium borate fusion and acid digestion for whole-rock analysis of major and trace elements by ICP-AES (major elements) and ICP-MS (trace elements); method codes ME-ICP06 and ME-MS81, respectively. In addition, a suite of base metals and other trace elements not included in the ME-MS81 method are analysed by ICP-AES on four-acid digestions (method code ME-4ACD81). QA/QC protocols include ALS laboratory's own internal quality assurance controls as well as the Company's field controls, including the insertion of duplicates and blanks, each at a rate of roughly one per 20 samples. QA/QC data are evaluated on receipt for failures, and appropriate action is taken if results for duplicates and blanks fall outside allowed tolerances. About North Arrow Minerals North Arrow is a Vancouver, BC-based exploration company focused on the evaluation of the Kraaipan Gold Project in Botswana. North Arrow's management, board of directors and advisors have significant successful experience in the global exploration and mining industry. North Arrow continues to maintain its Canadian diamond interests in the Naujaat (NU), Pikoo (SK), and Loki (NWT) Projects. North Arrow's exploration programs are conducted under the direction of Kenneth Armstrong, (NWT/NU, ON), Chairman of North Arrow and a Qualified Person under NI 43-101. North Arrow Minerals Inc. /s/ "Eira Thomas"Eira ThomasPresident and CEO Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. This news release contains "forward-looking statements" including but not limited to statements with respect to North Arrow's plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although North Arrow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. North Arrow undertakes no obligation or responsibility to update forward-looking statements, except as required by law. SOURCE North Arrow Minerals Inc. View original content to download multimedia: Sign in to access your portfolio
Cision Canada
21-05-2025
- Business
- Cision Canada
NORTH ARROW STARTS REVERSE-CIRCULATION DRILL SAMPLING PROGRAM AT KRAAIPAN GOLD PROJECT, BOTSWANA
BEDROCK SAMPLING INCLUDES ELEVEN SAMPLES RETURNING FROM 1.2 TO 10.1 g/t GOLD Trading Symbol -TSXV: NAR VANCOUVER, BC, May 21, 2025 /CNW/ - North Arrow Minerals Inc. (TSXV: NAR) ("North Arrow" or the "Company") is pleased announce the start of a three-month, reverse-circulation (RC) drill sampling program at the Kraaipan Gold Project, Botswana. The Kraaipan Project comprises a large land package covering 724 km 2 of mostly underexplored, Archean greenstone terrain, referred to as the Kraaipan Greenstone Belt ("KGB"). The KGB straddles the Botswana – South Africa border and is prospective for the discovery of both gold and base metal deposits. In Botswana, the KGB has undergone limited historical exploration owing to a generally thin (<40m) overburden cover of Kalahari sands and gravels that hinder the effectiveness of traditional exploration approaches. The South African portion of the KGB is better exposed and explored and is host to numerous mineral occurrences including Harmony Gold's multi-million-ounce Kalgold mine, which has operated continuously since the late-1990's and is located approximately 40 km south of the Kraaipan Project. Key Highlights: Three-month RC drilling campaign comprising up to 220 RC holes has commenced – designed to collect regional base of Kalahari overburden samples and test approximately 16 priority bedrock targets. High resolution magnetic surveying using proprietary, UAV Remote Mapper system has completed property wide surveys contributing to an updated, detailed geological and structural interpretation in support of priority drill target selection. Structural and bedrock mapping and sampling undertaken on outcrop exposures in the southern part of the belt confirms gold endowment: 22 of 89 bedrock samples (~25%) collected from rare outcrop exposures in the southern part of the Project returned anomalous gold values greater than 0.1 g/t gold, including 11 samples returning greater than 1 g/t gold including six samples greater than 4 g/t gold, with a highest assay of 10.1 g/t gold. Eira Thomas, President and CEO of North Arrow, stated, "The start of RC drill sampling is an important step in North Arrow's approach to rapidly evaluate the gold potential of the Kraaipan Project beneath the Kalahari sand cover. In a short period of time, together with our partner Rockman Resources, we have cost-effectively completed very high-resolution Remote Mapper magnetic surveys of prospective banded iron formation (BIF) units within the project area as well as detailed structural mapping and bedrock sampling of limited BIF outcrop exposures in the southern part of the Project. Eleven of the bedrock samples have returned anomalous gold values between 1.2 and 10.1 g/t, confirming that BIF units within the Kraaipan Project are capable of hosting gold mineralization and supporting our exploration thesis that adjacent, structurally complex areas beneath Kalahari cover, represent prospective gold exploration targets." Ms. Thomas continued, "The current drill sampling program is using a newly optimized RC drilling platform (see below), designed to minimize the time spent handling materials and moving between holes, allowing for rapid drilling to collect the base of Kalahari and bedrock samples. A revised structural interpretation of the KGB has been developed based on interpretations of the Remote Mapper and structural mapping survey data, and, combined with the new and historic geochemical datasets, used to identify over 16 target areas that will be drilled and sampled over the three-month program." Remote Mapper magnetic surveys – The Remote Mapper UAV system has completed collection of high-quality magnetic data over interpreted iron formation horizons within the Kraaipan Project area. Surveys were conducted at 25m line spacing and 30m height above surface, and final data was used in identifying RC drill target areas displaying structural complexity and disruption of BIF units. Structural and bedrock mapping – A series of BIF outcrops in the southern part of the project area were mapped earlier in 2025 to help correlate areas of structural and stratigraphic complexity and alteration with the new Remote Mapper data. To aid in these interpretations, 89 outcrop samples were also collected, intended to test areas with varying intensities of alteration and sulphide mineralization, as well as structures and features not expected to have gold mineralization but that may be encountered in the RC drill sampling program. Results of 2025 samples have been encouraging, with 25% (22 samples) returning anomalous gold values greater than 0.1 g/t gold, including 11 samples returning greater than 1 g/t gold and six samples greater than 4 g/t gold. The highest grade sample returned 10.1 g/t gold. The prospecting sample results confirm that BIF units within the Kraaipan Project area locally host gold mineralization and support the concept that adjacent areas beneath Kalahari cover, and having interpreted structural complexity, represent prospective gold exploration targets. RC drilling program – A three-month RC drilling program is underway and is intended to test at least sixteen target areas identified on the basis of Remote Mapper magnetic and structural mapping surveys, as well as current and historic geochemical information, where available. Five of the selected targets in the southern part of the project area are supported geochemically with at least one local sample of adjacent BIF bedrock returning greater that 1 g/t Au in samples collected in 2025. The majority of holes are planned to be drilled vertically through Kalahari overburden into bedrock. Drill hole locations have been selected to test key portions of identified structures, with samples collected from the base of Kalahari overburden and bedrock. Drilling rates will depend on the depth and character of the overburden encountered but, based on previous drilling experience, 180 to 220 holes are planned. The goal of the RC sampling program is to identify gold showings for follow up bedrock RC and diamond (core) drilling in the second half of 2025 and in 2026. About the Kraaipan Gold Project, Botswana The Kraaipan Gold Project is comprised of three mineral concessions covering the 60 km strike extent of the Kraaipan Greenstone Belt in Botswana. The KGB is a highly prospective Archean greenstone belt that straddles the Botswana - South Africa border, with proven mineral endowment including Harmony Gold's multi-million-ounce Kalgold mine in South Africa, approximately 40 km south of the Project. Past exploration of the northern extent of the KGB has been challenged by the presence of Kalahari overburden, impacting approximately 80% of the KGB within Botswana. The Kalahari overburden comprises unconsolidated sand as well as gravel, silcrete, calcrete and minor clay-rich horizons. While laterally extensive, this cover material is typically less than 20m over much of the Project but can locally reach depths of up to 70m. Limited past exploration of the KGB in Botswana has identified local gold mineralisation in shallow drilling of exposed BIF targets. A focus of new exploration is to identify BIF-related gold mineralisation beneath the sand cover. To do this, North Arrow is working with Rockman Resources Limited's highly experienced Botswana-based exploration team, who are capable of deploying cost-effective proprietary exploration solutions including UAV geophysics, truck-mounted drilling and, potentially deep machine learning technologies to rapidly advance the Project. North Arrow is currently working to earn a 60% interest in the Project by investing US$5 million by June 30, 2027, including a firm commitment to invest US$1 million by June 30, 2025. Sampling, Laboratory Analyses and Quality Assurance/Quality Control (QA/QC) Bedrock samples collected in the field are sealed and shipped to ALS's laboratory in Johannesburg, South Africa using industry standard chain of custody protocols. Following an initial coarse crush (CRU-21), the entire sample is then pulverized (PUL-21) to better than 85% passing a 75-micron screen prior to geochemical analysis. All samples are analyzed for gold by fire assay with an ICP-AES finish, method code Au-ICP22 (50-gram sample). Samples returning gold values over 10 ppm are subjected to ore grade check assays using fire assay and a gravimetric finish using method code Au-GRA22 (50-gram sample). Samples are also subjected to lithium borate fusion and acid digestion for whole-rock analysis of major and trace elements by ICP-AES (major elements) and ICP-MS (trace elements); method codes ME-ICP06 and ME-MS81, respectively. In addition, a suite of base metals and other trace elements not included in the ME-MS81 method are analysed by ICP-AES on four-acid digestions (method code ME-4ACD81). QA/QC protocols include ALS laboratory's own internal quality assurance controls as well as the Company's field controls, including the insertion of duplicates and blanks, each at a rate of roughly one per 20 samples. QA/QC data are evaluated on receipt for failures, and appropriate action is taken if results for duplicates and blanks fall outside allowed tolerances. About North Arrow Minerals North Arrow is a Vancouver, BC-based exploration company focused on the evaluation of the Kraaipan Gold Project in Botswana. North Arrow's management, board of directors and advisors have significant successful experience in the global exploration and mining industry. North Arrow continues to maintain its Canadian diamond interests in the Naujaat (NU), Pikoo (SK), and Loki (NWT) Projects. North Arrow's exploration programs are conducted under the direction of Kenneth Armstrong, (NWT/NU, ON), Chairman of North Arrow and a Qualified Person under NI 43-101. North Arrow Minerals Inc. /s/ "Eira Thomas" Eira Thomas President and CEO Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. This news release contains "forward-looking statements" including but not limited to statements with respect to North Arrow's plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although North Arrow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. North Arrow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.
Yahoo
27-02-2025
- Business
- Yahoo
NORTH ARROW UPDATES EXPLORATION OF KRAAIPAN GOLD PROJECT, BOTSWANA
DETAILED MAGNETIC SURVEYS 80% COMPLETE; STRUCTURAL & BEDROCK MAPPING UNDERWAY Trading Symbol - TSXV: NAR VANCOUVER, BC, Feb. 27, 2025 /CNW/ - North Arrow Minerals Inc. (TSXV: NAR) ("North Arrow" or the "Company") is pleased to provide an update on its ongoing exploration activities at the Kraaipan Gold Project, Botswana. The Kraaipan Project comprises a large land package covering 724 km2 of mostly underexplored, Archean greenstone terrain, referred to as the Kraaipan Greenstone Belt ("KGB"). The KGB straddles the Botswana – South Africa border and is prospective for the discovery of both gold and base metal deposits, however, in Botswana, it has undergone limited historical exploration owing to a generally thin (<40m) overburden cover of Kalahari sands and gravels that hinder the effectiveness of traditional exploration approaches using geological mapping, prospecting and geochemical sampling. The South African portion of the KGB is better exposed and explored and is host to numerous mineral occurrences including Harmony Gold's multi-million-ounce Kalgold mine, which has operated continuously since the mid-1990's and is located approximately 40km south of the Kraaipan Project. Ken Armstrong, President and CEO of North Arrow, stated, "A key part of North Arrow's approach to evaluating the gold potential of the Kraaipan Project beneath the Kalahari sand cover is to rapidly identify and test priority targets utilizing very high-resolution Remote Mapper UAV magnetic surveys and a newly optimized reverse-circulation (RC) drilling platform. To date, approximately 80% of the project area has been surveyed using Remote Mapper and detailed structural mapping of exposed banded iron formation (BIF) outcrops is underway. The magnetic surveys are expected to be completed in April and will be used along with the structural analysis to identify important bedrock and structural features beneath the Kalahari overburden. In conjunction with geochemical data from previous soil surveys and limited drilling, priority targets will be identified and tested as part of a three-month RC drilling program anticipated to start in May. RC drilling will focus on collection of geochemical samples from the base of the overburden and the underlying bedrock to enable a rapid, cost-effective regional assessment of the land package in support of developing hard rock drilling targets. North Arrow is fully funded to complete this work program and, in collaboration with our partner Rockman Resources, continues to evaluate additional opportunities and exploration techniques to systematically explore beneath Kalahari cover within the project area, and elsewhere in Botswana." Remote Mapper magnetic surveys – The Remote Mapper UAV system has collected over 21,000 line kilometres of high quality magnetic data within the Kraaipan Project area. Surveys are being conducted at 25m line spacing and 30m height above surface. Surveys of the remaining 20% of the KGB within the project area are expected to be completed in April. For more background on Remote Mapper, see Ken Armstrong's recent conversation with Bruce Johnson, one of the designers of the platform. Structural and bedrock mapping – A series of BIF outcrops in the southern part of the project area were the focus of limited past exploration of the KGB in Botswana, including rotary air blast drilling in the 1990's that identified sporadic, near surface gold mineralisation including 21m grading 1g/t Au, 9m grading 1.6 g/t Au and 3m grading 5.1 g/t Au. These iron formation outcrops are currently being mapped to help correlate areas of structural and stratigraphic complexity and alteration with the new Remote Mapper data. These correlations will increase confidence in Remote Mapper targets generated in areas beneath Kalahari cover and lacking outcrop exposures. RC Drilling program – A three-month RC drilling program is expected to start in May, testing targets identified from the Remote Mapper surveys and the structural and bedrock mapping interpretations. Drilling will focus on collection of geochemical samples from the base of the Kalahari overburden and underlying bedrock in order to identify new zones of gold mineralisation and associated alteration. An optimized RC drilling platform, designed to minimize the time spent handling materials and moving between holes, will be used and, depending on depth of sand and the distance between drill holes and target areas, is expected to allow for drilling of 3 to 5 holes per day. The goal of the RC sampling program is to identify gold showings for follow up bedrock RC and diamond (core) drilling in the second half of 2025 and in 2026. About the Kraaipan Gold Project, Botswana The Kraaipan Gold Project is comprised of three mineral concessions covering the 60 km strike extent of the Kraaipan Greenstone Belt in Botswana. The KGB is a highly prospective Archean greenstone belt that straddles the Botswana - South Africa border, with proven mineral endowment including Harmony Gold's multi-million-ounce Kalgold mine in South Africa, approximately 40 km south of the Project. Past exploration of the northern extent of the KGB has been challenged by the presence of Kalahari overburden, impacting approximately 80% of the KGB within Botswana. The Kalahari overburden comprises unconsolidated sand as well as gravel, silcrete, calcrete and minor clay-rich horizons. While laterally extensive, this cover material is typically less than 20m over much of the Project but can locally reach depths of up to 70m. Limited past exploration of the KGB in Botswana has identified local gold mineralisation in shallow drilling of exposed banded iron formation (BIF) targets. A focus of new exploration is to identify BIF-related gold mineralisation beneath the sand cover. To do this, North Arrow is working with Rockman Resources Limited's highly experienced Botswana-based exploration team, who are capable of deploying cost-effective proprietary exploration solutions including UAV geophysics, truck-mounted drilling and, potentially deep machine learning technologies to rapidly advance the Project. North Arrow is currently working to earn a 60% interest in the Project by investing US$5 million by June 30, 2027, including a firm commitment to invest US$1 million by June 30, 2025. About North Arrow Minerals North Arrow is a Vancouver, BC-based exploration company focused on the evaluation of the Kraaipan Gold Project in Botswana. North Arrow's management, board of directors and advisors have significant successful experience in the global exploration and mining industry. North Arrow continues to maintain its Canadian diamond interests in the Naujaat (NU), Pikoo (SK), and Loki (NWT) Projects. North Arrow's exploration programs are conducted under the direction of Kenneth Armstrong, (NWT/NU, ON), President and CEO of North Arrow and a Qualified Person under NI 43-101. North Arrow Minerals Inc. /s/ "Kenneth A. Armstrong"Kenneth ArmstrongPresident and CEO Website: Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. This news release contains "forward-looking statements" including but not limited to statements with respect to North Arrow's plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although North Arrow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. North Arrow undertakes no obligation or responsibility to update forward-looking statements, except as required by law. SOURCE North Arrow Minerals Inc. View original content to download multimedia:
Globe and Mail
27-02-2025
- Business
- Globe and Mail
NORTH ARROW UPDATES EXPLORATION OF KRAAIPAN GOLD PROJECT, BOTSWANA
Trading Symbol - TSXV: NAR VANCOUVER, BC , Feb. 27, 2025 /CNW/ - North Arrow Minerals Inc. (TSXV: NAR) ("North Arrow" or the "Company") is pleased to provide an update on its ongoing exploration activities at the Kraaipan Gold Project, Botswana . The Kraaipan Project comprises a large land package covering 724 km 2 of mostly underexplored, Archean greenstone terrain, referred to as the Kraaipan Greenstone Belt ("KGB"). The KGB straddles the Botswana – South Africa border and is prospective for the discovery of both gold and base metal deposits, however, in Botswana , it has undergone limited historical exploration owing to a generally thin (< 40m ) overburden cover of Kalahari sands and gravels that hinder the effectiveness of traditional exploration approaches using geological mapping, prospecting and geochemical sampling. The South African portion of the KGB is better exposed and explored and is host to numerous mineral occurrences including Harmony Gold's multi-million-ounce Kalgold mine, which has operated continuously since the mid-1990's and is located approximately 40km south of the Kraaipan Project. Ken Armstrong , President and CEO of North Arrow, stated, "A key part of North Arrow's approach to evaluating the gold potential of the Kraaipan Project beneath the Kalahari sand cover is to rapidly identify and test priority targets utilizing very high-resolution Remote Mapper UAV magnetic surveys and a newly optimized reverse-circulation (RC) drilling platform. To date, approximately 80% of the project area has been surveyed using Remote Mapper and detailed structural mapping of exposed banded iron formation (BIF) outcrops is underway. The magnetic surveys are expected to be completed in April and will be used along with the structural analysis to identify important bedrock and structural features beneath the Kalahari overburden. In conjunction with geochemical data from previous soil surveys and limited drilling, priority targets will be identified and tested as part of a three-month RC drilling program anticipated to start in May. RC drilling will focus on collection of geochemical samples from the base of the overburden and the underlying bedrock to enable a rapid, cost-effective regional assessment of the land package in support of developing hard rock drilling targets. North Arrow is fully funded to complete this work program and, in collaboration with our partner Rockman Resources, continues to evaluate additional opportunities and exploration techniques to systematically explore beneath Kalahari cover within the project area, and elsewhere in Botswana ." Remote Mapper magnetic surveys – The Remote Mapper UAV system has collected over 21,000 line kilometres of high quality magnetic data within the Kraaipan Project area. Surveys are being conducted at 25m line spacing and 30m height above surface. Surveys of the remaining 20% of the KGB within the project area are expected to be completed in April. For more background on Remote Mapper, see Ken Armstrong's recent conversation with Bruce Johnson, one of the designers of the platform. Structural and bedrock mapping – A series of BIF outcrops in the southern part of the project area were the focus of limited past exploration of the KGB in Botswana , including rotary air blast drilling in the 1990's that identified sporadic, near surface gold mineralisation including 21m grading 1g/t Au, 9m grading 1.6 g/t Au and 3m grading 5.1 g/t Au. These iron formation outcrops are currently being mapped to help correlate areas of structural and stratigraphic complexity and alteration with the new Remote Mapper data. These correlations will increase confidence in Remote Mapper targets generated in areas beneath Kalahari cover and lacking outcrop exposures. RC Drilling program – A three-month RC drilling program is expected to start in May, testing targets identified from the Remote Mapper surveys and the structural and bedrock mapping interpretations. Drilling will focus on collection of geochemical samples from the base of the Kalahari overburden and underlying bedrock in order to identify new zones of gold mineralisation and associated alteration. An optimized RC drilling platform, designed to minimize the time spent handling materials and moving between holes, will be used and, depending on depth of sand and the distance between drill holes and target areas, is expected to allow for drilling of 3 to 5 holes per day. The goal of the RC sampling program is to identify gold showings for follow up bedrock RC and diamond (core) drilling in the second half of 2025 and in 2026. About the Kraaipan Gold Project, Botswana The Kraaipan Gold Project is comprised of three mineral concessions covering the 60 km strike extent of the Kraaipan Greenstone Belt in Botswana . The KGB is a highly prospective Archean greenstone belt that straddles the Botswana - South Africa border, with proven mineral endowment including Harmony Gold's multi-million-ounce Kalgold mine in South Africa , approximately 40 km south of the Project. Past exploration of the northern extent of the KGB has been challenged by the presence of Kalahari overburden, impacting approximately 80% of the KGB within Botswana . The Kalahari overburden comprises unconsolidated sand as well as gravel, silcrete, calcrete and minor clay-rich horizons. While laterally extensive, this cover material is typically less than 20m over much of the Project but can locally reach depths of up to 70m . Limited past exploration of the KGB in Botswana has identified local gold mineralisation in shallow drilling of exposed banded iron formation (BIF) targets. A focus of new exploration is to identify BIF-related gold mineralisation beneath the sand cover. To do this, North Arrow is working with Rockman Resources Limited's highly experienced Botswana -based exploration team, who are capable of deploying cost-effective proprietary exploration solutions including UAV geophysics, truck-mounted drilling and, potentially deep machine learning technologies to rapidly advance the Project. North Arrow is currently working to earn a 60% interest in the Project by investing US$5 million by June 30, 2027 , including a firm commitment to invest US$1 million by June 30, 2025 . About North Arrow Minerals North Arrow is a Vancouver, BC -based exploration company focused on the evaluation of the Kraaipan Gold Project in Botswana . North Arrow's management, board of directors and advisors have significant successful experience in the global exploration and mining industry. North Arrow continues to maintain its Canadian diamond interests in the Naujaat (NU), Pikoo (SK), and Loki (NWT) Projects. North Arrow's exploration programs are conducted under the direction of Kenneth Armstrong , (NWT/NU, ON), President and CEO of North Arrow and a Qualified Person under NI 43-101. North Arrow Minerals Inc. /s/ "Kenneth A. Armstrong" Kenneth Armstrong President and CEO Website: Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. This news release contains "forward-looking statements" including but not limited to statements with respect to North Arrow's plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although North Arrow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. North Arrow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.
