Highlights:
-
Three large magnetite outcrops, the largest measuring 500 metres by
600metres were identified in the west of the 128 claims located about
40km northwest of Kangirsuk and 1,647 kilometres north of Montreal,
Quebec.
-
25 samples were taken and values were recorded on the "Magnetite" Scale
of a KT-10 Plus magnetitic susceptibility meter.
-
The samples will be assayed and a ground based magnetic survey planned
as follow up.
TSX-V: AWS
VANCOUVER, July 27, 2012 /CNW/ - Robert L. Card, President of Arrowstar
Resources Ltd., ("Arrowstar" or the "Company") (TSXV: AWS), is pleased
to report that Phillip Thomas, Vice -President Exploration and Director
visited the property on 14 June 2012 and was able to locate three large
outcrops of shallow dipping granodiorites, and carbonates containing
magnetite and hematite. The chert-magnetite-hematite iron formation
contains specularite an altered magnetite mineral.
Significant outcrop and float is exposed on the surface with no trees
and very little overburden. There are numerous small lakes in the
area.
The general stratigraphic sequence observed is composed of an Archean
age granite gneiss basement; unconformably overlying the granite gneiss
is a succession of meta-sedimentary rocks. Immediately overlying the
granite gneiss in some areas is quartzite of the Ford Lake Formation.
The quartzite contains surface expressions of magnetite and lenses or
pods of mica schist. The quartzite grades upward into the Sokoman Iron
Formation. The iron formation may be further subdivided based on
variations in magnetite, hematite, carbonate and iron silicates. A
conspicuous spotted iron silicate-carbonate-quartz bed that caps the
iron formation was identified at site two. Micaceous schist and slate
that are intruded by gabbro sills overlie the Sokoman iron formation.
This was identified as outcrop and float predominately in outcrop
three.
Strong folding has resulted in a structural influence on the iron
formation. Thrusting and recumbent folding of the iron formation in
several areas has led to limb thickening, thinning, and doubling up of
the mineralized horizons in some locations. The known deposits or more
prospective areas on the property are those areas where the iron
formation has been deformed and is now flat-lying, or slightly dipping
with a strike to the NNE and dipping about 15 degrees, and raised above
the surrounding non-mineralized rocks, deformed into anticlines or
synclines, doubled up or otherwise thickened.
Concentrating ores are typically composed of magnetite and or hematite
and silicate minerals at relatively low grades (20-30% Fe) that require
grinding to liberate magnetite and/or hematite from the silicate
minerals. Magnetite is concentrated by magnetic methods and hematite is
concentrated by gravity or flotation methods.
The value of concentrating ores is determined by a combination of Fe
grade and ease of liberation. For example, a lower Fe grade ore may
have a higher value than a higher Fe grade ore if it liberates at a
coarser grind enabling greater throughput with lower grinding costs.
Samples have been sent for assay and will be reported when available.
Phillip Thomas, BSc, MBus, MAIG, a Qualified Person under NI 43-101, has
reviewed the content of this release.
On Behalf of the Board of Directors,
Arrowstar Resources Ltd.
"Robert L. Card"
Robert L. Card
President
"Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release."
Forward-Looking Statements: This document includes forward-looking statements. Forward-looking
statements include, but are not limited to, statements concerning AWS's
planned exploration programs and other statements that are not
historical facts. When used in this document, the words such as
"could," "plan," "estimate," "expect," "intend," "may," "potential,"
"should," and similar expressions are forward-looking statements.
Although AWS believes that its expectations reflected in these forward
looking statements are reasonable, such statements involve risks and
uncertainties and no assurance can be given that actual results will be
consistent with these forward-looking statements. Important factors
that could cause actual results to differ from these forward-looking
statements are disclosed under the heading "Risk Factors" and elsewhere
in the corporation's periodic filings with Canadian securities
regulators.
SOURCE: Arrowstar Resources Ltd.