Arrow Minerals reports substantial exploration target and positive metallurgical testwork

Arrow Minerals Limited (ASX: $AMD) has reported an estimated Exploration Target of approximately 281 to 716 million tonnes of Simandou Formation Oxide BIF at 33-46% Fe. The company has also conducted positive preliminary metallurgical testwork, achieving 61-64% Fe, low alumina (<0.5%) hematite fines from a simple wet gravity process. The potential quantity and grade of the Exploration Target is conceptual in nature, and further exploration is required to estimate a Mineral Resource.

Executive Commentary on Hematite Fines Project

Mr David Flanagan, Managing Director of Arrow Minerals, expressed enthusiasm about the discovery of the hematite fines project, stating, 'The discovery of this hematite fines project is a terrific result. In only a few months in the field, the team has successfully identified part of the BIF sequence that presents a substantial opportunity, being very similar to the Itabirites which are being mined by Vale in Brazil. Positive preliminary metallurgical testwork already undertaken which achieves 61-64% Fe, low alumina (<0.5%) hematite fines from a simple wet gravity process.' He further added, 'This is a brilliant Project, and we are going to move quickly. That means running resource drilling, mine permitting activities and scoping studies which we plan to complete within 12 months.'

Outlook and Future Plans

Arrow Minerals' Simandou North Iron Project has shown promising potential with the estimated Exploration Target and positive metallurgical testwork. The company plans to proceed with infill drilling to enhance geological confidence, facilitate concurrent estimation of mineral resources, and execute scoping studies with results anticipated in mid-2025. The multi-user rail and port infrastructure, along with the simple wet gravity process, point to the potential for a capital light project. Arrow Minerals aims to continue mapping and drilling across the entire project, with a further 1,307 samples pending. Shareholders can expect a steady stream of updates on drilling results, progress on scoping studies, or resource drilling at Simandou North or the Niagara Bauxite Project following the recent acquisition agreement. The company also intends to access multi-user rail infrastructure to fully realize the value of the Projects.