Arrow Minerals Ltd: Bauxite Resource Drilling Underway

Perth, Australia - Arrow Minerals Ltd. (ASX:AMD) is pleased to advise that its maiden drilling program at the Niagara Bauxite Project in Guinea has started.

Key Points

- Resource drill-out at Arrow's Niagara bauxite project has started

- Work will initially focus on testing three of a total of nine targets, selected for their accessibility, proximity to the rail corridor and lower cost startup potential

- Drilling by multiple previous owners established the presence of extensive bauxite mineralisation

- Arrow will complete approximately 150 drill holes, spaced at 600m by 600m closing to 300m by 300m for a total of approximately 2,000m

- Up to 10 bulk samples will be collected to gain early understanding of value-in-use characteristics of Niagara bauxite for potential alumina refinery customers

- Drilling is due to conclude by mid-December

The drilling, shown in Figure 3*, will focus on areas where previous exploration by companies, including Vale, have established the presence of extensive bauxite mineralisation at or near the surface.

The drill program is expected to be completed within 4 to 6 weeks, with first assay results to arrive later in the quarter. Arrow anticipates that all drilling and all chemical analyses will be completed during 2024, providing data to underpin a potential maiden Mineral Resource, followed by a scoping study in the first half of 2025.

Field work is advancing, including engagement with local and regional government authorities for the purpose of introducing and describing Arrow's future activities to host communities, and collecting various baseline environmental information.

Arrow has previously reported an Exploration Target for the Niagara Bauxite Project of approximately 170 - 340Mt at a grade range of approximately 40 - 46 % Al2O3, and 1 - 4 % SiO2.

Cautionary Statement: The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Resource.

Arrow Managing Director David Flanagan said: "We already know there is extensive bauxite mineralisation at Niagara, its well defined by previous explorers but it was never developed largely as a result of the absence of rail and port infrastructure. We are now in a new paradigm, the proximity of capacity on the Simandou rail line for third party ore haulage is a huge opportunity for Guinea and the Niagara Bauxite Project. Arrow recently reported a Memorandum of Understanding (MoU) agreed with Baosteel Resources regarding a framework to facilitate mine gate sales of iron ore products from the Simandou North Iron Project."

"Drilling will test three targets previously drilled out by Vale on 800 metre by 800 metre spacings in 2007. These are big targets stretching over 10 kilometres in strike and we expect them to deliver sufficient confidence to allow us to report a scoping study."

"The team has completed all the baseline environmental studies and community consultation, and are now on the ground drilling. We continue to employ people immediately adjacent to our activity at all times. We look forward to reporting the drilling results later this quarter".

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/379CS85B

About Arrow Minerals Ltd:

Arrow Minerals Ltd (ASX:AMD) is an exploration and development company focused on delivering long-term shareholder value through the discovery of economic mineral deposits in West Africa. The Company has implemented a systematic science-based exploration philosophy whilst remaining commercially nimble to ensure we capture and retain value.

Source:
Arrow Minerals Ltd

Contact:

Arrow Minerals Ltd E: info@arrowminerals.com.au WWW: www.arrowminerals.com.au