Arrowstar Files Secret Pass Ni 43-101 Technical Report On SEDAR
VANCOUVER, BC / ACCESSWIRE / May 31, 2016 / Arrowstar Resources Ltd (“Arrowstar” or the “Company“) (TSX.V: AWS) is pleased to announce that the Company has filed its National Instrument 43-101 Technical Report (“NI 43-101“) for the Company’s Secret Pass Property (the “Property“) dated May 4, 2016, on SEDAR. The NI 43-101 was prepared for the Company by Barbara Carroll, BSc CPG who is acting as the Company’s Qualified Person (“QP“).
Secret Pass highlights include the following:
- A block model completed by GEOVIA in 2013 shows mineralized material using a 0.01 oz/ton cutoff using ordinary kriging, with 2,790,726 tons, with gold grades from 0.012 to 0.846 oz/ton with an average of 0.037 oz/ton. Although the Company believes that the work was completed by competent persons to the standards of the day, the Company’s QP has not done sufficient work to classify this historical estimate as current mineral resource or mineral reserve as defined in sections 1.2 and 1.3 of NI 43-101. The Company is not treating the historical estimates as a current mineral resource.
- Steinpress 1986 reported on drill hole TC- 10 which intercepted 90 feet of gold at 0.475 oz/ton starting at 305 feet. Past exploration on the Tin – Cup and FM Zones includes 46,051 feet of drilling in 126 holes, the majority of which were reverse circulation.
The 43-101 recommends a two-phase program of exploration. The first phase exploration program budgeted at US$200,000 and a second phase of verification exploration budgeted at US$400,000 as follows:
A complete property-wide review of all previous field work, including sampling and geologic mapping of the known mineralized occurrences, to identify priority targets for follow-up drilling. The program will include geochemical, geological mapping focusing on structure and alteration and geophysical reinterpretation. In addition, a planned field review of the Oatman Gold District designed to interpret the potential mineral deposition similarities in an effort to assist structural modeling for the Property.
Follow up core drilling of 6 to 10 holes to test the priority targets generated from Phase one and test the QA/QC. Advancing to Phase 2 is contingent on positive results from Phase One.
This news release has been reviewed and approved by Barbara Carroll, BSc CPG, who is acting as the Company’s QP for the Secret Pass property technical report, in accordance with NI 43-101.
On Behalf of the Board of Directors,
Arrowstar Resources Ltd.
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 in North America 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.