Arrow Minerals Ltd (ASX:AMD) is ready to accelerate its exploration programs across Australia and Africa.
Proceeds from the companys recent placement and issue of unlisted options, to total $3.2 million, will be used to fund expanded exploration and drilling programs at exploration projects in Burkina Faso, including the Dassa gold discovery.
Geophysical surveys will also be undertaken at its 100%-owned Strickland Copper-Gold Project in Western Australia.
Chief executive officer Howard Golden said: “This capital raising puts Arrow in a strong position to explore its high-quality portfolio of assets well into 2021.
“There are seasonal issues with working in Africa, but the nice thing is that when it starts to rain around July/August in West Africa thats the best time to get on the ground in Western Australia.
“Weve got a cricket versus football season strategy when it comes to exploration.”
Exploration strategy[hhmc]
The company has a 3,000-metre drilling program planned to start in July aimed at expanding its Dassa gold discovery.
Target definition acceleration is planned on four additional Burkina Faso projects as well as EM surveys planned for quarter three 2020 at its Strickland Project in Western Australia.
Golden said: “Weve got a packed schedule coming up, but were excited to get out there because its been a frustrating few months.”
The company has been able to keep its team on the ground in Burkina Faso intact and is ready to hit the ground running in early July.
Golden said: “There was some question about whether we could get expats into Burkina Faso and the bad news is no.
“But the good news is that its okay because we have a highly skilled team there and they can hit the ground running, they dont need us to tell them what to do.”
Dassa gold discovery[hhmc]
The Dassa discovery in Burkina Faso is a zone of mineralisation that extends for at least 3 kilometres and previous RC drilling has produced results as high as 3 metres at 15.1 g/t gold, including 1-metre at 44.7 g/t.
Golden said: “We were pretty excited about that and then the whole COVID-19 thing happened.
“Its a really interesting discovery, about 3 kilometres long and theres an untested gap in the middle of it.
“Now were ready to get in there, drill the gap and try to fill it in.”
Auger drilling is also planned to test the extension of the mineralisation along a zone that could extend the discovery to 7 kilometres in length.
Burkina Faso targets[hhmc]
Elsewhere in Burkina Faso, the company will undertake soil and auger sampling programs on an additional four 100%-owned licence blocks.
Activities include:
- The analysis of stream sediment samples and follow-up as appropriate in quarter three 2020 at Boulsa;
- Soil and auger sampling to be followed up by RC drilling in quarter four 2020 at Divole East;
- Soil sampling and follow-up work indicated by soil results in quarter four 2020 at Nako; and
- Soil sampling and any follow-up work as indicated by soil results in quarter one 2021 at Dyapya.
Golden said: “We have four other projects that weve targeted exactly the same way [as Dassa] so we feel just as comfortable about them but of course we have much less information.
“Well be analysing some samples that weve already collected, gathering some new samples and course following those up in the same systematic way, mapping, surface sampling and then moving on to drilling when we get good results.”
Strickland Copper-Gold Project[hhmc]
Golden said: “Our primary project in WA is the Strickland Copper-Gold Project.
“Its about 800 square kilometres and has two sectRead More – Source
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