DETAILED MAGNETIC SURVEYS 80% COMPLETE;
STRUCTURAL & BEDROCK MAPPING UNDERWAY
Trading Symbol - TSXV: NAR
VANCOUVER, BC, Feb. 27,
2025 /CNW/ - North Arrow Minerals Inc. (TSXV:
NAR) ("North Arrow" or the "Company") is pleased to
provide an update on its ongoing exploration activities at the
Kraaipan Gold Project, Botswana.
The Kraaipan Project comprises a large land package covering 724
km2 of mostly underexplored, Archean greenstone terrain,
referred to as the Kraaipan Greenstone Belt ("KGB"). The KGB
straddles the Botswana –
South Africa border and is
prospective for the discovery of both gold and base metal deposits,
however, in Botswana, it has
undergone limited historical exploration owing to a generally thin
(<40m) overburden cover of
Kalahari sands and gravels that hinder the effectiveness of
traditional exploration approaches using geological mapping,
prospecting and geochemical sampling. The South African portion of
the KGB is better exposed and explored and is host to numerous
mineral occurrences including Harmony
Gold's multi-million-ounce Kalgold mine, which has operated
continuously since the mid-1990's and is located approximately 40km
south of the Kraaipan Project.
Ken Armstrong, President and CEO
of North Arrow, stated, "A key part of North Arrow's approach to
evaluating the gold potential of the Kraaipan Project beneath the
Kalahari sand cover is to rapidly identify and test priority
targets utilizing very high-resolution Remote Mapper UAV magnetic
surveys and a newly optimized reverse-circulation (RC) drilling
platform. To date, approximately 80% of the project area has been
surveyed using Remote Mapper and detailed structural mapping of
exposed banded iron formation (BIF) outcrops is underway. The
magnetic surveys are expected to be completed in April and will be
used along with the structural analysis to identify important
bedrock and structural features beneath the Kalahari overburden. In
conjunction with geochemical data from previous soil surveys and
limited drilling, priority targets will be identified and tested as
part of a three-month RC drilling program anticipated to start in
May. RC drilling will focus on collection of geochemical
samples from the base of the overburden and the underlying bedrock
to enable a rapid, cost-effective regional assessment of the land
package in support of developing hard rock drilling targets. North
Arrow is fully funded to complete this work program and, in
collaboration with our partner Rockman Resources, continues to
evaluate additional opportunities and exploration techniques to
systematically explore beneath Kalahari cover within the project
area, and elsewhere in Botswana."
Remote Mapper magnetic surveys – The Remote Mapper UAV
system has collected over 21,000 line kilometres of high quality
magnetic data within the Kraaipan Project area. Surveys are being
conducted at 25m line spacing and
30m height above surface. Surveys of
the remaining 20% of the KGB within the project area are expected
to be completed in April. For more background on Remote Mapper, see
Ken Armstrong's recent conversation
with Bruce Johnson, one of the
designers of the platform.
Structural and bedrock mapping – A series of BIF outcrops
in the southern part of the project area were the focus of limited
past exploration of the KGB in Botswana, including rotary air blast drilling
in the 1990's that identified sporadic, near surface gold
mineralisation including 21m grading
1g/t Au, 9m grading 1.6 g/t Au and
3m grading 5.1 g/t Au. These iron
formation outcrops are currently being mapped to help correlate
areas of structural and stratigraphic complexity and alteration
with the new Remote Mapper data. These correlations will increase
confidence in Remote Mapper targets generated in areas beneath
Kalahari cover and lacking outcrop exposures.
RC Drilling program – A three-month RC drilling program is
expected to start in May, testing targets identified from the
Remote Mapper surveys and the structural and bedrock mapping
interpretations. Drilling will focus on collection of geochemical
samples from the base of the Kalahari overburden and underlying
bedrock in order to identify new zones of gold mineralisation and
associated alteration. An optimized RC drilling platform, designed
to minimize the time spent handling materials and moving between
holes, will be used and, depending on depth of sand and the
distance between drill holes and target areas, is expected to allow
for drilling of 3 to 5 holes per day. The goal of the RC sampling
program is to identify gold showings for follow up bedrock RC and
diamond (core) drilling in the second half of 2025 and in 2026.
About the Kraaipan Gold Project, Botswana
The Kraaipan Gold Project is comprised of three mineral
concessions covering the 60 km strike extent of the Kraaipan
Greenstone Belt in Botswana. The
KGB is a highly prospective Archean greenstone belt that straddles
the Botswana - South Africa border, with proven mineral
endowment including Harmony Gold's
multi-million-ounce Kalgold mine in South Africa, approximately 40 km south of the
Project. Past exploration of the northern extent of the KGB has
been challenged by the presence of Kalahari overburden, impacting
approximately 80% of the KGB within Botswana. The Kalahari overburden comprises
unconsolidated sand as well as gravel, silcrete, calcrete and minor
clay-rich horizons. While laterally extensive, this cover material
is typically less than 20m over much
of the Project but can locally reach depths of up to 70m. Limited past exploration of the KGB in
Botswana has identified local gold
mineralisation in shallow drilling of exposed banded iron formation
(BIF) targets. A focus of new exploration is to identify
BIF-related gold mineralisation beneath the sand cover. To do this,
North Arrow is working with Rockman Resources Limited's highly
experienced Botswana-based
exploration team, who are capable of deploying cost-effective
proprietary exploration solutions including UAV geophysics,
truck-mounted drilling and, potentially deep machine learning
technologies to rapidly advance the Project.
North Arrow is currently working to earn a 60% interest in the
Project by investing US$5 million by
June 30, 2027, including a firm
commitment to invest US$1 million by
June 30, 2025.
About North Arrow Minerals
North Arrow is a Vancouver,
BC-based exploration company focused on the evaluation of
the Kraaipan Gold Project in Botswana. North Arrow's management, board of
directors and advisors have significant successful experience in
the global exploration and mining industry. North Arrow continues
to maintain its Canadian diamond interests in the Naujaat (NU),
Pikoo (SK), and Loki (NWT) Projects. North Arrow's exploration
programs are conducted under the direction of Kenneth Armstrong, P.Geo. (NWT/NU, ON),
President and CEO of North Arrow and a Qualified Person under NI
43-101.
North Arrow Minerals Inc.
/s/ "Kenneth A. Armstrong"
Kenneth Armstrong
President and CEO
Website: www.northarrowminerals.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider accepts responsibility for
the adequacy or accuracy of this release.
This news release contains "forward-looking statements"
including but not limited to statements with respect to North
Arrow's plans, the estimation of a mineral resource and the success
of exploration activities. Forward-looking statements, while based
on management's best estimates and assumptions, are subject to
risks and uncertainties that may cause actual results to be
materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the successful integration of acquisitions; risks
related to general economic and market conditions; closing of
financing; the timing and content of upcoming work programs; actual
results of proposed exploration activities; possible variations in
mineral resources or grade; failure of plant, equipment or
processes to operate as anticipated; accidents, labour disputes,
title disputes, claims and limitations on insurance coverage and
other risks of the mining industry; changes in national and local
government regulation of mining operations, tax rules and
regulations. Although North Arrow has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. North Arrow undertakes no
obligation or responsibility to update forward-looking statements,
except as required by law.
SOURCE North Arrow Minerals Inc.
