Highlights:
- Three large magnetite outcrops, the largest measuring 500
metres by 600metres were identified in the west of the 128 claims
located about 40km northwest of Kangirsuk and 1,647 kilometres north of
Montreal, Quebec.
- 25 samples were taken and values were recorded on the
"Magnetite" Scale of a KT-10 Plus magnetitic susceptibility
meter.
- The samples will be assayed and a ground based magnetic
survey planned as follow up.
TSX-V: AWS
VANCOUVER, July 27, 2012 /PRNewswire/ - Robert L. Card, President of Arrowstar Resources
Ltd., ("Arrowstar" or the "Company") (TSXV: AWS), is pleased to
report that Phillip Thomas, Vice
-President Exploration and Director visited the property on
14 June 2012 and was able to locate
three large outcrops of shallow dipping granodiorites, and
carbonates containing magnetite and hematite. The
chert-magnetite-hematite iron formation contains specularite an
altered magnetite mineral.
Significant outcrop and float is exposed on the
surface with no trees and very little overburden. There are
numerous small lakes in the area.
The general stratigraphic sequence observed is
composed of an Archean age granite gneiss basement; unconformably
overlying the granite gneiss is a succession of meta-sedimentary
rocks. Immediately overlying the granite gneiss in some areas is
quartzite of the Ford Lake Formation. The quartzite contains
surface expressions of magnetite and lenses or pods of mica schist.
The quartzite grades upward into the Sokoman Iron Formation. The
iron formation may be further subdivided based on variations in
magnetite, hematite, carbonate and iron silicates. A conspicuous
spotted iron silicate-carbonate-quartz bed that caps the iron
formation was identified at site two. Micaceous schist and slate
that are intruded by gabbro sills overlie the Sokoman iron
formation. This was identified as outcrop and float predominately
in outcrop three.
Strong folding has resulted in a structural
influence on the iron formation. Thrusting and recumbent folding of
the iron formation in several areas has led to limb thickening,
thinning, and doubling up of the mineralized horizons in some
locations. The known deposits or more prospective areas on the
property are those areas where the iron formation has been deformed
and is now flat-lying, or slightly dipping with a strike to the NNE
and dipping about 15 degrees, and raised above the surrounding
non-mineralized rocks, deformed into anticlines or synclines,
doubled up or otherwise thickened.
Concentrating ores are typically composed of
magnetite and or hematite and silicate minerals at relatively low
grades (20-30% Fe) that require grinding to liberate magnetite
and/or hematite from the silicate minerals. Magnetite is
concentrated by magnetic methods and hematite is concentrated by
gravity or flotation methods.
The value of concentrating ores is determined by
a combination of Fe grade and ease of liberation. For example, a
lower Fe grade ore may have a higher value than a higher Fe grade
ore if it liberates at a coarser grind enabling greater throughput
with lower grinding costs.
Samples have been sent for assay and will be
reported when available.
Phillip Thomas,
BSc, MBus, MAIG, a Qualified Person under NI 43-101, has
reviewed the content of this release.
On Behalf of the Board of Directors,
Arrowstar Resources Ltd.
"Robert L. Card"
Robert L.
Card
President
"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 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.