TSX.V: AWS
VANCOUVER, Sept. 17, 2012 /PRNewswire/ - Robert L. Card, President of Arrowstar Resources
Ltd., (TSXV: AWS), (the "Company") reports that the Company is
planning to diamond core drill the Snettisham magnetite iron ore
deposit located near Juneau,
Alaska this fall. The Company recently completed a
ground magnetic survey of the property and preliminary results have
been reviewed by Phillip Thomas, the
Company's Vice President of Exploration. Complete results and
analysis are still pending but an initial review has identified
three high magnetic intensity areas over a one kilometer distance
with the largest area having a magnetic intensity greater than
78,000 nanoTeslas over an ellipsoidal surface area of approximately
750 metres by 750 metres. The foreshore where significant
magnetite outcrop was located in the June
2012 rock chip survey measured 71,500 nanoTeslas.
The Company has identified five drill hole
locations on this large high magnetic target in addition to two
close to the foreshore. The drilling program is designed to
better determine the extent of the mineralization at depth, the
mineralogy, the contact rock and the magnitude of the
resource. With this data, an outline of a mineable resource
will be determined; the Company can then decide the most commercial
approach to mine this large iron structure.
Once the final results of the survey are
reviewed, the Company will site 5 to 12 drill holes and then apply
for a permit for the drilling program. The Company expects to
start its drill program on the Snettisham project this fall.
Phillip Thomas,
BSc, MBus, MAIG, a Qualified Person under National
Instrument 43-101, has reviewed and approved 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.