SUDBURY, Ontario--(BUSINESS WIRE)--Canadian Arrow Mines Limited (CRO:TSX-V) (the “Company”) announces it has commenced open pit de-watering operations in advance of resumed production on its Kelex nickel project. The de-watering operation will take approximately two months after which mining activities may commence. The Company already has an agreement to toll mill its ore and sell the nickel concentrate product to Xstrata Nickel of Falconbridge, Ontario.
Mr. Kim Tyler, President of the Company said, “We are very pleased to be finally moving forward on the ground with re-starting Kelex. The early spring weather has also been a significant advantage that may allow mining activities to commence earlier than anticipated. More disclosure on production details is forthcoming as events proceed.”
The Company plans to resume production on its past producing Alexo and Kelex mines containing NI 43-101 indicated resources of 9.9M lbs of nickel within 473,000 tonnes averaging 0.96% nickel. The Company is also developing its flagship Kenbridge nickel project. Kenbridge contains 98M lbs of nickel and 52M lbs of copper within 7.1M tonnes grading 0.62% Ni and 0.33% Cu of NI 43-101 of open pit and underground measured and indicated resources.
The information in this release was prepared under the direction of Mr. R. Kim Tyler, P. Geo., President of the Company, a Qualified Person as defined by NI 43-101.
About Canadian Arrow Mines:
Canadian Arrow Mines Limited is developing two advanced nickel/copper mining projects located near existing infrastructure in Ontario, Canada. Its principal asset is the Kenbridge nickel-copper sulphide deposit located near Kenora, Ontario that remains open in three directions; is equipped with a 620 m shaft and has never been mined.
Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Additional information relating to Canadian Arrow is available on SEDAR at www.sedar.com
This press release may contain "forward-looking statements" within the meaning of the Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. The forward-looking statements may include but are not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, etc. forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume, any obligation to update these forward-looking statements.
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.
For further information: visit the website at www.canadianarrowmines.ca, or contact Mr. Kim Tyler President and Director toll free, 1-877-673-5462 or at info@canadianarrowmines.com .