See Full National Instrument 43-101 ("NI 43-101") Technical Report
Arrowstar's February 7, 2012 press release officially announced that on October 19, 2011, the TSX Venture Exchange accepted for filing an agreement (the "Port Snettisham Agreement") between Arrowstar Resources Ltd. (formerly Gulfside Minerals) and Pacific Rim Mineral, LLC for an option for Arrowstar to acquire up to a 100% interest in 49 contiguous claims covering 1,012 acres that comprise the Port Snettisham Iron Ore Property. Port Snettisham is located 50km SE of Juneau, Alaska and 30km from the Canadian border to the east.
The Port Snettisham property has had significant historical work indicating it is rich in high grade magnetite and Snettisham ore has been subject to several programs of beneficiation test work including a 1956 US Department of the Interior, Bureau of Mines RI 5195 Report that stated Snettisham has "...a potentially large deposit containing titaniferus magnetite that can be recovered as high grade magnetite concentrate using standard, comparatively low cost methods." The report suggests it is possible to produce an iron ore concentrate containing in excess of 60% Fe with good iron recoveries. See Full Report.
On June 13, 2013, Arrowstar announced that it has filed a preliminary National Instrument 43-101 ("NI 43-101") technical report on the Company's Alaska iron ore project. The report covers preliminary information, historic results of previous work and work undertaken by the Company on this magnetite showing. The report also outlines some of the Company's plans and work programs for the coming months in an effort to eventually produce a NI 43-101 compliant resource estimate.
Highlights of the project include:
In 1970, Marcona completed a feasibility study on the deposit and announced plans to put the deposit into production at a rate of 5 million tons of concentrate per year over a 50 year mine life. (State of Alaska, Dept. of Natural Resources, Division of Mines & Geology, Mines Bulletin, February 1970). In recent years however, iron ore prices have soared. As at May 21, 2013, the Spot Price for 62% Fe iron ore was $129.25 per tonne (FIS Iron Ore Swap Report, 01 October 2013).
SNETTISHAM IRON ORE - A BRIEF HISTORY
The Company is currently executing an exploration plan that includes the following operations:
On January 16, 2013, Arrowstar announced that it has staked an additional 21 claims adjacent to and continuous with its Port Snettisham, Alaska iron ore claim block (49 claims). The additional 21 claims adjoin the present claim block to the east and south in an area potentially extending an area of magnetic highs indicated during the Company's geophysical surveys conducted this past summer. The new claim block expands the Company's project area by about 43%.
The magnetite-bearing diorite-hornblendite-pyroxenite intrusive occupies a land area of approximately 390 acres along the northeast shore of the Snettisham Peninsula. It appears the magnetite formed during a pegmatite alteration phase.
Thorne R L, Wells R. R. - Studies of the Snettisham Magnetite Deposit, South Eastern Alaska United States Department of the Interior February 1956.
Picture of the tenement from North to South. The second inlet (where the old pier is) is where gold mining was conducted in 1908.
The beach area to the south of the tenement, where magnetite bearing pyroxene outcrop forms a black band at the forest level.
The magnetite bearing pyroxene mineralisation is highly magnetic and extends for 2000m along the foreshore.
In parts of the outcrop, large boulders of aplite (white mineral - feldspar and quartz) appears with crystalline magnetite and apatite (green mineral - found often with magnetite (eg. Kiruna)
To the north the diorite host rock contacts with a metamorphosed phyllite, and the magnetic field from the magnetite stops.
A large piece of aplite (quartz feldspar) with a magnetite inclusion. The KT-10 Plus magnetic susceptibility meter is in the lower foreground.
The forest is reasonably dense close to the shoreline, but thins out further as you ascend to 1500 feet above sea level.
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