Canadian Arrow Mines, Ltd.
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | 236 Cedar Street Sudbury, Ontario Canada P3B 1m7 |
|
| Tel No.: | (705) 673-8259 | |
| Fax No.: | (705) 673-5450 | |
| Toll Free No.: | 1-877-262-6354 | |
| Web Site: | www.canadianarrowmines.com | |
| Corporate Email: | dmaceachern@canadianarrowmines.com | |
| Contact Person: | Dean MacEachern | Mara A. Strazdins |
| Position: | V.P. Exploration | V.P. Investor Relations |
| Tel: | (416) 868-1079 Ext. 222 | |
| Traded Market: | TSX-V |
| Traded Symbol: | CRO |
| Outstanding Shares: | 21.4 million |
| 52 Week High: | $ 0.19 |
| 52 Week Low: | $ 0.05 |
| Present Price: | Click Here |
INTRODUCTION
Canadian Arrow Mines, Ltd. is an established Canadian company with over 66 years of exploration, development and mining history. The Company is presently focused on developing economically viable nickel sulphide deposits. The main focus of the Company is on the recently acquired Kenbridge nickel property. Canadian Arrow controls several other properties with excellent geophysical, geological and geochemical characteristics. The Company is pursuing additional property acquisitions with nickel and PGM mineralization.
Canadian Arrow's exploration strategy utilizes innovative technologies to identify prospective nickel targets. The firm has an exceptional management and technical team with experience in grass-roots, advanced and mine site exploration around the globe.
Canada Arrow strives to create wealth for shareholders through the acquisition, discovery and development of economic high-grade base metal deposits. The Company is actively developing their property portfolio through extensive geological compilation of property history, analysis of geophysical data and property agreements with established exploration firms.
PROJECT IN HAND
(1) Kenbridge Nickel Property, Ontario
The Kenbridge property is located in northwestern Ontario near the town of Kenora and comprises 73 patented and unpatented claims. The property was explored by Falconbridge Limited in the 1950s and outlined a historic reserve of 3.3 million tonnes with 1.14% Ni and 0.6% Cu. On May 24, 2006, Canadian Arrow announced its agreement to acquire 100% interest in the Kenbridge property from Falconbridge, by assuming the Purchase and Sale Agreement that Falconbridge has with Blackstone Ventures Inc. from Blackstone. The focus will be to confirm and expand the outlined historic resource.
In 2005, Blackstone completed 21 drill holes designed to test for high grade portions within the orebody above the 500 ft. level. Several high grade intervals of nickel-copper mineralization were intersected, highlights are:
· DDH05-11: 3.62% Ni and 0.88% Cu over 8.1 m;
· DDH05-16: 2.26% Ni and 0.58% Cu over 12.0 m;
· DDH05-20: 3.79% Ni and 0.99% Cu over 4.0 m;
· DDH05-21: 3.39% Ni and 1.07% Cu over 15.5 m.
Canadian Arrow considers these intersections to be very significant and will be reviewing the drill core and all other project data as part of its due diligence conducted in June and July.
Terms of the Kenbridge Acquisition
· Issue to Blackstone a total of 2,500,000 units in capital stock;
· Incur expenditure in the amount of CDN$9 million by December 31, 2010;
· CDN$1 million payment to Blackstone by 2012;
· CRO assumes the terms of the Blackstone/Falconbridge agreement of June 6, 2004.
(2) Hart Property, Ontario
Canadian Arrow Mines, Ltd. has a 100% interest in the Hart nickel deposit, representing approximately 150 hectares, 28 km southeast of Timmins, Ontario.
The Hart deposit represents one of the best exploration targets for Ni-PGE sulphides in the Timmins area due to sub-cropping high grade massive and disseminated nickel sulphide mineralization and the limited amount of past exploration completed on the zone. The Hart deposit lies along strike of several past producing komatiite hosted nickel mines including the Langmuir #2 Mine and the Redstone Mine. Several high grade nickel zones were intersected by the limited diamond drilling completed in the late 1960s.
The Hart deposit is a classic komatiite hosted Ni-Cu-PGE deposit similar to the Kambalda deposits of Western Australia. The massive and net-textured Ni-sulphide mineralization appears to be associated with apparent thermal erosion embayments along the footwall contact of a komatiitic peridotite. Several additional zones of disseminated Ni-bearing sulphides were intersected within the peridotite above the footwall contact. 1.66% Ni, 0.11% Cu, 0.03% Co and 0.43 g/t PGM at the interpreted base of an ultramafic flow unit.
Canadian Arrow intends to carry out an exploration program re-interpretation of geophysical surveys, mechanical stripping of main mineralized zone and diamond drilling to define boundaries and plunge of the Ni-sulphide mineralization.
(3) Alexo Property, Ontario
The Alexo nickel deposit is located 45 km northeast of Timmins, Ontario. Discovered in 1907, it was mined during
b
oth World Wars. Total production of about 55,000 tonnes was mined, grading 4.5% Ni, 0.37% Cu, 0.23% Co plus approximately 0.01 oz Pt and 0.02 oz Pd. Canadian Arrow subsequently mined an additional 30,000 tonnes of 1.9% Ni and 0.2% Cu in 2004/2005 from the Alexo and Kelex horizons.
The Alexo deposit was mined to a depth of 180 ft. and it remains open along strike to the east and at depth. Historic drilling tested the deposit to 300 ft. below surface.
MANAGEMENT
Canadian Arrow Mines, Ltd. has a well management team with experience in different areas.
Dave Larche, President & CEO
25 years experience in the mining and exploration contracting industry; founded Great White Minerals, an industrial minerals producer in operation for 14 years.
Dean MacEachern, P.Geo., V.P. Exploration & Director
Former Regional Manager Falconbridge Ventures of Africa, Falconbridge Limited Winnipeg; 20 years experience in Ni, Cu, Zn, PGM exploration.
John Larche, Director
Discoverer of the Hemlo Gold Deposits. He has received the Order of Canada and is a Lifetime member and former President of PDAC.
Alan Letourneau, C.A., CFO & Director
17 years experience as Certified Accountant, Partner at Fuller Jenks Landau.
Todd Keast, P.Geo., Director
20 years experience in North America nickel-copper, VMS exploration; formerly Project Manager for Canadian Royalties Ungava Projects.
Paul Nagerl, MSc., P.Geo., Director
21 years of nickel-copper, base and precious metal exploration experience obtained throughout Canada, Africa, South and Central America, currently VP Exploration, Blackstone Ventures Inc.
NEWS UPDATE
On February 01, 2007 Canadian Arrow Mines Ltd. has initiated an airborne geophysical survey over the company's Kenbridge, Denmark Lake, Chief Peter Lake, Eva Lake, Kawane and Abiwin nickel-copper projects located in Northwestern Ontario. The 1,100 line-kilometre airborne ATEM and magnetic survey has been contracted to Aeroquest Ltd. which as mobilized a field crew to complete the survey over the next few weeks. The objective of the airborne survey is to provide a modern geophysical database from which the company will generate nickel sulphide exploration targets to be tested by diamond drilling in 2007.
On January 15, 2007 Canadian Arrow agreement foe Chief Peter Lake
On January 15, 2007 Canadian Arrow agreement for Ontario claims
On January 3, 2007, Canadian Arrow Mines Ltd. announced that it has signed two different option agreements to acquire a 100% interest in the Chief Peter Lake property and 100% interest in the Eva Lake property, the Kawene property and the Abiwin property, all located near Atikokan, Northwestern Ontario. All these new acquisitions are situated in areas that cover a number of historical nickel, copper and platinum element group (PGM) showings.
On December 12, 2006 Canadian Arrow Mines Ltd. has the agreement for Denmark Lake.
On December 05, 2006 Canadian Arrow Mines Ltd. has signed an option agreement to acquire q 100% interest in the Denmark Lake nickel-copper property adjacent to the company's Kenbridge deposit near Kenora, Ontario. The new acquisition covers a number of historical nickel and gold showings including the Nelson Gauthier occurrence with a drill intersection of 0.78% Ni and 0.78% Cu over a 15-metre interval, and the Apex Ni-Cu occurrence which hosts a historical resource of 237,600 tonnes of 1.03% Cu, 0.56% Ni. In addition, the Denmark Lake property covers approximately 8.5 kilometres of strike extent along the major controlling structure for the Kenbridge nickel deposit mineralization.
On December 01, 2006 Canadian Arrow Mines Ltd. further to its news issued dated on October 23, 2006, has settled a total of $365,000 of debt by issuing a total of 600,000 common shares of the company at a deemed issue price of 15 cents per share and a total of 1.1 million common shares of the company at a deemed issue price of 25 cents per share. All securities issued pursuant to this transaction are subject to a Canadian hold period expiring March 30, 2007.
On October 30, 2006, Canadian Arrow Mines Ltd. announced that Alan Letourneau has resigned as Chief Operating Officer of the Company effective immediately. Mr. Letourneau will, however, continue to remain a director to the Company. Replacing Mr. Letourneau as Chief Operating Officer is Paul D'Aloisio.
The Company also announced that, subject to regulatory approval, it has granted incentive stock options to certain directors and officers entitling them to purchase up to 400,000 shares of the Company at a price of 15 cents per share, exercisable until Oct. 23, 2011. All stock options are subject to TSX Venture Exchange vesting rules.
On October 23, 2006, Canadian Arrow Mines Ltd. announced that it has reached an agreement with certain creditors to settle at a total of $390,000 of debt by issuing a total of 600,000 common shares of the Company at a deemed issue price of 15 cents per share and a total of 1.2 million common shares of the Company at a deemed issue price of 25 cents per share.
On October 6, 2006, Canadian Arrow Mines Ltd. announced that TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced August 1, 2006, as amended August 3, 2006.
Shares: 6.6 million non-flow-through shares and 3.52 million flow-through shares
Price: 10 cents per non-flow-through share and 13 cents per flow-through share
On September 18, 2006, Canadian Arrow Mines Ltd. has closed its brokered private placement. Accordingly, Arrow has issued 3.52 million flow-through units at 13 cents each ($457,600) and 6.6 million non-flow-through units at 10 cents per unit ($660,000), for total proceeds of $1,117,600. Toll Cross Securities Inc. acted as agent to this financing.
On September 14, 2006, Canadian Arrow Mines Ltd. announced that it has finalized an agreement with Blackstone Ventures Inc. whereby Blackstone has granted an option to Arrow to acquire a 100% interest in 74 patented claims on the Kenbridge nickel deposit, including the acquisition of Blackstone's 99% interest in Kenbridge Nickel Mines Ltd. The principal asset of Kenbridge is 24 of the patented claims comprising the Kenbridge property, which is located within the Kenora mining division in the Atikwa Lake and Fisher Lake areas.
On September 1, 2006, Canadian Arrow Mines Ltd. agreement for Kenbridge nickel property. Also Property Agreement (C-BLV) with Blackstone Ventures Inc.
On August 31, 2006, Canadian Arrow Mines Ltd. announced that Kinross Gold has completed the previously announced acquisition of Crown Resources Corp. The transaction closed immediately following the Crow special meeting, at which the Crown shareholders voted in favour of the plan of merger between Crown and a wholly owned subsidiary of Kinross.
The Buckhorn gold deposit owned by Crown is located in north-central Washington State, United States, approximately 76 km by road from Kinross's Kettle River gold milling facility. The Buckhorn project is expected to contribute approximately 200,000 ounces gold per year at low costs to our growth profile beginning in 2008," said Tye Burt, President and Chief Executive Officer of Kinross Gold.
On August 3, 2006, Canadian Arrow Mines, Ltd. advised that it has amended the brokered private placement previously announced on August 1, 2006. The increased offering of up to $1,120,000 led by Toll Cross Securities will now be comprised of up to approximately 3,523,000 flow-through units at $0.13 each (approximately $460,000) and up to 6,600,000 non-flow-through units at $0.10 each unit (approximately $660,000).
Proceeds from the non-flow-through portion of the funds will be used for the costs of the offering and for general working capital purposes. Proceeds received from the flow-through funds will be used for exploration work on the Company's Kenbridge property, which is currently before the Exchange for approval. For further details on the acquisition of the Company's Kenbridge Property, please see the Company's news release of May 24, 2006.