NORTH ARROW UPDATES EXPLORATION OF KRAAIPAN GOLD PROJECT, BOTSWANA
DETAILED MAGNETIC SURVEYS 80% COMPLETE; STRUCTURAL & BEDROCK MAPPING UNDERWAY
Trading Symbol -TSXV: NAR
VANCOUVER, BC, Feb. 27, 2025 /CNW/ - North Arrow Minerals Inc. (TSXV: NAR) ("North Arrow" or the "Company") is pleased to provide an update on its ongoing exploration activities at the Kraaipan Gold Project, Botswana. The Kraaipan Project comprises a large land package covering 724 km2 of mostly underexplored, Archean greenstone terrain, referred to as the Kraaipan Greenstone Belt ("KGB"). The KGB straddles the Botswana – South Africa border and is prospective for the discovery of both gold and base metal deposits, however, in Botswana, it has undergone limited historical exploration owing to a generally thin (<40m) overburden cover of Kalahari sands and gravels that hinder the effectiveness of traditional exploration approaches using geological mapping, prospecting and geochemical sampling. The South African portion of the KGB is better exposed and explored and is host to numerous mineral occurrences including Harmony Gold's multi-million-ounce Kalgold mine, which has operated continuously since the mid-1990's and is located approximately 40km south of the Kraaipan Project.
Ken Armstrong, President and CEO of North Arrow, stated, "A key part of North Arrow's approach to evaluating the gold potential of the Kraaipan Project beneath the Kalahari sand cover is to rapidly identify and test priority targets utilizing very high-resolution Remote Mapper UAV magnetic surveys and a newly optimized reverse-circulation (RC) drilling platform. To date, approximately 80% of the project area has been surveyed using Remote Mapper and detailed structural mapping of exposed banded iron formation (BIF) outcrops is underway. The magnetic surveys are expected to be completed in April and will be used along with the structural analysis to identify important bedrock and structural features beneath the Kalahari overburden. In conjunction with geochemical data from previous soil surveys and limited drilling, priority targets will be identified and tested as part of a three-month RC drilling program anticipated to start in May. RC drilling will focus on collection of geochemical samples from the base of the overburden and the underlying bedrock to enable a rapid, cost-effective regional assessment of the land package in support of developing hard rock drilling targets. North Arrow is fully funded to complete this work program and, in collaboration with our partner Rockman Resources, continues to evaluate additional opportunities and exploration techniques to systematically explore beneath Kalahari cover within the project area, and elsewhere in Botswana."
Remote Mapper magnetic surveys – The Remote Mapper UAV system has collected over 21,000 line kilometres of high quality magnetic data within the Kraaipan Project area. Surveys are being conducted at 25m line spacing and 30m height above surface. Surveys of the remaining 20% of the KGB within the project area are expected to be completed in April. For more background on Remote Mapper, see Ken Armstrong's recent conversation with Bruce Johnson, one of the designers of the platform.
Structural and bedrock mapping – A series of BIF outcrops in the southern part of the project area were the focus of limited past exploration of the KGB in Botswana, including rotary air blast drilling in the 1990's that identified sporadic, near surface gold mineralisation including 21m grading 1g/t Au, 9m grading 1.6 g/t Au and 3m grading 5.1 g/t Au. These iron formation outcrops are currently being mapped to help correlate areas of structural and stratigraphic complexity and alteration with the new Remote Mapper data. These correlations will increase confidence in Remote Mapper targets generated in areas beneath Kalahari cover and lacking outcrop exposures.
RC Drilling program – A three-month RC drilling program is expected to start in May, testing targets identified from the Remote Mapper surveys and the structural and bedrock mapping interpretations. Drilling will focus on collection of geochemical samples from the base of the Kalahari overburden and underlying bedrock in order to identify new zones of gold mineralisation and associated alteration. An optimized RC drilling platform, designed to minimize the time spent handling materials and moving between holes, will be used and, depending on depth of sand and the distance between drill holes and target areas, is expected to allow for drilling of 3 to 5 holes per day. The goal of the RC sampling program is to identify gold showings for follow up bedrock RC and diamond (core) drilling in the second half of 2025 and in 2026.
About the Kraaipan Gold Project, Botswana
The Kraaipan Gold Project is comprised of three mineral concessions covering the 60 km strike extent of the Kraaipan Greenstone Belt in Botswana. The KGB is a highly prospective Archean greenstone belt that straddles the Botswana - South Africa border, with proven mineral endowment including Harmony Gold's multi-million-ounce Kalgold mine in South Africa, approximately 40 km south of the Project. Past exploration of the northern extent of the KGB has been challenged by the presence of Kalahari overburden, impacting approximately 80% of the KGB within Botswana. The Kalahari overburden comprises unconsolidated sand as well as gravel, silcrete, calcrete and minor clay-rich horizons. While laterally extensive, this cover material is typically less than 20m over much of the Project but can locally reach depths of up to 70m. Limited past exploration of the KGB in Botswana has identified local gold mineralisation in shallow drilling of exposed banded iron formation (BIF) targets. A focus of new exploration is to identify BIF-related gold mineralisation beneath the sand cover. To do this, North Arrow is working with Rockman Resources Limited's highly experienced Botswana-based exploration team, who are capable of deploying cost-effective proprietary exploration solutions including UAV geophysics, truck-mounted drilling and, potentially deep machine learning technologies to rapidly advance the Project.
North Arrow is currently working to earn a 60% interest in the Project by investing US$5 million by June 30, 2027, including a firm commitment to invest US$1 million by June 30, 2025.
About North Arrow Minerals
North Arrow is a Vancouver, BC-based exploration company focused on the evaluation of the Kraaipan Gold Project in Botswana. North Arrow's management, board of directors and advisors have significant successful experience in the global exploration and mining industry. North Arrow continues to maintain its Canadian diamond interests in the Naujaat (NU), Pikoo (SK), and Loki (NWT) Projects. North Arrow's exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo. (NWT/NU, ON), President and CEO of North Arrow and a Qualified Person under NI 43-101.
North Arrow Minerals Inc.
/s/ "Kenneth A. Armstrong"
Kenneth Armstrong
President and CEO
Website: www.northarrowminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking statements" including but not limited to statements with respect to North Arrow's plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although North Arrow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. North Arrow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.
SOURCE North Arrow Minerals Inc.
For further information, please contact: Ken Armstrong or Nick Thomas, Tel: 604-889-5252 or 778-229-7194
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