TSX.V: AWS
VANCOUVER, June 13, 2012 /PRNewswire/ - Robert L. Card, President, Arrowstar Resources
Ltd., ("Arrowstar" or the "Company") (TSXV: AWS), is pleased to
report on the Company's recent site visit to Port Snettisham, 60
kilometres from Juneau,
Alaska.
Arrowstar's Vice President Exploration,
Phillip Thomas, and two assistants
visited the property by seaplane and noted a significant amount of
ultra mafic rock outcrop along the foreshore for the length of the
property. Traverses across the property up to an elevation of
approximately 500 metres also identified magnetite bearing
hornblende-biotite-pyroxenite. The magnetite body appears to
be an elliptical intrusion about 3 kilometres in outcrop along the
shore that is mainly composed of hornblende-magnetite
clinopyroxenite, biotite-magnetite pyroxenite, and
hornblende-biotite-magnetite clinopyroxenite transitioning to a
diorite and then finally a contact bounded by phyllite at Sentinel
Point in the north. The claim block also has two historical gold
mines (the Friday Mine and the Crystal Mine) that were both visited
but no tailings or outcrop could be located due to the heavy forest
undergrowth.
The pyroxenite at the southern end of the claim
contained significant amounts of magnetite and transitioned to
lower values as we traversed north. A Terradata KT-10 Plus
magnetic susceptibility meter recorded values as high as 32 on a
magnetite scale and ranged from 7-32 which was very encouraging.
Some samples were taken that exhibited a very high specific gravity
(greater than 4) indicating the presence of iron rich
mineralization.
In the middle of the property, near the old mill
numerous large magnetite float blocks were identified adjacent to
the chloritic diorite and it appears these are part of a large
magnetite intrusion, but this proposition could not be validated as
the undergrowth was too thick to penetrate to explore further.
Ten samples have been sent for analysis.
Davis tube testing will be done to determine the suitability of dry
magnetic separation. A complete iron suite analysis (FeO, Fe2O3,
Fe3O4, soluble iron) and the key elements of Ti, S, P, Si, Ca, Na,
K, Al and background elements of Platinum and Copper will be
conducted.
The Company is seeking quotations for a ground
based IP magnetic survey and aerial magnetic and gravity
survey. Subject to price, availability and environmental
approvals one of these will be commissioned this year as the next
step. When the results of the initial testing are known
further shoreline sampling and analysis will be completed.
Discussions were held with the Alaskan Forestry department in
Juneau regarding approvals to
commence a detailed geophysics program.
Phillip Thomas, BSc Geol, MBus, MAIG, a
Qualified Person under NI 43-101, has reviewed 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.