TSX.V: AWS
VANCOUVER, March 1, 2013 /CNW/ - Robert L. Card, President of Arrowstar Resources
Ltd., (TSXV: AWS), (the "Company") reports that the Company has
filed its application for a drilling permit on its Snettisham iron
ore prospect located near Juneau,
Alaska. The Company recently completed a ground magnetic
survey of the property and coordinated the results with previously
secured surface sample results. The drilling permit covers a
proposed 3,600 meters of drilling comprised of 9 to 15 holes
ranging in depth from 200 to 500 metres. Initial review has
identified three high magnetic intensity areas over a 750 metre
distance with the largest area having a magnetic intensity greater
than 78,000 nanoTeslas over an ellipsoidal surface area of
approximately 750 metres by 750 metres. The foreshore where
significant magnetite outcrop was located in the June 2012 rock chip survey measured 71,500
nanoTeslas.
The drilling program is designed to determine
the extent of the mineralization at depth, the mineralogy and
petrology, the contact rock and the magnitude of the
mineralization. With this data, a NI 43-101 Report will be prepared
to report on the drilling results and the extent of the
mineralization.
The Company also announces the signing of a
drilling contract with Black Rock Drilling of Spokane, WA. The Company expects to
initiate the drilling within 2-3 weeks of receiving approval of the
permit from the seven different government organizations we have
submitted our documents to.
Phillip Thomas,
BSc, MBusM, MAIG, Vice President Exploration, a Qualified
Person under NI 43-101, has reviewed and approved 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.