CANADIAN ARROW COMMENCES DRILLING ON TIMMINS NICKEL PROJECTS

Canadian Arrow Mines Ltd. (TSXV:CRO) announced that it has begun drilling on  its Timmins area Alexo and Kelex nickel projects.

The press release is quoted as saying:

The Company is also pleased to announce it has received, and filed on Sedar, the completed NI 43-101 technical report from P&E Mining Consultants Inc. of Brampton, Ontario supporting mineral resource estimates for its Alexo and Kelex projects. The indicated resources announced on September 22, 2010 totals 243,000 tonnes grading 1.08% nickel, containing 5.8M lbs of nickel, and are amenable to both open pit and underground extraction(1). The report concluded that, “Opportunities exist to increase the resource estimates of the known zones with further drilling below and along strike of the deposits.” The report also stated,” There is a high potential of discovering other deposits on the Property as well.”

Kim Tyler, President of the company says:

“The completed technical report supports our plans to re-start production and generate early cash-flow on our Timmins projects as soon as possible. The findings in the report have furthermore encouraged us to act on the recommendations to push out to the full mineral resource potential by drilling beyond the known mineralization towards our exploration targets. Our Timmins projects provide a low-risk opportunity to finance development of our larger, primary Kenbridge nickel project as an alternative to fund raising in the market.”

To access the full release, click here.