Arrow Pilbara holds two granted tenement licences and two applications for licences, comprising of a total of 609 km2 (the "Property"). The large Property is situated in the eastern portion of the currently defined part of Western Australia's Pilbara gold play that is characterized by thick gold nugget-bearing conglomerate beds of the Archean age Mallina Basin.
- Strategic land holdings totaling 609 km2, with recent discovery of gold nuggets from outcropping conglomerates. Nuggets 5 to 10 mm in size have been discovered on the Property.
- Seven conglomerate gold targets have been identified with characteristic radiometric anomalies;
- Directly adjacent and proximal to key exploration properties controlled by Novo Resources Corp., De Grey Mining Ltd., and Kairos Minerals Ltd.;
- Gold anomalies identified along structures which host gold mineralization on adjacent properties.
Pilbara Gold Project and its Prospectivity
The Property comprises two exploration licences and two exploration licence applications covering 609 km2 of ground prospective for conglomerate-hosted gold in the Pilbara region of Western Australia (refer to location map). The licences cover various parts of the prospective contact between the older Pilbara granite-greenstone terrain and the overlying Fortescue Group rocks in the East Pilbara region, including areas close to and adjoining licences held by Novo Resources Corp. (refer to location map).
Arrow confirms that prospectors have recently uncovered several gold nuggets in conglomerate units in the Mallina Basin on exploration license E47/3476. Geological and prospecting information on the Property has been provided by Arrow, which the Company has reviewed and believes to be reliable.
In addition to the gold nuggets found during the short prospecting trip, there is considerable evidence of previous prospector activity throughout the tenement. The short prospecting programme was completed on exploration licence E47/3476. Arrow completed targeting exercise over E47/3476 (north) and E47/3478 (south), highlighting nine (9) conglomerate or basement gold targets.
Arrow has reprocessed available radiometric surveys, highlighting seven (7) conglomerate gold targets with radiometric anomalies over mapped conglomerates and meta-sediments of the Mallina Basin. (see Figure 3 below and the Company website www.pactongold.com).
Historical surface geochemistry data was also reviewed as part of the initial targeting exercise with three (3) of the radiometric anomalies having coincident elevated gold in streams, and gold in soil samples, confirming the prospectivity of the tenements. The remaining four (4) conglomerate gold targets have not had any previous exploration, and are prioritized for exploration.
The two basement gold targets are located along significant shear structures splaying off the Mallina Shear, which hosts De Grey Mining Limited's (De Grey) (ASX: DEG) Indee Gold Project, and the Blue Moon Prospect and associated nuggets, which was recently acquired by De Grey (see Figure 4 below and the Company website). Target 1 is a gold anomaly situated along splay faults off the Mallina and Wohler Shears. Target 2 is located along the same structure as the Blue Moon Prospect and is also a coincident radiometric anomaly within conglomeratic sediments. Arrow completed a review of its recently acquired tenements (E45/5042 and E45/5043), which cover the prospective Mallina Basin, and the Tabba Tabba Shear adjacent to the Cooke's Hill gold mine.