Vancouver – With approval in hand, Canadian Arrow Mines (CRO-V) is now moving forward on full-scale mining at its Alexo nickel project, located 45 km northeast of Timmins, Ontario.
The Ontario Ministry of Northern Development and Mines (MNDM) has given the project its blessing, allowing the company to transition the project from advanced exploration and bulk sampling to full production.
Mining operations at the Alexo pit are now ramping up with shipments of high-grade nickel sulphide ore, initiated in the bulk-sampling program, continuing to be trucked from the site to Falconbridge’s (FL-T) Strathcona Mill processing facility outside of Sudbury.
Sulphide ore produced at Alexo also contains values of copper, cobalt and platinum group metals.
The company’s ongoing drill and bulk sampling program has been aimed at identifying further open-pit mineable resources of nickel sulphides on the project.
Nickel mineralization on the Alexo property is classified as Kambalda-type, where high-grade massive sulphide lenses, or pods, occur as concentrations within footwall embayments of a komatiitic peridotite-dunite unit overlying metavolcanics (andesites).
Canadian Arrow has 20.8 million shares outstanding, giving the issue a market capitalization of $11.2 million at its recent trading price of 54 per share.
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