Arrow Minerals acquires Pilbara iron ore project

Arrow Minerals Limited has agreed to acquire a 70% interest in a direct shipping ore (DSO)-grade iron ore project from Voyage Minerals, a subsidiary of Leeuwin Metals. The project is located on tenement application E08/3668 in the Pilbara region of Western Australia, adjacent to Arrow’s Yarraloola Copper Project.

The target area features a mapped strike length of over 2km of channel iron mineralisation at the surface. The project is situated less than 15km from Rio Tinto’s 65 million tonnes per annum Robe River joint venture operations.

As part of the agreement, Arrow has secured a 12-month option to acquire a 70% interest in two additional tenement applications, bringing the total exploration package to 319km². The parties will form an unincorporated joint venture where Leeuwin retains a free-carried interest until the completion of a Bankable Feasibility Study and a decision to mine. At that stage, Leeuwin may choose to maintain its 30% equity or dilute to a 1.5% gross sales royalty.