Jan. 16, 2013
Robert L. Card
, President of Arrowstar Resources Ltd., ("Arrowstar" or the "Company") (TSXV: AWS), is pleased to announce that the Company has staked an additional 21 claims adjacent to and continuous with its Port Snettisham,
iron ore claim block (the "Claims").
The Claims adjoin the present claim block to the east and south in an area potentially extending an area of magnetic highs indicated during the Company's geophysical surveys conducted this past summer. The new claim block expands the Company's project area by about 43%.
The Company is presently preparing an application for a drilling permit, with the new ground being acquired, the application can be completed and filed. Once the approval has been received the Company will commence a diamond drill program designed to facilitate a National Instrument 43-101 Report outlining potential quality and quantity of the iron resources on the Claims.
In 1970, Marcona Corporation of
announced a plan to spend
to place this property into production at the rate of 5 million tons per year. Unfortunately, the decline of iron prices caused the project to be delayed and was subsequently dropped.
The Company also announces the resignation of
as a director of the Company effective
January 15, 2013.
Peter is very busy spending 90% of his time managing a coal project in
. The Company wishes to thank him for his time and effort as a director of Arrowstar and extends its best wishes for his success in
On Behalf of the Board of Directors, Arrowstar Resources Ltd.
"Robert L. Card"
Robert L. Card
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