VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/07/12 -- Arrowhead Gold Corp. (the "Company") (TSX VENTURE: AWH) is pleased to announce that it has commenced phase II of its drill program on the wholly owned Puruni Gold Project in Guyana, S.A.
The phase II drilling program will consist of 800 metres in depth. Most of phase II is a follow up to the 2,000 metres of diamond drilling that was completed in 2011. All seven (7) holes drilled in 2011 returned anomalous gold values and tested only a small length of the broad altered and mineralized area defined by the mapping and sampling program at the surface.
Phase II will concentrate on an area in proximity to the saprolite and elevated gravel terraces adjacent to the river bank where two high grade veins was uncovered. An estimated 3,000 oz of gold was recovered from these quartz veins in 2010 using crude crushing and sluicing techniques in just over 4 months (Henry Alphonso, personal communication). Geological relations indicate that veins exposed on the property are syngenetic lode veins that were formed from hydrothermal sea-floor hot springs. The geology appears to be analogous to the Peter's Mine and other gold deposits in Guyana.
On Behalf of the Board of Arrowhead Gold Corp.,
Steve Smith, President
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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