Arrow’s Pilbara expansion opens a larger iron ore pipeline

Pilbara land strategy accelerates

Arrow Minerals Limited (ASX:AMD) is turning a collection of Pilbara exploration assets into a much larger iron ore growth strategy, applying for 13 exploration licences covering roughly 979 square kilometres since September. The company’s Western Australian tenure now includes a 70% interest in E08/3668, options over two nearby applications, and a further post-quarter-end agreement to acquire the Turee Creek Iron Project.

The expansion builds on the earlier Pilbara land grab, which involved the Turee Creek transaction and 12 new applications. Arrow says the new ground has been selected for its iron potential and proximity to transport infrastructure, but most of the enlarged position remains subject to licence awards, access arrangements, transaction completion or option decisions. No resource has been established for the newly targeted ground.

“Location of Arrow's Projects and Key Infrastructure in the Pilbara Region, WA.”

“Turee Creek tenure acquisitions and applications with past drilling and surface sampling locations shown.”

Caption and image © Arrow Minerals Ltd. From “September 2026 Quarterly Activities Report”, 30 Oct 2026.

The Turee Creek package is the most substantial addition. Located roughly 40 kilometres from the Paraburdoo and West Angelas operations, it includes two exploration licence applications and forms part of a combined 833 square kilometre Arrow landholding. The project contains 48 square kilometres of mapped Brockman Iron Formation, while about 40% of the package is covered by transported material that could conceal channel iron deposits or detrital deposits. Historical drilling tested less than 5% of the prospective lithology, with a best reported intersection of eight metres at 54.0% iron from 22 metres.

Yarraloola moves towards drill targeting

At Yarraloola, exploration licence E08/3803 has been granted, opening the eastern magnetic trend for work. Arrow also completed a 791-station gravity survey over the Ava, Fraser and Mr Thomas targets, with the data now intended to improve modelling and guide future drilling. An Exploration Incentive Scheme grant of $25,500 will help fund induced polarisation and fixed-loop electromagnetic surveys over known mineralisation.

“Yarraloola progress – tenure granted, gravity survey, drill CORE review.”

“Tenement Plan showing the newly granted E08/3803 relative to Arrow’s existing Yarraloola permits overlain on open file TMI-RTP imagery.”

Caption and image © Arrow Minerals Ltd. From “September 2026 Quarterly Activities Report”, 30 Oct 2026.

The company’s review of seven historical diamond drill holes held by the Geological Survey of Western Australia has added another layer to the Yarraloola work program. Three holes contain mineralised intercepts, including a result of 32.7 metres at 0.7% copper, 0.3% lead, 16.3 grams per tonne silver and 0.4% zinc from 54 metres. The historical result did not include gold analysis, and Arrow is working with the core library team to determine whether further analytical work can be completed. A native title heritage survey is scheduled for 26 to 30 November ahead of proposed drill testing at the historical copper mine, which has not been drilled since the 1970s.

Niagara permit restores Guinea workstream

In Guinea, Arrow has received a new three-year industrial exploration permit covering its 100%-owned Niagara Bauxite Project, allowing field activity to resume after the earlier permit was subject to government review. The company has paid land taxes in the host prefectures, completed fieldwork for an updated environmental and social study, and received a draft report for review. Further metallurgical sampling is also under way across material grading between 42% and 48% alumina to support pricing and mine-planning work.

Arrow is updating the Niagara scoping study, whose original cost estimates and market assessments were largely prepared in March 2025. The company also plans additional drilling across untested plateaux to support a revised mineral resource. Any potential expansion beyond a 4 million tonne per annum operation remains tied to further drilling, study work and permitting, while the Exploration Target cited for Niagara remains conceptual and is not a Mineral Resource.

Cash position leaves limited room for delay

“Arrow Minerals' Project Locations in the Republic of Guinea.”

Arrow finished September with $2.02 million in cash after using $869,000 in operating activities and $454,000 in investing activities during the quarter. The Appendix 5B calculates 2.3 quarters of funding based on the reported operating cash outflow, although that measure does not necessarily capture the cost of a faster exploration campaign, further acquisitions or new access obligations. The company reported no production and spent $200,000 on exploration and evaluation during the quarter.

The unresolved Simandou North permit remains the clearest negative thread. Arrow says it has received no formal notice of cancellation despite public statements in Guinea that included the permit among those potentially subject to withdrawal. Exploration has been suspended since June 2025, and the company is withholding results from completed metallurgical and process-plant studies pending clarification of the permit’s status. The next test for the Pilbara strategy is therefore practical rather than promotional: converting a rapidly assembled land position into granted tenure, accessible ground and drill results before the cash buffer becomes the more immediate constraint.