Arrow Minerals (ASX:AMD) said the maiden mineral resource for the Niagara bauxite project in Guinea came in at 184.6 million tonnes at over 42% grade of aluminum oxide and 2.7% grade of silicon oxide, according to a Tuesday Australian bourse filing.
More than 75% of mineral resources, or 142 million tonnes, are in the higher confidence indicated category.
The large, high-grade mineral resource, characterized by low silica content provides a very strong basis for a scoping study, which is now underway and on track for reporting in June.
The company's shares were up almost 3% in recent Tuesday trade.
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