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Arrow Minerals gains Croesus Mining Pty Ltd as a new substantial shareholder

Croesus has purchased 10.9 million shares in a series of acquisitions since mid-April.
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Croesus Mining now has a 5.04% interest in the gold explorer

Arrow Minerals Ltd (ASX:AMD) has a new substantial shareholder with Croesus Mining Pty Ltd now holding a 5.04% interest.

Croesus and associated entities now have almost 15.468 million shares of the explorer focused on gold as well as nickel and lithium.

Since mid-April Croesus has purchased 10.9 million shares, taking its total holding to more than 13.9 million shares while related entity Ascent Capital Holdings Pty Ltd holds 1.5 million.

READ: Arrow Minerals drills best gold intersection to date at T6 prospect

Arrow last month recorded the best intersection to date from the Strickland Gold Project in Western Australia - 56 metres at 0.8 g/t gold from surface to the end-of-hole.

This came from the maiden aircore drilling of the T6 prospect, with bedrock gold mineralisation intersected.

A total of 394 holes for 7,937 metres were drilled on a 400x80 metre grid.

Four bedrock gold prospects have been identified from 1.5 to 3.5 kilometres in strike length, with several prospects remaining open along mineralised structures.

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Sue Corrigan is a geologist and geoscientist with 40 years' industry experience in both exploration and development geology

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