Leeuwin Metals Ltd ( (AU:LM1) ) has shared an update.

Arrow Minerals has agreed to acquire a 70% stake in a direct shipping ore-grade iron ore project from Voyage Minerals, a subsidiary of Leeuwin Metals, along with a 12-month option over two additional nearby tenement applications. The 319-square-kilometre package in the Pilbara sits less than 15km from Rio Tinto’s 65Mtpa Robe River Joint Venture operations and hosts more than 2km of mapped channel iron mineralisation at surface, adjacent to a major highway.

Previous exploration, including work by Leeuwin and CZR Resources, has identified high-grade channel iron deposits at the BBQ Valley CID target, with mineralisation open under cover and comparable to ore currently mined by the Robe River JV. Arrow plans to drill test the tenement E08/3668 promptly to define the scale and quality of the iron ore, guide its decision on exercising the option over the two additional tenements, and assess potential strike extensions of copper-gold mineralisation at the nearby Ava target.