Arrow Minerals expands Pilbara landholding past 1,600km2

• Arrow Minerals agreed to buy the Turee Creek project and submitted 12 new exploration applications in the Pilbara region.
• Arrow Minerals shares rose to $0.031 following the announcement.
• The deal and applications aim to expand the company's regional exploration footprint by more than 400%.

Arrow Minerals (ASX:AMD) signed a binding agreement to acquire the Turee Creek Iron Ore Project while lodging 12 new exploration applications in Western Australia's Pilbara region.

The moves will expand the company's exploration area by more than 400% to over 1,600km2.

"We are fast building a potentially company-making land position in the heart of the world-class Pilbara iron ore province," said Arrow Minerals Managing Director David Flanagan.

The acquisition includes tenements that cover a 48km strike extent of the Brockman Iron Formation located approximately 40km from existing mining operations.

The company stated that it will target staged export operations using existing port infrastructure in the region.

Following the announcement, the Arrow Minerals share price was up at $0.031.

The newly applied ground was previously held by major mining companies before corporate strategy changes made the land available.

Three of the new tenement applications sit within 60km of a bulk commodity export port constructed for new exporters.