Thu, Sep01,2011
Advanced Explorations Inc announced further drill results from its Tuktu Iron Ore Project located in Nunavut, Canada. Drill-hole 11TT011 intercepted 8 metres of high quality banded iron formation grading 50.27% Fe within a broader 165.25 meter interval of BIF grading 33.61% Fe. The same broad interval also included 14 metres of 46.34% iron.
Drill-hole 11TT011 was collared approximately 125 metres ahead of drill-hole 11TT010 and drilled on the same section at the same azimuth and dip. Together the holes have intersected the footwall and hanging wall contacts of the BIF and results indicate that the width of the section is just over 300 metres wide carrying a grade of over 33% iron. The depth of the section has not been established.
Mr John Gingerich president and CEO said that "We are excited by the consistent high grade, plus 50% Fe, banded iron formation being intersected at Tuktu 1. The broad intervals of greater than 33% Fe define an exceptional magnetite rich BIF deposit. Tuktu is emerging as an important asset adding value to the business development scenarios of the region."
AEI expects the remaining Tuktu 1 drilling assays to be received in the near future which will allow us to initiate the NI 43-101 compliant resource estimate. The Company also plans to initiate metallurgical studies to better understand the Project's development options.
Advanced Explorations Inc announced further drill results from its Tuktu Iron Ore Project located in Nunavut, Canada. Drill-hole 11TT011 intercepted 8 metres of high quality banded iron formation grading 50.27% Fe within a broader 165.25 meter interval of BIF grading 33.61% Fe. The same broad interval also included 14 metres of 46.34% iron.
Drill-hole 11TT011 was collared approximately 125 metres ahead of drill-hole 11TT010 and drilled on the same section at the same azimuth and dip. Together the holes have intersected the footwall and hanging wall contacts of the BIF and results indicate that the width of the section is just over 300 metres wide carrying a grade of over 33% iron. The depth of the section has not been established.
Mr John Gingerich president and CEO said that "We are excited by the consistent high grade, plus 50% Fe, banded iron formation being intersected at Tuktu 1. The broad intervals of greater than 33% Fe define an exceptional magnetite rich BIF deposit. Tuktu is emerging as an important asset adding value to the business development scenarios of the region."
AEI expects the remaining Tuktu 1 drilling assays to be received in the near future which will allow us to initiate the NI 43-101 compliant resource estimate. The Company also plans to initiate metallurgical studies to better understand the Project's development options.
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