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Baffinland Makes New Iron Ore Discovery

By Joel ScanlonNov 24 2010

Baffinland Iron Mines Corporation’s value has shot up again as the company claims fresh high grade deposits of iron ore in Nunavut. This new discovery is part of the company’s 2010 plan for regional exploration of its Mary River project. The find comes from No.9 deposit where surface sampling had an average of 70.3% iron in an east south easterly striking zone.

The mineral zone was expected to be about 15 km in strike length as per preliminary interpretation of data collected from airborne magnetic tests. The company follows a specific sampling protocol and methodology to see that its exploration sampling is a correct representation of the mineralization of the property.

Chairman and Acting CEO of Baffinland Richard McCloskey said that the exploration efforts have provided support for the strong belief of the company that they have a mining district with considerable long term potential.

He also said that the mining of these deposits will have long lasting benefits for the people of Nunavut Territory and all those that contribute towards the successful development thereof. Naturally the company which has received two rival takeover bids will have even more to offer in terms of value now.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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