Northern Iron has announced the next set of assay results of three drill holes from the Karas property.
These holes have been drilled till the iron structure’s south edge, which remains open at the depth and to the north. Mineralized magnetite is present consistently between the drill holes and it returns 46.17% Fe2O3 over 12 m, confirming fine association.
The company has drilled 17 holes out of the 30 proposed holes, which is around 10,000 m, at the property.
The CEO and President of Northern Iron, has stated that the expectations of the company for the property has surpassed due to the report of the three holes results along with the initial two holes data. The Kara property is a prospective minable target, which is signified by the existing high-grade resource that were subjected to intersection and former geophysics program
The orientation of the drill holes present in the segment, KA-11-01, KA-11-02, KA-11-03, KA-11-04, KA-11-05, KA-11-06, KA-11-13, KA-11-13R and KA-11-14, is 160° and these holes begin with an angle dip of 50°.
The ore body, whose true width goes beyond 350 m, remains open at the north end and it dips between 70° and 80° to the northwest direction. Mineralization of the magnetite begins at the surface in most of the drill holes. Slight schist beds that are interbedded with the banded iron formation (BIF), which is rich in magnetite, are present in the iron structure. This formation ends in a migmatitic schist to the south.
Following a visual core assessment, the holes 13, 13B and 14 is showing that the magnetite mineralization is continuing at depth and to the north. These holes are collared in magnetite. After drilling to a total length of 475 m, the hole Ka-11-14 stops at the magnetite mineralization.
Source: http://www.northernironcorp.com/