Canadian Orebodies Inc. has announced that it has staked claims covering over 9,600 hectares on the Belcher Islands, Nunavut.
The area staked by Orebodies covers over 9,600 hectares of Municipal Land on the western coast of Flaherty Island to the west of Haig Inlet. Results of historic magnetic geophysical surveying carried out over the Staked Claims during the 1950's by Belcher Mining Corporation Ltd. indicate magnetic signatures comparable to those occurring on the Haig Inlet Property. The defined magnetic signature trends over the entire 29.4km length of the Staked Claims, and was verified to be iron formation through ground truthing where an outcropping of the formation directly coincided with the magnetic signature. The formation is interpreted to be a parallel western extension of the Kipalu Formation of iron-bearing rocks, which is the same formation being targeted at Haig Inlet. The Staked Claims are considered to contain a highly prospective exploration target area, which possesses strong potential for the discovery of additional iron mineralization that Orebodies believes could be amenable to open pit mining.
"These newly staked claims represent another significant land package with excellent exploration potential," said Gordon McKinnon, President & CEO of Canadian Orebodies. "The claims cover over 29km of what the company believes to be new strike length of iron formation."
In total, Orebodies' land position on the Belcher Islands now encompasses over 22,100 hectares of Municipal Land and 2,680 hectares of Inuit Owned Land. An updated map showing Orebodies' land position in the area around Haig Inlet is available on the company website at: http://www.canadianorebodies.com/s/HaigInletIronOre.asp.
Source: www.canadianorebodies.com