New Millennium Iron (NML) has reported the drill core assay results from the Lac Ritchie property. The company completed drilling at this property in October 2011. It has drilled 3,800 m, totaling 40 holes. NML has obtained assay results for 15 holes out of the 40 holes from Lac Ritchie.
NML’s CEO and President, Dean Journeaux, stated that these assay results were identical to those received from KéMag and LabMag and have continued the trend depending on the aero magnetic survey results from Millennium Iron Range. Additionally, these results have shown the possibility for housing a huge magnetic taconite deposit at the property. The region has enclosed magnetic mineralization of 30 sq. km. Magnetic mineralized structures of 50 m are present, depending on the drilled 40 holes. NML will release the remaining hole results once it is obtained.
The company shipped the drill core samples, half cores to Midland Research Center Laboratory (MRC) in Minnesota, USA, on a regular basis for testing and assessment. The drill core is tested for Total Iron. With the help of Davis Tube, the magnetite concentrate is obtained and denoted as Davis Tube Weight Recovery percent (DTWR %). This magnetite concentrate is examined for silica and iron. Currently, the Lac Ritchie taconite averages 30.86% of iron along with 30.05% of DTWR. The concentrate of Davis Tube has averaged 67.74% of iron and 4.35% of SiO2.
Source: http://nmliron.com/