Black Iron, an iron ore exploration and development company, has announced further assay results from the definition and exploration diamond drill campaign at its Shymanivske Iron Ore Project located in Ukraine.
Positive results have been obtained from infill drilling and iron bands have been intersected in all the holes with grades containing more than 30% iron. BISH-3 hole encountered 97.0 m grading 33.1% iron, which is a significant value, BISH-4 hole intersected 58.0 m grading 30.6% iron, and BISH-2 hole intersected 55.5 m grading 32.0% iron.
BISH-2, BISH-3 and BISH-4 drill holes constitute a part of the 20,000 m definition and exploration drill campaign, which was started on October 26, 2011. This campaign was performed to revise the mineral resource categorization and enable a massive mineral resource estimate in the current feasibility study. In addition, this campaign will target the exploration holes in the property’s northern end, wherein additional mineral resource seems to exist.
Ukraine-based GeoResources has been engaged by the company to perform the drill campaign under the guidance of Watts, Griffis and McOuat, and engineers and geologists from Toronto, who will make sure that all lab and field activities are perfumeries as per the National Instrument 43-101 standards and guidelines.
Additionally, Black Iron has engaged Mekhanobrchermet (Research Institute of Mineral Processing in Ferrous Metals) from Ukraine to perform metallurgical testing on the recovered drill core.
Black Iron is waiting for additional permissions to drill. Drilling has not been started yet at the Shymanisvke project.
Source: http://www.blackiron.com/