Black Iron has reported further assay results from the definition and exploration (DE) diamond drilling carried out at its Shymanivske iron ore project located in Ukraine.
The company is encouraged by the favorable infill drilling results and the thick iron band intersections in every hole together with grades that surpass 30% iron. Black Iron encountered 31.3% iron over 62.9 m and 32.5% iron over 88.0 m in hole BISH-21, 34.4% iron over 14.5 m and 31.7% iron over 96.6 m in hole BISH-22, 33.2% iron over 77.0 m, and 32.8% iron over 119.0 m in hole BISH-24.
The company carried out a 12,000 m of DE drill program between July 2011 and December 2011 and drilled three drill holes, namely BISH-21, BISH-22, and BISH-24. The DE drilling campaign will lead to a part of the resources that was classified formerly as inferred shifting to move into the indicated and measured category in the subsequent NI 43-101 compliant resource report.
Ukraine-based GeoResources performed the drilling program. The independent metallurgical test work was completed by Ukraine-based Mekhanobrchermet on the recovered drill core. No drilling is being carried out at the Shymanivske iron ore project and the company is in the process of obtaining further approvals necessary for the drilling program. The company did not require further drill program to conclude the feasibility study and this drilling may be performed in future to possibly expand the in pit resource estimate.
Source: http://www.blackiron.com/
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