Black Iron, an iron ore exploration and development firm, has announced that it has received further assay results from the definition and exploration (DE) diamond drilling campaign carried out at the Shymanivske iron ore project located in Ukraine.
The company is encouraged by the infill drilling results and the thick iron band intercepts, which are beyond 50 m, in every hole. It cut 35.2% iron over 60.2 m, 33.3% iron over 95.0 m and 32.3% iron over 141.0 m in hole BISH-31, 32.6% iron over 52.0 m and 32.2% iron over 56.0 m in hole BISH-33; and 33.7% iron over 21.0 m and 30.8% iron over 19.5 m in hole BISH-35.
As a part of the 12,000 m DE drilling program performed between July and December of 2011, the company had drilled three holes, namely BISH-31, BISH-33, and BISH-35. This DE drill campaign will specifically result in a part of the resource that was classified formerly as inferred moving to the indicated and measured category in the subsequent NI 43-101 compliant resource report.
Ukraine-based GeoResources carried out the drilling program. Metallurgical test work on the recovered drill core was completed by Mekhanobrchermet from Ukraine.
Drilling is not presently carried out at the Shymanivske iron ore project, as the company is waiting for further permits required for the drilling program. Further drilling is not needed to finish the feasibility study and may be performed in future to possibly increase the pit resource calculation.
Source: http://www.blackiron.com/
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