Alderon Iron Ore has started the winter drill program of 2012 at the Kamistiatusset (Kami) iron ore project in West Labrador.
The target of the four month drilling will be North Rose. Drilling up to 18,000 m using six drill rigs will be performed in this four month program. Infill drilling will be the main focus of the program, having an objective of improving the present mineral resource into the indicated and measured categories to plan for the feasibility study that is anticipated in the third quarter of 2012.
According to Tayfun Eldem, who is Alderon’s CEO and president, the company is delighted to conduct the 2012 drill program and recommence drilling at North Rose. The company is expecting to build on the 2011 program success, since it is working to improve the resource before the feasibility study completion in the third quarter. The final drill stage has moved the development phase to production at the Kami project.
North Rose, along with Mills Lake and Rose Central, have a NI 43-101 indicated resource, which is outlined presently, of 490 Mt at 30.0% iron and a further inferred resource of 598 Mt at 30.3% iron.