Ferrum Americas Mining Inc. (TSXV:FEM) announced that drilling at its Bolivia-based Cerro Rojo iron ore project returned the highest-grading results to date, commenting that hole CR12-16 intersected 94.4 meters grading 52.1 percent iron, including a higher-grading interval of 36 meters grading 56.4 percent iron.
As quoted in the press release:
Hole CR12‐17, located 200 metres west of Hole CR12‐16 along strike, intersected 59.3 metres grading 52.4% Fe. Both holes intersected banded iron ore mineralization from surface.
These holes were successful in extending known mineralization along strike to the west by approximately 1,000 metres from drill hole CR12‐15 which intersected 50.8% Fe across 92.8 metres (See Press Release November 15, 2012).