Alderon Reports Results From Mills Lake in Preparation for Upgraded Resource

Alderon Iron Ore Corp. (TSXV:ADV,OTCQX:ALDFF) announced the first set of drill results from the ongoing drill program on the Kami iron ore project.

As quoted in the press release,

The Mills Lake Zone is located approximately 3 kilometers southeast of the Rose Zone, which together have a currently defined NI 43-101 indicated resource of 490 million tonnes at 30.0% iron and an additional inferred resource of 598 million tonnes at 30.3% iron.

Alderon’s President and CEO, Tayfun Eldem said,

We are very pleased to be intersecting the expected grade and thickness during our infill drilling program. We are well on our way to upgrading our resource from the inferred to indicated category in order to produce a Feasibility Study in Q3 of 2012.

Click here for Alderon Iron Ore Corp. (TSXV:ADV,OTCQX:ALDFF) press release.