Canadian Orebodies Stakes New Iron Property Near Haig Inlet Iron Ore Project

Canadian Orebodies Inc. (TSXV:CO) announced it has staked claims covering over 9,600 hectares in Canada.

As quoted in the press release,

The area staked by Orebodies covers over 9,600 hectares of Municipal Land on the western coast of Flaherty Island to the west of Haig Inlet. Results of historic magnetic geophysical surveying carried out over the Staked Claims during the 1950′s by Belcher Mining Corporation Ltd. indicate magnetic signatures comparable to those occurring on the Haig Inlet Property. The defined magnetic signature trends over the entire 29.4km length of the Staked Claims, and was verified to be iron formation through ground truthing where an outcropping of the formation directly coincided with the magnetic signature. The formation is interpreted to be a parallel western extension of the Kipalu Formation of iron-bearing rocks, which is the same formation being targeted at Haig Inlet. The Staked Claims are considered to contain a highly prospective exploration target area, which possesses strong potential for the discovery of additional iron mineralization that Orebodies believes could be amenable to open pit mining.

Click here to read the Canadian Orebodies Inc. (TSXV:CO) press release.