Iron

Northern Iron Corp. (CVE:NFE) reported the second set of three drill holes on the Karas property, including 12 metres grading 46.17% Fe2O3.

Northern Iron Corp. (TSXV:NFE) reported the second set of three drill holes on the Karas property, including 12 metres grading 46.17% Fe2O3.

Northern’s President and CEO, Basil Botha says,

The results of these three holes, together with the data from the first two holes released on 6th September exceed management’s expectations for the Karas property. The current high grades that are being intersected and previously conducted geophysics would indicate that Karas has excellent potential as a minable target.

The press release is quoted as saying,

As interpreted from the drill hole section, the ore body is still open on the northern end and its true thickness exceeds 350m, dipping between 70 and 80 degrees towards the northwest. Magnetite mineralization starts right at surface in the majority of the drilled holes, with a maximum overburden thickness of less than 5 metres. The iron formation shows minor schist beds interbedded with the magnetite rich banded iron formation (BIF), and ends sharply in migmatitic schist towards the southern end.

For the complete press release, click here.  

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