January 13, 2012
Advanced Explorations (OTC Other: ADEXF; TSX-V: AXI) has filed a National Instrument (NI) 43-101 compliant mineral resource estimate for its Tuktu Iron Project located in Nunavut, Canada, approximately 60km north of the company’s flagship Roche Bay Iron Project and 70 km west of the hamlet of Hall Beach (www.sedar.com).
According to John Gingerich, President and CEO of Advanced Explorations, “The resource estimate lays a solid foundation to undertake an economic assessment as to the conventional exploitation of the Tuktu 1 deposit. With additional drilling along strike and extending the depth, AEI believes it can substantially increase the size of this resource. While this is a very important next step, the Company will also look to assess the potential of defining a resource associated with the high grade direct-ship-ore type samples (over 62% Fe) taken from the Tuktu 2 area located 10 km southeast of the Tuktu 1 deposit.”
January 10, 2012
Advanced Explorations Inc. (OTC Other: ADEXF; TSX-V: AXI) has been advised that XinXing Ductile Iron Pipes (“XDIP”) proposes to establish a specific purpose, wholly-owned Hong Kong based subsidiary for purposes of completing the $5 million convertible debenture financing. XDIP indicated that the Hong Kong company will serve as a platform for the successful completion of the Financing and will also help facilitate the development of the Roche Bay Iron Project. The formation of this subsidiary is necessary to obtain required Chinese government consents and approvals, and XDIP is confident in securing same in a timely manner.
January 4, 2012
BabyBulls (SAN DIEGO) – BabyBulls recently spoke with John Gingerich, President & CEO of Advanced Explorations (OTC Other: ADEXF; TSX-V: AXI), during which time John elaborated on the Company’s flagship Roche Bay iron ore property. John brings investors up to speed on the project, including discussions on recent drill results, resource estimates and anticipated future events.
December 30, 2011
Advanced Explorations (OTC Other: ADEXF; TSX-V: AXI) and 7th Sea Holding Company have terminated their option agreement as a result of not being able to reach mutually satisfactory terms. Advanced Explorations will continue to ensure that its highest priority projects, including Roche Bay and Tuktu, are fully supported.
According to John Gingerich, President and CEO of the Company, “The Company’s primary commitment is the Roche Bay development opportunity. In addition to advancing our flagship iron projects, we are also focusing on the restructuring process of our West Melville holdings. The copper-nickel and copper-silver properties are emerging as a very important opportunity with the potential to add significant future value to our shareholders. AEI expects to provide an update on the partnering/spin-out prospects of these assets early in the New Year.”
November 29, 2011
Advanced Explorations Inc. (TSX-V: AXI; OTC: ADEXF) announced today its initial inferred resource estimate of 465 million tonnes of 31.1% total iron for the Tuktu Magnetite Project located in Nunavut, Canada, approximately 60km north of the company’s flagship Roche Bay magnetite Project and 70 km west of the hamlet of Hall Beach. The National Instrument (NI) 43-101 compliant Inferred Mineral Resource estimate was completed by APEX Geoscience Ltd. (“APEX”) in conformance with the CIM Standards of Disclosure for Mineral Projects.
In the release, John Gingerich, President and CEO of AXI stated: “The 465 million tonne Tuktu resource estimate is extremely encouraging given the remarkable consistency of the average grade (31.1%) regardless of the cut-off grade used. With drill tested widths up to 400 m and the depth ranging from 200-250m, there is significant opportunity to increase the resource at depth and along the 400 m of untested strike. Metallurgical work on drill core samples will commence soon but based on an initial review, we expect these ores to have similar beneficiation characteristics as the A, B and C Zones at our Roche Bay iron project. With the previously released results from the C-Zone (April 6, 2011) the Company’s has now delineated over 1 billion tonnes of iron ore on its Roche Bay and Tuktu iron properties consisting of an NI 43-101 compliant resource of the Roche Bay Project’s C-Zone with 323 million tonnes in the indicated category and 226 million tonnes in the inferred category, as well as the new resource estimate for Tuktu at 465 million tonnes. The updated C-Zone and new A/B Zone resource estimates should continue to add to our total resource base. The ongoing confirmation of historic resources at Roche Bay and the discovery of additional iron ore at Tuktu further validate the importance of this emerging Melville Peninsula iron district”.
November 25, 2011
Advanced Explorations (OTC Other: ADEXF; TSX-V: AXI) has completed its 2011 exploration program on the western portion of the Melville Peninsula, Nunavut, where it discovered a new Nickel-Copper-Cobalt and Copper-Silver-Gold mineralization.
According to John Gingerich, President and CEO of Advanced Explorations, “We are very pleased with the quality of the prospects that have been defined to date and encouraged by the strike extent of the mineralized trends which in some cases extend up to 10 km. With the Company’s very large land holdings in favorable geological terrains and over 350 gossans reported by Geological Survey of Canada (“GSC”) mapping visible from the air, we were only able to scratch the surface as to the area’s true potential. The prospect of discovering high grade Ni-Cu and Cu-Ag-Au systems provides the opportunity to create additional shareholder value through possible partnerships and/or spin-offs while AEI remains focused on the development of its core iron ore assets.”
November 9, 2011
Advanced Explorations (OTC Other: ADEXF; TSX-V: AXI) has partnered with the nearby community of Hall Beach to form the Roche Bay Project Committee in order to assist in the advancement of the project through the permitting process. In a letter by Hall Beach Mayor Ammie Kipsigak, the community expressed its support of the Roche Bay Project, a copy of which is available here.
According to John Gingerich, President and CEO, “An excellent relationship with the communities at Roche Bay is a key success factor for our project and an important part of our corporate strategy. As a result, the Roche Bay Project Committee was formed with the Hall Beach community to further promote and emphasize this very important direct dialogue with our stakeholders.”
October 31, 2011
Advanced Explorations (OTC Other: ADEXF; TSX-V: AXI) has entered into an agreement with XinXing Ductile Iron Pipes Co. Ltd. (“XinXing”) involving a $5,000,000 convertible debenture. This financing follows the execution by the Company and XinXing of the previously disclosed Framework Agreement in 2010, providing for the completion of feasibility assessments to bring the Company’s Roche Bay project to commercial operation.
The Debenture will be non-interest bearing, have a term of 24 months from the date of initial advance of funds, and be convertible prior to maturity and repayment at any time in whole or from time to time for common shares at a conversion price of $0.45 per common share. If fully converted, the Debenture would result in the issuance of 11,111,111 common shares.
The proceeds from the Financing will be used for advancing AEI’s Roche Bay Feasibility Project and other general corporate purposes.
October 26, 2011
Advanced Explorations (OTC Other: ADEXF; TSX-V: AXI) has reported the first set of assay results from the 2011 geophysical prospecting program at the Tuktu Iron Project located within 60 km north of the Company’s Roche Bay Iron Project on the east coast of the Melville Peninsula, Nunavut. High grade samples of 63.85% and 62.26% iron respectively were taken from banded iron formation (“BIF”) on the HABS 2 claim located approximately 6 km from the south-east portion of the Tuktu deposit where a 2011 drill program is about to deliver an initial NI 43-101 compliant resource estimate.
According to John Gingerich, President and CEO, “We are very encouraged by this recent high grade discovery at our Tuktu Project as we believed to see similar grades as Baffin Island’s Mary River deposit within our property, based on the steadily increasing iron values found during this summer’s drill program. The sample results clearly indicate a potential for direct ship ore from Tuktu and with the feasibility study for the Roche Bay Project’s C Zone near completion, these impressive results for Tuktu add further production dimensions to the Roche Bay Project. Considering its close proximity, high grade ore mined at Tuktu could be direct shipped using Roche Bay infrastructure. As Roche Bay is at a very advanced stage, this discovery also adds significant flexibility to the development scenarios within the Melville Peninsula iron district.”
October 18, 2011
Advanced Explorations Inc. (TSX-V: AXI; OTC Other: ADEXF) announced today final drill results from its Tuktu Iron Ore Project located in Nunavut, Canada. Results show that drill-hole 11TT018 contained an interval of 196 m of 31.32% iron. This hole further demonstrates the quality of banded iron formation (“BIF”) at the Tuktu 1 deposit. Drill-hole 11TT019 was collared in the granite with the purpose of locating the banded iron formation contact at depth while confirming the dip angle of the hanging wall for the resource block-model which is expected to be released within Q4 of this year A plan map showing drill-hole locations and a complete table of all released drill results can be found on the company website at http://www.advanced-exploration.com.
In the release, John Gingerich, President and CEO, stated: “The Company is pleased with the successful completion of the Tuktu 1 drill program. Our focus now is completing the NI 43-101 resource estimate expected to be released soon. The drilling at Tuktu 1 has tested only about 10% of the BIF strike within the Tuktu claim group indicating the resource potential of this area. Together with the other strike extensive BIF in the Roche Bay area, the Melville Peninisula is emerging as a significant iron ore district. We have accomplished much in 2011, and through drilling, mapping, sampling and observation, our understanding and knowledge of the Banded Iron Formations and the associated rock suites of the Melville Peninsula continues to grow”.