Advanced Explorations (OTC Other: ADEXF; TSX-V: AXI) has returned 44.35 metres of quality banded iron formation (BIF) grading 32% Fe within a broader 148.37 metre interval of BIF grading approximately 31% Fe.
According to John Gingerich, President and CEO, “We are very pleased with the assay results from the first five drill holes from our Tuktu Project as they continue to demonstrate higher grade Banded Iron Formation (BIF) associated with Tuktu 1. The mineralization appears to be very consistent over the entire drilled BIF interval. Ground magnetometer surveying affirms the previous limits of the Tuktu 1 deposit being 2,600 metres in strike and up to 700 metres in width locally. The apparent consistency and thicknesses of the BIF grades reported to date bodes well for the project. Our goal is to complete a NI 43-101 compliant resource estimate for Tuktu this fall, and the program is on track to meet this objective.”