Advanced Exploration (OTC Other: ADEXF; TSX-V: AXI) has intercepted 9.04 metres of quality banded iron formation (“BIF”) grading 50.19% Fe within a broader 283.07 metre interval of BIF grading 32.36% Fe.
According to John Gingerich, President and CEO, “The Tuktu assay results continue to impress us. We are reporting very long intercepts of 32% to 33% iron, and now we have found a high grade lens that grades over 50% iron in drill-hole 11TT008. This is a very significant discovery and represents some of the highest grade iron we have found on the Melville Peninsula. Unfortunately, this hole terminated within high grade BIF and thus, the full extent is not known. Defining the surface exposure along with strike and width of the high grade lens is an important next step to defining the potential of direct ship ore (“DSO”) at Tuktu.”