Advanced Explorations (OTC Other: ADEXF; TSX-V: AXI), in drill-hole 11TT011, intercepted 8 metres of high quality banded iron formation (BIF) grading 50.27% Fe within a broader 165.25 metre interval of BIF grading 33.61% Fe. The same broad interval also included 14 metres of 46.34% iron.
According to John Gingerich, President and CEO, “We are excited by the consistent high grade, plus 50% Fe, banded iron formation being intersected at Tuktu 1. The broad intervals of greater than 33% Fe define an exceptional magnetite rich BIF deposit. Tuktu is emerging as an important asset adding value to the business development scenarios of the region.”