Advanced Explorations (OTC Other: ADEXF; TSX-V: AXI) has two 43-101 compliant mineral resource estimates for its Roche Bay Iron Ore Property, including on the C-Zone and the A/B Zone. As part of the ongoing feasibility study on the C-Zone:
- The resource estimate now includes 501 million tonnes in the Indicated category averaging 26.35% total iron (25.67 % magnetic iron) at a 20% iron cut-off grade;
- A further 66 million tonnes averaging 26.37% total iron (25.72 % magnetic iron) at a 20% iron cut-off remains in the Inferred category; and
- In comparison to the previous resource estimate (as press released April 06, 2011) the Indicated resource has increased by approximately 55%.
Highlights from the Company’s initial mineral resource estimate on the A/B Zone include the following:
- The initial resource estimate for the A/B Zone is 92 million tonnes in the Inferred category averaging 24.64% total iron at a 20% iron cut-off grade;
- The A/B Zone is located approximately 5 kilometres to the north east of C-Zone and is part of the same Banded Iron Formation;
- The area included in the Inferred resource represents only a small portion of the actual A/B Zone magnetic footprint; and
- Drill holes used in this Inferred estimate were part of the 2008 drill campaign and historical holes drilled in 1982 by Borealis Exploration.