January 30, 2012
On the last day of Roundup, Vancouver’s mining showcase, Sandy Chim CEO of Canada’s Century Iron Mines, flashed a few slides about China, India and the iron ore market over the last decade that would make gold bugs green with envy.
BHP, Vale and Rio Tinto control nearly 70% of the 1 billion tonne annual iron ore seaborne trade and pretty much all contract pricing depend on their say so. The price of 62% iron ore never strayed from $10 – 14/tonne for more than 20 years (1991 was a banner year – miners got all of $15.03 for their haul). The state of affairs was due to secretive negotiations and annual contracts.
Then at the end of 2004 all hell (for Chinese steelmakers that is) broke loose. The Big 3 decided enough is enough and put up the price 72%, marking the start of a supercycle and the beginning of the end of the old pricing system.
January 17, 2012
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.
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”.