Rogue Iron Ore Intersects 373 Meters of 34% Total Iron
-- OTHER HIGHLIGHTS INCLUDE 132 METERS OF 41% (29.5% DTWR) TOTAL IRON AND 99 METERS OF 44% TOTAL IRON (35.3% DTWR) -- 38 HOLES COMPLETED; 9,800 METERS COMPLETED OF 10,500 METER DRILL PROGRAM -- PROPERTY ALSO CONTAINS 12KM LONG NAT RIVER IRON FORMATION WHERE PRELIMINARY EXPLORATION/SURFACE WORK IS NOW UNDERWAY -- ON-SITE INFRASTRUCTURE INCLUDES CN RAILWAY MAINLINE & SIDING, PROVINCIAL HIGHWAY, POWER AND WATER
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/08/12 -- Rogue Iron Ore Corp. (TSX VENTURE: RRS) (the "Company") is pleased to announce results from drilling at its Radio Hill Iron Ore Project, located 80 km southwest of Timmins, Ontario. Drill Hole RH-11-26, cut 373 meters of 34% total iron (20% DTWR) of banded iron formation (BIF) and drill hole RH-11-29 intersected three intervals of higher iron grade BIF totalling 336 meters with between 37% and 44% total iron (23 and 35% DTWR). Both holes show the width and depth potential at Radio Hill. The reported results were drilled through the western limit of the thickened portion of the iron formation. RH-11-29 included one 99 meter section returning 44% total iron and 35% DTWR which is high grade material for a taconite deposit. Several drill holes show that additional high grade material is located at depth (see section 2410E). The current 10,500 meter drill program began in August 2011 will be completed this month with the objective of outlining a NI 43-101 complaint resource estimate.
To view updated sections of recent drilling please click on the following link:
"Results continue to show the potential of high-grade iron zones at Radio Hill and how they may affect the overall resource. Metallurgical testing and ore characterization now underway will help explain the varying grades of taconite mineralization and how they may affect future production scenarios," commented Company President & CEO, Stephen de Jong. "The high grade material at depth is important as historical resource definition did not sufficiently define the deeper portion of the iron formation."
To view a drilling plan map showing the latest results please click here:
As of May 02, 2012, the Company has completed 38 holes at Radio Hill for a total of about 9,800 meters since commencing in late 2011. The first phase of drilling tested the geological constraints along the southern boundary whereas more recent drilling has focused on the center of the deposit where the iron formation is thickened by isoclinal folding. The outcome of the current drill program will be a NI 43-101 compliant resource estimate.
The Company has also completed a ground magnetics survey on a portion of the 12 km strike length of the Nat River iron formation, located 6 km to the east of the Radio Hill iron deposit. This work will help with targeting for preliminary drilling on the Nat River iron formation, this coming season.
ABOUT RADIO HILL
Radio Hill is a taconite (magnetite) iron formation located 85 southwest of Timmins and is accessed by Highway 101. Original exploration work at Radio Hill was conducted in the 1960s, when iron ore prices were less than one fifth of what they are today. Although low prices existed the project still had a feasibility study completed and a market secured. Since that time ownership of the asset has been fragmented and with various landholders owning various parts of the deposit. Over the past 50 years little to no iron exploration work took place until Rogue acquired both the historical resource and the surrounding 12,000 hectares of highly prospective ground including the 12km Nat River Iron Formation. The property is transected by a heavy gauge portion of the CN Rail mainline at the active Kukatush rail siding. There is power and water within kilometers of the present drilling.
QUALITY CONTROL AND ASSURANCE
All drill core samples have been split and shipped by the Company to SGS Lakefield, where the samples are prepared and analyzed by fusion with lithium tetraborate-XRF for SiO2, Al2O3, CaO, Fe2O3, K2O, MgO, TiO2, P, Mn and Cr2O3, and retained moisture (LOI) by multi-temperature. Sulphur and sulphide analysis is done separate to the XRF analysis. Satmagan readings are done on each sample. A magnetite concentrate for some holes is produced using Davis Tube concentrator (DT) giving a weight recovery percentage (DTWR). The concentrate is then analysed by XRF for SiO2, Al2O3, CaO, Fe2O3, K2O, MgO, TiO2, P, Mn and Cr2O3 and retained moisture (LOI) by multi-temperature. The company inserts systematic duplicates, blanks and standard samples every 30 samples to verify and assure acceptable consistency of analysis. The samples are analyzed at SGS Labs in Lakefield Ontario. SGS is an internationally recognized leader in iron ore analysis. Kevin Montgomery, P.Geo., is the qualified person for the purposes of National Instrument 43-101 and has reviewed the technical contents of this press release.
X-ray fluorescence (XRF) spectroscopy is commonly used to determine the iron grade of a deposit, reported as 'total iron'. In the case of taconite iron formations where the mineral of interest is magnetite, a strongly magnetic mineral, a direct physical measurement is conducted using the Davis Tube test technique. In the instance of Radio Hill the Davis Tube results are the most important parameter, since it is this parameter that is used to calculate mineral resource estimates.
ABOUT ROGUE IRON ORE CORP.
Rogue Iron Ore is an iron exploration and development company with offices in Vancouver BC, and Timmins, ON. The Company's primary asset is its Radio Hill Iron Project located 85km southwest of Timmins, Ontario.
Key Company milestones expected in the near term are:
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong, President & CEO
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Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release constitutes forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the Company's planned exploration activities, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
Rogue Iron Ore Corp.
Mike McCormick
Investor Relations
(604) 638-1157
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Datum: 08.05.2012 - 12:30 Uhr
Sprache: Deutsch
News-ID 143802
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