DGAP-News: Femin Inc.: FEMIN'S INITIAL 4,500 METRE DRILL PROGRAM IS NEARING COMPLETION WITH ALMOST 4,000 METRES DRILLED
(firmenpresse) - DGAP-News: Femin Inc. / Key word(s): Miscellaneous
Femin Inc.: FEMIN'S INITIAL 4,500 METRE DRILL PROGRAM IS NEARING
COMPLETION WITH ALMOST 4,000 METRES DRILLED
05.10.2011 / 14:17
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Toronto - Femin Inc. (FRA-FJM) ('Femin') is pleased to announce that as of
September 30, 2011 it had completed nearly 4,000m of drilling on the Febra
Project in Bahia, Brazil. The addition of the second drill contractor,
Geologica Sondagens Ltda, as detailed in our August 26, 2011 news release,
has significantly increased the rate of drilling on the property. Phase
One's 4,500m drill program is expected to be completed this month. Phase
Two's 2,000m program is expected to be completed in November 2011.
Febra's Phase Two drill program was created as a result of virtually all of
Phase One's drill holes ending in the iron formation indicating that the
deposit has further ore deeper originally understood. Phase One's hole
lengths were scheduled to be 100 to 200 metres depending on the location.
As our drill program progressed, management recognized that the iron
formation went deeper than expected. With the opportunity to expand the
resource further at depth, hole depths were increase to 250-300 metres in
some instances. Phase Two's program allows for us to continue with the
extended length holes without reducing the total number of holes drilled
along strike.
Femin Inc.'s Chairman and CEO Alexander Stewart was quoted 'We are very
happy with the addition of Geologica Sondagens. They are drilling 24 hours
a day and they are scheduled to complete their contract ahead of schedule.
As a result our NI 43-101 (JORC) is expected to be on schedule for the
fourth quarter of 2011.'
** END OF PRESS RELEASE **
About Femin Inc.
Femin Inc. is a mineral exploration and development company located in
Toronto, Canada. The Company was established in 2010 and its primary focus
is the Febra Iron Project, which is a substantial iron deposit located in
the State of Bahia, Brazil. Femin's management team has extensive
experience in the exploration and development of mineral deposits all over
the world. Femin Inc.'s shares (Wkn: A1H50Q / ISIN: CA31502Y1034) are
listed for trading on the Frankfurt Stock Exchange, Open Market.
This news release may contain certain forward-looking statements,
expectations, intentions, strategies and beliefs regarding the future. All
statements contained herein are based upon information available to the
management of Femin Inc. as of the date hereof, and actual results may vary
based upon future events, both within and without the control of the
management, including risks and uncertainties that could cause actual
results to differ materially.
Management does not take any responsibility to update the contents of this
News Release in case new aspects arise or new conditions change the facts
available.
Femin Inc. 2500 - 120 Adelaide Street West, Toronto/Canada, M5H 1T1
For further information, please contact:
Alexander Stewart, CEO
Phone: (416) 644-1179
E-mail:astewart(at)femin.ca
Stephen Stewart, VP
Phone : (416) 644-1179
Email : sstewart(at)femin.ca
Homepage: www.femin.ca
End of Corporate News
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05.10.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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141333 05.10.2011
Themen in dieser Pressemitteilung:
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500-metre-drill-program-is-nearing-completion-with-almost-4
000-metres-drilled
Unternehmensinformation / Kurzprofil:
Datum: 05.10.2011 - 14:17 Uhr
Sprache: Deutsch
News-ID 72905
Anzahl Zeichen: 5363
contact information:
Kategorie:
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