Black Iron continues to confirm historical results at Shymanivske with grades of over 33% iron

Black Iron (TSE:BKI) reported Thursday additional "encouraging" drill results from its recently completed confirmation diamond drill program at its Shymanivske iron ore project in Krivoy Rog, Ukraine.
Twin hole 20347-T intersected 55.9 metres grading 33.8% iron, while twin hole 20289-T returned 17.7 metres of 32.8% iron, and 40.2 metres of 31.4% iron.
As a result of drilling complications on hole 20347-T, the hole was abandoned prematurely in ore and did not reach the same drilling depth and potential band length as the historical hole, the company said, though hitting a grade of 33.8% iron.
However, iron grade and band length "correlate well" between the twin hole and the historical hole over the twin hole length, Black Iron added.
COO, George Mover, commented: "Results from the twin hole program continue to validate the historical work completed on our Shymanivske deposit both in terms of total iron grade and band length."
Both drill holes were part of a twin hole program initiated by the company on April 5, designed to provide drill core suitable for metallurgical test work for an ongoing scoping study, as well as to verify previous drilling work on the project.
Black Iron has hired Ukraine-based GeoResources to complete the drill program, while  Mekhanobrchermet (Research Institute of Mineral Processing in Ferrous Metals) has been engaged to complete independent metallurgical test work on the recovered drill core.
The Shymanivske project contains NI 43-101 compliant measured and indicated resources of  345 million tonnes grading 32% iron, and 469 million inferred tonnes grading 31% iron.
The property is surrounded by five other operating mines including ArcelorMittal's iron ore complex. Black Iron also holds an exploration permit for the adjacent Zelenivske project, which it intends to further explore.