Toronto-based iron ore explorer Black Iron (TSE:BKI) unveiled late Wednesday additional results from its diamond drill program at the company's Shymanivske project in the Ukraine.
company said it continues to be "encouraged" from the results of the
definition and exploration program, intersecting thick iron bands in
each hole, with grades of over 30% iron.
Of note from the three
additional holes unveiled today, hole BISH-24 returned 119 metres
grading 32.8% iron, and 77 metres grading 33.2% iron.
drill holes were part of a 12,000 metre definition and exploration drill
program conducted by the company between July and December last year.
Iron said the campaign is expected to result in a portion of the
resources previously classified as inferred to move into the measured
and indicated category in the next NI 43-101 compliant resource report.
Mekhanobrchermet (Research Institute of Mineral Processing in Ferrous
Metals) completed the independent metallurgical test work on the
recovered drill core from the program.
As announced previously,
the company noted again Wednesday that still no drilling is underway at
Shymanivske until it obtains additional permits required to drill.
it also noted that additional drilling is not required to complete the
feasibility study, which would be conducted in the future to potentially
boost the in pit resource estimate.
is an iron ore exploration and development company advancing its 100
percent-owned Shymanivske project located in Kryviy Rih, Ukraine.
week, the company released results from the project, including hole
BISH-17, which returned 65.0 metres grading 33.8% iron and 11 metres
grading 31.4% iron.
The project contains a NI 43-101 compliant
resource with 373 million tonnes measured and indicated mineral
resources grading 31.3% iron and 480 million tonnes of inferred mineral
resources grading 30.2% iron.
The company believes that existing
infrastructure, including access to power, rail and port facilities,
will allow for a quick development timeline to production.
also holds an exploration permit for the adjacent Zelenivske project
which it intends to further explore to determine its potential.