Black Iron (TSE:BKI) unveiled late Tuesday additional "encouraging" diamond drill results from its program at the Shymanivske iron ore project in Ukraine.
company said the results of the infill drilling continue to intersect
thich iron bands in each hole, with grades over 30% iron.
Of note, hole BISH-26 returned 99 metres grading 32.1% iron, 27.3 metres grading 34.1% iron and 37.5 metres grading 30.8% iron.
three drill holes reported Tuesday form part of a 12,000 metre
definition and exploration drill program conducted by the company
between July and December last year.
The company said the
drilling will result in a portion of the resources previously classified
as inferred moving 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 Tuesday 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.