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.
The 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 up to 35% iron.
Of note, hole BISH-72 intersected 46.5 metres grading 35.1% iron and 20.0 metres grading 24.4% iron.
The two drill holes released were part of a 12,000 metre definition
and exploration drill program conducted by the company between July and
December last year.
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.
Ukraine-based 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.
However, 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.
Last week, the company released more results from the project, with
hole BISH-31 intersecting 60.2 metres grading 35.2% iron and 141.0
metres grading 32.3% iron, including 95.0 metres grading 33.3% 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.