Vancouver based Alderon Iron Ore Corp announced that the total measured and indicated resources at its Kamistiatusset iron ore project are now estimated to be 1.1 billion tonnes at 29.8% Fe. The project also has an inferred resource of 277.4 million tonnes at 29.5% Fe, based on a cut-off grade of 20% Fe.

The Kami project is expected to produce 8.0 million tonnes (perhaps more) of iron concentrate per year for 16 years. Over that time it would also generate USD 1.6 billion in direct, indirect and induced incomes to workers and local businesses. It would contribute $13.6 billion to the provincial gross domestic product. There will be 24,000 person-years of employment during construction and operations.

The Kami property is located 10 km from Wabush. Complete assay results are posted on the Alderon website, AlderonIronOre.com, as are 3-D images showing the outline of the mineral resources.

Source - Canadian Mining Journal

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