Ferrum Americas Mining Inc announced that drilling on the Company's Cerro Rojo iron ore project in Bolivia has returned wide intersections of banded iron formation grading in excess of 44% Fe in 7 additional holes.
This program is part of the first phase drilling underway at Cerro Rojo, which is located in eastern Bolivia, approximately 55 kilometer west of Puerto Suarez and the Hidrovia River system near Corumba, Brazil.
The Corumba Iron Ore District hosts a number of world class iron ore deposits including the large El Mutun deposit and Vale's Corumba mining operations.
Diamond drill hole CR12-15 intersected 119.3 meter grading 45.7% Fe including a higher grading interval of 92.8 meter grading 50.8% Fe. This hole was successful in extending known mineralization down dip by more than 225 meter from drill hole CR12-05 which intersected 49.4% Fe across 88.48 meter.
Drill hole CR12-13, in filled between these two holes, intersected 96.5 meter grading 47.7% Fe. Cross sections for these holes are posted at the end of this press release.
Drilling to date has tested 2,700 meter of strike at Cerro Rojo and mineralization remains open at depth and along strike.
Results from drill holes CR12-09 to 15 are listed in the table below:
|Hole||From (m)||To (m)||Interval(1)(m)||Change|
1. Intervals represent the down hole core intersection and, until more data is available on the geometry of the mineralized zone are not considered true widths.
Mineralization at Cerro Rojo occurs as a massive-banded hematite-magnetite iron formation overlying a Proterozoic basement sedimentary sequence.
Ferrum continues to focus on outlining iron ore resources which will be amenable to open pit mining.
Ferrum has engaged P&E Mining Consultants Inc working in collaboration with Paul Pitman, P Geo, to prepare a NI 43-101 compliant resource estimate for the Cerro Rojo project. A field visit was completed last week by a representative of P&E and the Company anticipates receiving a final report early in the New Year.
Beneficiation Test Work Program
Ferrum has engaged Mintrex Pty Ltd, an Australian based metallurgical and process design engineering consultancy with expertise in iron ore beneficiation. The first sample of drill coe has been shipped to Mintrex as part of a comprehensive beneficiation test program. Final results from this program are expected in the Q3 of 2013.
Quality Control Quality Assurance
Sample preparation is being carried out at ALS Minerals lab in Oruro, Bolivia. ALS is a multinational company which operates to ISO 9001 quality assurance standards. All samples are HQ core and vary in length from 1.5 to 4 meter. When received at ALS laboratory in Bolivia, the sample is logged in the tracking system, weighed, dried and finely crushed to better than 70% passing a 2 millimeter screen.
A split of up to 250 grams is taken and pulverized to better than 85% passing a 75 micron screen. These pulps are sent to ALS Chemex Lima and grades are reported as total Fe%. Assays are completed using the High Grade/Ores Method and XRF analysis. The QA/QC program included the insertion of systematic standards, blanks and duplicate samples within every sample batch submitted to ALS.
In addition, ALS inserts its own duplicate samples. The results from these control samples indicate an acceptable consistency of analysis.
Ferrum continues to enjoy unprecedented community support in the Puerto Suarez region of Bolivia. Considerable support was received from the communities near Cerro Rojo, in particular Yacuses, which took a proactive approach in supporting Ferrum's permit applications. This included letters of support and requests to meet with government officials to support our project.
The regional centre of Puerto Suarez has also generously provided the use of the town's road graders and other heavy equipment for site preparation.
Mr Nick Tintor President and CEO of Ferrum said that "At Ferrum, our community relations in Bolivia are a priority and our policy is to ensure that as many economic benefits as possible flow from the Cerro Rojo project to the local region. This means hiring locally and buying supplies locally whenever we can."
Cerro Rojo is located approximately 55 kilometer from Puerto Suarez which is located on the Hidrovia river system, the Mississippi of Latin America according to The World Bank(1). Large barge convoys are currently used to transport iron ore down river to off load sites in Argentina.
Vale and MMX, both operating in the Corumba Urucum Iron Ore District in Brazil across from Puerto Suarez are currently shipping more than 8 million tonnes of iron ore annually utilizing barge tug convoys on the Hidrovia.
Source - Ferrum Americas Mining Inc