TORONTO, July 15 /CNW/ - Advanced Explorations Inc. (the "Company or
AEI") is pleased to announce results from Zone C1 drilling on its Roche Bay
iron project in Nunavut. Drill-hole RBC-08-62, drilling with NQ-sized core and
angled at -75 degrees on grid west 305 degrees azimuth, was designed to test
the downdip extent of the steeply east dipping banded iron formation (BIF).
The hole intersected 326 metres of BIF in the hole and exited the zone at a
distance of 590 metres down-hole. At 617 metres, this is now the deepest hole
drilled on the property and indicates that the mineralization continues to
depths greater than 500 metres below surface. Samples are now being sent to
SGS Laboratories in Lakefield, Ontario for assaying.
The Company currently has 4 drill rigs turning and a fifth set up ready
to go. To date over 8600 metres have been drilled in 2008 and the program has
now eclipsed its targeted 1500 metres of drilling per week. Drilling is
directed at supporting the resource and economic study currently underway.
Establishing the potential depth extent of the mineralization is one of the
John Gingerich, President and CEO of AEI, commented;
"Hole RBC-08-62 is an important hole as it verifies that the iron
formation extends to depths well beyond typical open pit design depths.
The over five kilometre long C-Zone is currently being tested with 4
drill rigs. With widths locally in excess of 250 metres the recent hole
confirms the potential to develop a large tonnage deposit."
ON BEHALF OF THE BOARD
John Gingerich, President & CEO
Gary Williams P. Geo and VP of Advanced Explorations Inc is the QP within
the meaning of 43-101, and has reviewed and approved the content of this
ABOUT Advanced Explorations Inc.
AEI, based in Toronto, Canada, is exclusively focused on developing high
quality iron ore opportunities. In early 2007 the Company expanded its
capabilities in iron ore exploration and development with the acquisition of
strategic management personnel. AEI has the management, technical and
exploration expertise and experience to rapidly advance the Roche Bay
magnetite project, which was acquired in June 2007, as well as, to develop new
opportunities in the area and globally. The Roche Bay magnetite project is
located proximal to a natural harbour which makes it potentially one of the
world's premier iron ore opportunities. Shares of the company trade on the TSX
Venture Exchange under the symbol AXI. For more information please visit
THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE
This news release also includes forward-looking statements that involve a
number of risks and uncertainties. The information reflects numerous
assumptions as to industry performance, general business and economic
conditions, regulatory and legal requirements, taxes and other matters, many
of which are beyond the control of the company. Similarly, this information
assumes certain future business decisions that are subject to change. There
can be no assurance that the results predicted here will be realized. Actual
results may vary from those represented, and those variations may be material.
This news release does not constitute an offer to sell or a solicitation
of an offer to sell any of securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
For further information:
For further information: (416) 203-0057 x226