/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE
Intersection of 443.15 Metres of 32.43% Fe2O3 on Hole KA-11-18 including 77.6 Metres of 43.21% Fe2O3
VANCOUVER, Nov. 9, 2011 /CNW/ - Northern Iron Corp ("Northern") (TSXV: NFE) (FRANKFURT: N8I) today released assay results for drill hole KA-11-18 on the Karas
property. The drill holes continue testing the true thickness of the
magnetite mineralization north and in line with the previously released
holes, which is still open towards the north and at depth.
"The intersection is just short of half a kilometre of magnetite
mineralization and still open at depth, which is an excellent result
and stands out as one of the best drill holes to date. The tightly
folded banded iron formation on the Karas property demonstrates a
continuous formation from surface to depth with a magnetic signature of
800 metres by 500 metres at surface." said Basil Botha, President &
Hole KA-11-18 tests the northern end of the magnetite mineralization,
and intersects a continuous mineralized interval of magnetite
mineralization. The hole is directed as perpendicular as possible to
the mineralized zone, and terminated in magnetite mineralization. The
zone remains open at depth.
Highlights of hole KA-11-18 are summarized in the table below.
*Mineralization open at depth.
To date, 21 of the planned 30 drill holes (approximately 10,000 metre
program) have been completed on Northern's 100% owned Karas property,
located 15km northeast of the town of Ear Falls, Red Lake mining
district, Ontario. The 10,000 metre drill program is being completed to
define a mineral resource on the property by the end of 2011.
All 2011 drill holes were surveyed using a Reflex Maxibor II probe to
monitor drill hole deviations in magnetic disturbed environments.
Northern's personnel were trained "on-site" by Reflex personnel to
operate the instrument and process the survey data. All collars are
surveyed by Northern's personnel using an APS differential GPS with 3cm
accuracy immediately after the holes are completed. The QA/QC protocol
system employed during the 2011 exploration program included procedures
for monitoring the chain-of-custody of samples and the insertion of
blank samples in every batch of samples. Cross-check analyses are
planned to be conducted at a second external laboratory from blind
duplicate samples. Drill core samples are being prepared at SGS Canada
Inc. in Red Lake, Ontario and assayed at SGS Canada Inc., in Lakeview,
Raul Sanabria, P. Geo., is the Qualified Person for the purposes of
National Instrument 43-101 for the Karas Exploration Project. Mr.
Sanabria has verified and approved the contents of this news release.
About Northern Iron
Northern Iron is a mineral resource company engaged in reviving a past
producing iron mine and concurrent exploration of high quality iron ore
resources in the Red Lake mining division, district of Kenora, Ontario,
Northern Iron holds 100% interest in minerals claims covering
approximately 14,672 hectares, comprised of the El Sol Property, the
past producing Griffith Property, the Karas Property, the Papaonga
Property and the Whitemud-Slate Property.
The Griffith Mine owned at the time by Stelco, produced 78.8 million
tonnes of iron ore for conversion to pellets and DRI from 1968-1989.
Total magnetic iron recovery was 86.26%
The Red Lake area is accessible year round by Highway 105, which joins
the Trans Canada highway at Vermillion Bay, 175 km south and 100 km
east of Kenora. Commercial air services operate to Red Lake from
Thunder Bay, Ontario and Winnipeg, Manitoba
The foregoing information may contain forward-looking statements
relating to the future performance of the Company. Forward-looking
statements, specifically those concerning future performance, are
subject to certain risks and uncertainties, and actual results may
differ materially from the Company's plans and expectations. These
plans, expectations, risks and uncertainties are detailed herein and
from time to time in the filings made by the Company with the TSX
Venture Exchange and securities regulators. The Company does not assume
any obligation to update or revise its forward-looking statements,
whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority
has approved of disapproved the information contained herein.
SOURCE Northern Iron Corp.
For further information:
President & CEO
Northern Iron Corp.
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