 |
Click here to view an independent NI 43-101 technical report (Technical Report and Mineral Resource Estimate for the Lac Otelnuk Iron Property - Labrador Trough - Northeastern Québec for Adriana Resources Inc. prepared by Watts, Griffis and McOuat, Consulting Geologists and Engineers ) (pdf file - 7 MB). The Report has been filed on www.sedar.com on May 7th, 2009
|
view Lac Otelnuk Property Fact Sheet
|
|
|
| Location: |
Labrador Trough - Nunavik, Québec, Canada |
| Mineral: |
Iron (Fe) |
| Property Size: |
34,823 hectares |
| Project Status: |
Resource Definition |
| Current Project Activity: |
Work towards developing strategic partnership to advance to "Pre-Feasibility Stage"
|
| Resource: |
4.29 Billion Tonnes Indicated; 1.97 Billion Tonnes Inferred at ~29% Fe (see below) |
| Ownership: |
Option to Acquire 100% |
Summary of National Instrument ("NI") 43-101 Mineral Resource Estimate (using a DTWR cut-off grade of 18%)
| Zone |
Tonnes
Billions |
%Fe
Head |
DTWR
% |
%
SiO2 |
%Fe
DTC |
| Indicated |
4.29 |
29.08 |
27.26 |
3.53 |
68.00 |
| Inferred |
1.97 |
29.24 |
26.55 |
3.51 |
68.12 |
Information provided by Magnus Erickson of Raw Materials Group, Stockholm, Sweden, a group which manages an extensive mining industry database, indicated that the mineral resource identified in the South Zone of Lac Otelnuk project currently ranks it in the "Top 15" of all known "world-class" iron deposits.
"Adriana is pleased to say that the South Zone of Lac Otelnuk can now be considered a world-class iron deposit, and the new resource estimate has exceeded our expectations, and is a significant milestone for the Company. The significance of this resource estimate will bring global attention to the project and also to Nunavik, Québec, Canada as a major iron ore player. Similar mineralization is identified along strike to the northwest for approximately 15 kilometres into the North Zone, through drilling completed in the 1970s. The North Zone has yet to be drilled by Adriana, but shows the true potential of the Lac Otelnuk project, as the Company believes the North Zone lies within the same iron formation as the South Zone, and is the geological continuation of the Lac Otelnuk Deposit," commented Michael Beley, Chairman of the Board of Adriana, "Of note, a single exploration hole drilled by Adriana in 2008, located 2,000 metres west of the baseline on Section 10 North, confirmed the significant western extension of the iron formation under a broad topographic high or ridge. This area was not previously explored, and the drill hole was lost before reaching the lower stratigraphic units."
Property Description
The Lac Otelnuk Iron Project is located 170 kilometers north of the town of Schefferville, Quebec. This town once served as a centre for the iron mining and processing operations of the Iron Ore Company of Canada. The northern terminus of the Quebec North Shore and Labrador Railroad, a common carrier, is located in Schefferville.
The property lies within the Labrador Trough, one of the largest iron ore belts in the world. The belt contains world-class iron deposits that have been continuously mined since 1954.
Historical Work Completed
The property was first explored in the early 1950s when a significant magnetite iron formation was mapped over a strike length of approximately 25 kilometres. Subsequent diamond drilling and surface sampling in the 1970s, which was largely limited to the upper iron formation unit, resulted in historic mineral resource estimates for two adjacent zones, the North and South. Magnetite occurs throughout this iron formation, with the North and South zones largely uniform in continuity of grade and thickness.
Lakefield Research (now SGS Minerals Services) of Lakefield, Ontario, carried out limited metallurgical test work on surface samples and drill core from the North Zone in 1971 and 1974. In addition, in 1976, an 18-long ton bulk sample was taken from the North Zone, of which approximately one long ton was shipped to a German laboratory for metallurgical testwork. This work was carried out in 1977. Finally, in 1981 Lakefield carried out testwork on another portion of the bulk sample. While the results from the two laboratories cannot be directly correlated, both prepared concentrates grading 65.1% to 70.6% Soluble Fe with weight recoveries up to 41.0%, acceptable results for taconite deposits.
Recent Activity, Work Programs & Going Forward
A total of 67 diamond drill holes totaling 7,446 metres were drilled by Adriana on a nine kilometre portion of the deposit referred to as the South Zone (including 27 holes totaling 2,191 metres drilled in 2007). The 2008 drill campaign completed grid drilling of the South Zone at a drill spacing of 600 m by 500 m.
The Lac Otelnuk iron formation is open along strike to the northwest and southeast. It subcrops at surface and dips gently (from 2 to 5 degrees) to the northeast, eventually plunging under sedimentary formations. The western extent is terminated by erosion. Due to the gentle north-easterly dip and westerly sloping terrain, much of the sedimentary rocks that overly the South Zone have been stripped away by erosion, exposing the Upper Iron Formation.
During the 2008 field season, the Company also completed an aerial photograhic survey and an extensive Ground Differential GPS survey that will be used for future mineral resource estimation, baseline monitoring and conceptual open pit planning. Golder Associates has been retained to conduct environmental baseline studies and successfully completed fall season surface and ground water sampling and analysis.
The Company's goal is to advance towards the pre-feasibility and subsequent development stage through the future potential partnership with a strategic partner or "end user".
Mr. Frank Condon, P.Eng., a director of the Company and a qualified person as defined by NI 43-101, has reviewed and approved the technical disclosure of this information on Lac Otelnuk.
|
|
|
