Grängesberg Iron AB

Grängesberg NI 43-101 Resource Estimate

Grängesberg NI 43-101 Resource Estimate

 

The Board of Grängesberg Iron AB is pleased to report that company has received an NI 43-101 Technical Report from Roscoe Postle Associates Inc (“RPA”) of Canada, showing a compliant resource estimate for the Grängesberg Mine.

 

The Technical Report, which was prepared by RPA and was dated 26th September 2014, contains the following summary table:

 

Mineral Resource Estimate Summary – August 22, 2014

Category
Tonnes
Fe (%)
P (%)
Cont. Fe (tonnes)
Indicated
115,200,000
40.2
0.78
46,300,000
Inferred
33,100,000
45.2
0.91
15,000,000

 

Notes:
– CIM definitions were followed for Mineral Resources.
– The values for tonnages, grades and contained iron have been rounded.
– Mineral resources are estimated at a cut-off grade of approximately 20% Fe.
– A minimum mining width of approximately 10 m was used.

RPA concluded that the Grängesberg iron ore deposit hosts a significant iron resource that has excellent potential for expansion at depth. Geophysical interpretations from the 1960s suggest that the ore body continues to at least 1,700 m below surface. Diamond drill holes confirm the mineralization continues to at least 1,100 m to 1,200 m below surface. In RPA’s opinion, more geotechnical, metallurgical, and other engineering studies are warranted to advance this Project.

Download the full RPA report.

 

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