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.