Exploration on the Block 103 project to date includes over 28,000 metres of diamond drilling in 114 holes as well as additional surface sampling, focused primarily on the continued investigation and definition of mineralization in the Greenbush Zone. Intersected intervals ranged up to 291 metres of 26.7% to 35.5% total iron with mineralization open to depth and to the northwest and southeast. Metallurgical results indicate a magnetite recovery of 93.7% and an iron concentrate grade of 70%. Click here to view the complete drill assay results.
In total the 7.2 billion tonnes of iron ore defined in the current resource only amounts to approximately 25% of the total potential area that could be defined. In addition to the Magnetite iron resource ML Gold personnel have worked closely with Tata Steel Minerals Canada to identify DSO (Direct Shipment Ore) style mineralization. Through this joint effort ML Gold has developed several target areas of high gravity low total magnetics occurring within the iron formation trend that could represent high grade pockets of DSO. These targets remain to be tested.
ML Gold is currently evaluating areas within the 7.2 billion tonne resource to identify potential high grade pockets that would offer attractive economics for starter pit, and allow the company to focus their efforts moving forward.