18/12/2012 – ASSAY RESULTS EXCEED FIELD ESTIMATES FOR HAVIK DRILLING

Posted on by namadmin2016

This season, NAMA and its JV partner Red Rock Recourses Plc. (RRR) have defined a folded, fault repeated iron formation at both the Havik East and Havik Northeast Prospects in Melville bugt, Greenland – these bodies are a short distance apart, considered to be the same horizon, and being assessed together for resource potential.

 

Highlights

Geochemical analysis has been completed for two thirds of the 2012 drilling in the Havik area and the assay results from the fully representative sampling consistently show a significant increase from the preliminary field readings reported earlier in the year by RRR. Initial metallurgical analysis has also been completed and is favorable.

The main objectives of the 2012 diamond core drill programme were to:

  • Delineate the sub-surface extent and continuity of the BIFs;
  • Characterize geological structures that are key to understanding the 3D geometry of BIFs across the whole license area;
  • Assess the extent and the implications of secondary haematite replacement;
  • Obtain a JORC Mineral Resource Estimate from one or more targets.

 

Key outcomes include:

  • Positive results from new assays confirm majority of iron grades between 28-38% Fe returned across the prospect, with 6 of 10 holes returning average grades over 30% Fe and a number of intersections exceeding 35%;
  • Iron concentrations from assay show a marked and consistently higher grade (3.1% to 14.0% increase) than the field-based handheld XRF estimates released in July 2012;
  • Banded iron formation samples to date indicate overall low deleterious elements values (S, MgO, Al2O3, CaO, P, Mn, TiO2), XRF concentrate grades are pending;
  • Coarse grained magnetite crystals, 1-2mm diameter, favorable to beneficiation and magnetite liberation;
  • Initial Davis Tube Recovery from six samples shows an average mass recovery of 46% from a head grade of 35% Fe, XRF concentrate grades are pending.

JORC Mineral Resource Estimate is due in short period of time

For mor information please see RRR´s announcement on LSE –

Flugvel og þyrla

Picture from Qaanaaq airport, Greenland. Airplanes and helicopters were the main source of transport for the Melville bugt project in 2012.