Alderon Intersects 30% Iron Over 604.5 Metres
August 24 2010 - 8:00AM
Marketwired
Alderon Resource Corp. (TSX VENTURE: ADV)(OTCQX: ALDFF) ("Alderon")
is pleased to announce the first set of drill results from the
ongoing drill program on the Kamistiatusset ("Kami") Iron Ore
Project in western Labrador. Assay results have now been received
for the first four holes drilled at Kami, and highlights include:
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From To Length Total Iron
Drill Hole (meters) (meters) (meters) %
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K-10-27 53.5 658.0 604.5 29.9
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K-10-28 23.0 437.0 414.0 24.2
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including 23.0 77.0 54.0 26.0
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and 210.7 437.0 226.3 26.0
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plus 500.6 609.9 109.3 28.1
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K-10-29 102.6 597.0 494.4 28.8
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including 102.6 415.3 312.7 31.1
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and 481.3 597.0 115.7 31.0
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K-10-30 52.5 165.1 112.6 29.1
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"These first set of results clearly demonstrate the potential of
this Project," says Mark Morabito, President & CEO of Alderon.
"We are confirming as well as expanding the known zone of
mineralization, as we had anticipated."
All four drill holes tested the northeast portion of the Rose
Lake Central Zone. Holes K-10-27, K-10-29 and K-10-30 were infill
holes around K-08-18 previously drilled by Altius Resources Inc. to
confirm the continuity of the zone in preparation for the National
Instrument 43-101 resource estimate scheduled for the first quarter
of 2011. Hole K-10-28 was collared on the next section 180 meters
(m) to the southwest and confirms the extension of the mineralized
zone.
Complete assay highlights with drill plan maps and sections are
posted on the Alderon website at:
http://www.alderonmining.com/projects/kami/
True widths of the reported intercepts vary depending on the
angle of the individual drill holes and are estimated to be between
20% and 98% of the core interval as reported. Samples were prepared
from sawn NQ-sized half-core sections on site in Labrador. Split
drill core samples are then sent to SGS Mineral Services in
Lakefield, Ontario for analyses. Total iron analysis is performed
using X-ray fluorescence (XRF) and the magnetic component is
determined by Satmagan magnetic analysis. Standards, blanks, and
duplicate assays are included at regular intervals in each sample
batch submitted from the field as part of an ongoing Quality
Assurance/Quality Control program.
About Alderon
Alderon is a leading iron ore exploration and development
company in Canada. The Kami Project is located within an existing
iron ore district and is surrounded by producing iron ore mines.
The Alderon team is comprised of skilled professionals with
significant iron ore expertise to advance Kami towards
production.
Alderon's exploration work on the Kami Property is supervised by
Edward Lyons, P.Geo., the Chief Geologist for Alderon and a
Qualified Person as defined by NI 43-101. Mr. Lyons has verified
that the assay results presented above have been accurately
summarized from the official assay certificates provided to
Alderon.
For more information on Alderon, please visit our website at
www.alderonmining.com.
ALDERON RESOURCE CORP.
On behalf of the Board
Mark J. Morabito, President & CEO
This new release may contain forward-looking statements. These
statements are based on current expectations and assumptions that
are subject to risks and uncertainties. Actual results could differ
materially because of factors discussed in the management
discussion and analysis section of our interim and most recent
annual financial statement or other reports and filings with the
TSX Venture Exchange and applicable Canadian securities
regulations. We do not assume any obligation to update any
forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Alderon Resource Corp. - Vancouver Office Mark
Morabito President & CEO 604-681-8030 604-681-8039 (FAX)
Alderon Resource Corp. - Toronto Office 416-309-2135 416-861-5887
(FAX) info@alderonmining.com www.alderonmining.com
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