Rogue Iron Ore Intersects 373 Meters of 34% Total Iron
May 08 2012 - 7:30AM
Marketwired Canada
Rogue Iron Ore Corp. (TSX VENTURE:RRS) (the "Company") is pleased to announce
results from drilling at its Radio Hill Iron Ore Project, located 80 km
southwest of Timmins, Ontario. Drill Hole RH-11-26, cut 373 meters of 34% total
iron (20% DTWR) of banded iron formation (BIF) and drill hole RH-11-29
intersected three intervals of higher iron grade BIF totalling 336 meters with
between 37% and 44% total iron (23 and 35% DTWR). Both holes show the width and
depth potential at Radio Hill. The reported results were drilled through the
western limit of the thickened portion of the iron formation. RH-11-29 included
one 99 meter section returning 44% total iron and 35% DTWR which is high grade
material for a taconite deposit. Several drill holes show that additional high
grade material is located at depth (see section 2410E). The current 10,500 meter
drill program began in August 2011 will be completed this month with the
objective of outlining a NI 43-101 complaint resource estimate.
To view updated sections of recent drilling please click on the following link:
http://media3.marketwire.com/docs/rrs508_F1-2.pdf
"Results continue to show the potential of high-grade iron zones at Radio Hill
and how they may affect the overall resource. Metallurgical testing and ore
characterization now underway will help explain the varying grades of taconite
mineralization and how they may affect future production scenarios," commented
Company President & CEO, Stephen de Jong. "The high grade material at depth is
important as historical resource definition did not sufficiently define the
deeper portion of the iron formation."
To view a drilling plan map showing the latest results please click here:
http://media3.marketwire.com/docs/RogueDrillPlan.pdf
Table 1: Radio Hill Phase Two Drilling
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Core Total Calc.
From To interval Iron DTWR
Hole Name (m) (m) (m) % %
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RH-12-26 12.6 33 20.4 46.7 34.6
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and 55.5 429 373.5 34.3 20.1
----------------------------------------------------------------------------
RH-12-27 309 441 132 40.9 29.5
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RH-12-28 201 285 84 39.4 27.8
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RH-12-29 2.7 210 207.3 37.4 23.1
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and 264 294 30 38.0 20.1
----------------------------------------------------------------------------
and 360 458.6 98.6 44.4 35.3
----------------------------------------------------------------------------
Calculated Davis Tube Weight Recovery (DTWR) =1.546(Satmagan) - 0.858. Core
intervals lengths are between 60 to 80% true width.
RH-11-25 did not return any significant iron values.
As of May 02, 2012, the Company has completed 38 holes at Radio Hill for a total
of about 9,800 meters since commencing in late 2011. The first phase of drilling
tested the geological constraints along the southern boundary whereas more
recent drilling has focused on the center of the deposit where the iron
formation is thickened by isoclinal folding. The outcome of the current drill
program will be a NI 43-101 compliant resource estimate.
The Company has also completed a ground magnetics survey on a portion of the 12
km strike length of the Nat River iron formation, located 6 km to the east of
the Radio Hill iron deposit. This work will help with targeting for preliminary
drilling on the Nat River iron formation, this coming season.
ABOUT RADIO HILL
Radio Hill is a taconite (magnetite) iron formation located 85 southwest of
Timmins and is accessed by Highway 101. Original exploration work at Radio Hill
was conducted in the 1960s, when iron ore prices were less than one fifth of
what they are today. Although low prices existed the project still had a
feasibility study completed and a market secured. Since that time ownership of
the asset has been fragmented and with various landholders owning various parts
of the deposit. Over the past 50 years little to no iron exploration work took
place until Rogue acquired both the historical resource and the surrounding
12,000 hectares of highly prospective ground including the 12km Nat River Iron
Formation. The property is transected by a heavy gauge portion of the CN Rail
mainline at the active Kukatush rail siding. There is power and water within
kilometers of the present drilling.
QUALITY CONTROL AND ASSURANCE
All drill core samples have been split and shipped by the Company to SGS
Lakefield, where the samples are prepared and analyzed by fusion with lithium
tetraborate-XRF for SiO2, Al2O3, CaO, Fe2O3, K2O, MgO, TiO2, P, Mn and Cr2O3,
and retained moisture (LOI) by multi-temperature. Sulphur and sulphide analysis
is done separate to the XRF analysis. Satmagan readings are done on each sample.
A magnetite concentrate for some holes is produced using Davis Tube concentrator
(DT) giving a weight recovery percentage (DTWR). The concentrate is then
analysed by XRF for SiO2, Al2O3, CaO, Fe2O3, K2O, MgO, TiO2, P, Mn and Cr2O3 and
retained moisture (LOI) by multi-temperature. The company inserts systematic
duplicates, blanks and standard samples every 30 samples to verify and assure
acceptable consistency of analysis. The samples are analyzed at SGS Labs in
Lakefield Ontario. SGS is an internationally recognized leader in iron ore
analysis. Kevin Montgomery, P.Geo., is the qualified person for the purposes of
National Instrument 43-101 and has reviewed the technical contents of this press
release.
X-ray fluorescence (XRF) spectroscopy is commonly used to determine the iron
grade of a deposit, reported as 'total iron'. In the case of taconite iron
formations where the mineral of interest is magnetite, a strongly magnetic
mineral, a direct physical measurement is conducted using the Davis Tube test
technique. In the instance of Radio Hill the Davis Tube results are the most
important parameter, since it is this parameter that is used to calculate
mineral resource estimates.
ABOUT ROGUE IRON ORE CORP.
Rogue Iron Ore is an iron exploration and development company with offices in
Vancouver BC, and Timmins, ON. The Company's primary asset is its Radio Hill
Iron Project located 85km southwest of Timmins, Ontario.
Key Company milestones expected in the near term are:
-- Ongoing results from drilling at Radio Hill Iron Project
-- Completion of Radio Hill resource estimate
-- Announcement of additional JVs or other partnerships on non-core assets
-- Appointment of key personnel to technical and management teams
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong, President & CEO
Follow Rogue Iron Ore Corp. On:
Facebook: http://www.facebook.com/rogueiron
Twitter: http://twitter.com/rogueiron
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this
release constitutes forward-looking statements. In making the forward-looking
statements in this release, the Company has applied certain factors and
assumptions that are based on the Company's current beliefs as well as
assumptions made by and information currently available to the Company,
including that the Company is able to obtain any government or other regulatory
approvals required to complete the Company's planned exploration activities,
that the Company is able to procure personnel, equipment and supplies required
for its exploration activities in sufficient quantities and on a timely basis
and that actual results of exploration activities are consistent with
management's expectations. Although the Company considers these assumptions to
be reasonable based on information currently available to it, they may prove to
be incorrect, and the forward-looking statements in this release are subject to
numerous risks, uncertainties and other factors that may cause future results to
differ materially from those expressed or implied in such forward-looking
statements. Such risk factors include, among others, that actual results of the
Company's exploration activities will be different than those expected by
management and that the Company will be unable to obtain or will experience
delays in obtaining any required government approvals or be unable to procure
required equipment and supplies in sufficient quantities and on a timely basis.
Readers are cautioned not to place undue reliance on forward-looking statements.
The Company does not intend, and expressly disclaims any intention or obligation
to, update or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by law.
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