Rogue Iron Ore Intersects 482 Meters of 40% Total Iron at Flagship Radio Hill Iron Ore Property
August 02 2012 - 7:30AM
Marketwired Canada
Rogue Iron Ore Corp. (TSX VENTURE:RRS) (the "Company") is pleased to announce
assay results from drilling at its Radio Hill iron ore project, located 80km
southwest of Timmins, Ontario. Drill hole RH-12-31 intersected 482 meters of
banded iron formation (BIF) returning 39.9% total iron (25.7% DTWR) and drill
hole RH-12-30 intersected two intervals of BIF returning 41.0% and 43.6% total
iron (27.4% and 31.8% DTWR). Both holes show the width and depth potential at
Radio Hill. These reported results were drilled through the central thickened
portion of the iron formation. Several drill holes show that additional high
grade material is located at depth (see Section 412325E via link below).
"These results have exceeded our expectations with robust intersections of good
grades showing the potential of the thickened central portion of the iron
formation. With drilling complete, Rogue has commenced market studies and
metallurgical testing in order to characterize the ore for marketing the
potential product both domestically and abroad," commented Company President &
CEO, Freeman Smith.
The 2012 drill program, consisting of 43 holes, was completed in May 2012. Of
the 43 holes, 3 holes were drilled previously but were not sampled for iron
until now, bringing the cumulative total core length drilled to 10,447 meters.
Portions of the core have been sent to SGS Lakefield Research Ltd. for analysis
as part of the metallurgical testing currently underway and expected to be
completed mid-August, at which point an NI 43-101 compliant resource estimate
will be completed.
To view updated sections of recent drilling, please click on the following link:
http://media3.marketwire.com/docs/rrs801cs.pdf
To view a drilling plan map showing the latest results please click here:
http://media3.marketwire.com/docs/rrs801dp.pdf
Table 1: Final Radio Hill Drilling Assay Results not yet reported
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Core Total Calc.
From To Interval Iron DTWR
Hole Name (m) (m) (m) % %
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RH-12-30 5.0 45.0 40 41.0 27.4
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and 288.0 414.0 126 43.6 31.8
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RH-12-31 77.7 559.7 482 39.9 25.7
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RH-12-33 10.0 126.0 18 41.2 26.0
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and 288.0 402.0 114 40.5 25.7
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and 462.0 498.0 36 43.9 32.8
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RH-12-34 23.0 79.3 56.3 43.4 31.7
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RH-12-39 126.5 138.0 11.5 43.8 30.2
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Calculated Davis-Tube Weight Recovery (DTWR) = 1.546 (Satmagan) - 0.858.
Core interval lengths are between 60 to 80% true width.
ABOUT RADIO HILL
Radio Hill is a taconite (magnetite) iron formation located 80km southwest of
Timmins, Ontario and is accessed by Highway 101. Original exploration work at
Radio Hill was conducted in the 1960's, 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 2008 when Rogue acquired both the historical
resource and the surrounding 12,000 hectares of highly prospective ground which
includes the 12km long 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.
The Company has also completed a ground magnetics survey on a portion of the
12km strike length of the Nat River iron formation, located 6km to the east of
the Radio Hill iron deposit. Work in this area will focus on mapping and
sampling.
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 a Davis Tube
concentrator (DT) giving a weight recovery percentage (DTWR). The concentrate is
then analyzed 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 l measurement is conducted using the Satmagan instrument in
addition to the physical measurement of magnetite using the Davis Tube test
technique. In the instance of Radio Hill, the Satmagan and 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 Corp. is an exploration and development company with offices in
Vancouver, BC and Timmins, ON. The Company's primary asset is its Radio Hill
iron ore project located 80km southwest of Timmins, ON.
KEY COMPANY MILESTONES, EXPECTED IN THE NEAR-TERM
-- Completion of Radio Hill metallurgical results and resource estimate
-- Completion of spin-out gold company to capitalize on Rio Tinto gold
discovery
-- 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
Freeman Smith, President & CEO
Follow Rogue Iron Ore Corp. On:
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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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