Ferrum Americas Mining intersects 94.4 m grading 52.1% Fe at Cerro Rojo iron ore project
Tuesday, Dec 11, 2012
Ferrum Americas Mining Inc., (TSX VENTURE:FEM) ("Ferrum" or the "Company") is pleased to announce that drilling on the Company's Cerro Rojo iron ore project in Bolivia has returned the highest grading results to date. This program is part of the first phase drilling underway at Cerro Rojo, which is located in eastern Bolivia, approximately 55 kilometres west of Puerto Suarez and the Hidrovia River system near Corumba, Brazil. The Corumba Iron Ore District hosts a number of world class iron ore deposits including the large El Mutun deposit and Vale's Corumba mining operations.
Diamond drill hole CR12-16 intersected 94.4 metres grading 52.1% Fe including a higher grading interval of 36 metres grading 56.4% Fe. Hole CR12-17, located 200 metres west of Hole CR12-16 along strike, intersected 59.3 metres grading 52.4% Fe. Both holes intersected banded iron ore mineralization from surface.
These holes were successful in extending known mineralization along strike to the west by approximately 1,000 metres from drill hole CR12-15 which intersected 50.8% Fe across 92.8 metres (See Press Release November 15, 2012).
Drilling to date has tested the deposit along 2,700 metres of strike at Cerro Rojo and mineralization remains open at depth and along strike.
"These are the best results to date from our drill program at Cerro Rojo and underscore the potential we see for supporting an open pit iron ore mining operation", Nick Tintor President and CEO commented. "These results show improving grades along strike towards the west in an area we will follow up on next year," he added.