NUNAVUT - BAFFINLAND IRON MINES of Toronto reports that it has drilled several thick intervals of high-grade iron ore in the latest program at its wholly-owned Mary River deposits on Baffin Island. The total length of the high-grade iron intercepts was 1,330.5 metres averaging 65.8% Fe. The thickest continuous interval was 128.1 metres averaging 67.7% Fe, and the highest grade was 68.8% Fe over 102.0 metres. Phosphorous (which makes steel brittle) content was less than 0.03% in the holes reported.
Baffinland hopes to develop a direct-shipping iron ore operation for the European markets. The initial production rate would be approximately 10 million tonnes/year. News, plans and cross-sections are available at www.Baffinland.com.
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