LABRADOR – Vancouver-based Alderon Iron Ore Corp. announced that the total measured and indicated resources at its Kamistiatusset (Kami) iron ore project are now estimated to be 1.1 billion tonnes at 29.8% Fe. The project also has an inferred resource of 277.4 million tonnes at 29.5% Fe, based on a cut-off grade of 20% Fe.
The Kami project is expected to produce 8.0 million tonnes (perhaps more) of iron concentrate per year for 16 years. Over that time it would also generate $1.6 billion in direct, indirect and induced incomes to workers and local businesses. It would contribute $13.6 billion to the provincial gross domestic product. There will be 24,000 person-years of employment during construction and operations.
The Kami property is located 10 km from Wabush. Complete assay results are posted on the Alderon website, AlderonIronOre.com, as are 3-D images showing the outline of the mineral resources.