Baffinland Announces Additional Thick Intervals of High Grade Iron.TORONTO Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing -- Baffinland Iron Mines Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BIM BIM Building Information Modeling BIM Building Information Model BIM Bord Iascaigh Mhara (Irish Sea Fisheries Board) BIM Brussels Instituut voor Milieubeheer (Belgium) BIM Bharathidasan Institute of Management ) ("Baffinland" or the "Company") is pleased to report the following thick intervals of high grade iron assays from the second batch of drill core from the Company's 2005 drill program on its wholly-owned Mary Mary, the mother of Jesus Mary, in the Bible, mother of Jesus. Christian tradition reckons her the principal saint, naming her variously the Blessed Virgin Mary, Our Lady, and Mother of God (Gr., theotokos). Her name is the Hebrew Miriam. River iron ore deposits, located on Baffin Island Baffin Island, 183,810 sq mi (476,068 sq km), c.1,000 mi (1,610 km) long and from 130 to 450 mi (210–720 km) wide, in the Arctic Ocean, Nunavut Territory, Canada. It is the fifth largest island in the world and the easternmost member of the Arctic Archipelago. , Nunavut Nunavut (n  `nəvt') [Inuktituk,=our land], territory (2001 pop. 26,745), 772,260 sq mi (2,000,671 sq km), NE Canada. Territory, Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of .Highlights - The total high-grade High-grade Credit quality of AAA or AA. high-grade Of, relating to, or being a bond with little risk of default on the part of the issuer. High-grade is usually reserved for bonds rated AAA or AA by the rating services. iron intercepts contained in the holes released today is 1,330.5 metres at an average grade of 65.8% iron. - The total of the multiple intervals in a single hole is as much as 229.8 metres in four intervals at an average grade of 64.8% iron. - The thickest continuous interval is 128.1 metres at an average grade of 67.7% iron. - The highest grade of the thick and continuous intercepts is 68.8% iron over an interval of 102.0 metres. - Deposit No. 1 remains open along strike and at depth and since many holes collared and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. ended in high grade mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. the deposit is also open to potential additional thickness in certain areas. Assaying and analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. work are performed by SGS SGS Société Générale de Surveillance SGS Symantec Gateway Security (appliance) SGS School of Graduate Studies SGS Subgrid Scale SGS Singapore Government Securities SGS Shell Global Solutions Lakefield Lakefield is the name of several places in the North America:
abbr. small for gestational age Small-for-gestational-age (SGA) A term used to describe newborns who are below the 10th percentile in height or weight for their estimated gestational age. ") in Germany, where they are composited for detailed metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. testing to ISO standards This is a list of ISO standards that are discussed in Wikipedia articles. For a list of all the more than 16,000 ISO standards (as of 2007), see the ISO Catalogue. About 300 of the standards produced by ISO and IEC's Joint Technical Committee 1 (JTC1) have been made freely/publicly for iron ore. The testwork is specific for lump ores (less than 31.5mm greater than 6.3mm in size). Additional testwork is being completed on fine material (less than 6.3 mm in size) for sintering sintering, process of forming objects from a metal powder by heating the powder at a temperature below its melting point. In the production of small metal objects it is often not practical to cast them. . These results will be released when available. The attached tables summarizes the assay data for additional holes received from the 2005 program and the attached plan view map shows the location of the holes drilled in Deposit No. 1. Plan views showing the location of the drill holes and preliminary cross-sections to assist in interpretation of the data are available at the Baffinland website at www.baffinland.com. 2005 Assay Data Gordon A. McCreary, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Baffinland stated that, "At the risk of sounding too blase bla·sé adj. 1. Uninterested because of frequent exposure or indulgence. 2. Unconcerned; nonchalant: had a blasé attitude about housecleaning. 3. Very sophisticated. about the high grade assay results of the holes released today, it is fair to say that these results are more of the same and that, is a good thing. The total intervals of assays being released is 1,330.5 metres at an average grade of 65.8% iron, bringing the total released to date for the 2005 drill program to 3,081.8 metres at an average grade of 65.7% iron. If you include the 2004 drilling on Deposit No. 1 with the drill results released to date for the 2005 program, the total is 4,190.1 metres at an average grade of 65.7% iron" The primary objective of the 2005 program was to build on the successes of the 2004 program such that a new resource calculation incorporating all of the drilling would be sufficient to justify investigating the feasibility of a 10 million tonne tonne measure of weight or mass; 1 tonne=1000 kg. See also ton. per year direct-shipping iron ore operation for at least 25 years. Assay results for the remaining holes in the 2005 program are expected to be released later in January 2006 and will be followed as soon as possible thereafter, with the release of a new resource calculation for Deposit No.1 at Mary River. South Limb Although five of the holes being released today targeted the south limb of Deposit No. 1, two of these holes were unfortunately lost in overburden o·ver·bur·den tr.v. o·ver·bur·dened, o·ver·bur·den·ing, o·ver·bur·dens 1. To burden with too much weight; overload. 2. To subject to an excessive burden or strain; overtax. n. 1. . A third hole, MR1-05-64, recorded an interval of 28.0 metres grading 67.6% iron before being abandoned due to technical drilling problems, at a depth of 152.0 metres. The hole ended in high grade mineralization and is located almost 400 metres southeast of the axis of the the diameter of the sphere which is perpendicular to the plane of the circle. See also: Axis fold between the north and south limbs. Hole MR1-05-58 was drilled on the same section and successfully intersected four intervals totalling 164.1 metres at an average grade of 65.9% iron, with the thickest and highest-grade interval being 93.4 metres grading 66.7% iron. In addition, hole MR1-05-67, collared on section with hole S-2 drilled in the 1960's, was a steep hole drilled to a depth of 211.0 metres, intersected three intervals totalling 145.4 metres at an average grade of 68.6% iron, with the thickest intercept intercept in mathematical terms the points at which a curve cuts the two axes of a graph. being 102.0 metres grading 68.8% iron. North Limb Eight of the holes being released today targeted the north limb of Deposit No. 1. The most northerly hole being released today is hole MR1-05-65 drilled approximately 400 metres northwest of the axis of the fold between the north and south limbs and on section with hole MR1-05-48, released previously. Hole MR1-05-65 intersected six intervals totalling 145.6 metres at an average grade of 66.5% iron. Hole MR1-05-54 was collared about 75 metres southwest of hole MR1-05-65, intersected two intervals totalling 150.8 metres at an average grade of 64.3% iron. Holes MR1-05-59 and 62, drilled to depths of 323.0 metres and 437.0 metres respectively, were on the same section about 75 metres southwest of the section of hole MR1-05-54. The upper hole, MR1-05-59 cut six intervals totalling 143.4 metres at an average grade of 64.7% iron while the lower hole MR1-05-62 intersected 142.5 metres in four intervals at an average grade of 62.5% iron. Hole MR1-05-55, located about 150 metres southwest of hole MR1-05-62, cut a narrow width of high grade iron before being abandoned due to caving cave n. 1. A hollow or natural passage under or into the earth, especially one with an opening to the surface. 2. A storage cellar, especially for wine. v. caved, cav·ing, caves v. . About 200 metres southwest of the section containing hole MR1-59 and 62, hole MR1-05-57 and 60 were collared along section both to expand known mineralised zones and also to increase confidence levels in historic data. Hole MR1-05-60 effectively twined S-6 from the 1960's drill program and cut a cumulative 120.0 metres of 68.8% iron in four intervals, before entering the footwall foot·wall n. Geology 1. The mass of rock underlying a mineral deposit in a mine. 2. The underlying block of a fault having an inclined fault plane. schists. Hole MR1-05-57 intercepted a cumulative 229.8 metres of 64.8% iron in four intervals, the thickest being 128.1 metres grading 67.7% iron. The final hole being reported today was hole MR1-05-63. It was drilled high up in the deposit, at hole S-5 also drilled in the 1960's, and collared about 150 metres southwest of hole MR1-05-60. Hole MR1-05-63 intersected a single interval of 59.0 metres grading 68.6% before being abandoned due to caving at a depth of only 87.0 metres. Conclusions The management of Baffinland continues to be pleased with the quality of the drill results and believes that this data bodes well for the eventual results of a new resource calculation that will be completed after all of the assay data is available from the 2005 program. Assay data for the remainder of the holes drilled in 2005 is expected to be released in one additional batch, later in January 2006, when the data becomes available from Lakefield. Michael T. Zurowski, Executive Vice President and COO (Cell Of Origin) See mobile positioning. , stated, "The high grade iron mineralization persists throughout Deposit No. 1, while phosphorus phosphorus (fŏs`fərəs) [Gr.,=light-bearing], nonmetallic chemical element; symbol P; at. no. 15; at. wt. 30.97376; m.p. 44.1°C;; b.p. about 280°C;; sp. gr. 1.82 at 20°C;; valence −3, +3, or +5. , a significant deleterious deleterious adj. harmful. element in iron ores that makes steel more brittle (jargon) brittle - Said of software that is functional but easily broken by changes in operating environment or configuration, or by any minor tweak to the software itself. Also, any system that responds inappropriately and disastrously to abnormal but expected external stimuli; e. , averaged less than 0.03% for the holes released today, well below the current standard for high quality directly shipped ores." The drill hole assay composites were calculated by Michael T. Zurowski, P. Eng P. ENG Professional Engineer P. ENG process engineer ., a Qualified Person as defined by National Instrument 43-101. This press release includes certain "Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of section 21E of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Act of 1934, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. . All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Baffinland Iron Mines Corporation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statement. Important factors that could cause actual results to differ materially from Baffinland's expectations are disclosed under the heading "Risk Factors" and elsewhere in Baffinland's documents filed from time to time with the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. Inc. and other regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities .
Summary of Drill Hole Assays
(True width is approximately 70-80% of core length)
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Drill TD From To Interval SiO2 Al2O3 Fe P S
Hole (m) (m) (m) (m) % % % % %
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MR1-04-54 314.0 119.0 233.8 114.8 6.4 1.3 64.2 0.098 0.30
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269.5 305.5 36.0 1.9 0.4 64.5 0.007 1.02
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MR1-05-55 95.0 87.0 88.9 1.9 9.5 0.5 63.0 0.053 0.23
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MR1-05-56 42.0 Lost in overburden
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MR1-05-57 318.0 13.8 74.0 60.2 7.0 2.1 61.2 0.037 0.01
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82.8 115.0 32.2 5.3 0.8 61.9 0.078 0.08
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175.3 303.4 128.1 1.6 1.2 67.7 0.004 0.29
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306.5 315.8 9.3 9.4 2.3 59.3 0.088 0.61
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MR1-05-58 242.0 45.0 72.0 27.0 1.3 0.6 68.3 0.009 0.07
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81.3 115.8 34.5 9.1 1.1 62.6 0.058 0.33
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130.6 224.0 93.4 1.3 0.9 66.7 0.004 0.97
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226.0 235.2 9.2 1.5 0.7 63.3 0.003 1.56
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MR1-05-59 323.0 78.8 82.8 4.0 6.3 0.6 60.6 0.004 0.06
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93.0 99.7 6.7 11.0 0.3 58.6 0.012 0.47
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136.1 146.6 10.5 2.7 1.1 63.2 0.002 0.85
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192.0 308.3 116.3 3.3 1.1 65.3 0.003 0.42
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313.1 316.8 3.7 3.6 0.6 64.3 0.004 0.86
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318.4 320.6 2.2 3.6 0.3 67.2 0.007 0.15
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MR1-05-60 181.0 51.5 85.0 33.5 1.0 1.2 67.9 0.002 0.02
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89.0 109.5 20.5 0.2 0.5 69.7 0.002 0.01
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111.0 112.5 1.5 0.3 0.5 69.7 0.007 0.05
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114.0 178.5 64.5 0.2 0.3 69.2 0.004 0.11
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MR1-05-61 46.0 Lost in overburden
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MR1-05-62 437.0 243.0 257.7 14.7 6.4 0.5 58.7 0.073 0.65
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259.0 271.0 12.0 7.5 2.6 56.7 0.078 0.14
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303.1 307.7 4.6 3.6 2.1 64.3 less 1.24
than
0.003
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318.7 429.9 111.2 2.4 1.1 63.6 0.005 0.64
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MR1-05-63 87.0 13.0 72.0 59.0 0.4 0.8 68.6 0.013 0.01
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MR1-05-64 152.0 124.0 152.0 28.0 1.6 0.5 67.7 0.022 0.02
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MR1-05-65 278.0 30.0 42.9 12.9 3.0 2.1 63.7 less 0.02
than
0.003
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106.7 119.3 12.6 2.1 1.1 68.4 less 0.01
than
0.003
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120.5 134.5 14.0 6.2 1.9 64.5 0.004 0.33
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141.9 198.5 56.6 2.5 1.3 66.9 0.174 0.44
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215.9 219.5 3.6 4.8 0.6 67.0 0.003 0.01
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224.2 270.1 45.9 1.1 0.5 67.0 0.017 1.26
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MR1-05-66 292.0 Assays pending
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MR1-05-67 211.0 7.0 29.4 22.4 1.3 1.3 67.7 0.025 0.01
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43.0 64.0 21.0 1.0 0.9 68.5 0.015 0.01
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67.5 169.5 102.0 0.5 0.6 68.8 0.007 0.03
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NOTE: To view the Mary River Iron Ore Deposits, Baffin Island, Nunavut - Drilling Plan Map please visit the following link: http://www.ccnmatthews.com/docs/bim0110.pdf THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. Baffinland Iron Mines Corporation (TSX VENTURE:BIM) |
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