22.03.2006 16:58:00
|
Northland Starts Two Swedish Drill Programs
Barsele-Norra Gold Project, Sweden
Northland's geologists are planning up to 2,500m of core drillingin the current program at the Barsele / Norra gold project: the finalmeterage will depend on the timing of the spring thaw. The objectivesof the program are to continue with the larger diameter drillingwithin the limits of the existing resource to confirm the potential toincrease the average gold grade in the resource, and to convertinferred resources to indicated resources. A more extensive program isplanned for later in the year once additional rigs have been secured.
Stora Sahavaara
A second drill rig has arrived at the Stora Sahavaara magnetiteiron project and drilling is underway. Up to 2,000m of core drillingis planned, depending on the timing of the spring thaw. Northland'stechnical staff have completed an internal company resourcecalculation which is currently being reviewed by an independent thirdparty consultant. Management's objective for the coming year is tooutline a resource of at least 200-million tonnes of magnetite atStora Sahavaara for incorporation into a full feasibility study.
NI43-101 Statement
In a news release dated March 1, 2006 Northland announced theresults of the most recent NI43-101 compliant gold resourcecalculation for the 100%-owned Barsele-Norra gold project. Thecalculation was audited by Chlumsky Armbrust & Meyer LLC (CAM), anindependent, mineral resource, consulting and engineering group basedin Lakewood, Colorado. Using a 0.7g/t Au cut off the indicated andinferred resources are:
---------------------------------------------------------------
Indicated Resources(i) at a 0.7g/t Au cut off
---------------------------------------------------------------
Zone Tonnes Grade Au g/t Contained Oz Au
---------------------------------------------------------------
Central 5,123,844 1.67 275,602
Avan 1,596,368 1.36 69,661
Norra 247,670 2.43 19,325
Skirasen 656,745 1.36 28,736
---------------------------------------------------------------
Total 7,624,627 1.60 393,324
---------------------------------------------------------------
---------------------------------------------------------------
Inferred Resources(i) at a 0.7g/t Au cut off
---------------------------------------------------------------
Zone Tonnes Grade Au g/t Contained Oz Au
---------------------------------------------------------------
Central 4,100,794 1.62 213,850
Avan 3,428,178 1.41 155,536
Norra 78,429 2.33 5,866
Skirasen 1,418,619 1.35 61,789
---------------------------------------------------------------
Total 9,206,020 1.51 437,041
---------------------------------------------------------------
(i)The resource calculation was done using the Inverse Distance
Weighting Method.
Mineral resource estimates, geostatistics and resource modelconstruction were completed using MineSight three-dimensionalmodelling software. The resource estimates were prepared by BartStryhas, PhD, structural geology, and Vance Thornsberry, P Geol. Theresource model and estimates were subsequently reviewed by ChlumskyArmbrust & Meyer LLC (CAM), an independent, mineral resource,consulting and engineering group based in Lakewood, Colorado. CAM hasreviewed the database and modeling procedures used by Northland toupdate the Central Zone model. On the basis of this review CAMbelieves that the updated Central Zone model has been preparedaccording to accepted engineering practice for project at this levelof development and that the results obtained are suitable fordetermining if further exploration work on the property is warranted.
Vance V. Thornsberry, P.Geol., Vice President of Exploration forNorthland Resources, is the Qualified Person as defined in NI43-101,responsible for overseeing the design and execution of the Barseleexploration program and for the design and execution of the StoraSahavaara drill program. In accordance with NI 43-101, Mr. Thornsberryhas verified the data disclosed in this release other than certaininformation provided by MinMet PLC.
Background
Northland Resources Inc. is a well-structured, debt free juniorexploration company with a portfolio of high quality iron, gold, andbase metal exploration projects in Sweden and Finland.
ON BEHALF OF THE BOARD
Buck Morrow
NORTHLAND RESOURCES INC.
The TSX Venture Exchange has not reviewed and does not takeresponsibility for the accuracy of this release.
Northland Resources Inc. (TSX VENTURE:NAU)
Wenn Sie mehr über das Thema Aktien erfahren wollen, finden Sie in unserem Ratgeber viele interessante Artikel dazu!
Jetzt informieren!