Ontario, Canada-based mineral exploration company Canadian Orebodies Inc. announced Monday the initial estimates for the Haig Inlet. The National Instrument (NI) 43-101 Mineral Resource estimate--conducted by G H Wahl & Associates Consulting--used data from the 2011 Haig Inlet Iron Ore Project. The estimate results indicated iron ore resources of 230 million tons at 35.17 percent iron and an additional inferred resource of 289 million tons at 35.47 percent.
"We are extremely excited about this initial resource estimate for Haig Inlet, which we believe represents a significant first step toward establishing the Belcher Islands as a new iron ore district in Canada," says Gordon McKinnon, President and CEO of Canadian Orebodies.
The mineral resource estimate for the Haig Inlet Deposit is based on results from 64 diamond drill holes totaling 9,119.2 meters and is effective as of February 6, 2012.