Alderon Intersects 31% Iron Over 468 Metres
15 September 2010 - 11:00PM
Marketwired
Alderon Resource Corp. (TSX VENTURE: ADV)(OTCQX: ALDFF) ("Alderon")
is pleased to announce assay results from the ongoing drill program
on the Kamistiatusset ("Kami") Iron Ore Project in western
Labrador. Highlights include:
---------------------------------------------------------------
From To Length Total
Drill Hole (meters) (meters) (meters) Iron %
---------------------------------------------------------------
K-10-32 34.4 189.3 154.9 30.2
---------------------------------------------------------------
---------------------------------------------------------------
K-10-33 60.0 297.0 237.0 28.9
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including 123.2 297.0 173.8 30.0
---------------------------------------------------------------
---------------------------------------------------------------
K-10-34 39.3 507.0 467.7 31.3
---------------------------------------------------------------
---------------------------------------------------------------
K-10-35 59.6 188.3 128.7 29.9
---------------------------------------------------------------
"It's great to see continuous strong results," says Mark
Morabito, President & CEO of Alderon. "We are on our way to
reach our goal of defining 400 to 500 million tonnes at a grade
between 28 and 32% iron."
All drill holes to date have tested the northeast portion of the
Rose Lake Central Zone. The latest holes further confirm the
continuity as well as the extension of the mineralized zone ahead
of the National Instrument 43-101 resource estimate scheduled for
the first quarter of 2011. The potential tonnage and grade quoted
above are conceptual in nature and it is uncertain if further
exploration will delineate a mineral resource.
Complete assay highlights with drill plan maps and sections are
posted on the Alderon website at:
http://www.alderonmining.com/projects/kami/
True widths of the reported intercepts vary depending on the
angle of the individual drill holes and are estimated to be between
10% and 100% of the core interval as reported. Samples were
prepared from sawn NQ-sized half-core sections on site in Labrador.
Split drill core samples are then sent to SGS Mineral Services in
Lakefield, Ontario for analyses. Total iron analysis is performed
using X-ray fluorescence (XRF) and the magnetic component is
determined by Satmagan magnetic analysis. Standards, blanks, and
duplicate assays are included at regular intervals in each sample
batch submitted from the field as part of an ongoing Quality
Assurance/Quality Control program.
About Alderon
Alderon is a leading iron ore exploration and development
company in Canada. The Kami Project is located within an existing
iron ore district and is surrounded by producing iron ore mines.
The Alderon team is comprised of skilled professionals with
significant iron ore expertise to advance Kami towards
production.
Alderon's exploration work on the Kami Property is supervised by
Edward Lyons, P.Geo., the Chief Geologist for Alderon and a
Qualified Person as defined by NI 43-101. Mr. Lyons has verified
that the assay results presented above have been accurately
summarized from the official assay certificates provided to
Alderon.
For more information on Alderon, please visit our website at
www.alderonmining.com.
ALDERON RESOURCE CORP.
On behalf of the Board
Mark J. Morabito, President & CEO
This news release may contain forward-looking statements. These
statements are based on current expectations and assumptions that
are subject to risks and uncertainties. Actual results could differ
materially because of factors discussed in the management
discussion and analysis section of our interim and most recent
annual financial statement or other reports and filings with the
TSX Venture Exchange and applicable Canadian securities
regulations. We do not assume any obligation to update any
forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Alderon Resource Corp. - Vancouver Office Mark J.
Morabito President & CEO 604-681-8030 604-681-8039 (FAX)
info@alderonmining.com www.alderonmining.com
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