Alderon Intersects 30% Iron Over 429 Meters
08 October 2010 - 12:00AM
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:
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From To
Drill Hole (meters) (meters) Length (meters) Total Iron %
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K-10-37A 148.3 577.3 429.0 30.0
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including 326.4 371.6 45.2 33.6
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and 458.5 549.0 90.5 33.3
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K-10-39A 12.7 370.7 358.0 28.7
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including 12.7 104.8 92.1 32.6
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and 121.1 226.0 104.9 32.3
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K-10-40 15.0 123.0 108.0 32.1
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145.4 210.7 65.3 31.4
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"The grade and width consistency at Kami is great to see," says
Matt Simpson, Chief Operating Officer of Alderon. "Not only are we
drilling within the mineralized zone that was previously outlined,
but we continue to step outside the boundary and still see great
mineralization."
All drill holes to date have tested the north eastern half of
the Rose Lake Central Zone. Holes K-10-39A and K-10-40 were drilled
within the known mineralized envelope, whereas K-10-37A was
collared 210 meters to the southwest and confirms the extension of
the mineralized zone.
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
36% and 60% 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
Morabito 604-681-8030 604-681-8039 (FAX)
mmorabito@explorationgroup.com Alderon Resource Corp. - Toronto
Office 416-309-2135 416-861-5887 (FAX) info@alderonmining.com
www.alderonmining.com
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