As outlined previously, the goal of the 2021 drill program has been to upgrade a sufficient portion of the current North Zone Inferred Mineral Resources to the Measured and Indicated Categories to support a minimum 20-year mine life as the basis for a Feasibility Study that is currently underway. As reported in the compliant NI 43-101 Technical Report - Mineral Resource Estimate of the
Assay Results
Table 1 below presents assay results for the final 6 drill holes. As per the previous 36 drill holes reported, visual examination and magnetic testing (MPP) of the most recent drill core continues to support the intersection of mineralized material as predicted by the block model completed in 2020. Davis Tube Test work to confirm expected concentrate grades for both iron and vanadium is in progress. We expect to be able to present an updated NI 43-101 resource report in early Q2/22 to support the Feasibility Study ('FS').
Table 1 shows the assays results for hole 47 which was drilled at surface directly into the iron mineralization from the crest of the
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Cautionary Note Regarding Forward-Looking Statements:
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This news release contains 'forward looking statements' or 'forward-looking information' (collectively 'Forward-Looking Statements') that involve a number of risks and uncertainties. Forward Looking Statements are statements that are not historical facts and are generally, but not always, identified by the use of forward looking terminology such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'guidance', 'outlook', 'intends', 'anticipates', 'believes', or variations of such words and phrases or that state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved, or the negative of any of these terms or similar expressions. The Forward-Looking Statements in this press release relate to, among other things: the future exploration performance of the Company. Forward Looking Statements are based on certain key assumptions and the opinions and estimates of management and Qualified Persons (in the case of technical and scientific information), as of the date such statements are made, and they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any other future results, performance or achievements expressed or implied by the Forward Looking Statements. In addition to factors already discussed in this news release, such factors include, among others: there being no assurance that the Company will upgrade a significant portion of the
The reader has been cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward Looking Statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that Forward Looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company's Forward Looking Statements reflect current expectations regarding future events and speak only as of the date hereof. Other than as it may be required by law, the Company undertakes no obligation to update Forward Looking Statements if circumstances or management's estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on Forward Looking Statements.
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