NunaMinerals has applied for a new exclusive license covering the most
prospective ground for iron within the >80 km long magnetic high at Inglefield
Land. The exclusive license coverage is now 1,342 km2 against the previous 247
km2.
The company has also signed an agreement with Canadian company, Sanders
Geophysics, regarding a combined gravity and magnetic survey of approximately
10,000 line-kilometers. The survey will be conducted from a base in the town of
Qaanaaq situated 100 km south of Inglefield Land.
”The combination of gravity and magnetic measurements will allow us to make a
better estimate of the tonnage potential of the Minturn magnetite body. The
survey could also reveal any new exploration targets along the magnetic high”,
says Ole Christiansen, CEO of NunaMinerals.
In January, NunaMinerals announced the discovery of a Kiruna-type iron deposit
coinciding with the Minturn magnetic anomaly at Inglefield Land, North
Greenland. The Minturn anomaly is up to 200 m wide, can be traced over a
distance of 7 km, and is part of a >80 km long, linear magnetic high. The
average iron content of five surface
float samples, taken from the vicinity of the anomaly peak, is 62.4% Fe. The
contents of other elements fall mostly within acceptable industry values.
During 2010, NunaMinerals is planning to extract large samples for
metallurgical testing. The company is also considering mobilizing a drill rig
in late 2010 with the aim of test drilling the most prospective targets in
2011.
Announcement is given in attached file.
