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Dannemoras Mineral Reserve Updated

Industry News 09:58:11AM Jan 16, 2012 Source:SMM

* Reuters is not responsible for the content in this press release.
 
Thu Jan 12, 2012 2:33am EST

An update of the Dannemora Mineral Reserve was concluded December 23. 2011. The new estimate of the Mineral Reserve shows an increase with 6.9 million tonnes to a total of 35.1 million tonnes, while the iron content in the crude ore has decreased with 0.94 percent. The entire Mineral Reserve is classified as probable.

The basis for this estimate is the updated Mineral Resource which was reported in August 2011 and includes the recently core drilled mineralization Norrnäs 3 and a change of the cut-off grade to 20 percent iron. The former estimate was based on a cut-off grade of 30 percent iron.

The lower cut-off grade affects the amount of waste rock and consequently the iron content.

The reported tonnage and waste rock dilution are a function of the chosen mining method, sublevel caving. The wall rock in Dannemora is generally very stable. In the estimated mineral reserve it is assumed that, in most cases, one meter of wall rock will dilute the ore. This wall rock is assumed to contain five percent iron.

The reported Mineral Reserve includes 14 different mineralizations distributed along the total length of the ore field, 3 kilometers. In order to achieve an even quality of products, the feed of crude ore into the sorting plant must be blended from different ore bodies. The crude ore will be treated in a dry magnetic process (under construction) that is designed to produce 60 per cent lump ore and 40 percent fines. The lump ore will contain 50 percent iron and the fines 55 percent iron.


Read Report and Press Release below
Dannemora Ore Reserve
Press Release 12 January 2012

--------------------------------------------------------------------------------

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Dannemora Mineral AB via Thomson Reuters ONE

 

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Dannemoras Mineral Reserve Updated

Industry News 09:58:11AM Jan 16, 2012 Source:SMM

* Reuters is not responsible for the content in this press release.
 
Thu Jan 12, 2012 2:33am EST

An update of the Dannemora Mineral Reserve was concluded December 23. 2011. The new estimate of the Mineral Reserve shows an increase with 6.9 million tonnes to a total of 35.1 million tonnes, while the iron content in the crude ore has decreased with 0.94 percent. The entire Mineral Reserve is classified as probable.

The basis for this estimate is the updated Mineral Resource which was reported in August 2011 and includes the recently core drilled mineralization Norrnäs 3 and a change of the cut-off grade to 20 percent iron. The former estimate was based on a cut-off grade of 30 percent iron.

The lower cut-off grade affects the amount of waste rock and consequently the iron content.

The reported tonnage and waste rock dilution are a function of the chosen mining method, sublevel caving. The wall rock in Dannemora is generally very stable. In the estimated mineral reserve it is assumed that, in most cases, one meter of wall rock will dilute the ore. This wall rock is assumed to contain five percent iron.

The reported Mineral Reserve includes 14 different mineralizations distributed along the total length of the ore field, 3 kilometers. In order to achieve an even quality of products, the feed of crude ore into the sorting plant must be blended from different ore bodies. The crude ore will be treated in a dry magnetic process (under construction) that is designed to produce 60 per cent lump ore and 40 percent fines. The lump ore will contain 50 percent iron and the fines 55 percent iron.


Read Report and Press Release below
Dannemora Ore Reserve
Press Release 12 January 2012

--------------------------------------------------------------------------------

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Dannemora Mineral AB via Thomson Reuters ONE