Tue, 05 May 2015 12:03:52 +0200

Nordic Iron Ores presents an updated assessment of the mineral resources in Blötberget

As part of the ongoing techno-economic feasibility study for the restart of operations at the Blötberget mine, Nordic Iron Ore AB (publ) is today publishing a fresh assessment of the mineral resources. As of 13 April 2015, measured, indicated and inferred mineral resources in Blötberget amount to 42.5 Mt with 41.9% iron, 5.3 Mt with 38.2% iron and 5.4 Mt with 33.5% iron, respectively. 

During 2014 Nordic Iron Ore, as part of the ongoing feasibility study for the restart of the mine in Blötberget, has carried out an additional drilling programme aimed at upgrading the classification of the mineral resources.

The estimates that have now been made show that measured and indicated mineral resources in Blötberget have increased compared with previous estimates, despite the use of a higher cut-off grade (25%Fe as against the previous 15%Fe).

The following table shows the mineral resources in Blötberget in April 2015, based on a reporting threshold of at least 25% iron content.

Blötberget Mt % Fe
Measured 42.5  41.9%
Indicated 5.3 38.2%
Measured+indicated 47.8 41.5%
Inferred 5.4 33.5%
Total, incl. inferred 53.2  40.7%

All the mineralisations investigated are, as before, open at depth. The prospects of further increasing the mineral resources through additional drilling campaigns are therefore judged to be very good.

The independent technical report by DMT will be published on the Company’s home page.

All the mineral resources have been assessed in accordance with the guidelines set out in the JORC Code (2012 edition). The assessments have been made by Tim Horner, Competent Person at DMT Consulting Ltd, and verified by the Company’s independent Competent Person, Thomas Lindholm.

This press release has been reviewed and approved by Thomas Lindholm, who is a Competent Person qualifed, as defined by the JORC Code, to report on mineral resources, based on his training and experience in prospecting, mining and assessment of mineral resources for iron, base metals and precious metals.

For further information: Christer Lindqvist, CEO 46 (0)240-88301

Nordic Iron Ore Group is a mining company with the ambition to revive and develop the iron ore production of Ludvika Mines in Blötberget and Håksberg. The company also intends to expand its mineral resources, and upgrade them to ore reserves, primarily through exploration and other studies of the connecting Väsman field. For more information, see www.nordicironore.se.