• Wide zones of coarse grain magnetite mineralization discovered at Haig West;
• Iron mineralization delineated over an 8km trend at Haig North; and
• Working towards a revised NI 43-101 compliant resource estimate in Q1/2013.
"These initial results from this year's drilling at Haig West and Haig North confirm our beliefs about the wide spread iron mineralization on the Belcher Islands, and indicate that we have the potential to discover significant new deposits that would add to our growing resource base," said Gordon McKinnon, President & CEO of Canadian Orebodies. "We are very impressed with the strike lengths and widths at Haig West, an area that had never been previously explored -- yet this year's program is only scratching the surface in terms of exploring our continually growing land position."
To date this year a total of 5,180m has been drilled. A map of the holes drilled to date during the 2012 program is available on Canadian Orebodies' website at http://www.canadianorebodies.com/i/maps/HaigInlet/2012DrillPlan-Oct10.pdf
| Hole ID | From (m) | To (m) | Interval (m) | Total Fe (%) | Target Area |
|---|---|---|---|---|---|
| CO-12-06 | 87.65 | 138.80 | 51.15 | 27.87 | Kihl Bay |
| incl. | 89.65 | 105.90 | 16.25 | 32.03 | |
| CO-12-11 | 28.20 | 69.80 | 41.60 | 21.89 | Kihl Bay |
| CO-12-03 | 169.25 | 203.00 | 33.75 | 22.91 | Haig North |
| CO-12-04 | 96.10 | 152.00 | 55.90 | 23.90 | Haig North |
| CO-12-08 | 128.00 | 194.00 | 66.00 | 24.00 | Haig North |
| CO-12-09 | 3.00 | 68.00 | 65.00 | 24.74 | Haig West |
| and | 98.00 | 143.60 | 45.60 | 28.32 | |
| incl. | 100.00 | 115.10 | 15.10 | 33.91 | |
| CO-12-13B | 178.45 | 235.25 | 56.80 | 28.48 | Haig West |
| incl. | 178.45 | 198.30 | 19.85 | 33.82 | |
| CO-12-14 | 20.00 | 99.30 | 79.30 | 25.26 | Haig West |
| and | 125.90 | 181.80 | 55.90 | 28.93 | |
| incl. | 125.90 | 142.05 | 16.15 | 35.93 | |
| CO-12-15 | 25.00 | 127.50 | 102.50 | 25.84 | Haig West |
| incl. | 29.00 | 43.00 | 14.00 | 34.60 | |
| and | 157.00 | 211.35 | 54.35 | 28.46 | |
| incl. | 158.40 | 173.10 | 14.70 | 34.80 |
Haig West Shows Widest Intersections of Iron Mineralization to Date
At Haig West, drilling over a 25 kilometer strike extent has encountered the west dipping iron formation in 13 drill holes. All drill holes at Haig West were collared to intersect the magnetic anomaly which extends across the entire strike length. At the southern extent of the Haig West property there is a 4.5 kilometer long outcrop of iron formation which confirms the zone intersected at depth extends to surface.
Iron Mineralization Intersected 17 Kilometers North of Haig Inlet Deposit
Drilling on the Haig North area is comprised of 4 holes at 2 kilometer step-outs indicating excellent continuity of the east dipping iron formation over the 8 kilometer strike length. These holes run north along the iron formation on the north-west side of Flaherty Island, beginning approximately 10 kilometers north of the Haig Inlet Deposit.
Belcher Islands Advantage -- Direct Ocean Shipping Potential