Nevada Iron Ltd. Files Quarterly Report for Period Ending 30 June 2014
30.07.2014 | Marketwired
PERTH, WESTERN AUSTRALIA -- (Marketwired - July 30, 2014) - Nevada Iron Ltd (the Company) (ASX:NVI) (TSX:NVR) is pleased to provide the following quarterly report for the period ending 30 June 2014.HIGHLIGHTS
- Non-binding term sheet signed with a large US based group for the design, funding, construction and operation of logistical elements of the Buena Vista Iron Project
- Samuels Engineering completes design of process plant to sufficient level to support remaining permit applications
- Search process for US based CFO commenced as project debt and funding activities ramp up
- Drilling at Section 27 prospect returns further broad, at surface iron mineralisation including:
-- 33.5 metres grading 20.1% Total Fe in hole 2714-002
-- 76 metres grading 22 % Total Fe in hole 2714 -003, including 9.7m grading 52.1% Total Fe
-- 30.4 metres grading 21.9% Total Fe in hole 2714-004
-- 80.8 metres grading 23.4% Total Fe in hole 2714-006, including 6.5m grading 51.8% Total Fe and 3.2m grading 60% Total Fe
-- 73.1 metres grading 20.0% Total Fe in hole 2714-009
Overview
Nevada Iron Ltd (ASX:NVI) (TSX:NVR) is a resource company focused on the development of the Buena Vista Iron Project located in northern Nevada, USA. This project demonstrates the attributes for a successful iron ore development, namely:
- Near surface resource
- Very low waste to ore ratio (<0.5:1)
- Easy metallurgy with a coarse grind producing a high grade (67.5-69% Fe) clean concentrate
- Close to existing nearby transport infrastructure and no requirement to build significant infrastructure, eg a rail line
- Access to multiple existing ports
- Manageable capital cost
- Stable and mining friendly jurisdiction
- No government royalty imposts
- Phase 1 project on private land, making permitting less onerous
To view the full announcement please click the link below: http://www.nv-iron.com/2011-08-15-01-49-08/asx-releases
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ABN 98 123 423 987
Contact
Nevada Iron Limited
Michelle McAuliffe
+61(8) 9481 6006
michelle.mcauliffe@nv-iron.com
www.nv-iron.com
