Northern Iron Corp. Strengthens Board Due to Focus on Asian Markets
Vancouver, British Columbia, Canada / TheNewswire / October 19, 2016 - Northern Iron Corp. ("Northern Iron" or the "Company") (TSX-V: NFE) (FRANKFURT: N8I) today announced the appointment of Michael Li to the board of directors.
Michael Li, is the founder and currently CEO of OMC a Hong Kong trading company. Michael has over 25 years' experience in iron ore trading in the steel industry. Following a 14-year career at Mitsubishi Corporation, Michael co-founded the Normet Group in 2004. Normet primarily invested in and traded iron ore and steel products between China and the United States, Australia and Europe.
Basil Botha, Chairman and President said; "Given our focus on China and the market for lithium in that country, Michael Li is a natural fit for the NFE board. Over the years we have been associated with him, Michael has demonstrated an excellent network of key relationships with domestic heavy industries in China, as well as many high level contacts in major enterprises in both public and private sectors in Asia."
"Michael's primary objective will be to open doors for our corporate development executive to the senior ranks of strategic investors and buyers in China, looking to secure future supplies of lithium."
About Northern Iron Corp.
Northern Iron Corp. has 3 highly prospective lithium properties in Nevada and Arizona.
Jackpot Lake -Moapa Valley, Nevada
-100% owned -2800 acres - 140 claims;
-35 km NE of Las Vegas;
-1976 USGS completed 129 core samples;
-Spectrographic and atomic-absorption analyses of 135 stream sediment
samples confirmed potential for lithium mineral deposits;
-Highest Lithium value was 550ppm, average 175 ppm.
Wilcox Playa -Arizona
-1400 acres on shore of Wilcox Playa - Dry lake bed
-In 1976 USGS identified this area as one of the most prospective locations for lithium brines and highly analogous to Clayton Valley
-USGS has identified a 22 sq. mile anomaly with high electrical conductivity, interpreted as subsurface brine field with no hydrological outlet.
Little Rock Lithium Target - Yavapai County - Arizona
-High grade, lithium rich lacustrine clay
-Target is 2500 metres along strike ~ 20 metres thick
-Identified via electromagnetic survey in 2007
-Large, highly electrically conductive body
-Clay-altered rhyolite tuff.
-Grab sample 172 ppm Li
-Clayton Valley sediments are between 73 and 220ppm
Timothy Marsh PHD, P. Eng QP prepared the disclosures and reports related to these projects.
Northern Iron is also the owner of five iron (magnetite) properties in the Red Lake District in the Province of Ontario. The Red Lake District is an established mining region where Northern Iron has two near term development projects, the past producing Griffith mine and the Karas property.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For further information, please contact:
Basil Botha
President & CEO
Northern Iron Corp.
Tel: 604-566-8570
Fax: 604-602-9868
Email: bbotha@northernironcorp.com
Website: www.northernironcorp.com
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