Business
Northern Iron to pump 2.5 million cubic meters of water in the first phase from the Griffith Mine Pit
First phase of dewatering 60% complete Water level in the pit has dropped by 2.1 m...
About this update from Ares Strategic Mining Inc
[{"type":"text","content":"\n\n\n\n\n\nFirst phase of dewatering 60% complete \n\n\nWater level in the pit has dropped by 2.1 metres (7 feet)\n\n\nDewatering to continue into the third week of December \n\n\nVANCOUVER, Dec. 3, 2012 /CNW/ - Northern Iron Corp. (\"Northern\" or the \"Company\") (TSX-V: NFE) (OTCQX-\n NHRIF) (FRANKFURT: N8I) today announced that dewatering operations on the Griffith Mine pit\n continue to progress as planned and water is being pumped at an\n approximate rate of 53,000 litres per minute. The pumps have been\n winterized and preparations have been made to keep the dewatering\n program running into December.\n\n\nBasil Botha, President and CEO said; \"Dewatering the Griffith mine pit\n will allow our drills to get onto the first tier of benches and the\n drill program should be completed over the summer months in 2013. The\n data will provide the necessary information to work towards a\n preliminary economic assessment and take us another step closer to\n achieving our objective of putting this past producing mine back into\n production.\"\n\n\nTo date, an estimated 1.5 million cubic meters of water has been pumped\n from the pit and the team is working towards pumping a further million\n cubic metres for a total of 2.5 million cubic metres before shutting\n down for the winter.\n\n\nAbout Northern Iron Corp.\n\n\nThe Company is a 100% owner of five iron ore properties in the Red Lake\n district containing over 500 million tonnes of historical resources\n with grades ranging from 22% to 31% Fe. The Red Lake district is\n situated in an established mining area in Ontario, where the company\n has two near term development projects, the past producing Griffith\n mine and the Karas property.\n\n\nA qualified person has not done sufficient work to classify the\n historical estimate as current mineral resources, the issuer is not\n treating the historical estimate as current mineral resources.\n\n\nThe Company is currently working towards the production of HBI, a\n transportable form of direct reduced iron.  HBI is complementary and a\n viable metallic alternative to scrap steel. Quality scrap is a critical\n raw material in the steel making process. With the diminishing supply\n of quality scrap steel and ever increasing market demand, steel\n producers around the world will be looking to secure alternative\n supplies of metall...