Logan announces initial resource estimate and preliminary economic assessment for its Brynnor Iron Deposit, Redford Property, Vancouver Island, B.C.

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[{"type":"text","content":"\n\n\n\nVANCOUVER, Sept. 9 /CNW/ - Logan Resources Ltd. (TSXV:LGR) ("Logan" or\nthe "Company") is pleased to announce that it has received an initial\nNI 43-101 compliant resource estimate and preliminary economic assessment for\nits 100% owned Brynnor Iron Deposit on Vancouver Island. The report was\nprepared by Peter George, B.Sc., P.Geo., of Geoex Limited. Mr. George (the\n"Author") is a Qualified Person as defined in NI 43-101 and has over 40 years\nexperience in the mining industry, including extensive experience in\nestimation of mineral resources and economic evaluations. Much of this news\nrelease is taken directly from the report. Highlights of the report include:\n\n\n- Measured plus indicated mineral resources of 7,070,000 tonnes grading\n 51.3% iron containing 5,750,000 tonnes of iron concentrate grading\n 63.7% iron.\n\n- Inferred mineral resources of 18,620,000 tonnes grading 51.3% iron\n containing 15,140,000 tonnes of iron concentrate grading 63.7%.\n\n- The Author concludes that the property has economic potential,\n subject to feasibility study capital and operating cost estimates\n that confirm that the measured and indicated resources can be\n categorized as proven and probable reserves.\n\n- The Property is located 3 km south of the Alberni-Tofino Highway\n (Highway 4) and is accessible by a well-maintained, all-season gravel\n road that is used for logging and tourist access to Toquart Inlet.\n The boat-loading site used by Noranda during mining operations in the\n 1960's is on Toquart Inlet, 12 road-kilometres south of the Deposit.\n Power and water is readily available in the area.\n\n- The Author concludes that the Brynnor deposit warrants additional\n work that will bring it to the production decision stage. The Author\n concludes that that the Preliminary Economic Assessment that has been\n completed as part of the report indicates significant economic\n potential for the Brynnor underground resource and recommends that a\n feasibility-level estimate of capital and operating costs be prepared\n as a basis for upgrading measured and indicated resources to proven\n and probable reserves and for a more accurate financial evaluation.\n\n- The Author recommends that a surface drilling program be undertaken\n to upgrade a portion of the current inferred resources to indicated\n ...

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