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Logan Resources update on Redford iron ore potential, Pacific west coast of Vancouver Island
VANCOUVER, June 18 /CNW/ - Logan Resources Ltd. (TSXV:LGR) As previously reported, the Redford pr...
About this update from Intrepid Metals Corp.
[{"type":"text","content":"\n\n\n\nVANCOUVER, June 18 /CNW/ - Logan Resources Ltd. (TSXV:LGR) As previously\nreported, the Redford property hosts the Brynnor Iron (magnetite) deposit,\nlocated 15 km east of Ucluelet on the Pacific west coast of Vancouver Island,\nBritish Columbia. The deposit is situated 12 km (7.5 miles) from tidewater,\nwhich can be accessed directly via an existing, well maintained 2-lane road.\nLogan holds a 100% interest in the Redford property with no third party\nroyalties or interests.\n\n\nNoranda Exploration Ltd. operated an open pit mine from 1962 to 1967 and\nproduced 3 million tonnes of iron concentrate with an average grade of\n63.8% iron (from 4.5 million tonnes of ore mined). In 1964 Noranda completed a\nshaft to 260 metres and cut stations at the 122, 183 and 228-metre levels. A\npermanent steel head frame was completed in 1965. In June 1966, due to a labor\ndispute, operations ceased and were not renewed until March 1967. Open pit\nproduction continued until year-end 1967 with stockpiled ore being processed\nuntil April 1968 when all operations ceased. No underground mining was\nundertaken.\n\n\nThe shaft sinking by Noranda was based on drilling which identified a\nfault-offset extension of the open pit zone. The zone extends from near\nsurface to at least 250 metres below surface along a strike length of 240\nmetres, with an average true thickness of approximately 20 metres. The zone\nstrikes in an east-southeast direction, dips approximately 60 degrees to the\nnorth and is open at depth and along strike to the east. Based on two drill\nsections available in BC government records, the geological potential of the\ndrilled area of the undeveloped deposit is 8 to 10 million tonnes at similar\ngrades to the historic average grade of the open pit, which indicates\npotential for 5 to 7 million tonnes of iron concentrate grading 63.8%. This\npotential quantity and grade is conceptual in nature. There has been\ninsufficient exploration to define a "Mineral Resource" as defined in NI\n43-101, and it is uncertain if further exploration will result in the target\nbeing delineated as a Mineral Resource.\n\n\nLogan is currently attempting to acquire detailed information related to\nthe historical drilling on the property. Logan intends to drill a number of\nholes later this year to confirm the historical data and to extend...