Jun. 14, 2011 (Baystreet.ca) --
Black
Iron Inc. (TSX: BKI) is an iron ore
exploration and development company with a 100%-owned project (Shymanivske)
near Krivoy Rog in central Ukraine.
Shymanivske
has an iron ore mining extraction permit, good until 2024, over 2.56 square
kilometres of land. The project, which has an NI 43-101 compliant resource with
345 Mt Measured and Indicated resources grading 32% iron and 469 Mt of Inferred
resources grading 31% iron, is surrounded by five other operating mines,
including ArcelorMittal’s substantive iron ore complex.
The Company’s primary focus for 2011 is further
exploration of Shymanivske, to potentially increase the resource size plus
classification, and conduct a scoping study.
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