Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
TORONTO, ONTARIO–(Marketwire – Oct. 12, 2011) – IronOne Inc. (“IronOne” or the “Company”) is pleased to announce that it has received analytical results from a reconnaissance mapping and surface sampling program on its Lac Virot project, located near the mining towns of Labrador City – Wabush in the Labrador Trough iron ore mining district of Labrador. The program was conducted to ground check historically mapped iron occurrences as well as magnetic anomalies outlined by a 1,000 line kilometre airborne magnetic survey completed by the Company in July 2011. Analytical results from thirty-three (33) grab and chip samples collected from exposed iron formation outcrops ranged from 16.57 to 60.5% total iron (“% Fe”), with an average for all samples collected of 30.59% Fe.
