Ivanhoe’s Kipushi zinc mine in the DRC officially reopens
The restart marked exactly a century since the mine first went into production.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 8, 2011) – Zone Resources Inc. (Zone) (TSX VENTURE:ZNR)(FRANKFURT:7ZR) is pleased to announce that the company has received analyses of grab samples from outcropping zones of iron formation on its Moore property. The previously unreported zones were disclosed in a news release dated August 31st, 2011. All the samples are grab samples and do not necessarily reflect the average grade of the zones from which they were taken.
On the Creek Zone, two grab samples of magnetite iron formation contained 35.48% and 41.96% Fe. Three samples of siderite/ankerite iron formation reported analyses of 23.71%, 16.83% and 24.78% Fe. Total thickness of iron formation in this zone appears to be approximately 160 metres.
A single composite grab sample from a zone of magnetite iron formation that appears to be 100 metres thick on the North Slope Zonereturned an analysis of 36.38% Fe.
The Ross Mountain Zone exposes iron formation over a length of 3 kilometres, with a thickness of about 80 metres. A single grab sample of magnetite iron formation contained 36.42% Fe, and a grab sample of interbedded magnetite-siderite iron formation reported 37.45% Fe. Three samples of siderite/ankerite/dolomite iron formation gave analyses of 23.53%, 24.17% and 5.46% Fe.
Two samples of siderite iron formation from the North River Zone, that appears to be at least 95 metres thick, contained 15.24% and 27.60% Fe.
A single grab sample of magnetite iron formation from Zone A, a 34 meters wide zone, located in the northwestern part of the Moore property contained 36.13% Fe. This zone was not previously reported as it appeared to be relatively small and was visually estimated to be low grade.
It appears that previous work on the property, in the early 1950s, concentrated mainly on hematite zones, because all the high grade (“direct shipping ore” or “DSO”) mineralization in the Labrador Trough comprised mainly hematite. At that time, iron ores that required beneficiation (usually referred to as “taconite”) were not of interest. Now that world resources of DSO are being depleted and the price of iron is improving, the taconites are becoming economically important.
Analyses reported in this news release were performed by ActLabs of Ancaster, Ontario using X-Ray fluorescence analysis. Technical material in this news release has been reviewed by Mike Magrum, P.Eng., a Qualified Person as defined in NI 43-101. Estimated thicknesses of zones as quoted in this news release are base on dips measured on outcrops and have not been verified by drilling. All the analyses quoted in this news release were performed on grab samples and should not be taken as being representative of the zones from which they were collected.
About Zone Resources Inc.
Zone Resources Inc. is in the business of evaluating and acquiring oil and natural gas properties for exploration and development. The Company’s shares trade on the TSX Venture Exchange under the symbol ZNR.
Cautionary note:
This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as “reserves” unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
