Nordic Iron Ore reports preliminary evaluation of the magnetic measurements

"We have previously been granted a mining concessiongold claims for lease in alaska for the iron ore deposit in Blötberget and we are soon expecting a decision on our application for a mining concession for the neighboring Håksberg field. The indicative results of magnetic measurements of the Väsman field can be an opportunity to develop Ludvika mines to a continuous mining fields from Håksberg in the north to the Blötberget in the south, whereas a potentially very large tonnage of the Väsman field may result in mining for many years to come."

The Väsman field is a direct southerly continuation of Håksberg Field, where Nordic Iron Ore is preparing the resumption of mining in existing mines. Based on the results of the magnetic measurement that the company performed over Väsman field, an interpretation and modeling of the magnetic cells down to 300 meters has been made. This led to that a total of 47 magnetic bodies provisionally corresponding to volumes between 55 000 and 18 500 000 m3. In total, the magnetic mineralization has an estimated tonnage of 600-650 million tonnes. The iron content varies from 19-47 percent, which represents a weighted average grade of 29 percent. The mineralizations are currently classified as "exploration targets" according to the JORC standard, and have the potential to...