High Grade Mineralization Highlights new developments for the Four Corners Project
Private resource company Four Corners Mining Corp’s (FCMC) exploration strategy to focus its 2013 surface exploration on the 4 drill untested MAG anomalies is delivering highly positive results at the large Four Corners Iron Ore – Titanium – Vanadium Project in southwestern Newfoundland, strategically located along the paved Burgeo Highway and within 35 highway kilometres of the ice free, deep water Harmon Port Complex at Stephenville.
High grade mineralization with iron ore up to 57.66% Fe2O3 (T), titanium oxide (TiO2) up to 13.49% and vanadium pentoxide (V2O5) up to 0.322% highlights grab samples from outcrop and sub-outcrop at the large Four Corners MAG Anomaly (FCMA) and represent the highest assay values to date at the FCMA where surface mineralization was first discovered in late 2011 (ref. Press Release February 3, 2012). This MAG anomaly is the largest of the 5 MAG anomalies detected during a 2011 Airborne ElectroMagnetic survey that showed the targets extend along a 20 km corridor to within 6 kms of the coast line of Bay St. George, the site of the Harmon Port.
At Keating Hill East, the only 1 of the 5 MAG anomalies drill tested to date, 4,000 metres of drilling has intersected a large zone of titanium – vanadium enriched magnetite (iron ore) that can be traced for several kilometres and having implications for a large bulk tonnage resource.
Geological mapping and prospecting will continue throughout the summer to direct a planned fall drilling program which will test the new zones of surface mineralization being uncovered at the drill untested MAG anomalies. FCMC has applied for a drilling grant under the Junior Exploration Assistance Program administered by the Newfoundland & Labrador Department of Natural Resources and acknowledges the support of earlier grants awarded for this highly regarded project.
The stream of positive results achieved at the FCP since exploration began in late 2009 is attracting international interest and the company is pleased to report that by invitation it is attending the Indian Metals & Minerals Investor Initiative meetings being held in Mumbai on Friday, July 5.
Adding to the attractiveness to the Four Corners Project is its location along a paved highway and close proximity to an ice free deep water port which positions the project in a highly favorable setting compared to many worldwide mineral resources. The company notes this highly strategic location and the potential for a large bulk tonnage, mineral resource together with predictions that iron ore prices will rise in 2013 due to increased steel production bodes well for advancing the project.
The technical information in this news release was reviewed by Vic French, P. Geo., President, and a qualified person as defined by National Instrument 43-101.