Datum : 31/03/2011 @ 16h13
Quelle : MarketWire Canada
Name : Advanced Explorations Inc. (AXI)
Advanced Explorations Announces Update on its Definitive Feasibility Study
Advanced Explorations Inc. (the "Company" or "AEI") (TSX
VENTURE:AXI)(FRANKFURT:AE6) is pleased to announce that it continues to move
forward with its Definitive Feasibility Study ("DFS") at its flagship Roche Bay
iron ore project located on the east coast of the Melville Peninsula in Nunavut,
Canada. The DFS is being led by Wardrop Engineering, a Tetra Tech Company, with
the resource component of the study being managed by Golder Associates.
Additional analytical and metallurgical work, along with re-evaluation of the
existing geological data in the context of the new development plan (3 million
tonnes per annum concentrate start up as press released February 17, 2011) and
processing flow sheet has been completed. Golder Associates is expected to
provide an updated NI 43-101 resource statement as early as next week with an
expected reclassification of the resource to both inferred and indicated
categories. The updated resource information is an important guide for the DFS
in-fill drill program and supportive of the advancement of the DFS.
As part of the Project's ongoing community engagement process, AEI held town
hall meetings with stakeholders in the local communities of Hall Beach and
Igloolik last week. At these well-attended meetings significant support for the
project was expressed, and AEI is committed to continue the communications
process with the communities.
John Gingerich, President and CEO, commented:
"We are very pleased with the progress made to date on our flagship asset and
the early reports being provided to the company. In addition to the work
undertaken for the DFS, the Company is collaborating with XinXing Pipes Group to
conduct additional metallurgical studies in China. The Company is pleased that
it is able to tap into the iron ore mining expertise of both the North American
and Chinese industrial sectors".
Having returned from a successful week of conferences in Hong Kong, the Company
is also pleased to announce that it will be in attendance of the TSX Venture 50
Spotlight awards presentation taking place later today at TMX Broadcast Centre
Gallery in Toronto.
ON BEHALF OF THE BOARD
John Gingerich, President & CEO
ABOUT Advanced Explorations Inc.