A New Player in the Labrador Trough

CIM Montreal 2011
Matt Simpson,
Abstract Alderon Resource Corp. (ADV:TSX.V | ALDFF:OTCQX) is developing a near term iron ore project within the Labrador Trough. The Kami Property is located next to the mining towns of Wabush and Labrador City in Western Labrador, Canada and is surrounded by four producing iron ore mines including Rio Tinto’s Carol Lake, Consolidated Thompson’s Bloom Lake, Cliffs’ Scully Mine and ArcelorMittal’s Mont Wright. The project is also within a few km of all required infrastructure including a common carrier railway that will take the concentrate to a year round, deep sea port on the St. Lawrence Seaway. In 2010, the company completed 25,749m of drilling on the Kami project which resulted in an initial NI 43-101 Mineral Resource estimate of 490 million tonnes indicated at 30.0% iron and an additional inferred resource of 118 million tonnes at 30.3% iron. A total of 30,000m of drilling will be completed in 2011 with the goal of upgrading and significantly increasing the current resource. Alderon also plans to carry out further metallurgical test work as well as complete a Scoping Study. It is uncertain if further exploration will increase the mineral resource. Alderon’s management team is made up of previous Consolidated Thompson and IOC executives who have the necessary knowledge and experience to take Kami to production.
Keywords: New development, Labrador Trough, Alderon Resource Corp.
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