Baffinland Iron Mines Corp (TSX:BIM) reported today on drill results from the 2008 drilling program. A total of 26 holes were reported on including cumulative 2,680 metres of 66% iron. Hole MR1-08-154 intersected a true width of more than 196 meters grading 66.5% iron. Baffinland has reported in the past that much of this is direct shipping, premium priced lump grade iron ore.
Gordon McCreary, Baffinland’s president and CEO is quoted as saying:
Deposit No. 1 is much thicker in certain areas and this has positive implications when we revise the reserves and resources estimate for Deposit No. 1.
