Advanced Explorations Inc. (TSXV:AXI,FWB:AE6) announced it has completed an exploration program to further evaluate the direct ship ore potential within the area of the Tuktu iron deposit.
As quoted in the press release:
The exploration program, which commenced late August and was completed this week, was comprised of detailed surface geological mapping and prospecting, closely spaced infill ground magnetometer and gravity geophysical surveying and completion of 1,536m of diamond drilling in 11 drill holes.
In July 2012, the Company completed a limited prospecting and sampling program of a 2,100m long magnetic anomaly, the Tuktu 2-A Anomaly, where high grade samples assaying 63.85% Fe and 62.26 % Fe were previously located in 2011. Abundant specular hematite, a form of iron oxide not previously seen on the Tuktu Iron Project, located in outcrop, returned grab samples up to 69.30% Fe and channel sampling included an average of 63.24% Fe over a length of 7.9m.