Advanced Explorations Inc.

Advanced Explorations Inc.

July 08, 2008 08:51 ET

Advanced Explorations Inc. Intersects 45.6 % Fe

TORONTO, ONTARIO--(Marketwire – July 8, 2008) - Advanced Explorations Inc. (TSX VENTURE:AXI.H)(NEX BOARD:AXI.H)(TSX VENTURE:AXI) (the "Company or AEI") is pleased to announce new results from Zone C1 drilling on its Roche Bay iron project in Nunavut. To date the company has completed over 5,500 metres of sampling in 2008 that includes 706 metres from previous drilling. Hole RB-07-16 has returned a 12 metre interval averaging 45.56% Fe within a broader interval of 85 metres that averaged 29.91% Fe. The high grade intersection occurs in an area that was thought to be predominantly lower grade material ((less than)26% Fe). High grade intersections such as this indicate the potential to increase the high grade zone intersected in the northern portion of C1.

The Company currently has 4 drills turning with production now close to 1500 metres in the last week. AEI has completed over 6,980 metres of drilling (32 holes) to date this year which includes a number of geotech holes drilled in support of the pre-feasibility study plant site locations. Work to date has focused on the C Zone in support of the MAN Ferrostaal study. While much of the drilling has been in-fill (delineation), AEI has extended the C Zone another 600 metres further along strike to the north. The Company has now drill tested 5000 metres of the over 6000 metres of inferred strike. A total of 25 holes are awaiting assay results.

John Gingerich, President and CEO of AEI, commented;

"We are very encouraged by the results of this year's drilling. Results
are as expected, but we are seeing the possibility of increasing the
extent of the high grade mineralization, as well as, additional zones
within the footwall. Getting turnaround of assay results remains a
challenge. However, we are working on solutions with SGS Lakefield."


John Gingerich, President & CEO

Analysis: All the recent drill core analysis reported in this release was performed by SGS Lakefield Research. At SGS samples are analyzed for total Fe using XRF techniques. SGS also undertakes Satmagan analysis to estimate the portion of magnetic iron. The company augments the laboratory QA/QC procedures by selectively adding additional control samples. Core sample intervals for 2007 were 1 metre and increased to 2 metres except where intervals cross geologic boundaries in which case the sample length is adjusted accordingly.

New Grid: The Company has redefined the exploration grid as part of the engineering studies. The line coordinates (east-west) remain the same but the line sections have been transformed to eliminate a grid south reference. All previous grid lines have been increased by 14,400 metres. (e.g. previous line 2800S now 11600N)

Summary of results

Hole Plan Line Dip Iron Iron Interval % Fe Comment
N Fm Fm (m)
(from) (to)
m m
RB-07-16 RBC07-9V 11800 -70 88.0 173 85 29.91 C1
degrees W
95.0 107.0 12 45.56 includes
173.0 268.0 95 22.66 Footwall
316.0 341.0 25 27.7 Footwall
RB-07-12 RBC07-7W 12200 -60 42.0 147.0 105 27.87
degrees W
RB-07-15V RBC07-21V 10200 -90 36.26 169.0 132.74 24.56 C1
degrees W
172.0 252.38 80.38 29.35 C1
326.35 379.52 53.17 32.67 Footwall
RB-08-40 RBC-08-40 11600 -45 49.41 217.49 168.08 26.21 C1
degrees W

Gary Williams P. Geo and VP of Advanced Explorations Inc. is the QP within the meaning of 43-101 and has reviewed and approved the content of this release.

ABOUT Advanced Explorations Inc.

AEI, based in Toronto, Canada, is exclusively focused on developing high quality iron ore opportunities. In early 2007 the Company expanded its capabilities in iron ore exploration and development with the acquisition of strategic management personnel. AEI has the management, technical and exploration expertise and experience to rapidly advance the Roche Bay magnetite project which was acquired in June, 2007, as well as develop new opportunities in the area and globally. The Roche Bay magnetite project located proximal to a natural harbour makes it potentially one of the world's premier iron ore opportunities. Shares of the company trade on the TSX Venture Exchange under the symbol AXI. For more information please visit

This news release also includes forward-looking statements that involve a number of risks and uncertainties. The information reflects numerous assumptions as to industry performance, general business and economic conditions, regulatory and legal requirements, taxes and other matters, many of which are beyond the control of the company. Similarly, this information assumes certain future business decisions that are subject to change. There can be no assurance that the results predicted here will be realized. Actual results may vary from those represented, and those variations may be material.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.


Contact Information

  • Advanced Explorations Inc.
    John Gingerich
    President & CEO
    (416) 203-0057