Advanced Explorations Inc.

Advanced Explorations Inc.

January 06, 2009 08:48 ET

Advanced Explorations Inc. Intersects 66 Metres of 31.7% Iron

TORONTO, ONTARIO--(Marketwire - Jan. 6, 2009) - Advanced Explorations Inc. (the "Company or AEI") is pleased to announce the latest assay results from the 2008 drilling campaign on its Roche Bay iron ore project in Nunavut, Canada. Drill-hole RBC-08-92 collared on section 12000N, intersected 66.0 metres averaging 31.74% iron within a broader zone of 233.1 metres averaging 26.61% iron. Results continue to confirm a higher grade core within a broader zone of lower grade banded iron formation.

Results from drilling 1200 metres to the south are consistent with previous results. Drill-hole RBC-08-78, collared on section 10800N, intersected 149.7 metres of 24.50% iron including an interval of 85.4 metres of 26.98% iron. In addition, drill-hole RBC-08-79, drilled on section 10600N, intersected 137.6 metres of 25.98% iron, including an interval of 28.0 metres of 31.67% iron.

John Gingerich, President and CEO commented:

"The assays seen here continue to provide encouragement and indicate a higher grade magnetite core within the broader mineralized banded iron formation over a 4 kilometre strike length. We believe we are within a few weeks of getting the last of the assays from SGS Lakefield. Once that process is complete we will be able to finish creating our resource model and the NI 43-101 report."


John Gingerich, President and CEO

Please see the table below for current drilling details.

Hole Line Coordinate Dip Azimuth From To Interval % Fe
Number (N) (E) (m) (m) (m)
RBC-08-78 10800 925 -45 305 44.4 194.1 149.7 24.50
(*) (*) including (*) (*) 44.4 129.8 85.4 26.98
RBC-08-79 10600 900 -45 305 24.4 162.0 137.6 25.98
(*) (*) including (*) (*) 56.0 84.0 28.0 31.67
RBC-08-85 9800 800 -60 305 96.6 278.6 182.0 22.32
(*) (*) including (*) (*) 148.0 178.0 30.0 27.50
RBC-08-92 12000 900 -50 305 42.0 275.1 233.1 26.61
(*) (*) including (*) (*) 46.0 112.0 66.0 31.74

Note: Results for drill-hole RBC-08-78 are now complete; partial results

were previously reported on Nov 24, 2008

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.

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.

ABOUT Advanced Explorations Inc.

Advanced Explorations Inc., based in Toronto, Ontario, is a mining exploration company exclusively focused on developing high quality iron ore opportunities. In early 2007, AEI acquired the option to earn an interest in the Roche Bay Magnetite Project located on the Melville Peninsula in Nunavut, Canada. Led by an experienced management team with technical, exploration and mining expertise the company has the capabilities to rapidly advance the Roche Bay Project and explore other local and global opportunities. Located proximal to a natural deep water harbour the Roche Bay deposit benefits from transportation efficiencies possibly making it one of the world's premium iron ore prospects. Shares of the company trade at the TSX Venture Exchange (AXI) and at the Frankfurt Stock Exchange (AE6). 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.
    (416) 203-0057 x226