Nevada Iron Ltd
ASX : NVI
TSX : NVR

Nevada Iron Ltd

July 30, 2014 08:01 ET

Nevada Iron Files Quarterly Report for Period Ending 30 June 2014

PERTH, WESTERN AUSTRALIA--(Marketwired - July 30, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

Nevada Iron Ltd (the Company) (ASX:NVI) (TSX:NVR) is pleased to provide the following quarterly report for the period ending 30 June 2014.

HIGHLIGHTS

  • Non-binding term sheet signed with a large US based group for the design, funding, construction and operation of logistical elements of the Buena Vista Iron Project
  • Samuels Engineering completes design of process plant to sufficient level to support remaining permit applications
  • Search process for US based CFO commenced as project debt and funding activities ramp up
  • Drilling at Section 27 prospect returns further broad, at surface iron mineralisation including:
    • 33.5 metres grading 20.1% Total Fe in hole 2714-002
    • 76 metres grading 22 % Total Fe in hole 2714 -003, including 9.7m grading 52.1% Total Fe
    • 30.4 metres grading 21.9% Total Fe in hole 2714-004
    • 80.8 metres grading 23.4% Total Fe in hole 2714-006, including 6.5m grading 51.8% Total Fe and 3.2m grading 60% Total Fe
    • 73.1 metres grading 20.0% Total Fe in hole 2714-009

Overview

Nevada Iron Ltd (ASX:NVI) (TSX:NVR) is a resource company focused on the development of the Buena Vista Iron Project located in northern Nevada, USA. This project demonstrates the attributes for a successful iron ore development, namely:

  • Near surface resource
  • Very low waste to ore ratio (<0.5:1)
  • Easy metallurgy with a coarse grind producing a high grade (67.5-69% Fe) clean concentrate
  • Close to existing nearby transport infrastructure and no requirement to build significant infrastructure, eg a rail line
  • Access to multiple existing ports
  • Manageable capital cost
  • Stable and mining friendly jurisdiction
  • No government royalty imposts
  • Phase 1 project on private land, making permitting less onerous

To view the full announcement please click the link below: http://www.nv-iron.com/2011-08-15-01-49-08/asx-releases

ABN 98 123 423 987

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