Northern Iron Corporation has retained a consultant to prepare a resource estimate of an iron property in northwestern Ontario.
The Vancouver exploration junior announced March 24 that it has retained RPA Inc. to prepare an initial mineral resource estimate and supporting NI-43-101 technical report on its Karas project near Red Lake.
Northern Iron owns five iron (magnetite) properties in the Red Lake district including the past producing Griffith mine and the prospective Karas property.
The company’s business plan calls for some value-added manufacturing to the potential mine project with the production of hot briquetted iron (HBI), a form of direct reduced iron used in the steel making process.
“The Karas property is approximately thirteen kilometers east of the past producing Griffith Mine and is considered an excellent supplemental supply source to the project moving forward,” said Basil Botha, company president-CEO in a news release. “The combination of the Griffith and Karas projects provides an adequate feedstock to ultimately produce hot briquetted iron for the North American steel market.”
The Griffith mine was once owned by Stelco and operated between 1968 and 1986, supplying iron ore pellets and sponge iron to the Hamilton and Nanticoke steel works.
