ISUA Greenland

ISUA Geology & Resource
Ore Body
Over 1.5Billion Tons Target Magnetite and Hematite Resource
ISUA Banded Iron
Formation (BIF)

▶ Alternating bands of fine-grained
magnetite and chert;
▶ Dolerite dykes present creating some
internal dilution;
▶ Hanging wall typically absent; locally
lower-grade BIF;
▶ Footwall of mafic metavolcanics.
Structural Geology
▶ Single coherent ore body;
▶ BIF strike length over 2Km, open;
▶ 180-450m thick, thickness continues
to increase down dip;
▶ Dips 45-65 degrees to East;
▶ Some internal folding
▶ Fault displacements not significant.
▶ Resource Estimate by category above a
cut-off grade of 20%Fe and based on
drilling results up to 2010;
▶ Updated Resource to be obtained by end
of 2011 based on further Exploration
Drilling (7656m) completed in 2011 to
convert inferred into indicated resource.
▶ Recent drilling completed in 2011 strongly
suggests that the hematite ore
intersected in the 1990’s is the down dipenriched
extension of the magnetite ore,
thus expanding of the overall resource to
1.5 Billion tons magnetite plus hematite.
Note: Based on Drilling results up to 2010.
5
ISUA Resource Drilling Program completed
in 2011
▶ For the drilling season 2011, a
major Resource drilling program
was completed at the ISUA ore
body with 7656 m drilled and 18
holes for converting further
resource from inferred to
indicated;
▶ Core samples are currently being
processed at Lakefield SGS
laboratory in Canada for Head
Assays and Davis Tube testing;
results will be used to update the
indicated JORC resource by the
end of 2011;
▶ Summary of the Resource drilling
is presented in page 6 and 7;
▶ A key realization made during the
2011 Resource drilling is that the
ore body dips less steeply than
originally modeled, and thus
appears to connect directly to the
hematite BIF drilled further east
under the ice by RTZ in the
1990s. The magnetite enriches to
hematite eastward and down dip.
In addition, the body is thicker
under the ice than where it is
exposed on surface.
This new understanding should
result in a greatly increased
resource with higher-grade and
more easily processed iron ore at
depth.