West Melville Metals Inc. (TSX VENTURE:WMM) ("West Melville" or the "Company") today announced an initial National Instrument (NI) 43-101 resource estimate for the Isortoq Iron-Titanium-Vanadium Project located in southern Greenland. The Inferred Mineral Resource Estimate for the Isortoq Project describes 70.3 million tonnes grading 29.6% total iron (Fe), 10.9% titanium oxide (TiO2) and 0.144% vanadium pentoxide (V2O5) applying a 15% iron cutoff.
"Achieving an initial inferred resource in our first drill program on the project speaks volumes to the consistency of the mineralization at Isortoq and demonstrates scope to rapidly grow the resource by applying a similar systematic approach to evaluation drilling in 2013," stated Dr. Rory Moore, President and CEO of West Melville Metals. "Moreover, it is significant to note that this initial resource represents drilling on less than one kilometre of the Isortoq body while evidence from previous drilling and the 2012 ground magnetic survey has demonstrated a strike length exceeding 16.3 kilometres."
2012 Program Highlights:
West Melville contracted APEX Geoscience Ltd. (APEX) in the spring of 2012 to provide geological services and supervision of an 11 hole, 2,671 metre core drill program at the Isortoq prospect and subsequently retained APEX to complete the NI 43-101 resource estimate. The estimated mineral resource is calculated in accordance with CIM Standards on Mineral Resources and Reserves (CIM Guidelines) as set out in NI 43-101. A sensitivity analysis of the grade and tonnage relationships, based upon total iron cut-off values, is summarized in the table below. The Isortoq mineralization shows good lateral consistency along strike, which is further supported by detailed ground geophysical surveys and geological mapping.
Mineral Resource Estimate Criteria
The Initial Mineral Resource Estimate for the Isortoq Project was prepared by Andrew Turner, P.Geol. and Steven Nicholls, MAIG, both with APEX Geoscience Ltd. The inferred resource is based upon the results of an 11 hole (2,671 m) core drilling program that was completed by WMM in the spring of 2012. The program was conducted under the direct supervision of Mr. Turner of APEX. All samples were shipped for analysis to an accredited laboratory in Canada. The samples underwent standard preparation techniques and were analyzed by ICP, XRF and S-Leco techniques. A comprehensive QA/QC protocol with respect to all analytical and non-analytical data was implemented. For the analytical procedures, this included the insertion and monitoring of standard, blank and duplicate samples into the stream of regular drill core samples. No issues were noted with respect to sample security or analysis.
The resource model was generated using all 11 diamond core holes, with an average drill-hole spacing of 100 m. The deposit was geologically modeled using a combination of surface information from mapping work and sub-surface information where the troctolite intrusive (rock containing Fe-Ti-V mineralization) was observed to be in sharp contact with host granitic rocks. The Isortoq deposit was modeled as a long, NNE striking, steeply (~90°) dipping dyke-like body and is limited to between 100 m and 250 m below surface, extending 950 m along strike (680m from the northernmost drill-hole to southernmost drill-hole) with widths up to 200m perpendicular to strike. The mineralized body remains open along strike in both directions.
The Isortoq drill database consists of 888 composited samples, each 2 metres in length, with no capping levels applied. The mineral resource was estimated by Ordinary Kriging ("OK") within a three dimensional wireframe envelope described above. Anisotropic search ellipsoid distances and orientations were established by variography. The search ellipsoid ranges utilized a 150 m x 40 m x 15 m primary search range. Grade estimation was applied to 20 m x 20 m x 20 m parent blocks with sub-blocking to honor wireframe volumes. Block densities (specific gravity, or "SG") were also estimated by the OK process based on 2,209 field measurements that were collected using the water displacement method on single pieces of whole core selected every metre along the 11 drill holes.
APEX is satisfied that the mineralization has reasonable prospects for economic extraction as required by the CIM Guidelines.
Isortoq Project
The 41,900 hectare Isortoq Project is a large iron-titanium-vanadium prospect in southern Greenland. Previous drilling combined with geophysical results to date has confirmed a potential strike length of at least 16.3 kilometres with the mineralized body being open to the south. The property is favourably located on a deep, ice-free ocean inlet on the temperate southern coast of Greenland within 60 km of Narsaq and 100 kilometres from Narsarsuaq International Airport. The mineralization at Isortoq is similar to the Mapochs deposit in South Africa, which has been successfully exploited for a number of decades by Evraz Highveld Steel and Vanadium and its predecessors. Bench scale beneficiation tests completed by the project vendor on previous Isortoq core samples gave average concentrate grades of 48.7% Fe (62.6% FeO); 19.1% TiO2 and 0.32% V2O5 with acceptably low levels of penalty elements S, P, Si, Al. These are positive indicators that support the future economic potential of the project. West Melville is in the process of purchasing a 100% interest in the project from Hunter Minerals Pty Ltd of Australia.
QA/QC
The inferred mineral resource estimate for the Isortoq deposit was prepared by Andrew Turner, P.Geol. and Steven Nicholls, MAIG, of APEX Geoscience Ltd., both of whom have reviewed and approved the disclosure regarding the inferred mineral resource estimate in this news release. Disclosure of a scientific or technical nature contained in this release has been reviewed and approved on behalf of the Company by Bruce Counts, P. Geo., a "Qualified Person" as defined by National Instrument 43-101. An NI 43-101 technical report in regard to the initial inferred mineral resource for the Isortoq deposit will be filed on SEDAR within 45 days of the date of this press release.
About West Melville Metals Inc.
West Melville is an iron ore and specialty metals exploration company working to advance the Fraser Bay iron ore project in Nunavut and the Isortoq iron-titanium-vanadium project in Greenland. The Company has assembled an experienced management team with a track record of discovery success and a Board of Directors with expertise covering the essential fields of geology, engineering and finance. West Melville's projects offer a combination of low geological risk with significant upside potential in high demand commodity sectors.
On behalf of the Board of Directors
Rory O. Moore, Ph.D.
President and CEO, West Melville Metals Inc.
For further information about West Melville Metals Inc. or this news release, please visit our website at www.westmelville.com.
West Melville Metals Inc. is a member of the Aurora Mineral Resource Group of companies. For more information please visitwww.auroraresource.com.
Cautionary Note Regarding Forward Looking Statements
Certain disclosures in this release, in particular regarding the economic potential of the Isortoq Project and the Company's interest therein, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to West Melville's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Other than as required by applicable securities legislation, West Melville expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
Cautionary Note to US Investors
West Melville advises U.S. investors that while the term "inferred resource" is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
