Allied American Steel Corp. (AAST) Secures Industry Veteran Erik A. Ostensoe for Senior Exploration Adviser Slot

QualityStocks would like to highlight Allied American Steel Corp (NASDAQ: AAST), an advanced exploration stage mining company focused on the discovery and production of significant iron ore resources, and the titanium dioxide resources often associated with iron deposits.

In the company’s news yesterday,

Allied American Steel reported the appointment of veteran geologist Erik A. Ostensoe to the AAST management team with the title of Senior Exploration Adviser.

Chairman and CEO of AAST, Jes Black, commented on the appointment, which follows fast on the heels of the retention of another renowned geological mind, Richard Tschauder, as the Company’s Senior Geologist, saying that it is indeed auspicious to have secured such experienced personnel as activity at the Lake Touladi Property begins to pick up steam.

Ostensoe has accumulated a vast wealth of experiential knowledge through his many years in various areas of the sector, from field and underground mapping to acreage acquisition-related due diligence, directing companies and managing multi-million dollar mineral projects, often wielding crews of up to 30 to get the job done.

Ostensoe cut his teeth in Canada at Newmont Mining Corporation, working as a venture prospector and staff geologist, going on to extend such field work over a number of years, later handling major field projects for heavy hitter Hecla Mining Company’s Canadian division as a senior geologist. Ostensoe also went on to act as chief geologist at Granduc Mines Ltd., having worked for some time with Tschauder at Hecla, which has grown to encompass roughly $2B in market capitalization, pulling 7.2M ounces of silver in 2010 alone.

Ostensoe also brings an impressive portfolio of educational achievements to the position:

• BSc. (Hons.) in Geology – University of British Columbia
• MSc. Studies in Economic Geology – Queen’s University, Kingston, Ontario (thesis pending)
• Extensive Studies in Geophysics, as well as diamond exploration, porphyry/uranium deposits and ore deposit models – BCIT
• Member – Association of Professional Engineers and Geoscientists of British Columbia
• Licensee – Northwest Territories/Nunavut Association of Professional Engineers and Geoscientists

The Company looks to bring the power of these men to bear at ongoing operations at the Lake Touladi Property in Quebec, eager to bring some of the historically estimated 124M tons of resource, grading 23.3 wt. % iron (Fe) and 6.6 wt. % titanium dioxide (TiO2). Although the Company does not take these values as current mineral resource or mineral reserves CIM-classifiable as “inferred reserves”, AAST geologists are extremely confident overall about the potential of the project and a 2,500 meter drilling program is planned, with drill mobilization slated for early next month.

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