VANCOUVER,
Jan. 9, 2012 /PRNewswire/ -
Northern Iron Corp. (TSX-V: NFE) ("Northern
Iron") (OTCQX: NHRIF) (Frankfurt: N8I) today
announced the continuation of its drill program on its Karas
property in the Red Lake mining
division, district of Kenora, Ontario,
Canada.
The 2012 drill program will begin on January 11th with 2 drill rigs in
place. During the latter part of 2011, Northern Iron
completed 26 holes on the Karas property; results have been
released on 18 of the drill holes to date. It has been necessary to
extend the drill program into 2012, as the management team has
taken a decision to drill additional holes between 600 and 700
metres in length to determine the true thickness and down dip
extension of the magnetite mineralized area on the Karas
property.
"The benefits of working in the Red
Lake area give us the ability to operate all year round when
most other fly-in drill programs have been shut down due to
logistics. We have only shut down for 3 weeks over the holiday
period to give our crews a much needed break. Most of the other
Canadian iron ore projects shut down their drill programs at the
onset of winter and only commence their programs when the warmer
weather returns." said Basil Botha,
President and CEO of Northern Iron.
These results will assist the team and Roscoe Postle Associates
in better delineating the mineralized area towards a measured and
indicated NI 43-101 compliant mineral resource estimate.
About Northern Iron Corp.
Northern Iron is a mineral resource company engaged in reviving
a past producing iron mine and concurrent exploration of high
quality iron ore resources in the Red
Lake mining division, district of Kenora, Ontario, Canada.
Northern Iron holds 100% interest in minerals claims covering
approximately 14,672 hectares, comprised of the El Sol Property,
the past producing Griffith Property, the Karas Property, the
Papaonga Property and the Whitemud-Slate Property.
The Griffith Mine owned at the time by Stelco, produced 78.8
million tonnes of iron ore for conversion to pellets and DRI from
1968-1989. Total magnetic iron recovery was 86.26%.
The Red Lake area is
accessible year round by Highway 105, which joins the Trans Canada
highway at Vermillion Bay, 175 km south and 100 km east of
Kenora. Commercial air services
operate to Red Lake from
Thunder Bay, Ontario and
Winnipeg, Manitoba.
Cautionary Statement
The foregoing information may contain forward-looking statements
relating to the future performance of the Company. Forward-looking
statements, specifically those concerning future performance, are
subject to certain risks and uncertainties, and actual results may
differ materially from the Company's plans and expectations. These
plans, expectations, risks and uncertainties are detailed herein
and from time to time in the filings made by the Company with the
TSX Venture Exchange and securities regulators. The Company
does not assume any obligation to update or revise its
forward-looking statements, whether as a result of new information,
future events or otherwise.
Neither the TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. No stock exchange,
securities commission or other regulatory authority has approved of
disapproved the information contained herein.
SOURCE Northern Iron Corp.