Ferrum Americas Mining Reports Mineral Resource Estimate for Cerro Rojo Iron Ore Project; Shares Up 13%

By Midnight Trader,  January 15, 2013, 11:18:10 AM EDT

Ferrum Americas Mining Inc., (FEM.V) today announced the results of the maiden independent National Instrument 43-101 Mineral Resource estimate for the Company's Cerro Rojo iron ore project in eastern Bolivia.

The In-Pit Mineral Resource Estimate, prepared by P&E Mining Consultants Inc., includes Indicated resources of 111.0 million tonnes at 48.1% Fe and Inferred resources of 175.9 million tonnes at 48.8% Fe utilizing a 15% iron cut-off grade.

At a cut-off grade of 50% Fe, In-Pit Indicated resources are 31.2 million tonnes at 51.5% Fe and Inferred resources are 63.0 million tonnes at 52.0% Fe.

Shares are up 2 cents (13.33%) to 17 cents late morning. Volume traded is 10,000.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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