BKIRF - NetworkNewsBreaks - Black Iron Inc. (TSX: BKI) (OTC: BKIRF) (GR: BIN) Poised for Significant Growth as Shymanivske Project Progresses
Canadian iron ore exploration and development company Black Iron’s (TSX: BKI) (OTC: BKIRF) (GR: BIN) primary focus is on the advancement of its Shymanivske iron ore project located in the historically rich Kryvyi Rih region of Ukraine. Construction at the Shymanivske iron ore mine is anticipated to commence within the next year. An article discussing the company reads, “Recently, Black Iron closed the second and final tranche of its earlier announced nonbrokered private placement of units (http://nnw.fm/Ltwy4). The company intends to use the net proceeds of the offering to secure essential land surface rights and further discussions on construction financing, as well as for general working capital purposes. . . . Black Iron offers investors an intriguing investment opportunity. The company’s mining permit at Shymanivske encompasses 2.56 square kilometers and is valid until 2024. Moreover, the permit is renewable in 20-year increments. With construction at the Shymanivske iron ore mine set to begin in the coming year, Black Iron is on course for major growth.”
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About Black Iron Inc.
Black Iron is an iron ore exploration and development company, advancing its 100%-owned Shymanivske Project located in Kryviy Rih, Ukraine. The Shymanivske Project contains a NI 43-101 compliant resource estimated to be 646 Mt Measured and Indicated mineral resources, consisting of 355 Mt Measured mineral resources grading 31.6% total iron and 18.8% magnetic iron, and Indicated mineral resources of 290 Mt grading 31.1% total iron and 17.9% magnetic iron, using a cut-off grade of 10% magnetic iron. Additionally, the Shymanivske Project contains 188 Mt of Inferred mineral resources grading 30.1% total iron and 18.4% magnetic iron. Full mineral resource details can be found in the NI 43-101-compliant technical report entitled “Preliminary Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit” effective November 21, 2017, under the company’s profile on SEDAR. The Shymanivske Project is surrounded by five other operating mines, including ArcelorMittal’s iron ore complex. For more information, visit the company’s website at www.BlackIron.com.
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