BKIRF - NetworkNewsBreaks - Black Iron Inc. (TSX: BKI) (OTC: BKIRF) (GR: BIN) Anticipates Strong Economic Return from Shymanivske Project
Canadian iron ore exploration and development company Black Iron (TSX: BKI) (OTC: BKIRF) (GR: BIN) anticipates commencing construction at its 100%-owned Shymanivske project by the end of 2019. An article discussing the company reads, “Upon its launch, Shymanivske is expected to produce ultra-high-grade 68% iron ore concentrate at a very low cost. The use of such ultra-high-grade iron ore in the production of steel generates an array of benefits, such as increased blast furnace productivity and reduced greenhouse emissions. . . . Because of this fact, as well as the climbing price of iron, Black Iron anticipates a strong economic return from the Shymanivske project. This return further reinforces the unique investment opportunity that the project offers due to the fact that it’s located in a region with well-established infrastructure. Most of the iron ore developments across the world necessitate the construction of high-cost rail, power lines and even ports.”
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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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