A Focus on Resource Development

Established in 2007, Ironstone Resources Ltd., a private corporation, has over 150 shareholders sharing a common vision of strategic resource asset acquisition and development. The company currently has over 500,000 acres of poly-metallic properties in Alberta and Ontario at various phases of development.

Ironstone is currently in active development of its world-class Clear Hills iron and vanadium deposit, with a focused program featuring drilling and resource assessment, custom iron reduction process development, and vanadium extraction optimization.

Ironstone’s maiden National Instrument 43-101 report was completed by SRK Consulting in October 2010, and has assigned an indicated resource of 140 Mt grading 33% Fe and 0.21V₂O₅ and 63Mt of inferred mineral resource grading 34% Fe to the Rambling Creek block on the Clear Hills property. The Rambling Creek block represents approximately 20% of the historical resource estimates in the Clear Hills.

During February and March 2011, the Company carried out a second drill program focused on extending the known ironstone deposit south of the Rambling Creek permit on to the North Whitemud River project area. Ironstone drilled a total of 148 holes and recovered 12,086m of core. Drill hole locations were set up at a nominal 400m spacing with some holes drilled at a 250m spacing to better define grade continuity within the ironstone.

SRK Consultants (Canada) Inc. combined the Rambling Creek resource with the North Whitemud River resource in a revised NI 43-101 report in November 2011. Ironstone’s total compliant iron resource in the Clear Hills is now 643.4Mt (556.5Mt indicated Fe at 33.3%, 86.9Mt inferred Fe at 34.1%, 2.45 billion pounds of indicated V₂O₅ at 0.20%). 

Concurrent to the winter drilling in 2011, Ironstone developed a bulk sample pit on its Rambling Creek block and has extracted and stockpiled 11,000 tonnes ore near Hines Creek for use in process verification tests in several pilot plants through to the end of 2011.

Ironstone is building upon the direct reduced iron process development work conducted by the Alberta Research Council and CANMET to beneficiate the Clear Hills iron into merchantable HBI/DRI and V2O5 for sales to steel producers across the globe.

Trenching the exposed iron ore at the southwestern extent of Ironstone’s Clear Hills Properties