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IRON Ore Potential In GREENLAND - GEUS

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<strong>IRON</strong> ORE POTENTIAL IN G REENLAND<br />

GEOLOGY AND ORE 19 / 2011<br />

Close-up of the BIF sequence south of Pituffik, North-West Greenland. A chip sample over 1.4 m<br />

returned 29.1% Fe (27.2% Fe 2<br />

O 3<br />

+ 15.5% FeO) and 54.3% SiO 2<br />

.<br />

Drilling through the <strong>In</strong>land Ice near the Isua deposit, southern West Greenland. Photo: Claus Østergaard.<br />

activity in 1962. Since that time an iron<br />

resource of around 2 billion tonnes of ore<br />

averaging 32.9% Fe has been estimated.<br />

A large number of drill holes were made,<br />

some of them through the inland ice.<br />

Twenty years later, Rio Tinto took up a<br />

concession and carried out two drilling<br />

campaigns. Rio Tinto aimed at finding<br />

high-grade hematite lump ore, but was<br />

not satisfied with the results. <strong>In</strong> January<br />

2006, IMC Group Consultants Ltd (IMC)<br />

estimated JORC indicated-inferred<br />

resources of 955 million tonnes averaging<br />

34% Fe, including an indicated-inferred<br />

open pit resource of 181 million tonnes<br />

averaging 33.43% Fe, and accordingly<br />

London Mining Plc. took over the concession<br />

of the area.<br />

London Mining Plc. has obtained similar<br />

figures with 951 million tonnes averaging<br />

36.48% Fe. According to London Mining<br />

Plc. recent test work has confirmed that<br />

the Isua ore can produce a concentrate<br />

with a specification of 70.2% Fe, 1.9%<br />

4

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