Ferrum Americas Mining Inc announced that drilling on the company's Cerro Rojo iron ore project in Bolivia has returned the highest grading results to date.
Diamond drill hole CR12-16 intersected 94.4 meter grading 52.1% Fe including a higher grading interval of 36 meter grading 56.4% Fe. Hole CR12-17, located 200 meter west of Hole CR12-16 along strike, intersected 59.3 meter grading 52.4% Fe. Both holes intersected banded iron ore mineralization from surface.
FEM rose nearly 3% to USD 0.175, moving further away from year low 10%. Volume traded is about 10,000.
Source:
http://www.steelguru.com/raw_material_news/Ferrum_Americas_Mining_encounters_iron_at_Cerro_Rojo/294927.html
