Advanced Explorations Inc announced that encouraging results from the recently completed 2012 drill campaign at its Tuktu 2 Iron Project located 60 km north of the Roche Bay Iron Project on the Melville Peninsula in Nunavut, Canada.
This drill program was launched to validate the existence of very high grade iron mineralization typical of deposits containing Direct Ship Ore type material.
As presented in the summary table, the drill results indicate a consistent existence of DSO material in drill core over several intersections and the Company believes that an intensive follow-up drill program of approximately 5,000 meter is required along with metallurgical studies to define a DSO resource that would support more advanced studies as to the potential of an economic DSO mining operation at Tuktu.
Mr John Gingerich President & CEO of Advanced Explorations Inc said that "We are very encouraged by the results of this validation drill program as the assays clearly indicate the consistent presence of very high grade iron within the Tuktu 2 deposit. After the sampling program, this drilling confirms the existence of DSO type material at Tuktu 2, which bodes well for discovering similar lenses not only at the overall Tuktu Project but also along the 140 kilometer of banded iron formation extending across Roche Bay.”
Mr Gingerich said that “A narrow intersection of 63% iron reported from the 2007 drill campaign at Roche Bay has a more significant meaning now given our enhanced understanding of the area's DSO potential. While development on Roche Bay will focus on the traditional BIF asset, work will be needed to fully assess the DSO potential of the C-Zone area."
The Company's 2012 exploration program at the Tuktu 2 Project, which commenced late August and was completed mid October was comprised of surface sampling and prospecting, ground magnetometer and gravity surveys and 1,536 meter of diamond drilling in 11 drill holes, 4 holes (12TK001-004, 413 meter) at the T2 A Prospect and seven holes (12TK005-011, 1,123 meter) at the T2 H Prospect.
The most significant drill results were obtained from the Tuktu 2-H occurrence that was discovered during this summer's prospecting and mapping program. High grade pods of iron mineralization occur within an alteration zone ranging from 50 meter to 150 meter in width.
From mapping and geophysics, the inferred strike length of the BIF which hosts the mineralization is approximately 1,500 meter. Orientation drilling tested only 300 meter of the apparent strike. All holes intersected high grade sections of +50% Fe with the best intersections in hole 12TK007 with approximately 59% iron content over 64 meter and hole 12TK007 with over 37.5 meter of 66.3% iron.
Significant Drill Intersections - TUKTU 2-H Zone
September-October 2012
| Drillhole | From (m) | To (m) | Interval (m) | Change Fe2O3 | change Fe |
| 12TK005 | 2.18 | 127.06 | 124.88 | 56.52 | 45.29 |
| including | 90.05 | 127.06 | 36.56 | 80.52 | 56.31 |
| including | 101.84 | 127.06 | 25.22 | 96.49 | 67.49 |
| 12TK006 | 56 | 147.5 | 91.5 | 39.96 | 27.95 |
| including | 141.5 | 144.5 | 3 | 86.65 | 60.6 |
| 12TK007 | 3.41 | 209.66 | 206.25 | 56.87 | 39.78 |
| including | 146 | 209.66 | 63.88 | 84.12 | 58.84 |
| including | 146 | 189.5 | 43.5 | 89.42 | 62.54 |
| including | 147.5 | 185 | 37.5 | 94.78 | 66.29 |
| And | 195.5 | 209.66 | 14.16 | 94.94 | 66.4 |
| 12TK008 | 15 | 269.33 | 254.33 | 49.33 | 34.5 |
| including | 153 | 207 | 54 | 74.21 | 51.9 |
| including | 153 | 165 | 12 | 88.04 | 61.57 |
| And | 172.5 | 180 | 7.5 | 94.09 | 65.81 |
| And | 193.5 | 207 | 13.5 | 87.83 | 61.43 |
| 12TK009 | 62 | 71 | 9 | 84.52 | 59.11 |
| 12TK010 | 43.5 | 85.5 | 42 | 70.66 | 49.42 |
| including | 46.5 | 60 | 13.5 | 86.49 | 60.49 |
| And | 66 | 72 | 6 | 97.71 | 68.33 |
| 12TK011 | 5 | 35 | 30,00 | 72.12 | 50.44 |
| including | 18.5 | 26 | 7.5 | 86.37 | 60.41 |
| 53 | 56 | 3 | 78.94 | 55.21 |
Mineralized intersections are down hole intersection widths and may not be true thicknesses; hole locations were non-optimal due to proximity and location of nearby lakes.
Delineation of shallow high grade iron resources within the zone will require tighter drill spacing than used on traditional BIF program, but average depth of the holes will be substantially lower. The Company anticipates initiation of the delineation drill program in the spring of next year.
Tuktu 2-A (T2-A) Results:
Drilling along the original prospect, Tuktu 2-A intersected similar style mineralization but within a narrower zone of alteration and similarly narrower lenses of high grade iron. Holes drilled immediately beneath the high grade channel samples collected over the summer of 2012 intersected shallow zones of east dipping mineralization associated with specular schist characterized by fine to medium grained specular hematite.
All holes intersected high grade sections of +50% Fe with the best intersection in hole 12TK002 with 10.51 meter of 65.6% iron content.
The high grade lenses associated with this style of mineralization typically pinch and swell along strike. The mineralization is open along strike to the east and southeast and the Company believes there is still substantial potential for the discovery of additional high grade iron along the 1.6 kilometer magnetic anomaly which hosts the T2-A Prospect.
Another showing 1.6 kilometer south of T2-A has yet to be drilled where a 62.26% Fe surface grab sample was found at the T2-E Prospect. T2-E may prove to be the strike extension of the T2-A zone as suggested by the geophysics and limited geologic exposures. A definition drill program would also further investigate this prospect.
Significant Drill Intersections - TUKTU 2-A Zone
September-October 2012
| Drillhole | From (m) | To (m) | Interval (m) | Change Fe2O3 | Change Fe |
| 12TK001 | 10 | 20.11 | 10.11 | 96.37 | 67.4 |
| 12TK002 | 9 | 71.7 | 62.7 | 57.63 | 40.31 |
| including | 10.23 | 20.74 | 10.51 | 93.79 | 65.6 |
| And | 45.69 | 59 | 13.31 | 81.26 | 56.83 |
| including | 45.69 | 47.89 | 2.2 | 98.48 | 68.88 |
| 12TK003 | 6.5 | 9.5 | 3 | 84.73 | 59.26 |
| including | 29 | 45.5 | 16.5 | 76.46 | 53.48 |
| And | 33.5 | 39.5 | 6 | 90.68 | 63.42 |
| 12TK004 | 15.4 | 89.15 | 73.75 | 54.66 | 38.23 |
| including | 72 | 88 | 16 | 77.49 | 54.2 |
| including | 73.5 | 79.5 | 6 | 86.22 | 60.3 |
Mineralized intersections are down hole intersection widths and may not be true thicknesses.
The work referred to in this press release was performed under the supervision of Mr Andrew Turner, Mr P Geol of APEX Geoscience Ltd, who has also compiled and tabulated drill assay results contained herein. Mr Turner is a Qualified Person as defined by National Instrument 43 to 101 and has reviewed and verified the results described in this press release.
Assay results described herein have been derived from samples of NQ sized drill core prepared on site where it was sawn in half using a rock saw with 1/2 of the core removed for sampling, normally in 1.5 meter lengths and the other half remaining on site. Samples were sent by helicopter to a sample preparation facility in Hall Beach, Nunavut, where they were crushed and homogenized and a 250g sub sample was collected and shipped by commercial airfreight for laboratory analysis in Ancaster, Ontario; both facilities are operated by Activation Laboratories Inc who are responsible for sample security from their arrival in Hall Beach.
The total iron analyses discussed herein were performed using X ray fluorescence. Advanced Explorations Inc. employs a rigorous Quality Assurance/Quality Control program with respect to all drill core sampling, which includes the insertion into the sample stream of standards, blanks and duplicate samples.
The 2012 QAQC data was examined by Mr Turner and no significant issues were identified with respect to the overall accuracy and precision of the data described herein.
