VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/14/13 -- West Melville Metals Inc. (TSX VENTURE: WMM) ("West Melville" or the "Company") today announced an initial National Instrument (NI) 43-101 resource estimate for the Isortoq Iron-Titanium-Vanadium Project located in southern Greenland. The Inferred Mineral Resource Estimate for the Isortoq Project describes 70.3 million tonnes grading 29.6% total iron (Fe), 10.9% titanium oxide (TiO2) and 0.144% vanadium pentoxide (V2O5) applying a 15% iron cutoff.
"Achieving an initial inferred resource in our first drill program on the project speaks volumes to the consistency of the mineralization at Isortoq and demonstrates scope to rapidly grow the resource by applying a similar systematic approach to evaluation drilling in 2013," stated Dr. Rory Moore, President and CEO of West Melville Metals. "Moreover, it is significant to note that this initial resource represents drilling on less than one kilometre of the Isortoq body while evidence from previous drilling and the 2012 ground magnetic survey has demonstrated a strike length exceeding 16.3 kilometres."
2012 Program Highlights:
-- Evaluation drilling completed on a section that represents a small component of the overall size potential of the Isortoq body has defined an initial inferred resource of 70.3 Mt grading 29.6% Fe, 10.9% TiO2 & 0.144% V2O3.-- A ground magnetic survey that expanded the strike length of the main Isortoq trend to 16.3 kilometres and identified the potential for multiple, parallel or en-echelon mineralized bodies running parallel to the main body.-- Secured a new exploration license (109 km2) covering the potential extension of the mineralization to the south.
West Melville contracted APEX Geoscience Ltd. (APEX) in the spring of 2012 to provide geological services and supervision of an 11 hole, 2,671 metre core drill program at the Isortoq prospect and subsequently retained APEX to complete the NI 43-101 resource estimate. The estimated mineral resource is calculated in accordance with CIM Standards on Mineral Resources and Reserves (CIM Guidelines) as set out in NI 43-101. A sensitivity analysis of the grade and tonnage relationships, based upon total iron cut-off values, is summarized in the table below. The Isortoq mineralization shows good lateral consistency along strike, which is further supported by detailed ground geophysical surveys and geological mapping.
Sensitivity Analysis of the 2013 Isortoq Fe-Ti-V Inferred Mineral Resource Estimate
----------------------------------------------------------------------------Lower Cut-Off % Tonnes Density Fe (Total) (000,000) Total Fe (%) TiO2(%) V2O5(%) (t/m3)----------------------------------------------------------------------------10 71.61 29.3 10.8 0.142 3.55----------------------------------------------------------------------------15 70.31 29.6 10.9 0.144 3.56----------------------------------------------------------------------------20 66.25 30.3 11.2 0.148 3.57----------------------------------------------------------------------------25 55.74 31.7 11.7 0.157 3.60----------------------------------------------------------------------------30 38.67 33.4 12.4 0.170 3.66----------------------------------------------------------------------------Notes:(i) Inferred Mineral Resources are not Mineral Reserves. Inferred MineralResources do not have demonstrated economic viability, and may never beconverted into Reserves. The effective date of the Inferred ResourceEstimate is January 11, 2013.(ii) "Total Fe" was calculated by the conversion of Fe2O3 to Fe (multiply by0.6994).(iii) Values have been rounded.
