Northland Resources Inc.

Published : January 14th, 2008

Cuts 43% Iron over 53m at Salmivaara, Sweden

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Keywords :   1971 | Canada | Copper | Debt | Diamond | Europe | Finland | Gold | Iron | Lead | Sulphur | Sweden |

Re:        News Releases - Monday, January 14, 2008
Title:     Northland Cuts 43% Iron over 53m at Salmivaara, Sweden

Vancouver, January 14, 2008: Northland Resources Inc. is pleased to announce encouraging drill results from 6 Diamond core holes completed at the Company's 100% owned Salmivaara iron-copper project, located approximately 33km northeast of the city of Gällivare in Nortbotten county, Sweden. All holes returned multiple intersections of magnetite, with downhole thickness of up to nearly 150m locally.

The near-surface Salmivaara magnetite body is within 1km of a sealed road and approximately 33km from a rail line that carries iron ore trains from Europe's second largest iron ore mine, Malmberget, which is operated by the Swedish state-owned mining company LKAB.

Highlights of the new drill results, which support and build on results from 12 historic Diamond core holes completed by the Swedish Geological Survey (SGU), include:
  • Hole 07001 42.8% Fe + 0.12% Cu over 52.7m from 15.3m downhole
  • Hole 07004 35.5% Fe + 0.10% Cu over 53.9m from 41m downhole
  • Hole 07005 46.5% Fe + 0.12% Cu over 49.2m from 97.8m downhole
  • Hole 07006 35.3% Fe + 0.12% Cu over 147.3m from 89.9m downhole
  • Buck Morrow, the President of Northland, said "The successful Salmivaara drill program is a continuation of Northland's strategy to define combined resources of more than 500 million tonnes of magnetite at the Company's iron projects in northern Europe. Our drilling cut substantial magnetite mineralization below the limits of the historical work - a very promising start to our exploration at Salmivaara. We are planning additional drilling this winter to further define the Salmivaara magnetite bodies and will begin metallurgical testwork."

    A full table of Northland's results is given below. Northland's holes were drilled on 3 profiles: Holes 001, 002 and 004 form one profile, holes 005 and 006 are on another and hole 003 was drilled on the same profile has historic hole 70801.

    All holes were drilled at an angle of -50 degrees. Mineralized widths in the table below are downhole widths and not true widths. The information available suggests that the magnetite bodies are steeply dipping and therefore the true thickness of the magnetite is likely to be less than the downhole mineralized intervals. Assay intervals were calculated based on an assumed cut off grade of 15% Fe. Drill sections will be posted shortly on Northland's website at www.northlandresourcesinc.com

    Hole No.

    From (m)

    To (m)

    Width (m)

    Fe %

    Cu %

    S%

     

     

     

     

     

     

     

    SAL07001

    15.3

    68.0

    52.7

    42.8

    0.12

    3.28

    and

    98.7

    128.3

    29.6

    34.2

    0.08

    2.72

    and

    136.8

    216.9

    80.1

    33.7

    0.17

    4.18

    including

    136.8

    178.6

    41.8

    39.3

    0.24

    5.39

     

     

     

     

     

     

     

    SAL07002

    64

    137.6

    73.6

    34.2

    0.12

    2.87

    and

    206.8

    256.2

    49.4

    27.6

    0.06

    2.08

    including

    92.2

    117.2

    25.0

    48.3

    0.18

    4.21

     

     

     

     

     

     

     

    SAL07004

    41.1

    95.0

    53.9

    35.5

    0.10

    3.15

    and

    160.0

    203.3

    43.3

    32.6

    0.14

    3.70

     

     

     

     

     

     

     

    SAL07005

    73.7

    155.0

    81.3

    40.4

    0.09

    2.27

    and

    250.4

    292.7

    42.3

    28.8

    0.15

    4.1

    including

    97.8

    147.0

    49.2

    46.5

    0.12

    3.17

     

     

     

     

     

     

     

    SAL07006

    40.4

    68.0

    27.6

    32.0

    0.04

    1.81

    and

    89.9

    237.2

    147.3

    35.3

    0.12

    2.57

    and

    305.2

    355.4

    50.2

    26.8

    0.09

    2.29

    including

    153.6

    211.6

    58.0

    44.6

    0.23

    4.82

     

     

     

     

     

     

     

    SAL07003

    56.1

    64.8

    8.7

    43.02

    0.14

    3.74

     

     

     

     

     

     

     


    The SGU's interpretation of multiple, steeply-dipping magnetite bodies within a large synformal fold structure is supported by Northland's drilling, where the magnetite bodies appear to be thickest and highest grade in the core of the synform, showing multiple intervals of greater than 40% Fe over 10s of metres, and locally greater than 50% Fe (e.g. drillholes SAL07001, 07005 and 07006 - drillhole 07006 returned 20.9m of 52.5% Fe from 191m downhole).

    Mineralization at Salmivaara consists of magnetite with pyrite, pyrrhotite and chalcopyrite. It was discovered in 1897, first drilled in 1904, and was mined for copper during World War II. The Swedish Geological Survey (SGU) worked on the deposit between 1967 and 1971, publishing a report titled "Salmivaara Iron Occurrence" and describing the deposit in the Swedish Iron Ore Inventory. A total of 12 holes were drilled, for 1,818m of core drilling to a maximum depth of 120m below surface, and the SGU completed magnetic and gravimetric studies which indicate that the magnetite body may continue to a depth of at least 700m below surface.

    Northland has compiled the available historic drill data. The mineralized intercepts reported by the SGU are as follows:

    Hole No.

    From (m)

    To (m)

    Width (m)

    Fe %

     

     

     

     

     

    SAL71801

    112

    426

    314

    25.8

    SAL71802

    80

    142

    62

    23.5

    SAL40001

    22.9

    78.4

    55.5

    22.8

    SAL40002

    14.7

    37

    22.3

    31.3

    SAL40005

    24.6

    44.5

    19.9

    45.0

    SAL40006

    28.9

    163.3

    134.4

    24.2

    SAL40007

    21.7

    85.3

    63.6

    46.1


    Based on drilling, the SGU published an estimated resource of 16 million tonnes grading approximately 34% iron with between 0.1 to 0.8% Cu. Sulphur content averages 3.6% with 0.03% phosphorous. The reader is cautioned that this historic resource does not comply with the standards set out in NI43-101 and cannot therefore be relied upon. Northland is currently carrying out the work required to verify the historic resource.

    Assay Protocol

    The core was cut at Northland's core facility in Kolari, Finland. A one half split core from Salmivaara was prepared at ALS Chemex Lab in Pitea, Sweden and then transported to ALS Chemex Vancouver, British Columbia Canada for analysis.

    Copper and Iron were analyzed by Sodium Peroxide Fusion multi element analysis, ICP-AES Method ME-ICP81. Gold was analyzed by Lead Fire Assay Pre-concentration with ICP-AES Method Au-ICP21 finish.

    In addition to the ALS Chemex internal sample preparation and assay QC protocol, Northland maintains a rigorous QA/QC program consisting of inserting blanks, duplicates and certified standards to the analytical process.

    Qualified Person

    The technical information in this release was prepared under the supervision of Mr. David Cass, who is a member of the Association of Professional Engineers and Geoscientists of British Columbia, and a "Qualified Person" in accordance with National Instrument 43-101.

    About Northland (www.northlandresourcesinc.com)

    Northland is a well-structured, debt free junior exploration company with a portfolio of high quality iron, gold, and base metal exploration projects in Sweden and Finland.


    ON BEHALF OF THE BOARD

    "Buck Morrow"
    NORTHLAND RESOURCES INC.

    The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

    CONTACT INFORMATION
    Northland Resources Inc.
    Buck Morrow, President

    Investor Relations:
    North America, Ralph Rushton: Toll Free: 1-866-719-8962
    Europe, Gabriella Roos: Tel. +44 791 286 9936

    Copyright © 2008 NORTHLAND RESOURCES INC. (NAU) All rights reserved. For more information visit our website at http://www.northlandresourcesinc.com/ or send email to RalphR@Goldgroup.com ..
    Message sent on Fri Jan 11, 2008 at 4:45:43 PM Pacific Time
Data and Statistics for these countries : Canada | Finland | Sweden | All
Gold and Silver Prices for these countries : Canada | Finland | Sweden | All

Northland Resources Inc.

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CODE : NAU.TO
ISIN : LU0488722801
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Northland Res. is a copper exploration company based in Canada.

Northland Res. develops copper and iron in Sweden, and holds various exploration projects in Finland and in Sweden.

Its main asset in development is TAPULI in Sweden and its main exploration properties are PELLIVUOMA, STORA SAHAVAARA, BARSELE/ NORRA, LANNAVAARA AND SAARIJARVI and KAUNISVAARA in Sweden and HANNUKAINEN and KUERVITIKKO in Finland.

Northland Res. is listed in Canada, in Germany, in Norway and in United States of America. Its market capitalisation is CA$ 66.8 millions as of today (US$ 61.6 millions, € 46.8 millions).

Its stock quote reached its highest recent level on May 16, 2008 at CA$ 4.34, and its lowest recent point on February 08, 2013 at CA$ 0.10.

Northland Res. has 514 179 000 shares outstanding.

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Corporate Presentations of Northland Resources Inc.
10/11/2007 Presenting at Canaccord Adams' Iron Ore Conference
Annual reports of Northland Resources Inc.
2008 Annual Report
Financings of Northland Resources Inc.
6/18/2012Finalizes the Financing for its Drill Rigs
2/15/2012Announces Fully Subscribed Bond Offering and Re-Launch of Fu...
2/8/2012Extends the Application Period for the Equity Offering
7/13/2007closes private placement & conducts public offering
6/19/2007C$107-million Private Placement Fully Subscribed
6/18/2007arranges C$107-million Private Placement
Nominations of Northland Resources Inc.
1/17/2012Appoints Acting Chief Financial Officer
8/29/2007Appoints Tuomo Mäkelä to the Board of Directors
8/9/2007Appoints Stuart Pettifor to the Board of Directors
7/27/2007(Barsele/ Norra)Retains Project Manager for Barsele-Norra Project Area
5/7/2007Appoints Birger Solberg as Director
2/27/2007Appoints CFO and COO
Financials of Northland Resources Inc.
11/14/2012Announces Third Quarter 2012 Results
Project news of Northland Resources Inc.
2/2/2012(Kaunisvaara)to Finance its Kaunisvaara Project
7/19/2011(Kaunisvaara)Significant Progress is Being Made at Northland's Kaunisvaar...
6/29/2011(Kaunisvaara)and Peab to Form a Joint Venture for Managing the Transport ...
6/10/2011(Hannukainen)Buys Properties in Preparation for the Hannukainen Mine in F...
5/31/2011(Kaunisvaara)Signs Agreement With Peab for the Civil Works at the Kaunisv...
5/18/2011(Kaunisvaara)Positive Update on Northland's Kaunisvaara Project Confirmin...
4/28/2011(Kaunisvaara)Signs Agreement with Poyry for Engineering and Construction ...
3/28/2011The Swedish Transport Administration and Northland Resources...
2/16/2011(Kaunisvaara)Signs Agreement with Metso for Long-Lead Items and Basic Eng...
4/16/2010(Tapuli)Releases Tapuli, Sahavaara and Pellivuoma Mineral Resource U...
9/7/2009Moves to Feasibility Study after Positive PEA on Kaunisvaara...
8/27/2009(Barsele/ Norra)Northland Considers Strategic Opportunities for Swedish Gold...
3/14/2008(Stora Sahavaara)submits exploitation concession applications for Tapuli and ...
2/11/2008 Reports Iron Resource at Tapuli & Excellent Metallurgical T...
2/1/2008 Appoints Scoping Study Manager
1/16/2008Drills Extension of Stora Sahavaara Magnetite Body
1/14/2008(Salmivaara) Cuts 43% Iron over 53m at Salmivaara, Sweden
8/23/2007Defines Major Iron-Copper-Gold Resource at Hannukainen
7/26/2007(Stora Sahavaara)Northland's Stora Sahavaara Project Initial Test Results Yie...
3/21/2007(Barsele/ Norra)Reports Barsele Drill Results, Identifies High Grade Gold + ...
Corporate news of Northland Resources Inc.
3/15/2013to Be Delisted From the Toronto Stock Exchange
2/25/2013First Vessel Has Left the Port of Narvik
2/18/2013Notice to Attend the Creditors' Meeting for Northland's Swed...
2/5/2013Cancels Previously Announced Contemplated Equity Issue and B...
1/24/2013to Address Funding Shortfall Due to Higher Initial Opex and ...
12/11/2012Completes a Successful Subscription of a USD 20 Million Bond...
10/26/2012Receives Dispensation for 90 Tonnes Trucks
10/15/2012Shares Trading on Nasdaq OMX in Stockholm under the Ticker N...
9/25/2012Operational Update - September 2012
9/17/2012Granted Requested Train Slots on the Malmbanan Railway
9/5/2012Welcomes Swedish Government's Infrastructure Drive
7/19/2012Operational Update - July 2012
7/2/2012Drawing Down on Bond Facility
5/28/2012USD 350 Million Bond Rated (B-) From S&P and (Caa1) from Moo...
5/22/2012Operational Update-May 2012
5/3/2012Has Signed a USD 40 Million Cost Overrun Facility
4/24/2012Signs Logistics Agreement with Green Cargo
4/12/2012Signs Mobile Mining Equipment Maintenance Agreement
3/19/2012Operational Update-March 2012
3/7/2012(Kaunisvaara)Streamlines its Management Structure Ahead of Production Sta...
2/23/2012Completes USD 325 Million Offering of Shares
12/21/2011(Kaunisvaara)Signs a USD 50 Million Bridge Financing for Its Kaunisvaara ...
12/1/2011Receives Construction Permit for Narvik Iron Ore Terminal
10/14/2011(Kaunisvaara)Strengthens its Kaunisvaara Operational Management Team
10/7/2011Management Appointments at Northland
9/6/2011(Kaunisvaara)Kaunisvaara Project On Time for Production in 2012 and Withi...
8/25/2011Obtains Final Approval to Operate an Iron Ore Terminal in Na...
8/4/2011(Kaunisvaara)Signs a Letter of Intent with Logistics Specialists to Manag...
7/6/2011Signs Agreement with FineWeld for Process Water Systems
4/12/2011S.A.: Clarification on Media Reports
4/7/2011Appoints Anders Antonsson as Vice President, Investor Relati...
3/22/2011Sells its Swedish Non-Ferrous Assets
1/20/2010Continuation of Company to Luxembourg and Change Name to Nor...
10/13/2009Reorganizes Senior Executives in Response to Improved Market...
3/17/2008 Comments on Infrastructure Discussions
2/8/2008 Provides Drilling Update
12/12/2007Buys Anglo American's Royalty and Back-In Right in Swedish I...
10/23/2007Spins-Out Its Non-Ferrous Projects
10/2/2007Successful Pelletizing Test for Northland's Stora Sahavaara ...
9/13/2007Outlines Regional Exploration Progress
8/2/2007Receives Approval for Road Construction at the Tapuli Iron P...
8/1/2007 Mobilizes Drill to Salmivaara, Re-Assays Archived Core
7/24/20072007 Annual General Meeting
7/17/2007Provides Update on Metallurgical Testwork at Hannukainen Iro...
6/15/2007Announces Tapuli Drill Results
5/9/2007Acquires New Iron-Copper Target in Sweden
4/16/2007retains Corus Consulting to investigate beneficiation and ma...
3/26/2007Updates on Stora Sahavaara Iron Project
3/2/2007Film on Stora Sahavaara
2/28/2007Update on Bulk Sampling of Stora Sahavaara Iron-Copper Proje...
2/27/2007Releases More Iron-Copper-Gold Results for the Hannukainen P...
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