Britannia Mining, Inc. (OTC Pink: BMIN) (BMIN or the Company), the successor of a merger between UK based mining development company Britannia Mining Plc and U.S. based Micron Enviro Systems (Former Symbol: MSVS), announced today that geologist firm, Bastillion Resources, sees the Nthale Hill iron ore project to fairly resemble a famous World Class Asset of well over 1 Billion Tons.
"The Kiruna mine in Sweden is a major iron ore resource," said Nicola Newmarch, COO of Britannia Mining. "The implication that the geology at Nthale is remotely similar to Kiruna is substantial because this shows the potential that Nthale has to be a World Class Asset of over 100 Million Tons."
Bastillion Resources, a leading geologist firm, first made the comparison between the two properties in 2013. They noted that the Kiruna deposits are formed from thicker lenses joined by thin, extensive magnetite rich beds while Nthale's deposit seems to be formed by thicker lenses with thin, laterally extensive magnetite rich beds joining up the thicker lenses.
Paul Karpeta, Principal Geologist of Bastillion Resources, stated that geophysics at Nthale would have to be conducted to, "Establish the full extent of the ore body itself and then extend that out along strike to locate other, thicker lenses." Continuing, "Certainly, the original geological mapping of the area by the Malawi Geological Survey indicates there are possibly another three ore bodies along strike within five or six kilometers."
The recent view on Nthale's geological makeup, particularly its similarity to Kiruna, lends heavily to the investment interest shown toward Britannia. However, Mr. Karpeta has made clear, Nthale Hill may at this time seem smaller than Sweden's famed iron ore resource -- which to date is approximated to have produced over 950 million tons of iron ore at roughly 60% Fe -- only because it is early in the development process. However, it is actually unclear just how much larger Nthale Hill may actually be. Therefore, Bastillion's geologists are inclined to believe that the Nthale Hill project can be developed over time, to reflect similar tonnage figures as produced by Kiruna, and perhaps also become recognized as a World Class Asset.
About Bastillion Resources
Bastillion Resources is an independent geological mining and consulting company specializing in Africa. Its head office is in Johannesburg, South Africa. The company offers professional services in exploration and mine geology, economic and financial deposit evaluation. The company's experience spans 16 years in international consulting in the African continent.
About Britannia Mining
Britannia Mining is a mining development company that is focused on acquiring high quality mineral and mining projects. The company is committed to developing revenues by conducting exploration and evaluation activities. The company's mission is to identify potential mineral targets to deliver value via developing sales opportunities.
Acquisition Focus
The company is targeting revenue producing assets and is currently in negotiations regarding acquisition of mineral stockpiles.
Exploration Focus
The company has been developing a high grade iron ore project in Malawi and is currently renewing the Exclusive Prospecting License (EPL) for iron ore over 650 sq km at Nthale Blantyre. The company is targeting 100 Million Tons (MT) iron at Nthale Hill (20 sq km).
Britannia Mining has inherited the legacy projects (Gold claims) of the former Micron Enviro Systems in the Yukon and plans to conduct sampling on this area.
For more information, please visit www.BritanniaMining.com.
Safe Harbor
This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may,'' "should,'' "expects,'' "plans,'' "anticipates,'' "believes,'' "estimates,'' "predicts,'' "potential'' or "continue'' or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled "Risk Factors'' in the Company's periodic filings with the United States Securities and Exchange Commission, which can be viewed at http://www.SEC.gov. For all details regarding working interests in all of BMIN's mining prospects or any previous news releases go to OTC Markets website. You should independently investigate and fully understand all risks before making investment decisions.
CONTACT:
Team BMIN
(646) 580-1153
SOURCE: Britannia Mining Inc.
Associated Documentation:
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BMIN_3-4-2014_PAP_ETL.docx
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