President of Northland Buck Morrow said, “Our exploration drilling throughout the Pajala Shear Zone continues to demonstrate that we are in the middle of an iron ore camp where we have identified numerous mineralization occurrences in addition to our core project areas. These satellite mineralization zones have the potential to add substantial tonnages to our existing resource base. Pellivuoma is just one of over 25 identified exploration projects which are targeted for additional exploration.”

Northland Resources reported Monday, that the company has received all assays for the final three holes from the year’s drilling at the Pellivuoma iron deposit in Sweden, located roughly 15km west of Northland’s Tapuli project. Drilling indicates that a substantial tonnage of potentially open-pittable magnetite may be present at Pellivuoma within hauling distance of the proposed Tapuli-Stora Sahavaara iron ore processing facility. This could significantly extend the life of the planned complex.

On the Northland Bullboard, Stockhouse investor Ken1234 pointed out that Northland Resources isn’t the only stock in the doldrums these days (down 62% in less than three months) in the following post, edited for clarity:

Ken1234 : I think we have to resign ourselves to the fact that junior mining stocks are totally out of favor. Mid to long term this will change but for the short term, we’re in the basement to stay. I only wish I wasn’t so fully invested in other mauled stocks, most of which are blue chips, so I could load up on more NAU.

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