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The Sahavaara iron ore deposit is a key element of the Kaunisvaara iron concentrate project. The Kaunisvaara project contemplates that the Tapuli, Sahavaara and Pellivuoma iron ore deposits will provide feed to a centralized processing facility, which will produce a high-grade, high-quality magnetite iron concentrate. The Tapuli iron ore deposit was granted an exploitation concession by the Mining Inspectorate of Sweden last November.
On September 7, 2009, Northland announced that the Kaunisvaara project was technically feasible and financially positive. Using a discount rate of 8%, the project has a potential Net Present Value of USD 393 million and an Internal Rate of Return of 21.1%.
For More Information, Contact:
Anders Hvide, Executive Chairman, Oslo: Tel. +47 92 88 98 58 Deborah Craig, Vice President, Northland Resources AB, Stockholm: Tel. +46 70 638 4300
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
SOURCE: Northland Resources Inc.
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