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Canadian Orebodies research and analysis

Contributed by eResearch

Canadian Orebodies Inc. has published the first set of drill results (nine holes totalling 1,594 metres) from its ongoing program at the Haig Inlet iron project on the Belcher Islands in Nunavut.

At Haig West, wide zones of coarse-grain magnetite were discovered; at Haig North, iron mineralization was delineated over an 8-km trend.

Highlights of the assay results included 55.9 metres of 28.9% Fe at Haig West, including 16.2 metres of 35.9% Fe.

Canadian Orebodies is working towards having a revised NI 43-101 compliant resource estimate in Q1/2013.

COMMENT: The reported assay results from all three targets (Kihl Bay, Haig North, and Haig West) correspond to the project’s compliant resource in terms of grades. The Haig West target will likely obtain infill drilling this year as drilling over a 25 kilometer strike at the target encountered iron formation in 13 drill holes across the entire strike length. This kind offormation promises to increase the Company’s resources far beyond the current 519 Mt when an updated NI 43-101 compliant resource estimate for the project is published in early 2013.

THE COMPANY

Canadian Orebodies Inc. has interests in 11 mining exploration properties located in Canada. The Company’s exploration focus is on iron ore and its main property is the Haig Inlet iron ore project, located on the Belcher Islands in Hudson Bay in southern Nunavut (see the map below).

The Company’s Haig Inlet project is a hidden gem in the Canadian iron ore sector. The project is relatively unknown, but it already has more than 500 Mt @ 35% Fe in a NI 43-101 compliant mineral resource.

The project’s location on the Belcher Islands in the southern part of Hudson Bay is favourable compared to the more northerly locations of many of its more well-known domestic peers. Also, since the Belcher Islands are close to Quebec, the project may be able to capitalize on some of the infrastructure commissioned under the Plan Nord. The climate on the Belchers is more favourable than for many of the Nunavut-based iron ore projects. The deposit is located at tidewater and will not need a costly railroad or a pipeline to get to port.

In 2012, Canadian Orebodies increased its land position on the Belcher Islands by 57%, by acquiring three Inuit-owned parcels totalling 14,527 hectares. This brings the Company’s land position to 39,903 hectares.