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MENAFN - ProactiveInvestors - Australia - 10/10/2012

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(MENAFN - ProactiveInvestors - Australia) Nevada Iron (ASX: NVI) managing director Max Nind has resigned and Chris Tanner appointed as its chief operating officer in line with its goal of locating senior management in the U.S.

Nind has been with the company for over four years and had advanced the Buena Vista Iron Project in Nevada from an early stage exploration prospect through to having a feasibility study completed in 2011.

Permitting for the project has also advanced substantially during this time.

Nind will work out a four month notice period to ensure a smooth transition and handover to Tanner.

Tanner has been with Nevada Iron for four months as project manager and will assume his new role with immediate effect.

He is based in Reno, Nevada, and has in excess of 18 years project design and development experience in Texas, California, Bolivia, Argentina, Mexico and importantly, Nevada.

Tanner was most recently global construction project manager for Idaho-based Coeur D'Alene Mines, where he was responsible for developing and managing all major capital improvement projects for Coeur globally, including an underground paste tails project in Alaska, filter plant in Bolivia, new crusher and conveyors in Nevada and new mine developments in both Mexico and Argentina.

Prior to this, Chris was project manager for Hycroft Resources based in Winnemucca, Nevada where he was responsible for Engineering, Procurement and Construction Management for all capital improvement projects at the Hycroft Mine.

He has also worked as a senior project engineer at the Kinross Round Mountain Mine in Nevada and as assistant project manager for the construction of the 1.5 Billion Minera Penasquito Project for Goldcorp in Mexico.

Nevada Iron has recently uncovered further evidence of the quality of Buena Vista with drilling at the Section 5 deposit returning intersections including 67.1 metres at 26.3% total iron from 14 metres, 33.6 metres at 23.8% total iron from 39.6 metres, and 120.4 metres at 23% total iron from 59.5 metres.

The Section 5 deposit has an exploration target of 12 to 18 million tonnes at 18% to 26% total iron. Providing the upside, the project's currently identified exploration targets provide for an additional 195 to 268 million tonnes of exploration potential.

Metallurgical work has also proved that even low grade Buena Vista ore upgrades, at a significantly coarser grind than typical banded iron formation (taconite) magnetite ore, to produce high quality clean concentrate grading 67.5 to 69% iron.


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