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Applied Minerals Provides Updated Resource Statement Of Its Dragon Mine Property

Average Quality of Iron Ore from Pit area (4.95 acres) is as follows:

          Iron Ore Composition (Wt %)
Fe 52
Si 3.12
Al 1.69
Ca 0.31
Mg 0.09
Mn 0.59
P 0.3
S 0.29
LOI 12

From the Western area (6.33 acres) iron ore was logged in the boreholes and an Inferred Resource of 688,300 tons is identified. Eight samples were collected and show presence of hematite, goethite and amorphous iron (ferrihydrite). Because of the small size of individual crystals ferrihydrite has a large surface area of several hundred square meters per gram. In addition to having a high surface area to volume ratio, ferrihydrite has the ability to adsorb arsenic, lead, phosphate, and organic molecules. Its strong and extensive interaction with trace elements is used in water purification plants to clean wastewater and groundwater. An example of this is to remove arsenic from industrial effluents and drinking water.

Goethite (ochre) is being studied from the mine as a pigment and some trials have been carried out

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