Alderon Resource Corp’s USD 7.5 million iron ore exploration program in western Labrador is showing promise after thousands of rock samples taken from an area just west of Labrador City showed positive results. It is anticipated that the size of the reserve shows a market capability of just over USD 50 million. Mr Matt Simpson, COO of Alderon, has said that the exploration would pause in November 2010, but resume in January 2011and that the company hopes to be mining by 2014.