Champion and Cartier complete resource for Penguin Lake

Champion Iron Mines (TSX: CHM) has increased tenfold the historic resource at its Penguin Lake iron project in the southern portion of the Labrador Trough, about 240 km north of the Port of Sept-Îles and 110 km southwest of the town of Fermont.

Penguin Lake’s in-pit inferred resource now stands at 531.1 million tonnes grading 33.1% total iron (FeT) at a cut-off grade of 15% FeT.

Penguin Lake is 60 km southwest of Champion’s flagship Consolidated Fire Lake North project, which is immediately north of Arcelor Mittal’s (NYSE: MTN) operating Fire lake mine.

Continue reading this story at www.northernminer.com.