IRON ORE: Labec Century named Newfoundland explorer of year for Joyce Lake

LABRADOR – Labec Century Iron Ore, a joint venture of Toronto-based Century Iron Mines (60%) and China's WISCO (40%), has won the 2014 Explorer of the Year Award presented by the CIM Newfoundland Branch at its annual awards banquet last week in St. John's. The award recognizes the significant advances in iron ore resource development at the Joyce Lake direct shipping ore (DSO) deposit that straddles the Quebec-Labrador border.

The Joyce Lake project is the first DSO discovery in the area in three decades. Century and Labec Century have invested $30 million over the past eight years to bring the project to its current advanced stage of feasibility and environmental studies, which are expected to be completed in the first quarter of 2015.

"Receiving this award is a great honour. Labec Century is proud to have discovered the Joyce Lake DSO deposit from early stage prospecting in a previously unknown DSO area in the Labrador Trough. It means a lot to us, coming from this prestigious professional association, and we are truly grateful for this recognition," said Sandy Chim, chairman of Labec Century and president and CEO of Century Iron.

Joyce Lake is part of the Attikamagen project. Read the preliminary economic assessment at CenturyIron.com.