IRON ORE: Penguin Lake tests creates clean, 65% Fe concentrate

QUEBEC – Metallurgical tests carried out on samples of mineralized material from the Penguin Lake project resulted in a clean, 65.3% Fe concentrate. The Penguin Lake project, in the southern Labrador Trough, is owned by Champion Iron and optioned by Cartier Iron Corp. of Toronto.

The flowsheet for the project will probably include a two-stage process. Initial grinding will be followed first by gravity separation to recover the coarser fraction and second by regrinding and magnetic separation of the tails from the first stage. Tests indicate the concentrate will contain <4.5% SiO₂. Overall recovery rates are to be at least 80%.

The proposed open pit at Penguin Lake hosts an inferred resource of 531 million tonnes grading 33% Fe at a 15% cut-off grade.

The testing was conducted by SGS Laboratories as part of the Penguin Lake preliminary economic assessment. Optimization tests are on-going.

The Penguin Lake technical report is available at CartierIron.com.