QUEBEC – Champion Minerals of Toronto has released a 43-101-compliant resource report that includes over a billion tonnes of resources at its Fire Lake North project near Fermont. The measured and indicated portion is 400.1 million tonnes grading 30.6% Fe, and the inferred portion is 661.2 million tonnes grading 27.7% Fe. A 15% Fe cut-off figure was used.
The Fire Lake North property is one of 17 mineral-rich concessions held by Champion Minerals in northeast Quebec. Champion’s direct interest is 82.5% and the remaining 17.5% is held by Fancamp Exploration. The property abuts the Fire Lake iron ore mine property owned by ArcelorMittal.
The next milestone for the Fire Lake North project will be the completion of a preliminary economic assessment.
Please see www.ChampionMinerals.com.