LABRADOR – Calgary-based New Millennium Iron Corp. has received an initial resource report for its Sheps Lake and Perault Lake properties totalling 3.58 billion indicated tonnes grading 31.22% Fe using a cut-off of 18% DTWR (Davis tube weight recovery). The company calls this "another significant deposit" in the Millennium Iron Range. There are also 795,000 tonnes of inferred resource at 30.56% Fe.
The Sheps Lake property is located south of the LabMag deposit, and the Perault Lake deposit is immediately south of Sheps Lake.
New Millennium and partner Tata Steel are working on the advanced LabMag and KeMag projects. The company also plans to release resource information on its Howells Lake and Howells River North deposits by the middle of the year.
Visit NMLiron.com for complete information on all these projects.