|
|
 |
|
|
Century iron mines provides update on drilling plans for rainy lakeproperty by efvf thbtn
|
|
|
Century iron mines provides update on drilling plans for rainy lakeproperty by EFVF THBTN
|
|
| Article Posted: 12/07/2013 |
| Article Views: 191 |
| Articles Written: 1207 - MORE ARTICLES FROM THIS AUTHOR |
| Word Count: 772 |
| Article Votes: 0 |
|
Century iron mines provides update on drilling plans for rainy lakeproperty |
|
|
|
|
|
Business,Business News,Business Opportunities
|
|
Century Iron Mines Corporation has provided an update on itscurrent exploration plans for the Rainy Lake portion of its SunnyLake iron ore project in Quebec. At Rainy Lake in the Schefferville area of Quebec, the companykicked off a 2012 winter program in February 2012, consisting of10,337 meters drilled for 41 holes to date, and intercepting 7,268meters of moderate to strongly magnetic mineralized zones. Century Iron said it expects to release the results of these holesin the next two months. The winter program, which followed asuccessful 2011 program that uncovered the new taconite Full Moonprospect, extended the strike length to roughly 9 kilometers. The company is continuing its current exploration program, and saidit expects to drill more than 5,000 meters in the next two months,the results of which will be used to provide an initial NI 43-101compliant resource estimate.
In 2011, a 6,387 meter exploration drill program was carried out atthe Rainy Lake area comprising 31 holes. The assay results fromthis drilling program were released in January 2012, with the newdiscovery zone, now named the Full Moon prospect, tested by 31diamond holes over a strike length of 6.5 kilometers, and ahorizontal width of up to 2.8 kilometers. Highlights from the Full Moon prospect included 318.2 meters oftaconite iron mineralization from 5.4 meters depth grading 29.5%total iron in hole RL-11-0401. The vertical thickness of the newzone increases to the east from 50 meters to 341 meters and remainsopen along strike.
Mr Sandy Chim president & CEO of Century Iron Mines Corporationsaid that "I am pleased with the progress of the drilling to date.So far, with over 16,000 meters of drilling, this has extended thestrike length of the mineralized iron formation to approximately 9kilometers. Due to its thickness, width and strike length, the FullMoon project has the potential of being one of the largest singletaconite deposits in Canada." Mining taconite is relatively new in Canada, but it has been themain staple of the US steel industry. Roughly half of the blastfurnaces in the US use pellets from the taconite like Mesabi IronRange in Minnesota and Marquette Iron Range in Michigan. Mr Chim continued that "The Canadian Labrador Trough is a classictext book example of such taconite formation on a very largescale." The Sunny Lake property, located in the Schefferville area inQuebec, has taken up a large amount of the company's focus lately,with two promising targets at the site.
The outstanding property, as described by Mr Chim, was acquired in2009 by staking, and hosts 530 mineral claims, covering around25,692 hectares. The project, which is 100 percent owned byCentury, consists of two separate claim areas Lac Le Fer and RainyLake with both areas being at an early stage of exploration andhaving no defined resources. Taconite is a variety of iron formation, which is an iron bearingsedimentary rock, while direct shipping ore refers to iron ore thatcan be shipped directly to a steel furnace. In February 2012, assay results from the Lac Le Fer that tested theDSO target were unveiled.
The company tested the target, namedProspect 3, with one short hole at the end of the explorationprogram. Hole LLFP3-11-004 intersected 45 meters of 62.67% total iron, withthe hole ending in mineralization at 54 meters, meaning it can beexpanded further. The Lac Le Fer and Rainy Lake properties arelocated 65 and 85 kilometers, respectively, northwest of the townof Schefferville and are accessible by air. Under the terms of a definitive joint venture agreement signed withWISCO International Resources Development in December 2011, WISCOhas a 40% interest in Sunny Lake in exchange for a $40 millioninvestment.
WISCO has a right of first refusal to purchase up to 40% of theproduction attributable to the JV company at cost and a right topurchase an additional 20% of production at market. Century Iron Mines is Canada's largest holder of iron ore landclaims, with interests in several properties in the provinces ofQuebec and Newfoundland and Labrador. Aside from Sunny Lake, Century Iron holds a 51% interest in theDuncan Lake project with an option to increase to 65% under a jointventure with Augyva Mining Resources. It also holds the Attikamagenproject, for which Century has an option to acquire up to a 60%interest under an agreement with Champion Minerals.
In addition to Century's main three projects, late last year, itacquired four iron ore properties in Newfoundland from AltiusMinerals, where it is planning around USD 5 million worth ofexploration this year. Source - Century Iron Mines Corporation. I am CD Player writer, reports some information about metal bird bath , fish cookie cutter.
Related Articles -
metal bird bath, fish cookie cutter,
|
Rate This Article  |
|
|
|
|
|
Do you Agree or Disagree? Have a Comment? POST IT!
| Reader Opinions |
|
|
|
|
|
|
|
|
|
| Author Login |
|
|
 |
Advertiser Login
ADVERTISE HERE NOW!
Limited Time $60 Offer!
90 Days-1.5 Million Views
|
|
TIM FAY
After 60-plus years of living, I am just trying to pass down some of the information that I have lea...more
|
|
|
|
|
LAURA JEEVES
At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
|
|
|
|
|
ALEX BELSEY
I am the editor of QUAY Magazine, a B2B publication based in the South West of the UK. I am also the...more
|
|
|
|
|
GENE MYERS
Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
|
|
|
|
|
SUSAN FRIESEN
Located in the lower mainland of B.C., Susan Friesen is a visionary brand strategist, entrepreneur, ...more
|
|
|
|
|
STEPHEN BYE
Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through the...more
|
|
|
|
|
SHALINI MITTAL
A postgraduate in Fashion Technology. Shalini is a writer at heart! Writing for her is an expression...more
|
|
|
|
|
ADRIAN JOELE
I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more
|
|
|
|
|
JAMES KENNY
James is a Research Enthusiast that focuses on the understanding of how things work and can be impro...more
|
|
|
|
