Dax © 20.310 +0,19%
Dow Jones 42.573 +0,20%
S&P 500 5.843 +0,11%
Dow Jones 42.573 +0,20%
S&P 500 5.843 +0,11%
Nasdaq 20.775 +0,18%
Nikkei 38.262 -1,03%
Hang Seng 19.286 +0,35%
Nikkei 38.262 -1,03%
Hang Seng 19.286 +0,35%
EUR/USD 1,03062 -0,05%
BTC/USD 97.419 +0,91%
ETH/USD 3.245 +0,65%
BTC/USD 97.419 +0,91%
ETH/USD 3.245 +0,65%
CHM - Champion Minerals - WKN A0LF1C
- Ersteller dukezero
- Erstellt am
- Tagged users Kein(e)
Apr 18, 2011 07:30 ET
Champion Minerals Awards Two Railway Infrastructure Studies to Rail Cantech Inc. and Stantec Consulting
TORONTO, ONTARIO--(Marketwire - April 18, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to announce that contracts for two railway studies have been awarded to determine rail options for the Fire Lake North ("FLN") Project. These studies will clarify existing options for rail and port infrastructure associated with the updated FLN Preliminary Economic Assessment ("PEA") scoping study scheduled for release in the third quarter of 2011. The studies will be utilized to define the best rail infrastructure option and scope of work for the Feasibility Study that is scheduled for delivery during the second quarter of 2012.
In the initial November 2010 PEA, the cost of a 62 km railway to connect to the Bloom Lake Railway ("BLR") was included in the project study. This was the lowest capital expenditure solution of several options being considered for connecting to the Quebec North Shore and Labrador ("QNS&L") railway. The FLN railway infrastructure study has been awarded to Rail Cantech Inc., a full service railway provider that constructed the BLR in 2010. Rail Cantech will compare each option and determine the optimal scenario for Champion's FLN Project.
A second study was also awarded to Stantec Consulting to determine the capacity of the QNS&L railway that connects to the Port of Sept Isles. Due to increasing demand for rail access associated with the growing Canadian iron ore industry, this study will also help to determine the optimal railway infrastructure solution for the Company.
Tom Larsen, President and CEO stated, "This study will enable the Company to identify the best railway option for the FLN Project. We have retained Rail Cantech who constructed the Bloom Lake Railway in 2010 and their expertise will be utilized by Champion in the ongoing PEA Update study that will define the scope of work for the 2012 Feasibility studies on FLN."
The Fermont Iron Holdings
Champion's Fermont Property Holdings comprise seventeen Properties. Three of the seventeen Projects drilled by Champion to-date, namely Fire Lake North, Bellechasse and Harvey-Tuttle, contain current combined National Instrument 43-101 compliant Inferred Mineral Resources totaling 1.55 Billion Tonnes grading 25.4 % Total Iron at a 15% cut-off. Seven other Properties contain combined Historical Mineral Resource Estimates* totaling 613 MT grading 31% Total Iron.
A fully-funded, 60,000 m diamond-drilling program is underway and is designed to outline the resource base for eight Projects within conveying distance of the Fire Lake North Project in Cluster 2, together with ongoing drilling on the Lac Moire Project, which is adjacent to the east of ArcelorMittal's Mont Wright Mine.
About Champion Minerals Inc.
Champion Minerals is an exploration and development company focused on discovering and developing significant iron ore resources in the provinces of Quebec and Newfoundland & Labrador. The Company's projects include the Fermont Property Holdings in Quebec, jointly held by Champion, with an 82.5% interest and Fancamp Exploration Ltd., holding a 17.5% interest, the Attikamagen Iron Property in Quebec and Labrador, and the Powderhorn / Gullbridge base-metal Projects in central Newfoundland.
*Historical Mineral Resources* are from Paquet, 1963 (MRNFQ Assessment File GM 13035) (see press release date February 15, 2011). All Historical Mineral Resources outlined in the text are non-compliant to NI 43-101 Mineral Resources and Mineral Reserves standards, and should therefore not be relied upon. A Qualified Person has not done sufficient work to upgrade or classify these Historical Mineral Resources as current NI 43-101 compliant Mineral resources. The current Mineral Resource estimates were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.
The technical information in this news release was prepared, revised and approved by Jeff Hussey P.Geo., Executive VP Development a Qualified Person under NI 43-101 standards.
Please visit Champion's website at www.championminerals.com.
Statements made in this news release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statements.
Champion Minerals Awards Two Railway Infrastructure Studies to Rail Cantech Inc. and Stantec Consulting
TORONTO, ONTARIO--(Marketwire - April 18, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to announce that contracts for two railway studies have been awarded to determine rail options for the Fire Lake North ("FLN") Project. These studies will clarify existing options for rail and port infrastructure associated with the updated FLN Preliminary Economic Assessment ("PEA") scoping study scheduled for release in the third quarter of 2011. The studies will be utilized to define the best rail infrastructure option and scope of work for the Feasibility Study that is scheduled for delivery during the second quarter of 2012.
In the initial November 2010 PEA, the cost of a 62 km railway to connect to the Bloom Lake Railway ("BLR") was included in the project study. This was the lowest capital expenditure solution of several options being considered for connecting to the Quebec North Shore and Labrador ("QNS&L") railway. The FLN railway infrastructure study has been awarded to Rail Cantech Inc., a full service railway provider that constructed the BLR in 2010. Rail Cantech will compare each option and determine the optimal scenario for Champion's FLN Project.
A second study was also awarded to Stantec Consulting to determine the capacity of the QNS&L railway that connects to the Port of Sept Isles. Due to increasing demand for rail access associated with the growing Canadian iron ore industry, this study will also help to determine the optimal railway infrastructure solution for the Company.
Tom Larsen, President and CEO stated, "This study will enable the Company to identify the best railway option for the FLN Project. We have retained Rail Cantech who constructed the Bloom Lake Railway in 2010 and their expertise will be utilized by Champion in the ongoing PEA Update study that will define the scope of work for the 2012 Feasibility studies on FLN."
The Fermont Iron Holdings
Champion's Fermont Property Holdings comprise seventeen Properties. Three of the seventeen Projects drilled by Champion to-date, namely Fire Lake North, Bellechasse and Harvey-Tuttle, contain current combined National Instrument 43-101 compliant Inferred Mineral Resources totaling 1.55 Billion Tonnes grading 25.4 % Total Iron at a 15% cut-off. Seven other Properties contain combined Historical Mineral Resource Estimates* totaling 613 MT grading 31% Total Iron.
A fully-funded, 60,000 m diamond-drilling program is underway and is designed to outline the resource base for eight Projects within conveying distance of the Fire Lake North Project in Cluster 2, together with ongoing drilling on the Lac Moire Project, which is adjacent to the east of ArcelorMittal's Mont Wright Mine.
About Champion Minerals Inc.
Champion Minerals is an exploration and development company focused on discovering and developing significant iron ore resources in the provinces of Quebec and Newfoundland & Labrador. The Company's projects include the Fermont Property Holdings in Quebec, jointly held by Champion, with an 82.5% interest and Fancamp Exploration Ltd., holding a 17.5% interest, the Attikamagen Iron Property in Quebec and Labrador, and the Powderhorn / Gullbridge base-metal Projects in central Newfoundland.
*Historical Mineral Resources* are from Paquet, 1963 (MRNFQ Assessment File GM 13035) (see press release date February 15, 2011). All Historical Mineral Resources outlined in the text are non-compliant to NI 43-101 Mineral Resources and Mineral Reserves standards, and should therefore not be relied upon. A Qualified Person has not done sufficient work to upgrade or classify these Historical Mineral Resources as current NI 43-101 compliant Mineral resources. The current Mineral Resource estimates were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.
The technical information in this news release was prepared, revised and approved by Jeff Hussey P.Geo., Executive VP Development a Qualified Person under NI 43-101 standards.
Please visit Champion's website at www.championminerals.com.
Statements made in this news release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statements.
Champion Minerals to Present at Upcoming Iron Ore Symposium at the CIM Conference and Exhibition 2011 in Montreal, Canada
May 9, 2011 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 05/09/11 -- Champion Minerals Inc. ("Champion Minerals" or the "Company") (TSX:CHM)(FRANKFURT:P02) today announced that Jeff Hussey, Executive Vice President, Development will be presenting at the Iron Ore Symposium to be held in conjunction with the CIM Conference and Exhibition in Montreal, Canada. The presentation will take place on Monday, May 23, 2011 at 3:40 p.m. (eastern time) at the Palais des congres de Montreal (Room 516C). The session titled "Building the next major iron ore mine in the Labrador trough" will provide an overview of Champion Minerals' Fire Lake North Project and its other Fermont Property Holdings, and will discuss the development activities currently underway. A copy of the presentation will be made available on Champion Minerals' website at www.championminerals.com.
Champion Minerals is currently executing a 60,000-metre drill program at the Fermont iron projects located in the Labrador Trough, Quebec, which include the Fire Lake North Bellechasse and Harvey Tuttle projects, with combined NI 43-101 compliant Inferred Mineral Resources totalling 1.5 billion tonnes grading 24.5% Total Iron at a 15% cut-off. The primary objective of 2011 drill program is to expand and upgrade the current resource base at the Fire Lake North and Bellechasse projects, which will be used to revise the November 2010 preliminary economic assessment (PEA). The Company expects to release the updated PEA in the third quarter 2011, followed by a feasibility study in second quarter 2012.
May 9, 2011 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 05/09/11 -- Champion Minerals Inc. ("Champion Minerals" or the "Company") (TSX:CHM)(FRANKFURT:P02) today announced that Jeff Hussey, Executive Vice President, Development will be presenting at the Iron Ore Symposium to be held in conjunction with the CIM Conference and Exhibition in Montreal, Canada. The presentation will take place on Monday, May 23, 2011 at 3:40 p.m. (eastern time) at the Palais des congres de Montreal (Room 516C). The session titled "Building the next major iron ore mine in the Labrador trough" will provide an overview of Champion Minerals' Fire Lake North Project and its other Fermont Property Holdings, and will discuss the development activities currently underway. A copy of the presentation will be made available on Champion Minerals' website at www.championminerals.com.
Champion Minerals is currently executing a 60,000-metre drill program at the Fermont iron projects located in the Labrador Trough, Quebec, which include the Fire Lake North Bellechasse and Harvey Tuttle projects, with combined NI 43-101 compliant Inferred Mineral Resources totalling 1.5 billion tonnes grading 24.5% Total Iron at a 15% cut-off. The primary objective of 2011 drill program is to expand and upgrade the current resource base at the Fire Lake North and Bellechasse projects, which will be used to revise the November 2010 preliminary economic assessment (PEA). The Company expects to release the updated PEA in the third quarter 2011, followed by a feasibility study in second quarter 2012.
Management: http://www.championminerals.com/page-executives.html
Directors: http://www.championminerals.com/page-board_of_directors.html
Share Structure: http://www.championminerals.com/page-shareholder.html
Financials: http://www.championminerals.com/?id=27
Projects: http://www.championminerals.com/page-project_overview.html
Presentation: http://www.championminerals.com/docs/CHM_Presentation_April25_2011.pdf
Directors: http://www.championminerals.com/page-board_of_directors.html
Share Structure: http://www.championminerals.com/page-shareholder.html
Financials: http://www.championminerals.com/?id=27
Projects: http://www.championminerals.com/page-project_overview.html
Presentation: http://www.championminerals.com/docs/CHM_Presentation_April25_2011.pdf
May 19, 2011 07:30 ET
Champion Minerals Drilling at Lac Moire Property Identifies Significant New Iron Mineralization
TORONTO, ONTARIO--(Marketwire - May 19, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) -
New zone of iron mineralization discovered with drillhole LM11-04 intersecting 130.2 m grading 30.5% Total Iron and drillhole LM11-05 intersecting 133.5 m grading 28.9% Total Iron.
Twin drillhole LM11-01 intersects 154.1 m grading 30.7% Total Iron which confirms the result from historic drillhole QE43 of 154.2 m grading 29.9% Total Iron2.
2011 Lac Moire drill program increased to 7,000 m with the aim to validate and expand upon Historic Mineral Resources1 of 101.6 million tonnes grading 30.8% Iron using re-interpreted geological model.
CHAMPION MINERALS INC. ("Champion" or the "Company") is pleased to announce assay results from the first five drill holes completed at the Lac Moire Project, one of seventeen properties in the Company's Fermont Property Holdings in northeastern Quebec. The Lac Moire Project is located 4 km southwest of the town of Fermont (Quebec), adjoining the east property boundary of ArcelorMittal's Mt. Wright Mine and Concentrator operations. The project hosts the Moire Lake Iron Occurrence (MRNFQ Deposit File 23B14-0014). Explored in the 1950's and again in the mid 1970's, the occurrence hosts Historic Mineral Resources1 of 101.6 million tonnes grading 30.8% Iron (MRNFQ Assessment File GM13035, 1963).
A summary of drillhole intersections and assay results is provided in the following table:
.
.
.
http://www.marketwire.com/press-release/champion-minerals-drilling-lac-moire-property-identifies-significant-new-iron-mineralization-tsx-chm-1516662.htm
Champion Minerals Drilling at Lac Moire Property Identifies Significant New Iron Mineralization
TORONTO, ONTARIO--(Marketwire - May 19, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) -
New zone of iron mineralization discovered with drillhole LM11-04 intersecting 130.2 m grading 30.5% Total Iron and drillhole LM11-05 intersecting 133.5 m grading 28.9% Total Iron.
Twin drillhole LM11-01 intersects 154.1 m grading 30.7% Total Iron which confirms the result from historic drillhole QE43 of 154.2 m grading 29.9% Total Iron2.
2011 Lac Moire drill program increased to 7,000 m with the aim to validate and expand upon Historic Mineral Resources1 of 101.6 million tonnes grading 30.8% Iron using re-interpreted geological model.
CHAMPION MINERALS INC. ("Champion" or the "Company") is pleased to announce assay results from the first five drill holes completed at the Lac Moire Project, one of seventeen properties in the Company's Fermont Property Holdings in northeastern Quebec. The Lac Moire Project is located 4 km southwest of the town of Fermont (Quebec), adjoining the east property boundary of ArcelorMittal's Mt. Wright Mine and Concentrator operations. The project hosts the Moire Lake Iron Occurrence (MRNFQ Deposit File 23B14-0014). Explored in the 1950's and again in the mid 1970's, the occurrence hosts Historic Mineral Resources1 of 101.6 million tonnes grading 30.8% Iron (MRNFQ Assessment File GM13035, 1963).
A summary of drillhole intersections and assay results is provided in the following table:
.
.
.
http://www.marketwire.com/press-release/champion-minerals-drilling-lac-moire-property-identifies-significant-new-iron-mineralization-tsx-chm-1516662.htm
June 09, 2011 07:30 ET
Champion Minerals Continues to Delineate High-Grade and Coarse-Grained, Specular Hematite-Rich Mineralization at Fire Lake North
TORONTO, ONTARIO--(Marketwire - June 9, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to announce assay results recently received for diamond-drill holes completed at the Fire Lake North Project.
Highlights of assay results from eight new holes are detailed in Table 1. Three of the holes were drilled in the area of the proposed West Limb Open Pit, one hole was drilled in the vicinity of the proposed East Limb Open Pit, and four of the holes were drilled in the Don Lake area.
Table 1. Significant Results from Recent Diamond-Drilling at the Fire Lake North Project
Area HOLE-ID AZIMUTH DIP TOTAL
DEPTH FROM TO INTERVAL Fe_Total
metres metres metres metres Fe%
West Limb FLN11-50 270 -50 264 110.15 230.30 120.15 30.97
FLN11-52 270 -70 217 9.00 79.93 70.93 38.33
FLN11-54 270 -50 464 226.43 274.12 47.69 38.10
and 387.63 440.97 53.34 24.95
East Limb FLN11-55 50 -45 455 245.31 322.00 76.69 29.47
includes 249.77 321.00 71.23 31.51
and 375.06 455.00 79.94 7.18
DonLake DL11-11 210 -50 179 131.00 178.94 47.94 4.29
DL11-12 235 -65 329 187.40 245.36 57.96 10.92
includes 217.77 245.36 27.59 18.81
DL11-13 210 -65 451 228.40 321.43 93.03 13.95
includes 288.61 321.43 32.82 31.01
and 404.50 423.00 18.50 31.48
DL11-14 210 -45 394 215.83 246.61 30.78 31.26
and 320.58 354.32 33.74 23.54
Intervals are down-hole core lengths and not true widths.
FLN11-51 and FLN11-53 results were reported in the Company's Press Release dated April 14, 2011.
The definition drilling at both the East Limb and West Limb designed pit areas continues to intersect high-grade, coarse-grained, specular hematite-rich mineralization. At the West Limb designed pit area, drillhole FLN11-52 intersected 70.9 m grading 38.3% Total Iron (FeT) on section 8100N (see Figure 1). Drillhole FLN11-50 intersected 120.2 m grading 31.0% FeT on section 8300N and is interpreted to have passed through the fold hinge of an east-dipping synform (see Figure 2). Drillhole FLN11-54 intersected 47.7 m grading 38.1% FeT in the upper limb and 53.3 m grading 25.0% FeT in the lower limb on section 8700N of the same synform (see Figure 3).
The interpreted sections of the West Limb designed pit area (Figures 1, 2 and 3) show a trace line of the current designed pit from the November 2010 NI 43-101 Mineral Resource Estimate and Preliminary Economic Assessment ("PEA") report. As the sections demonstrate, the re-interpreted fold geometry generated from the results of the 2010-11 definition drilling will require the final pit design to be significantly modified. The new pit design will likely significantly increase current in-pit resources and reduce strip ratios, which in turn will positively impact the Project Economics that are expected in the forthcoming PEA update, scheduled for completion by the end of Q3-2011.
At the East Limb designed pit area, drillhole FLN11-55 intersected 76.7 m of coarse-grained, specular hematite-rich iron formation grading 29.5% FeT, which includes an interval of 71.2 m grading 31.5% FeT, in the upper limb of the synform. Further down-hole, 79.9 m of lean iron formation grading 7.2% FeT was encountered; however, the hole was lost, due to bad ground conditions. The last sample in the drillhole grades 34.4% FeT over 3.0 m suggesting the hole was just entering the lower limb of the specular hematite-rich iron formation when the hole was lost.
Drilling at the Don Lake area is complete, with 16 holes having been drilled during 2011. Assay results are pending for drillholes DL11-15 to DL11-20 (inclusive) and geological modelling of the Don Lake zone is in progress. Drilling in the Don Lake area was designed to outline additional iron resources with the objective of establishing a third potential open pit on the Fire Lake North Property.
In Q4-2010, Champion initiated a proposed 17,500 m program of infill and extensional definition drilling at Fire Lake North, following positive results published in the November 2010 NI 43-101 Mineral Resource Estimate and PEA report. By 2010 year end, 5,500 m of drilling had been completed and the proposed program was increased to 20,000 m. As of the end of May, 2011 a total of 16,660 m had been drilled at Fire Lake North and the total proposed program was increased to 23,000 m. The additional metres of drilling were required to delimit the maximum resources and favourable fold geometry of the mineralization for open pit mine design.
When all drilling is completed and assay results are available, Champion will update its current Inferred Mineral Resource Estimate, calculated at 388 Million Tonnes (MT) grading 28.9% FeT in November 2010 and the PEA of the Project. The PEA update will evaluate integrating the resources both at the Don Lake area, which were not previously included, and the Inferred Mineral Resources at the Bellechasse Project, which are currently estimated at 215 MT grading 28.7% Fe. The Bellechasse Project is located 5 km northwest of the Fire Lake North Property.
The Fermont Iron Holdings
Champion's Fermont Property Holdings are comprised of seventeen properties, three of which - Fire Lake North, Bellechasse and Harvey-Tuttle - currently contain combined NI 43-101 compliant Inferred Mineral Resources totalling 1.55 Billion Tonnes grading 25.4 % Total Iron at a 15% cut-off. The Company recently announced positive results from drilling at the Lac Moire Project, adjacent to the east of ArcelorMittal's Mont Wright Mine property. A Mineral Resource estimate is scheduled for the Lac Moire Project in Q3-2011. Seven of the remaining fourteen properties contain combined Historical Mineral Resource Estimates* totalling 620 MT grading 31% Total Iron.
An ongoing, fully-funded, 60,000+ m diamond-drilling program is scheduled for nine of Champion's Fermont properties in 2011.
About Champion Minerals Inc.
Champion Minerals is an exploration and development company focused on discovering and developing significant iron ore resources in eastern Canada, particularly in the provinces of Quebec and Newfoundland & Labrador. The Company's projects include: the Fermont Property Holdings in Quebec, jointly held by Champion (82.5% interest) and Fancamp Exploration Ltd. (17.5% interest); the Attikamagen Iron Property in Quebec and Labrador, and; the Powderhorn / Gullbridge base-metal Projects in central Newfoundland.
* Historical Mineral Resources* are from Paquet, 1963 (MRNFQ Assessment File GM 13035) (see press release date February 15, 2011). All Historical Mineral Resources outlined in the text are non-compliant to NI 43-101 Mineral Resources and Mineral Reserves standards, and should therefore not be relied upon. A Qualified Person has not done sufficient work to upgrade or classify these Historical Mineral Resources as current NI 43-101 compliant Mineral resources. The current Mineral Resource estimates were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.
The technical information in this news release was reviewed and approved by Jeff Hussey, P. Geo., Executive VP Development of the Company and a Qualified Person under NI 43-101 standards.
Please visit Champion's website at www.championminerals.com.
Statements made in this news release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statements.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/chm_fig1.pdf
To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/chm_fig2.pdf
To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/chm_fig3.pdf
http://www.marketwire.com/press-release/champion-minerals-continues-delineate-high-grade-coarse-grained-specular-hematite-rich-tsx-chm-1524720.htm
Champion Minerals Continues to Delineate High-Grade and Coarse-Grained, Specular Hematite-Rich Mineralization at Fire Lake North
TORONTO, ONTARIO--(Marketwire - June 9, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to announce assay results recently received for diamond-drill holes completed at the Fire Lake North Project.
Highlights of assay results from eight new holes are detailed in Table 1. Three of the holes were drilled in the area of the proposed West Limb Open Pit, one hole was drilled in the vicinity of the proposed East Limb Open Pit, and four of the holes were drilled in the Don Lake area.
Table 1. Significant Results from Recent Diamond-Drilling at the Fire Lake North Project
Area HOLE-ID AZIMUTH DIP TOTAL
DEPTH FROM TO INTERVAL Fe_Total
metres metres metres metres Fe%
West Limb FLN11-50 270 -50 264 110.15 230.30 120.15 30.97
FLN11-52 270 -70 217 9.00 79.93 70.93 38.33
FLN11-54 270 -50 464 226.43 274.12 47.69 38.10
and 387.63 440.97 53.34 24.95
East Limb FLN11-55 50 -45 455 245.31 322.00 76.69 29.47
includes 249.77 321.00 71.23 31.51
and 375.06 455.00 79.94 7.18
DonLake DL11-11 210 -50 179 131.00 178.94 47.94 4.29
DL11-12 235 -65 329 187.40 245.36 57.96 10.92
includes 217.77 245.36 27.59 18.81
DL11-13 210 -65 451 228.40 321.43 93.03 13.95
includes 288.61 321.43 32.82 31.01
and 404.50 423.00 18.50 31.48
DL11-14 210 -45 394 215.83 246.61 30.78 31.26
and 320.58 354.32 33.74 23.54
Intervals are down-hole core lengths and not true widths.
FLN11-51 and FLN11-53 results were reported in the Company's Press Release dated April 14, 2011.
The definition drilling at both the East Limb and West Limb designed pit areas continues to intersect high-grade, coarse-grained, specular hematite-rich mineralization. At the West Limb designed pit area, drillhole FLN11-52 intersected 70.9 m grading 38.3% Total Iron (FeT) on section 8100N (see Figure 1). Drillhole FLN11-50 intersected 120.2 m grading 31.0% FeT on section 8300N and is interpreted to have passed through the fold hinge of an east-dipping synform (see Figure 2). Drillhole FLN11-54 intersected 47.7 m grading 38.1% FeT in the upper limb and 53.3 m grading 25.0% FeT in the lower limb on section 8700N of the same synform (see Figure 3).
The interpreted sections of the West Limb designed pit area (Figures 1, 2 and 3) show a trace line of the current designed pit from the November 2010 NI 43-101 Mineral Resource Estimate and Preliminary Economic Assessment ("PEA") report. As the sections demonstrate, the re-interpreted fold geometry generated from the results of the 2010-11 definition drilling will require the final pit design to be significantly modified. The new pit design will likely significantly increase current in-pit resources and reduce strip ratios, which in turn will positively impact the Project Economics that are expected in the forthcoming PEA update, scheduled for completion by the end of Q3-2011.
At the East Limb designed pit area, drillhole FLN11-55 intersected 76.7 m of coarse-grained, specular hematite-rich iron formation grading 29.5% FeT, which includes an interval of 71.2 m grading 31.5% FeT, in the upper limb of the synform. Further down-hole, 79.9 m of lean iron formation grading 7.2% FeT was encountered; however, the hole was lost, due to bad ground conditions. The last sample in the drillhole grades 34.4% FeT over 3.0 m suggesting the hole was just entering the lower limb of the specular hematite-rich iron formation when the hole was lost.
Drilling at the Don Lake area is complete, with 16 holes having been drilled during 2011. Assay results are pending for drillholes DL11-15 to DL11-20 (inclusive) and geological modelling of the Don Lake zone is in progress. Drilling in the Don Lake area was designed to outline additional iron resources with the objective of establishing a third potential open pit on the Fire Lake North Property.
In Q4-2010, Champion initiated a proposed 17,500 m program of infill and extensional definition drilling at Fire Lake North, following positive results published in the November 2010 NI 43-101 Mineral Resource Estimate and PEA report. By 2010 year end, 5,500 m of drilling had been completed and the proposed program was increased to 20,000 m. As of the end of May, 2011 a total of 16,660 m had been drilled at Fire Lake North and the total proposed program was increased to 23,000 m. The additional metres of drilling were required to delimit the maximum resources and favourable fold geometry of the mineralization for open pit mine design.
When all drilling is completed and assay results are available, Champion will update its current Inferred Mineral Resource Estimate, calculated at 388 Million Tonnes (MT) grading 28.9% FeT in November 2010 and the PEA of the Project. The PEA update will evaluate integrating the resources both at the Don Lake area, which were not previously included, and the Inferred Mineral Resources at the Bellechasse Project, which are currently estimated at 215 MT grading 28.7% Fe. The Bellechasse Project is located 5 km northwest of the Fire Lake North Property.
The Fermont Iron Holdings
Champion's Fermont Property Holdings are comprised of seventeen properties, three of which - Fire Lake North, Bellechasse and Harvey-Tuttle - currently contain combined NI 43-101 compliant Inferred Mineral Resources totalling 1.55 Billion Tonnes grading 25.4 % Total Iron at a 15% cut-off. The Company recently announced positive results from drilling at the Lac Moire Project, adjacent to the east of ArcelorMittal's Mont Wright Mine property. A Mineral Resource estimate is scheduled for the Lac Moire Project in Q3-2011. Seven of the remaining fourteen properties contain combined Historical Mineral Resource Estimates* totalling 620 MT grading 31% Total Iron.
An ongoing, fully-funded, 60,000+ m diamond-drilling program is scheduled for nine of Champion's Fermont properties in 2011.
About Champion Minerals Inc.
Champion Minerals is an exploration and development company focused on discovering and developing significant iron ore resources in eastern Canada, particularly in the provinces of Quebec and Newfoundland & Labrador. The Company's projects include: the Fermont Property Holdings in Quebec, jointly held by Champion (82.5% interest) and Fancamp Exploration Ltd. (17.5% interest); the Attikamagen Iron Property in Quebec and Labrador, and; the Powderhorn / Gullbridge base-metal Projects in central Newfoundland.
* Historical Mineral Resources* are from Paquet, 1963 (MRNFQ Assessment File GM 13035) (see press release date February 15, 2011). All Historical Mineral Resources outlined in the text are non-compliant to NI 43-101 Mineral Resources and Mineral Reserves standards, and should therefore not be relied upon. A Qualified Person has not done sufficient work to upgrade or classify these Historical Mineral Resources as current NI 43-101 compliant Mineral resources. The current Mineral Resource estimates were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.
The technical information in this news release was reviewed and approved by Jeff Hussey, P. Geo., Executive VP Development of the Company and a Qualified Person under NI 43-101 standards.
Please visit Champion's website at www.championminerals.com.
Statements made in this news release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statements.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/chm_fig1.pdf
To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/chm_fig2.pdf
To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/chm_fig3.pdf
http://www.marketwire.com/press-release/champion-minerals-continues-delineate-high-grade-coarse-grained-specular-hematite-rich-tsx-chm-1524720.htm
Champion Minerals to Present at RBC Capital Markets' 2011 Global Mining and Materials Conference in Toronto, Canada
Jun. 13, 2011 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 06/13/11 -- Champion Minerals Inc. ("Champion Minerals" or the "Company") (TSX:CHM)(FRANKFURT:P02) today announced that the Company will be presenting at RBC Capital Markets' 2011 Global Mining and Materials Conference on Tuesday, June 21, 2011 at 3:50 p.m. eastern time. This presentation will be part of an iron ore panel to be held in Toronto, Ontario at the Le Meridien King Edward Hotel (Vanity Fair Ballroom). A copy of the presentation will be made available to all investors on Champion Minerals' website at www.championminerals.com.
Champion Minerals is currently executing a 60,000-metre drill program at the Fermont iron projects located in the Labrador Trough, Quebec, which include the Fire Lake North, Bellechasse and Harvey-Tuttle projects, which contain combined NI 43-101 compliant Inferred Mineral Resources totalling 1.55 billion tonnes grading 24.5% Total Iron at a 15% cut-off. The primary objective of 2011 drill program is to expand and upgrade the current resource base at the Fire Lake North and Bellechasse projects, which will be used to revise the November 2010 preliminary economic assessment (PEA). The Company expects to release the updated PEA in the third quarter 2011, followed by a feasibility study in the second quarter 2012.
Jun. 13, 2011 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 06/13/11 -- Champion Minerals Inc. ("Champion Minerals" or the "Company") (TSX:CHM)(FRANKFURT:P02) today announced that the Company will be presenting at RBC Capital Markets' 2011 Global Mining and Materials Conference on Tuesday, June 21, 2011 at 3:50 p.m. eastern time. This presentation will be part of an iron ore panel to be held in Toronto, Ontario at the Le Meridien King Edward Hotel (Vanity Fair Ballroom). A copy of the presentation will be made available to all investors on Champion Minerals' website at www.championminerals.com.
Champion Minerals is currently executing a 60,000-metre drill program at the Fermont iron projects located in the Labrador Trough, Quebec, which include the Fire Lake North, Bellechasse and Harvey-Tuttle projects, which contain combined NI 43-101 compliant Inferred Mineral Resources totalling 1.55 billion tonnes grading 24.5% Total Iron at a 15% cut-off. The primary objective of 2011 drill program is to expand and upgrade the current resource base at the Fire Lake North and Bellechasse projects, which will be used to revise the November 2010 preliminary economic assessment (PEA). The Company expects to release the updated PEA in the third quarter 2011, followed by a feasibility study in the second quarter 2012.
16.06.2011 / 13:30
---------------------------------------------------------------------
Champion Minerals beschleunigt Bohrprogramm in Fermont
- 3 zusätzliche Bohrer sollen Bohrprogramm mit 10.000 m für das Projekt
O'Keefe-Purdy Anfang Juli aufnehmen
- Bis zum Ende des Jahres werden insgesamt 9 Bohrer 60.000+ Meter an
geplanten Bohrarbeiten auf den Fermont-Liegenschaften fertigstellen.
Toronto (Kanada), 16. Juni 2011 - CHAMPION MINERALS INC. (TSX: CHM; FSE:
P02) ('Champion' oder das 'Unternehmen') freut sich, ankündigen zu können,
dass man sich 3 Diamantkopfbohrgeräte von Major Drilling Inc. sichern
konnte, die Anfang Juli zur Verfügung gestellt werden sollen, und erhöht
damit die Gesamtanzahl an Bohrern, die auf den verschiedenen Beteiligungen
von Champion in Fermont im Einsatz sind, auf neun (9). Es wird erwartet,
dass alle Bohrer bis zum Ende des Jahres im Einsatz sein werden.
Die Bohrarbeiten am Vorzeigeprojekt des Unternehmens Fire Lake North werden
mit vier Bohrern weitergeführt, die daran arbeiten, Ressourcen (ohne das
Original zu kennen, gehe ich davon aus, dass es sich hier um 'Ressourcen'
handelt, nicht allgemein Rohstoffe) in den vorgeschlagenen Tagebaubereichen
East Limb und West Limb abzugrenzen. Seit der letzten Schätzung bzgl. der
Rohstoffvorkommen vom August 2010 wurden beinahe 19.000 m an Bohrarbeiten
fertiggestellt und es verbleiben ungefähr 4.000 m für die Phase der
Bohrarbeiten, deren Abschluss innerhalb der nächsten 30 Tage erwartet wird.
Das Bohrprogramm wurde gegenüber den ursprünglich vorgeschlagenen 17.500 m
durch die erfolgreiche Erkundung insgesamt auf einen Wert von 23.000 m
gesteigert, so dass aktuell zusätzliche Nachfolgebohrarbeiten erforderlich
sind, um das ganze Ausmaß der Mineralisierung bestimmen zu können, um die
Ressourcen vollständig abzugrenzen und zu steigern. Nach Erhalt der
abschließenden Bewertungsergebnisse wird Champion eine Aktualisierung der
aktuellen geschlussfolgerten Schätzung der Ressourcen einleiten, die mit
388 Millionen Tonnen (MT) mit 28,9 % Gesamtgehalt an Eisen ('FeT')
beziffert wird, gefolgt von einer Aktualisierung der vorläufigen
wirtschaftlichen Bewertung für Fire Lake North, die im November 2010
abgeschlossen wurde. Die vorläufige wirtschaftliche Bewertung wird für das
Ende des 3. Quartals erwartet.
Die beiden Bohrer, die aktuell im Rahmen des Projektes Moire Lake des
Unternehmens eingesetzt werden, werden zur Bewertung und Erweiterung der
aktuellen Schätzung im Zusammenhang mit den historischen Ressourcen* von
102 Millionen Tonnen mit 31 % Gehalt an FeT für das Vorkommen im Moire Lake
verwendet (MRNFQ Bewertungsakte GM13035, 1963). Die Liegenschaft Moire Lake
befindet sich 4 km südwestlich der Stadt Fermont (Quebec) und grenzt an die
östliche Liegenschaftsgrenze der Mount Wright Mine und der
Verdichteraktivitäten von ArcelorMittal an.
Die drei zusätzlichen Bohrer, die im Juli geliefert werden sollen, werden
im Rahmen des Projektes O'Keefe-Purdy eingesetzt, um die aktuelle Schätzung
im Zusammenhang mit den historischen Ressourcen* von 51 Millionen Tonnen
mit 37 % Gehalt an FeT für das Eisenvorkommen im O'Keefe Lake zu bewerten
und möglicherweise zu erweitern (MRNFQ Bewertungsakte GM31090, 1975).
Insgesamt sind Bohrarbeiten mit einem Umfang von 10.000 m für das Projekt
O'Keefe-Purdy geplant und die Arbeiten umfassen Bewertungs- und
Erweiterungsbohrungen für das Eisenvorkommen im O'Keefe Lake am westlichen
Ende des Projektes. Darüber hinaus werden die Bohrungen den relativ
ungeprüften 19 Kilometer langen Streifen der Eisenformation erkunden, der
sich über das Projekt erstreckt.
Das Projekt O'Keefe-Purdy besteht aus 182 Claims, die eine Fläche von 95,3
km² nördlich des Projektes Harvey-Tuttle abdecken und an die nördliche
Grenze des Projektes Bellechasse angrenzen. Die Mineralisierung des
Eisenvorkommens im O'Keefe Lake wurde ursprünglich im Jahre 1957 entdeckt
und zeichnet sich durch eine grobkörnige Struktur aus, die reich an
glänzendem Hämatit ist und wenig Magnetit enthält (MRNFQ Ablagerungsakte
23B12-0003).
Vier grobkörnige Baggerproben mit viel glänzendem Hämatit wurden im Jahre
2010 seitens Champion von vererztem Festgestein sehr nahe am
Eisenvorkommen im O'Keefe Lake entnommen und ergaben Konzentrationen
zwischen 22,9 % und 35,5 % FeT (siehe Pressemitteilung von Champion vom 15.
Dezember 2010).
Die Eisenbeteiligungen in Fermont
Die Beteiligungen von Champion in Fermont umfassen siebzehn Liegenschaften,
von denen drei - Fire Lake North, Bellechasse und Harvey-Tuttle - aktuell
zusammen geschlussfolgerte Rohstoffvorkommen in Übereinstimmung mit den
Standards NI 43-101 von insgesamt 1,55 Milliarden Tonnen mit 25,4 % Gehalt
an FeT bei einer Trennung von 15 % enthalten. Das Unternehmen hat darüber
hinaus vor kurzen positive Ergebnisse von den Bohrungen für das Projekt
Moire Lake* bekanntgegeben (19. Mai 2011), das an die Ostseite der
Liegenschaft der Mont Wright Mine von ArcelorMittal angrenzt. Eine
Abschätzung der Rohstoffvorkommen für das Projekt Moire Lake* wird für das
3. Quartal 2011 angesetzt. Sieben der übrigen vierzehn Liegenschaften
enthalten kombinierte Schätzungen im Zusammenhang mit historischen
Rohstoffvorkommen* von insgesamt 620 MT mit 31 % Gehalt an FeT.
Ein fortlaufendes, komplett finanziertes Bohrprogramm mit Diamantbohrköpfen
und einem Umfang von 60.000+ m ist für acht der Projekte von Champion in
Fermont für das Jahr 2011 vorgesehen.
Neuigkeiten zum Unternehmen
Champion freut sich, die vor kurzem erfolgte Ernennung von Chrystal
Kennedy, P. Geo. zur Explorationsleiterin für das Unternehmen ankündigen zu
können. Frau Kennedy ist eine qualifizierte fachmännische
Geowissenschaftlerin mit mehr als 14 Jahren Erfahrung im Bereich der
Rohstofferkundung, sowie in den Bereichen Geotechnologie, Umwelt, und
Wasserstofferkundung. Da Champion weiterhin zusätzliche Bohrer auf den
Liegenschaften in Fermont einsetzt, wird die Hauptaufgabe von Frau Kennedy
darin bestehen, die Entwicklung und Leitung des Erkundungsprojektes und die
Koordination der Logistik vor Ort zu unterstützen und die
Qualitätssicherung der Aktivitäten vor Ort aufrechtzuerhalten.
---------------------------------------------------------------------
Champion Minerals beschleunigt Bohrprogramm in Fermont
- 3 zusätzliche Bohrer sollen Bohrprogramm mit 10.000 m für das Projekt
O'Keefe-Purdy Anfang Juli aufnehmen
- Bis zum Ende des Jahres werden insgesamt 9 Bohrer 60.000+ Meter an
geplanten Bohrarbeiten auf den Fermont-Liegenschaften fertigstellen.
Toronto (Kanada), 16. Juni 2011 - CHAMPION MINERALS INC. (TSX: CHM; FSE:
P02) ('Champion' oder das 'Unternehmen') freut sich, ankündigen zu können,
dass man sich 3 Diamantkopfbohrgeräte von Major Drilling Inc. sichern
konnte, die Anfang Juli zur Verfügung gestellt werden sollen, und erhöht
damit die Gesamtanzahl an Bohrern, die auf den verschiedenen Beteiligungen
von Champion in Fermont im Einsatz sind, auf neun (9). Es wird erwartet,
dass alle Bohrer bis zum Ende des Jahres im Einsatz sein werden.
Die Bohrarbeiten am Vorzeigeprojekt des Unternehmens Fire Lake North werden
mit vier Bohrern weitergeführt, die daran arbeiten, Ressourcen (ohne das
Original zu kennen, gehe ich davon aus, dass es sich hier um 'Ressourcen'
handelt, nicht allgemein Rohstoffe) in den vorgeschlagenen Tagebaubereichen
East Limb und West Limb abzugrenzen. Seit der letzten Schätzung bzgl. der
Rohstoffvorkommen vom August 2010 wurden beinahe 19.000 m an Bohrarbeiten
fertiggestellt und es verbleiben ungefähr 4.000 m für die Phase der
Bohrarbeiten, deren Abschluss innerhalb der nächsten 30 Tage erwartet wird.
Das Bohrprogramm wurde gegenüber den ursprünglich vorgeschlagenen 17.500 m
durch die erfolgreiche Erkundung insgesamt auf einen Wert von 23.000 m
gesteigert, so dass aktuell zusätzliche Nachfolgebohrarbeiten erforderlich
sind, um das ganze Ausmaß der Mineralisierung bestimmen zu können, um die
Ressourcen vollständig abzugrenzen und zu steigern. Nach Erhalt der
abschließenden Bewertungsergebnisse wird Champion eine Aktualisierung der
aktuellen geschlussfolgerten Schätzung der Ressourcen einleiten, die mit
388 Millionen Tonnen (MT) mit 28,9 % Gesamtgehalt an Eisen ('FeT')
beziffert wird, gefolgt von einer Aktualisierung der vorläufigen
wirtschaftlichen Bewertung für Fire Lake North, die im November 2010
abgeschlossen wurde. Die vorläufige wirtschaftliche Bewertung wird für das
Ende des 3. Quartals erwartet.
Die beiden Bohrer, die aktuell im Rahmen des Projektes Moire Lake des
Unternehmens eingesetzt werden, werden zur Bewertung und Erweiterung der
aktuellen Schätzung im Zusammenhang mit den historischen Ressourcen* von
102 Millionen Tonnen mit 31 % Gehalt an FeT für das Vorkommen im Moire Lake
verwendet (MRNFQ Bewertungsakte GM13035, 1963). Die Liegenschaft Moire Lake
befindet sich 4 km südwestlich der Stadt Fermont (Quebec) und grenzt an die
östliche Liegenschaftsgrenze der Mount Wright Mine und der
Verdichteraktivitäten von ArcelorMittal an.
Die drei zusätzlichen Bohrer, die im Juli geliefert werden sollen, werden
im Rahmen des Projektes O'Keefe-Purdy eingesetzt, um die aktuelle Schätzung
im Zusammenhang mit den historischen Ressourcen* von 51 Millionen Tonnen
mit 37 % Gehalt an FeT für das Eisenvorkommen im O'Keefe Lake zu bewerten
und möglicherweise zu erweitern (MRNFQ Bewertungsakte GM31090, 1975).
Insgesamt sind Bohrarbeiten mit einem Umfang von 10.000 m für das Projekt
O'Keefe-Purdy geplant und die Arbeiten umfassen Bewertungs- und
Erweiterungsbohrungen für das Eisenvorkommen im O'Keefe Lake am westlichen
Ende des Projektes. Darüber hinaus werden die Bohrungen den relativ
ungeprüften 19 Kilometer langen Streifen der Eisenformation erkunden, der
sich über das Projekt erstreckt.
Das Projekt O'Keefe-Purdy besteht aus 182 Claims, die eine Fläche von 95,3
km² nördlich des Projektes Harvey-Tuttle abdecken und an die nördliche
Grenze des Projektes Bellechasse angrenzen. Die Mineralisierung des
Eisenvorkommens im O'Keefe Lake wurde ursprünglich im Jahre 1957 entdeckt
und zeichnet sich durch eine grobkörnige Struktur aus, die reich an
glänzendem Hämatit ist und wenig Magnetit enthält (MRNFQ Ablagerungsakte
23B12-0003).
Vier grobkörnige Baggerproben mit viel glänzendem Hämatit wurden im Jahre
2010 seitens Champion von vererztem Festgestein sehr nahe am
Eisenvorkommen im O'Keefe Lake entnommen und ergaben Konzentrationen
zwischen 22,9 % und 35,5 % FeT (siehe Pressemitteilung von Champion vom 15.
Dezember 2010).
Die Eisenbeteiligungen in Fermont
Die Beteiligungen von Champion in Fermont umfassen siebzehn Liegenschaften,
von denen drei - Fire Lake North, Bellechasse und Harvey-Tuttle - aktuell
zusammen geschlussfolgerte Rohstoffvorkommen in Übereinstimmung mit den
Standards NI 43-101 von insgesamt 1,55 Milliarden Tonnen mit 25,4 % Gehalt
an FeT bei einer Trennung von 15 % enthalten. Das Unternehmen hat darüber
hinaus vor kurzen positive Ergebnisse von den Bohrungen für das Projekt
Moire Lake* bekanntgegeben (19. Mai 2011), das an die Ostseite der
Liegenschaft der Mont Wright Mine von ArcelorMittal angrenzt. Eine
Abschätzung der Rohstoffvorkommen für das Projekt Moire Lake* wird für das
3. Quartal 2011 angesetzt. Sieben der übrigen vierzehn Liegenschaften
enthalten kombinierte Schätzungen im Zusammenhang mit historischen
Rohstoffvorkommen* von insgesamt 620 MT mit 31 % Gehalt an FeT.
Ein fortlaufendes, komplett finanziertes Bohrprogramm mit Diamantbohrköpfen
und einem Umfang von 60.000+ m ist für acht der Projekte von Champion in
Fermont für das Jahr 2011 vorgesehen.
Neuigkeiten zum Unternehmen
Champion freut sich, die vor kurzem erfolgte Ernennung von Chrystal
Kennedy, P. Geo. zur Explorationsleiterin für das Unternehmen ankündigen zu
können. Frau Kennedy ist eine qualifizierte fachmännische
Geowissenschaftlerin mit mehr als 14 Jahren Erfahrung im Bereich der
Rohstofferkundung, sowie in den Bereichen Geotechnologie, Umwelt, und
Wasserstofferkundung. Da Champion weiterhin zusätzliche Bohrer auf den
Liegenschaften in Fermont einsetzt, wird die Hauptaufgabe von Frau Kennedy
darin bestehen, die Entwicklung und Leitung des Erkundungsprojektes und die
Koordination der Logistik vor Ort zu unterstützen und die
Qualitätssicherung der Aktivitäten vor Ort aufrechtzuerhalten.
Champion Minerals to Present at RBC Capital Markets' 2011 Global Mining and Materials Conference in Toronto, Canada
- The iron ore panel has been rescheduled to 2:05 p.m. on Tuesday, June 21st, 2011
Jun. 20, 2011 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 06/20/11 -- Champion Minerals Inc. ("Champion Minerals" or the "Company" (TSX:CHM)(FRANKFURT:P02) today announced that the Company will be presenting at RBC Capital Markets' 2011 Global Mining and Materials Conference on Tuesday, June 21, 2011 at 2:05 p.m. eastern time. This presentation will be part of an iron ore panel to be held in Toronto, Ontario at the Le Meridien King Edward Hotel (Vanity Fair Ballroom, 2nd Floor). A live audio webcast of the presentation will be made available to all investors on Champion Minerals' website at www.championminerals.com.
Champion Minerals is currently executing a 60,000-metre drill program at the Fermont iron projects located in the Labrador Trough, Quebec, which include the Fire Lake North, Bellechasse and Harvey Tuttle projects, which contain combined NI 43-101 compliant Inferred Mineral Resources totalling 1.55 billion tonnes grading 24.5% Total Iron at a 15% cut-off. The primary objective of 2011 drill program is to expand and upgrade the current resource base at the Fire Lake North and Bellechasse projects, which will be used to revise the November 2010 preliminary economic assessment (PEA). The Company expects to release the updated PEA in the third quarter 2011, followed by a feasibility study in the second quarter 2012.
- The iron ore panel has been rescheduled to 2:05 p.m. on Tuesday, June 21st, 2011
Jun. 20, 2011 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 06/20/11 -- Champion Minerals Inc. ("Champion Minerals" or the "Company" (TSX:CHM)(FRANKFURT:P02) today announced that the Company will be presenting at RBC Capital Markets' 2011 Global Mining and Materials Conference on Tuesday, June 21, 2011 at 2:05 p.m. eastern time. This presentation will be part of an iron ore panel to be held in Toronto, Ontario at the Le Meridien King Edward Hotel (Vanity Fair Ballroom, 2nd Floor). A live audio webcast of the presentation will be made available to all investors on Champion Minerals' website at www.championminerals.com.
Champion Minerals is currently executing a 60,000-metre drill program at the Fermont iron projects located in the Labrador Trough, Quebec, which include the Fire Lake North, Bellechasse and Harvey Tuttle projects, which contain combined NI 43-101 compliant Inferred Mineral Resources totalling 1.55 billion tonnes grading 24.5% Total Iron at a 15% cut-off. The primary objective of 2011 drill program is to expand and upgrade the current resource base at the Fire Lake North and Bellechasse projects, which will be used to revise the November 2010 preliminary economic assessment (PEA). The Company expects to release the updated PEA in the third quarter 2011, followed by a feasibility study in the second quarter 2012.
Champion Minerals Appoints Jean Depatie as Director to the Board
Jun. 21, 2011 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 06/21/11 -- Champion Minerals Inc. (TSX:CHM)(FRANKFURT:P02) is pleased to announce the appointment of Mr. Jean Depatie as independent director to the board, effective immediately.
Mr. Depatie brings over 35 years of national and international experience in economic geology to Champion Minerals Inc. He has worked in several countries and acted, directly or indirectly, as consultant for organizations such as, the United Nations, the World Bank, the Asian Development Bank, the Commonwealth Agency and the Quebec Ministry of Natural Resources. In addition to being a past director of Glamis Gold Ltd. (now Goldcorp) and Novicourt Inc. (now Xstrata), Mr. Depatie was instrumental in the development of Consolidated Thompson Iron Mines Limited ("Consolidated Thompson") through his six year tenure as a director until its recent acquisition by Cliffs Natural Resources. At Consolidated Thompson, Mr. Depatie served as Chair of the Compensation Committee and sat on both the Audit and Corporate Responsibility Committees.
Mr. Depatie has also served as president and/or director to a number of other companies listed on both the U.S. and Canadian exchanges and he is director of the resources division of Greater China Assets Ltd, a Hong Kong-based investment holding company.
Mr. Depatie is a former President of the Quebec Professional Association of Geologists and Geophysicists (1980-81). He was the recipient of an award of excellence, in 1990, from the Quebec Department of Energy and Resources for having financed and put into production the most important graphite mine in North America.
"We are excited to welcome Jean to the board of directors," commented Thomas Larsen, president and chief executive officer of Champion Minerals Inc. "Jean's breadth and depth of experience in the iron ore market will be valuable to our team as we move the Fermont Projects through development to feasibility study level in 2012."
Jun. 21, 2011 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 06/21/11 -- Champion Minerals Inc. (TSX:CHM)(FRANKFURT:P02) is pleased to announce the appointment of Mr. Jean Depatie as independent director to the board, effective immediately.
Mr. Depatie brings over 35 years of national and international experience in economic geology to Champion Minerals Inc. He has worked in several countries and acted, directly or indirectly, as consultant for organizations such as, the United Nations, the World Bank, the Asian Development Bank, the Commonwealth Agency and the Quebec Ministry of Natural Resources. In addition to being a past director of Glamis Gold Ltd. (now Goldcorp) and Novicourt Inc. (now Xstrata), Mr. Depatie was instrumental in the development of Consolidated Thompson Iron Mines Limited ("Consolidated Thompson") through his six year tenure as a director until its recent acquisition by Cliffs Natural Resources. At Consolidated Thompson, Mr. Depatie served as Chair of the Compensation Committee and sat on both the Audit and Corporate Responsibility Committees.
Mr. Depatie has also served as president and/or director to a number of other companies listed on both the U.S. and Canadian exchanges and he is director of the resources division of Greater China Assets Ltd, a Hong Kong-based investment holding company.
Mr. Depatie is a former President of the Quebec Professional Association of Geologists and Geophysicists (1980-81). He was the recipient of an award of excellence, in 1990, from the Quebec Department of Energy and Resources for having financed and put into production the most important graphite mine in North America.
"We are excited to welcome Jean to the board of directors," commented Thomas Larsen, president and chief executive officer of Champion Minerals Inc. "Jean's breadth and depth of experience in the iron ore market will be valuable to our team as we move the Fermont Projects through development to feasibility study level in 2012."
Champion Minerals Inc. Adopts Shareholder Rights Plan
Jun. 30, 2011 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 06/30/11 -- Champion Minerals Inc. ("Champion Minerals" or the "Company") (TSX:CHM)(FRANKFURT:P02) today announced that its board of directors approved the adoption of a shareholder rights plan (the "Rights Plan") which takes effect today. The Rights Plan is similar to plans adopted by other Canadian companies, and has been adopted to ensure the fair treatment of shareholders in the event of any take-over bid for Champion Minerals' common shares.
The Rights Plan has conditionally been approved by the Toronto Stock Exchange and although the Rights Plan is effective immediately, it will be submitted to the shareholders of Champion Minerals for ratification and confirmation at the 2011 annual and special meeting, currently scheduled for July 27, 2011.
The primary objectives of the Rights Plan are to provide shareholders of Champion Minerals with adequate time to properly evaluate any offer, and also to provide the board of directors of Champion Minerals with additional time to assess any offer and, if appropriate, to explore and develop alternatives for maximizing shareholder value. The Rights Plan in no way prohibits a change of control of Champion Minerals in a transaction that is procedurally fair to its shareholders.
Thomas Larsen, president and chief executive officer of Champion Minerals said, "The decision to adopt a Rights Plan was not made in response to any specific take-over bid for Champion Minerals, nor is the board of directors aware of any pending, or threatened take-over bid."
The full text of the Rights Plan will be made available on Champion Minerals' website at www.championminerals.com, and will be posted under the Company's filings on the SEDAR website at www.sedar.com.
Jun. 30, 2011 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 06/30/11 -- Champion Minerals Inc. ("Champion Minerals" or the "Company") (TSX:CHM)(FRANKFURT:P02) today announced that its board of directors approved the adoption of a shareholder rights plan (the "Rights Plan") which takes effect today. The Rights Plan is similar to plans adopted by other Canadian companies, and has been adopted to ensure the fair treatment of shareholders in the event of any take-over bid for Champion Minerals' common shares.
The Rights Plan has conditionally been approved by the Toronto Stock Exchange and although the Rights Plan is effective immediately, it will be submitted to the shareholders of Champion Minerals for ratification and confirmation at the 2011 annual and special meeting, currently scheduled for July 27, 2011.
The primary objectives of the Rights Plan are to provide shareholders of Champion Minerals with adequate time to properly evaluate any offer, and also to provide the board of directors of Champion Minerals with additional time to assess any offer and, if appropriate, to explore and develop alternatives for maximizing shareholder value. The Rights Plan in no way prohibits a change of control of Champion Minerals in a transaction that is procedurally fair to its shareholders.
Thomas Larsen, president and chief executive officer of Champion Minerals said, "The decision to adopt a Rights Plan was not made in response to any specific take-over bid for Champion Minerals, nor is the board of directors aware of any pending, or threatened take-over bid."
The full text of the Rights Plan will be made available on Champion Minerals' website at www.championminerals.com, and will be posted under the Company's filings on the SEDAR website at www.sedar.com.
July 06, 2011 08:22 ET
Champion Minerals Announces Up to 139 Metres of 52.8% Total Iron from the Attikamagen Project
TORONTO, ONTARIO--(Marketwire - July 6, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion") is pleased to announce assay results from the Attikamagen Project, which is wholly-owned by Champion and under option to Century Iron Mines Corp. ("Century Iron") and is located in north-eastern Quebec and western Labrador, near the town of Schefferville, Quebec. The 2011 winter drilling program focused on several potential taconite and direct shipping ore ("DSO")(1) targets near Hayot Lake, Quebec and Joyce Lake in western Labrador. Century Iron completed over 2,000 metres of combined diamond and reverse circulation ("RC") drilling and are continuing the current phase of drilling which is expected to be completed by December 2011.
Highlights
2011 RC drilling completed at Joyce Lake encountered a potential DSO target. Drill hole JOY-11-06 intersected 139.0 m grading 52.8% Total Iron ("FeT"), and drill hole JOY-11-07 intersected 91.0 m grading 52.5% FeT, including 42.0 m grading 65.3% FeT.
2011 diamond-drilling at Hayot Lake corroborates results of the Century Iron 2010 drilling, which intersected a taconite iron occurrence. Drill hole HAY-11-10 intersected 108.2 m grading 33.2% FeT. Previously, drill hole HAY-10-06 intersected 92.6 m grading 31.6% FeT.
http://www.marketwire.com/press-rel....oject-tsx-chm-1534955.htm
Champion Minerals Announces Up to 139 Metres of 52.8% Total Iron from the Attikamagen Project
TORONTO, ONTARIO--(Marketwire - July 6, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion") is pleased to announce assay results from the Attikamagen Project, which is wholly-owned by Champion and under option to Century Iron Mines Corp. ("Century Iron") and is located in north-eastern Quebec and western Labrador, near the town of Schefferville, Quebec. The 2011 winter drilling program focused on several potential taconite and direct shipping ore ("DSO")(1) targets near Hayot Lake, Quebec and Joyce Lake in western Labrador. Century Iron completed over 2,000 metres of combined diamond and reverse circulation ("RC") drilling and are continuing the current phase of drilling which is expected to be completed by December 2011.
Highlights
2011 RC drilling completed at Joyce Lake encountered a potential DSO target. Drill hole JOY-11-06 intersected 139.0 m grading 52.8% Total Iron ("FeT"), and drill hole JOY-11-07 intersected 91.0 m grading 52.5% FeT, including 42.0 m grading 65.3% FeT.
2011 diamond-drilling at Hayot Lake corroborates results of the Century Iron 2010 drilling, which intersected a taconite iron occurrence. Drill hole HAY-11-10 intersected 108.2 m grading 33.2% FeT. Previously, drill hole HAY-10-06 intersected 92.6 m grading 31.6% FeT.
http://www.marketwire.com/press-rel....oject-tsx-chm-1534955.htm
Samstag, 09 Juli 2011
Champion Minerals blickt auf erfolgreiches Jahr zurück
Mitte letzten Jahres haben wir Ihnen zum letzten Mal ein Update zu Champion Minerals gegeben. Damals noch eher im Bereich „Early-Stage“anzusiedeln, hat sich seitdem beim kanadischen Eisenerz-Unternehmen einiges getan. Für uns Anlass genug, Ihnen eine chronologische Übersicht über die Ereignisse der vergangenen 11 Monate zu geben und Sie damit auf den aktuellen Stand der Dinge zu bringen.
TSX-Listing als Fingerzeig in die richtige Richtung
Kurz nach unserem letzten Update von August 2010 konnte Champion Minerals einen ersten Meilenstein in Richtung eines angesehenen Bergbau-Unternehmens vermelden. Man wechselte von der TSX-Venture an die Hauptbörse TSX und zeigte damit in welche Richtung es zukünftig gehen sollte: nach oben!
Positive Bohrresultate untermauern Ausnahmestellung
Einhergehend mit dem erfolgreichen Wechsel an das viel stärker beachtete TSX-Mainboard konnten auch einige spektakuläre Bohrresultate veröffentlicht werden. Vor allem das Flaggschiffprojekt Fire Lake North konnte mit einer kontinuierlich verlaufenden Eisenerzformation von mehr als 360 Metern mit rund 36,2% Eisen glänzen. Ein weiteres Bohrloch brachte eine durchgehende Eisenerzmineralisation von 336 Metern mit rund 35% Eisenanteil zu Tage. Darin enthalten waren unter anderem auch 178 Meter mit 40,5% Eisen.
Erste positive Wirtschaftlichkeitsstudie
Diese sehr positiven Ergebnisse flossen im November 2010 in eine erste unabhängige wirtschaftlichkeitsstudie ein. Dabei wurde ein Net Present Value von rund 1,6 Milliarden USD bei einer Cash Flow Discount Rate von 5% ermittelt. Erstes Ziel ist die Produktion von 7 Millionen Tonnen Eisenerzkonzentrat (65% Eisen) jährlich. Die benötigten Kapitalkosten für die Verarbeitungsanlagen, die Mineninfrastruktur, den Konzentrator sowie für die benötigte Bahnanbindung inklusive Ladeeinheiten wurden zunächst auf rund 890 Millionen USD geschätzt.
Hinzugewinnung weiterer Lizenzgebiete
Gerade diese erste Wirtschaftlichkeitsbetrachtung stellte zu Beginn dieses Jahres den eigentlichen Startschuss für Champion Minerals im Fermont Eisenerzbezirk dar. Denn nun hatte man eine wirtschaftliche Basis, auf der man alles Folgende aufbauen konnte. Erste Maßnahme in 2011 war die Sicherung weiterer Lizenzflächen. Dazu erwarb man die Explorationsrechte an 41 weiteren Claims, die eine Fläche von insgesamt 21,7 Quadratkilometern umfassen und historische Eisenerzressourcen von rund 17 Millionen Tonnen mit etwa 31% Eisen besitzen. Die beiden neuen Projektgebiete nennen sich Black Dan Property und East Inlet Prolaufenperty und bilden einen Link zwischen Champions Audrey-Ernie Lakes Claims und den Penguin Lake Claims, sodass Champion dort nun eine durchgehende Eisenerzformation von 40 Kilometern Länge besitzt.
Die Neuentdeckung Harvey-Tuttle
Neben Fire Lake North verspricht man sich bei Champion Minerals vor allem von Harvey-Tuttle ein hohes Explorationspotenzial. So brachten die Bohrarbeiten 2010 unter anderem 168,4 Meter mit 30,3% Eisen zu Tage. Dies führte im März 2011 zu einer ersten NI 43-101-konformen Ressourcenschätzung
von 717 Millionen Tonnen mit 25,0% Eisen bei einem Cut-Off-Grad von 20% Eisenanteil. Damit bewies das Unternehmen abermals sein Gespür für die richtigen Projekte, denn Harvey-Tuttle ist neben Fire
Lake North und Bellechasse nun bereits das dritte hochgradige Eisenerzprojekt von Champion Minerals
innerhalb des Fermont Eisenerz Distrikts.
Weiterentwicklung von Fire Lake North und Machbarkeitsstudie
Trotz der Erfolge auf Harvey-Tuttle konzentriert sich Champion Minerals zunächst einmal weiter auf das Flaggschiffprojekt Fire Lake North. Dort konnte man im Rahmen des 2011er Bohrprogramms in der ersten Jahreshälfte auch weitere Explorationserfolge vermelden. So erbohrte man unter anderem 123
Meter mit 34,1% Eisen und 235 Meter mit 33,8% Eisen. Hauptziel dieses aktuell noch laufenden Bohrprogramms ist neben der Ausdehnung der Ressource auch die Hochstufung derselben von der Kategorie „inferred“ in die Kategorien „measured“ und „indicated“. Die daraus erhaltenen Ergebnisse sollen sowohl in eine überarbeitete Wirtschaftlichkeitsstudie einfließen, als auch in eine Machbarkeitsstudie, die bis zum zweiten Quartal 2012 fertiggestellt sein soll.
Evaluierung infrastruktureller Optionen
Parallel zu den Explorationsprogrammen laufen weitere Arbeiten für die Machbarkeitsstudie. Darunter auch mehrere Studien über die infrastrukturellen Möglichkeiten, die sich Champion Minerals bieten. Dabei stehen vor allem zwei Punkte an erster Stelle. Zum Einen die Erstellung einer dritten, etwa 62 Kilometer langen Bahntrasse um eine Verbindung zum Schienennetz der Bloom Lake Railway erzustellen und zum Anderen mehrere Optionen zur Schaffung einer Verbindung zur Quebec North Shore and Labrador Railway. Neben den zu erwartenden Kosten sollen die beiden Studien auch ermitteln, inwiefern auf beiden Trassen aktuell noch freie Transportkapazitäten vorhanden sind. Die Ergebnisse daraus werden ebenso in die angesprochene Machbarkeitsstudie mit einfließen.
Das zweite Großprojekt Attikamagen
Auch von seinem zweiten Großprojekt Attikamagen konnte Champion Minerals in 2011 bereits Erfolge vermelden. So stieß man bei umfangreichen Bohrarbeiten unter anderem auf 139 Meter mit 52,8% Eisen. Die höchsten Grade erreichten mehr als 65% Eisen über 42 Meter. Auch wenn Attikamagen immer etwas im Schatten der Aktivitäten im Fermont Bezirk steht, baut sich Champion Minerals hier
klammheimlich ein zweites Großprojekt auf. Für Attikamagen existiert aktuell ein Joint Venture mit
Labec Century Iron Ore Inc., sodass alle anstehenden Bohrarbeiten auch vom Partner bezahlt
werden.
Managementverstärkungen geben Richtung vor
Im Mai und Juni 2011 vermeldete Champion Minerals die Verpflichtung von zwei sehr erfahrenen Managementmitgliedern. Dabei handelt es sich zum einen um Jean-Luc Chouinard, der neu als Projektdirektor gewonnen werden konnte. Chouinard besitzt einen langjährigen Erfahrungsschatz
auf den Gebieten Minenkonstruktion, Minenbetrieb sowie der Erstellung von Scoping Studien und Machbarkeitsstudien. Er arbeitete dabei bereits direkt oder indirekt für Barrick Gold, Agnico Eagle, Cominco, IAMGOLD, Bema Gold und einige weitere Unternehmen. Dabei begleitete er einige Großprojekte von der Erstellung der Machbarkeitsstudie bis hin zur Etablierung einer wirtschaftlichen
Produktion. Darunter auch das Pinos Altos Projekt und Breakwater Resources‘ Langlois Mine.
Das zweite neue Managementmitglied heißt Jean Depatie und ist seit Kurzem unabhängiger Direktor
bei Champion Minerals. Depatie ist Experte im Bereich der so genannten ökonomischen Geologie und arbeitete bereits für die vereinten Nationen, die Weltbank und darüber hinaus auch bei Champion Minerals‘ Nachbarn Consolidated Thompson. Er kennt den Fermont Bezirk also wie seine Westentasche und wird Champion Minerals hinsichtlich der Optimierung der Infrastruktur und einer möglichen Produktion beraten.
Finanzierung gesichert
Die Finanzierung der anstehenden Bohrmaßnahmen und die Erstellung der Machbarkeitsstudie konnte Anfang 2010 durch eine Kapitalerhöhung in Höhe von 30 Millionen USD (12,5 Millionen Aktien zu 2,50 USD) gesichert werden.
Fazit und Ausblick
Damit kann das große Ziel Machbarkeitsstudie erreicht werden. Danach wird sich entscheiden, inwieweit Champion Minerals Angebote von interessierten Nachbarn oder gar anderen Majors, die bisher noch nicht im Fermont Distrikt vertreten sind, erhalten wird. Ob es sich dabei dann um eine Übernahme oder um ein Joint Venture handeln wird, das spielt aktuell nur eine untergeordnete Rolle. Denn ganz im Gegensatz zum Zeitpunkt unseres letzten Updates vor knapp einem Jahr sitzt Champion Minerals jetzt auf NACHGEWIESENEN Ressourcen von mehr als 1,5 Milliarden Tonnen Gestein mit
einem Eisenanteil von etwa 25%. Hinzu kommen noch weitere 600 Millionen Tonnen an historischen
Ressourcen, wobei die Ressourcenbasis von Attikamagen noch gar nicht mit eingerechnet ist. Eine Weltklasse-Ressource und eine Machbarkeitsstudie, das dürfte den einen oder anderen Major sicherlich
überzeugen, Champion Minerals ab spätestens 2012 zu „fördern“.
Quelle: http://www.dyor.de/champion-minerals/champion-minerals-update-2.html & RohstoffSpiegel Ausgabe 14/2011
Champion Minerals blickt auf erfolgreiches Jahr zurück
Mitte letzten Jahres haben wir Ihnen zum letzten Mal ein Update zu Champion Minerals gegeben. Damals noch eher im Bereich „Early-Stage“anzusiedeln, hat sich seitdem beim kanadischen Eisenerz-Unternehmen einiges getan. Für uns Anlass genug, Ihnen eine chronologische Übersicht über die Ereignisse der vergangenen 11 Monate zu geben und Sie damit auf den aktuellen Stand der Dinge zu bringen.
TSX-Listing als Fingerzeig in die richtige Richtung
Kurz nach unserem letzten Update von August 2010 konnte Champion Minerals einen ersten Meilenstein in Richtung eines angesehenen Bergbau-Unternehmens vermelden. Man wechselte von der TSX-Venture an die Hauptbörse TSX und zeigte damit in welche Richtung es zukünftig gehen sollte: nach oben!
Positive Bohrresultate untermauern Ausnahmestellung
Einhergehend mit dem erfolgreichen Wechsel an das viel stärker beachtete TSX-Mainboard konnten auch einige spektakuläre Bohrresultate veröffentlicht werden. Vor allem das Flaggschiffprojekt Fire Lake North konnte mit einer kontinuierlich verlaufenden Eisenerzformation von mehr als 360 Metern mit rund 36,2% Eisen glänzen. Ein weiteres Bohrloch brachte eine durchgehende Eisenerzmineralisation von 336 Metern mit rund 35% Eisenanteil zu Tage. Darin enthalten waren unter anderem auch 178 Meter mit 40,5% Eisen.
Erste positive Wirtschaftlichkeitsstudie
Diese sehr positiven Ergebnisse flossen im November 2010 in eine erste unabhängige wirtschaftlichkeitsstudie ein. Dabei wurde ein Net Present Value von rund 1,6 Milliarden USD bei einer Cash Flow Discount Rate von 5% ermittelt. Erstes Ziel ist die Produktion von 7 Millionen Tonnen Eisenerzkonzentrat (65% Eisen) jährlich. Die benötigten Kapitalkosten für die Verarbeitungsanlagen, die Mineninfrastruktur, den Konzentrator sowie für die benötigte Bahnanbindung inklusive Ladeeinheiten wurden zunächst auf rund 890 Millionen USD geschätzt.
Hinzugewinnung weiterer Lizenzgebiete
Gerade diese erste Wirtschaftlichkeitsbetrachtung stellte zu Beginn dieses Jahres den eigentlichen Startschuss für Champion Minerals im Fermont Eisenerzbezirk dar. Denn nun hatte man eine wirtschaftliche Basis, auf der man alles Folgende aufbauen konnte. Erste Maßnahme in 2011 war die Sicherung weiterer Lizenzflächen. Dazu erwarb man die Explorationsrechte an 41 weiteren Claims, die eine Fläche von insgesamt 21,7 Quadratkilometern umfassen und historische Eisenerzressourcen von rund 17 Millionen Tonnen mit etwa 31% Eisen besitzen. Die beiden neuen Projektgebiete nennen sich Black Dan Property und East Inlet Prolaufenperty und bilden einen Link zwischen Champions Audrey-Ernie Lakes Claims und den Penguin Lake Claims, sodass Champion dort nun eine durchgehende Eisenerzformation von 40 Kilometern Länge besitzt.
Die Neuentdeckung Harvey-Tuttle
Neben Fire Lake North verspricht man sich bei Champion Minerals vor allem von Harvey-Tuttle ein hohes Explorationspotenzial. So brachten die Bohrarbeiten 2010 unter anderem 168,4 Meter mit 30,3% Eisen zu Tage. Dies führte im März 2011 zu einer ersten NI 43-101-konformen Ressourcenschätzung
von 717 Millionen Tonnen mit 25,0% Eisen bei einem Cut-Off-Grad von 20% Eisenanteil. Damit bewies das Unternehmen abermals sein Gespür für die richtigen Projekte, denn Harvey-Tuttle ist neben Fire
Lake North und Bellechasse nun bereits das dritte hochgradige Eisenerzprojekt von Champion Minerals
innerhalb des Fermont Eisenerz Distrikts.
Weiterentwicklung von Fire Lake North und Machbarkeitsstudie
Trotz der Erfolge auf Harvey-Tuttle konzentriert sich Champion Minerals zunächst einmal weiter auf das Flaggschiffprojekt Fire Lake North. Dort konnte man im Rahmen des 2011er Bohrprogramms in der ersten Jahreshälfte auch weitere Explorationserfolge vermelden. So erbohrte man unter anderem 123
Meter mit 34,1% Eisen und 235 Meter mit 33,8% Eisen. Hauptziel dieses aktuell noch laufenden Bohrprogramms ist neben der Ausdehnung der Ressource auch die Hochstufung derselben von der Kategorie „inferred“ in die Kategorien „measured“ und „indicated“. Die daraus erhaltenen Ergebnisse sollen sowohl in eine überarbeitete Wirtschaftlichkeitsstudie einfließen, als auch in eine Machbarkeitsstudie, die bis zum zweiten Quartal 2012 fertiggestellt sein soll.
Evaluierung infrastruktureller Optionen
Parallel zu den Explorationsprogrammen laufen weitere Arbeiten für die Machbarkeitsstudie. Darunter auch mehrere Studien über die infrastrukturellen Möglichkeiten, die sich Champion Minerals bieten. Dabei stehen vor allem zwei Punkte an erster Stelle. Zum Einen die Erstellung einer dritten, etwa 62 Kilometer langen Bahntrasse um eine Verbindung zum Schienennetz der Bloom Lake Railway erzustellen und zum Anderen mehrere Optionen zur Schaffung einer Verbindung zur Quebec North Shore and Labrador Railway. Neben den zu erwartenden Kosten sollen die beiden Studien auch ermitteln, inwiefern auf beiden Trassen aktuell noch freie Transportkapazitäten vorhanden sind. Die Ergebnisse daraus werden ebenso in die angesprochene Machbarkeitsstudie mit einfließen.
Das zweite Großprojekt Attikamagen
Auch von seinem zweiten Großprojekt Attikamagen konnte Champion Minerals in 2011 bereits Erfolge vermelden. So stieß man bei umfangreichen Bohrarbeiten unter anderem auf 139 Meter mit 52,8% Eisen. Die höchsten Grade erreichten mehr als 65% Eisen über 42 Meter. Auch wenn Attikamagen immer etwas im Schatten der Aktivitäten im Fermont Bezirk steht, baut sich Champion Minerals hier
klammheimlich ein zweites Großprojekt auf. Für Attikamagen existiert aktuell ein Joint Venture mit
Labec Century Iron Ore Inc., sodass alle anstehenden Bohrarbeiten auch vom Partner bezahlt
werden.
Managementverstärkungen geben Richtung vor
Im Mai und Juni 2011 vermeldete Champion Minerals die Verpflichtung von zwei sehr erfahrenen Managementmitgliedern. Dabei handelt es sich zum einen um Jean-Luc Chouinard, der neu als Projektdirektor gewonnen werden konnte. Chouinard besitzt einen langjährigen Erfahrungsschatz
auf den Gebieten Minenkonstruktion, Minenbetrieb sowie der Erstellung von Scoping Studien und Machbarkeitsstudien. Er arbeitete dabei bereits direkt oder indirekt für Barrick Gold, Agnico Eagle, Cominco, IAMGOLD, Bema Gold und einige weitere Unternehmen. Dabei begleitete er einige Großprojekte von der Erstellung der Machbarkeitsstudie bis hin zur Etablierung einer wirtschaftlichen
Produktion. Darunter auch das Pinos Altos Projekt und Breakwater Resources‘ Langlois Mine.
Das zweite neue Managementmitglied heißt Jean Depatie und ist seit Kurzem unabhängiger Direktor
bei Champion Minerals. Depatie ist Experte im Bereich der so genannten ökonomischen Geologie und arbeitete bereits für die vereinten Nationen, die Weltbank und darüber hinaus auch bei Champion Minerals‘ Nachbarn Consolidated Thompson. Er kennt den Fermont Bezirk also wie seine Westentasche und wird Champion Minerals hinsichtlich der Optimierung der Infrastruktur und einer möglichen Produktion beraten.
Finanzierung gesichert
Die Finanzierung der anstehenden Bohrmaßnahmen und die Erstellung der Machbarkeitsstudie konnte Anfang 2010 durch eine Kapitalerhöhung in Höhe von 30 Millionen USD (12,5 Millionen Aktien zu 2,50 USD) gesichert werden.
Fazit und Ausblick
Damit kann das große Ziel Machbarkeitsstudie erreicht werden. Danach wird sich entscheiden, inwieweit Champion Minerals Angebote von interessierten Nachbarn oder gar anderen Majors, die bisher noch nicht im Fermont Distrikt vertreten sind, erhalten wird. Ob es sich dabei dann um eine Übernahme oder um ein Joint Venture handeln wird, das spielt aktuell nur eine untergeordnete Rolle. Denn ganz im Gegensatz zum Zeitpunkt unseres letzten Updates vor knapp einem Jahr sitzt Champion Minerals jetzt auf NACHGEWIESENEN Ressourcen von mehr als 1,5 Milliarden Tonnen Gestein mit
einem Eisenanteil von etwa 25%. Hinzu kommen noch weitere 600 Millionen Tonnen an historischen
Ressourcen, wobei die Ressourcenbasis von Attikamagen noch gar nicht mit eingerechnet ist. Eine Weltklasse-Ressource und eine Machbarkeitsstudie, das dürfte den einen oder anderen Major sicherlich
überzeugen, Champion Minerals ab spätestens 2012 zu „fördern“.
Quelle: http://www.dyor.de/champion-minerals/champion-minerals-update-2.html & RohstoffSpiegel Ausgabe 14/2011
Champion Minerals' Drilling at Fire Lake North Nears Completion and Continues to Delineate High-Grade Zones of Coarse-Grained, Specular Hematite-Rich Mineralization
TORONTO, ONTARIO -- (Marketwire) -- 08/03/11 -- CHAMPION MINERALS INC. (TSX: CHM)(FRANKFURT: P02)
("Champion", or the "Company") is pleased to announce assay results recently received for diamond-drill holes completed at the Fire Lake North Project. Highlights of assay results from nineteen new holes are detailed in Table 1, including eight holes drilled in the proposed East Pit area ("East Area"), five holes drilled in the proposed West Pit area ("West Area"), and six holes drilled in the Don Lake area ("Don Lake").
The definition drilling at both the East and West designed pit areas continues to intersect wide intervals of iron formation containing distinct zones of high-grade, coarse-grained, specular hematite-rich mineralization.
Drilling at the East Area is complete with 27 holes added since the last Mineral Resource Estimate and Preliminary Economic Assessment (PEA) Report, published in 2010. Drillhole FLN11-61 intersected 262.8 m grading 32.4% Total Iron (FeT) and is interpreted to have been drilled partially down-dip into the upper (western) limb, and subsequently passed through the thickened fold hinge, of a westward dipping, overturned synform, cored by iron formation. Further south, Drillhole FLN11-57 intersected 65.5 m grading 26.3% FeT in the upper (western) limb of the same synform. Drillhole FLN11-56, located on the same section, intersected 52.0 m grading 32.1% FeT in the lower (eastern) limb of the overturned synform. Geological modelling of the East Area has commenced, with assay results pending for three remaining drill holes in this area.
At the West Area, the latest phase of drilling is nearing completion, with 4 drill rigs completing their current holes. Drillhole FLN11-60 intersected 120.70 m grading 26.3% FeT, including an interval of 87.8 m grading 34.6% FeT, in the eastern limb of the synform. Geological logging of drill hole FL11-76, completed on the same section, intersected both the upper (eastern) and lower (western) limbs indicating that the synform is overturned to the east. Sampling and assay results are pending for drillhole FL11-76.
Drilling at Don Lake is complete, with 16 holes drilled during 2011. Geological modelling of the Don Lake zone is complete and resource modelling has commenced. The drilling at Don Lake was designed to outline additional iron resources with the objective of establishing a third potential open pit on the Fire Lake North Property.
The re-interpreted fold geometry and additional potential resources generated from the results of the 2010-11 definition drilling at the East and West Areas are expected to produce significantly differing pit shells and final pit designs from the 2010 model. The new pit designs will likely contain increased in-pit resources and reduced strip ratios, which in turn will positively impact the Project Economics that are expected in the forthcoming PEA update, scheduled for completion by the end of Q3-2011.
Table 1. Significant Results from Recent Diamond-Drilling at the Fire Lake
North Project
----------------------------------------------------------------------------
TOTAL
Area HOLE-ID AZIMUTH DIP DEPTH FROM TO INTERVAL Fe_Total
----------------------------------------------------------------------------
metres metres metres metres Fe%
----------------------------------------------------------------------------
East Pit FLN11-56 50 -65 335 103.25 155.20 51.95 32.1
----------------------------------------------------------------------------
FLN11-57 50 -60 350 259.70 325.23 65.53 26.3
----------------------------------------------------------------------------
FL11-59 45 -75 281 169.93 205.32 35.39 29.6
----------------------------------------------------------------------------
FL11-61 230 -55 473 125.00 387.79 262.79 32.4
----------------------------------------------------------------------------
FL11-63 50 -70 428 360.97 391.62 30.62 30.9
----------------------------------------------------------------------------
FL11-65 50 -60 485 287.97 333.53 45.56 31.9
----------------------------------------------------------------------------
and 417.39 456.81 39.42 26.7
----------------------------------------------------------------------------
FL11-70 50 -55 471 222.32 244.00 21.68 31.8
----------------------------------------------------------------------------
and 333.52 374.61 41.09 29.3
----------------------------------------------------------------------------
FL11-71 50 -65 551 476.41 542.23 65.82 29.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
West Pit FLN11-58 230 -45 261 178.70 213.10 34.40 25.6
----------------------------------------------------------------------------
FL11-60 255 -50 327 196.20 316.90 120.70 26.3
----------------------------------------------------------------------------
includes 229.12 316.90 87.78 34.6
----------------------------------------------------------------------------
FL11-62D 105 -46 349 160.75 180.51 19.76 35.1
----------------------------------------------------------------------------
and 248.27 308.70 60.43 26.3
----------------------------------------------------------------------------
including 266.32 308.70 42.38 31.5
----------------------------------------------------------------------------
FL11-64 270 -55 183 138.40 183.00 44.60 27.3
----------------------------------------------------------------------------
FL11-66B 95 -45 327 185.68 208.59 22.91 29.5
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Don Lake DL11-15 200 -47 349 196.17 231.00 34.83 25.8
----------------------------------------------------------------------------
and 281.60 299.55 17.95 22.6
----------------------------------------------------------------------------
DL11-16 215 -60 301 122.55 156.00 33.45 21.1
----------------------------------------------------------------------------
DL11-17 215 -60 293 114.47 140.80 26.33 26.3
----------------------------------------------------------------------------
DL11-18 210 -75 389 221.34 262.88 41.54 27.8
----------------------------------------------------------------------------
and 356.40 369.99 13.59 26.3
----------------------------------------------------------------------------
DL11-19 210 -80 272 208.76 244.16 35.40 30.9
----------------------------------------------------------------------------
DL11-20 35 -70 176 62.0 126.0 64.00 20.6
----------------------------------------------------------------------------
Assays pending for Holes FL11-64B, FL11-67, FL11-68 and FL11-69
Intervals are down-hole core lengths and not true widths.
In Q4-2010, Champion initiated a proposed 17,500 m program of infill definition drilling at Fire Lake North following positive results published in the November 2010 NI 43-101 Mineral Resource Estimate and PEA report. By 2010 year end, 5,500 m of drilling had been completed and the proposed program was increased to 20,000 m. As of the end of July, 2011 a total of 24,885 m had been drilled at Fire Lake North and the total proposed program increased to 26,300 m. The additional metres of drilling were required to delimit the maximum resources and favourable fold geometry of the mineralization for open pit mine design.
Once all drilling is completed and assay results are available, Champion will update the current Inferred Mineral Resource Estimate, which was calculated in the November 2010 PEA as 388 Million Tonnes (MT) grading 28.9% FeT.
The Fermont Iron Holdings
Champion's Fermont Holdings comprise seventeen properties, three of which - Fire Lake North, Bellechasse and Harvey-Tuttle - host combined NI 43-101 compliant Inferred Mineral Resources currently estimated at 1.55 Billion Tonnes grading 25.4% FeT, at a 15% cut-off. The Company recently announced positive results from drilling at the Lac Moire Project adjacent to the east of ArcelorMittal's Mont Wright Mine property. A Mineral Resource estimate for the Lac Moire Project is anticipated in Q3-2011. Seven of Champion's remaining fourteen Fermont properties contain combined Historical Mineral Resource Estimates(i) totalling 620 MT grading 31% Total Iron.
An ongoing, fully-funded, 60,000+ m diamond-drilling program that will investigate nine of Champion's Fermont properties is scheduled for completion in 2011-2012.
About Champion Minerals Inc.
Champion Minerals is an exploration and development company focused on discovering and developing significant iron ore resources, particularly in the provinces of Quebec and Newfoundland & Labrador. The Company's projects include: the Fermont Holdings in Quebec, jointly held by Champion (82.5% interest) and Fancamp Exploration Ltd. (17.5% interest); the Attikamagen Iron Property in Quebec and Labrador, and the Powderhorn / Gullbridge base-metal Project in central Newfoundland.
(i) Historical Mineral Resources are from Paquet, 1963 (MRNFQ Assessment File GM 13035) (see press release date February 15, 2011). All Historical Mineral Resources outlined in the text are non-compliant to NI 43-101 Mineral Resources and Mineral Reserves standards, and should therefore not be relied upon. A Qualified Person has not done sufficient work to upgrade or classify these Historical Mineral Resources as current NI 43-101 compliant Mineral resources. The current Mineral Resource estimates were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.
The technical information in this news release was reviewed and approved by Bruce Mitton, P. Geo., VP Exploration of the Company and a Qualified Person under NI 43-101 standards.
Please visit Champion's website at www.championminerals.com.
Statements made in this news release that are "forward-looking statements" not historical facts. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those stated herein.
Contacts:
Champion Minerals Inc.
Thomas G. Larsen
President and CEO
(416) 866-2200
Champion Minerals Inc.
Jorge Estepa
Vice-President
(416) 866-2200
Champion Minerals Inc.
Salisha Hosein
Director, Investor Relations
(416) 866-2200
www.championminerals.com
TORONTO, ONTARIO -- (Marketwire) -- 08/03/11 -- CHAMPION MINERALS INC. (TSX: CHM)(FRANKFURT: P02)
("Champion", or the "Company") is pleased to announce assay results recently received for diamond-drill holes completed at the Fire Lake North Project. Highlights of assay results from nineteen new holes are detailed in Table 1, including eight holes drilled in the proposed East Pit area ("East Area"), five holes drilled in the proposed West Pit area ("West Area"), and six holes drilled in the Don Lake area ("Don Lake").
The definition drilling at both the East and West designed pit areas continues to intersect wide intervals of iron formation containing distinct zones of high-grade, coarse-grained, specular hematite-rich mineralization.
Drilling at the East Area is complete with 27 holes added since the last Mineral Resource Estimate and Preliminary Economic Assessment (PEA) Report, published in 2010. Drillhole FLN11-61 intersected 262.8 m grading 32.4% Total Iron (FeT) and is interpreted to have been drilled partially down-dip into the upper (western) limb, and subsequently passed through the thickened fold hinge, of a westward dipping, overturned synform, cored by iron formation. Further south, Drillhole FLN11-57 intersected 65.5 m grading 26.3% FeT in the upper (western) limb of the same synform. Drillhole FLN11-56, located on the same section, intersected 52.0 m grading 32.1% FeT in the lower (eastern) limb of the overturned synform. Geological modelling of the East Area has commenced, with assay results pending for three remaining drill holes in this area.
At the West Area, the latest phase of drilling is nearing completion, with 4 drill rigs completing their current holes. Drillhole FLN11-60 intersected 120.70 m grading 26.3% FeT, including an interval of 87.8 m grading 34.6% FeT, in the eastern limb of the synform. Geological logging of drill hole FL11-76, completed on the same section, intersected both the upper (eastern) and lower (western) limbs indicating that the synform is overturned to the east. Sampling and assay results are pending for drillhole FL11-76.
Drilling at Don Lake is complete, with 16 holes drilled during 2011. Geological modelling of the Don Lake zone is complete and resource modelling has commenced. The drilling at Don Lake was designed to outline additional iron resources with the objective of establishing a third potential open pit on the Fire Lake North Property.
The re-interpreted fold geometry and additional potential resources generated from the results of the 2010-11 definition drilling at the East and West Areas are expected to produce significantly differing pit shells and final pit designs from the 2010 model. The new pit designs will likely contain increased in-pit resources and reduced strip ratios, which in turn will positively impact the Project Economics that are expected in the forthcoming PEA update, scheduled for completion by the end of Q3-2011.
Table 1. Significant Results from Recent Diamond-Drilling at the Fire Lake
North Project
----------------------------------------------------------------------------
TOTAL
Area HOLE-ID AZIMUTH DIP DEPTH FROM TO INTERVAL Fe_Total
----------------------------------------------------------------------------
metres metres metres metres Fe%
----------------------------------------------------------------------------
East Pit FLN11-56 50 -65 335 103.25 155.20 51.95 32.1
----------------------------------------------------------------------------
FLN11-57 50 -60 350 259.70 325.23 65.53 26.3
----------------------------------------------------------------------------
FL11-59 45 -75 281 169.93 205.32 35.39 29.6
----------------------------------------------------------------------------
FL11-61 230 -55 473 125.00 387.79 262.79 32.4
----------------------------------------------------------------------------
FL11-63 50 -70 428 360.97 391.62 30.62 30.9
----------------------------------------------------------------------------
FL11-65 50 -60 485 287.97 333.53 45.56 31.9
----------------------------------------------------------------------------
and 417.39 456.81 39.42 26.7
----------------------------------------------------------------------------
FL11-70 50 -55 471 222.32 244.00 21.68 31.8
----------------------------------------------------------------------------
and 333.52 374.61 41.09 29.3
----------------------------------------------------------------------------
FL11-71 50 -65 551 476.41 542.23 65.82 29.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
West Pit FLN11-58 230 -45 261 178.70 213.10 34.40 25.6
----------------------------------------------------------------------------
FL11-60 255 -50 327 196.20 316.90 120.70 26.3
----------------------------------------------------------------------------
includes 229.12 316.90 87.78 34.6
----------------------------------------------------------------------------
FL11-62D 105 -46 349 160.75 180.51 19.76 35.1
----------------------------------------------------------------------------
and 248.27 308.70 60.43 26.3
----------------------------------------------------------------------------
including 266.32 308.70 42.38 31.5
----------------------------------------------------------------------------
FL11-64 270 -55 183 138.40 183.00 44.60 27.3
----------------------------------------------------------------------------
FL11-66B 95 -45 327 185.68 208.59 22.91 29.5
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Don Lake DL11-15 200 -47 349 196.17 231.00 34.83 25.8
----------------------------------------------------------------------------
and 281.60 299.55 17.95 22.6
----------------------------------------------------------------------------
DL11-16 215 -60 301 122.55 156.00 33.45 21.1
----------------------------------------------------------------------------
DL11-17 215 -60 293 114.47 140.80 26.33 26.3
----------------------------------------------------------------------------
DL11-18 210 -75 389 221.34 262.88 41.54 27.8
----------------------------------------------------------------------------
and 356.40 369.99 13.59 26.3
----------------------------------------------------------------------------
DL11-19 210 -80 272 208.76 244.16 35.40 30.9
----------------------------------------------------------------------------
DL11-20 35 -70 176 62.0 126.0 64.00 20.6
----------------------------------------------------------------------------
Assays pending for Holes FL11-64B, FL11-67, FL11-68 and FL11-69
Intervals are down-hole core lengths and not true widths.
In Q4-2010, Champion initiated a proposed 17,500 m program of infill definition drilling at Fire Lake North following positive results published in the November 2010 NI 43-101 Mineral Resource Estimate and PEA report. By 2010 year end, 5,500 m of drilling had been completed and the proposed program was increased to 20,000 m. As of the end of July, 2011 a total of 24,885 m had been drilled at Fire Lake North and the total proposed program increased to 26,300 m. The additional metres of drilling were required to delimit the maximum resources and favourable fold geometry of the mineralization for open pit mine design.
Once all drilling is completed and assay results are available, Champion will update the current Inferred Mineral Resource Estimate, which was calculated in the November 2010 PEA as 388 Million Tonnes (MT) grading 28.9% FeT.
The Fermont Iron Holdings
Champion's Fermont Holdings comprise seventeen properties, three of which - Fire Lake North, Bellechasse and Harvey-Tuttle - host combined NI 43-101 compliant Inferred Mineral Resources currently estimated at 1.55 Billion Tonnes grading 25.4% FeT, at a 15% cut-off. The Company recently announced positive results from drilling at the Lac Moire Project adjacent to the east of ArcelorMittal's Mont Wright Mine property. A Mineral Resource estimate for the Lac Moire Project is anticipated in Q3-2011. Seven of Champion's remaining fourteen Fermont properties contain combined Historical Mineral Resource Estimates(i) totalling 620 MT grading 31% Total Iron.
An ongoing, fully-funded, 60,000+ m diamond-drilling program that will investigate nine of Champion's Fermont properties is scheduled for completion in 2011-2012.
About Champion Minerals Inc.
Champion Minerals is an exploration and development company focused on discovering and developing significant iron ore resources, particularly in the provinces of Quebec and Newfoundland & Labrador. The Company's projects include: the Fermont Holdings in Quebec, jointly held by Champion (82.5% interest) and Fancamp Exploration Ltd. (17.5% interest); the Attikamagen Iron Property in Quebec and Labrador, and the Powderhorn / Gullbridge base-metal Project in central Newfoundland.
(i) Historical Mineral Resources are from Paquet, 1963 (MRNFQ Assessment File GM 13035) (see press release date February 15, 2011). All Historical Mineral Resources outlined in the text are non-compliant to NI 43-101 Mineral Resources and Mineral Reserves standards, and should therefore not be relied upon. A Qualified Person has not done sufficient work to upgrade or classify these Historical Mineral Resources as current NI 43-101 compliant Mineral resources. The current Mineral Resource estimates were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.
The technical information in this news release was reviewed and approved by Bruce Mitton, P. Geo., VP Exploration of the Company and a Qualified Person under NI 43-101 standards.
Please visit Champion's website at www.championminerals.com.
Statements made in this news release that are "forward-looking statements" not historical facts. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those stated herein.
Contacts:
Champion Minerals Inc.
Thomas G. Larsen
President and CEO
(416) 866-2200
Champion Minerals Inc.
Jorge Estepa
Vice-President
(416) 866-2200
Champion Minerals Inc.
Salisha Hosein
Director, Investor Relations
(416) 866-2200
www.championminerals.com
August 11, 2011 07:30 ET
Champion Minerals Provides Activity Update-Nine Diamond Drills Currently Delineating Resources at Fermont Iron Ore Holdings
- Fire Lake North - drilling final hole of 26,000 m program initiated after the last Mineral Resource Estimate (Nov 2010);
- O'Keefe-Purdy - 3 drills added in mid-July to commence a Phase 1 program totalling 10,000 m;
- Oil Can - 2 drills recently commenced an 8,000 m Phase 1 program;
- Midway - 1 drill recently started a Phase 1 program set for 3,000 m, 2nd drill to commence after finishing at Fire Lake North;
- Moire Lake - 2 drills working to complete an expanded program totalling 9,600 m
TORONTO, ONTARIO--(Marketwire - Aug. 11, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide shareholders with an update of drilling activities at the Company's Fermont Property Holdings in northeastern Quebec.
Fire Lake North
Champion has a total of nine drill rigs operating on its Fermont Projects. At the flagship Fire Lake North Project, the final drillhole of the current program is in-progress. The program comprised 57 holes, totalling 26,000 m and has been ongoing since the November 2010 Mineral Resource Estimate and Preliminary Economic Assessment (PEA). Resource modelling and estimation is in-progress for the "Don Lake" and "East" areas, while the Company awaits remaining assay results from the recently completed "West Area" drillholes.
Based on preliminary in-house modelling of the new drilling results from Fire Lake North, Champion expects to realize a significant increase to the Project's National Instrument ("NI") 43-101 Inferred Mineral Resource Estimate, currently estimated as 388 Million Tonnes (MT) grading 28.9% Total Iron (FeT), as well as a reclassification of some Inferred resources to the Indicated category. Early best-estimates point to increased in-pit resources, reduced strip ratios for the East Area and West Area designed pits, and to the potential feasibility of an open pit at Don Lake. An updated Mineral Resource Estimate is scheduled for completion in Q3 to be followed shortly thereafter by an update of the PEA.
O'Keefe-Purdy
In July, three additional drills were commissioned to start a 10,000 metre diamond-drilling program at the Company's O'Keefe-Purdy Project. This Phase 1 drilling program is designed to validate and expand upon the Historical Mineral Resource* estimate of 51 MT grading 37% FeT (MRNFQ Assessment File GM31090, 1975). Results from Champion's airborne magnetic and gravimetric surveys, rare bedrock exposures, and historic drilling results, indicate that the O'Keefe-Purdy property is underlain by a convoluted, locally thickened iron formation having an overall strike length of nearly 20 km. Two drills have commenced validation-drilling on the historic O'Keefe Lake Iron Occurrence while the third drill has begun exploration elsewhere on the property. Iron formation intersections in the new drill core have been dominantly specular hematite-rich, with lesser amounts of magnetite. Should NI 43-101 compliant iron resources be identified at O'Keefe-Purdy, it could provide suitable satellite feed to the Fire Lake North Project and potentially enhance the economics of development.
Oil Can
Three of four drills originally at Fire Lake North have completed their scheduled drilling. Two of these drills were deployed to the Oil Can Project to commence a Phase 1 drill program totalling 8,000 m. Drill logs from four historic drill holes on the property document iron formation comprised of specular-hematite and magnetite (see Assessment Report GM005486-B: http://sigeom.mrnf.gouv.qc.ca). Magnetic responses, outlined by the Company's two recent airborne geophysical surveys, show the iron formation to be complexly folded with structurally thickened zones having potentially favourable geometries for open pit exploitation. The initial 5,000 m of drilling will evaluate the Project's mineral potential at widely spaced intervals, and will be followed by 3,000 m of in-fill and down-dip drilling to provide a better understanding of geometry.
Midway
The third drill from Fire Lake North was most recently deployed to the Midway Project, as will be the fourth drill upon completion of the final hole at the Fire Lake North West Area. The Phase 1 diamond-drilling program at Midway is scheduled for 3,000 m; however, as at Oil Can, the initial holes totalling 1,800 m, will be widely spaced and will be followed by 1,200 m of in-fill and down-dip drilling to provide a better understanding of the sub-surface geometry.
All of Champion's Fermont Cluster 2 properties – namely, Fire Lake North, Bellechasse, Harvey-Tuttle, O'Keefe-Purdy, Midway, Oil Can, Hope Lake, Claire Lake and Cassé Lake – are within a reasonable distance to the Fire Lake North Project to enable potential development of satellite resources that might be conveyed to a centralized production complex developed at Fire Lake North. It is for this reason that Champion remains dedicated to exploring the Cluster 2 properties in order to identify which of them have the potential for coarse grained specular-hematite mineralization and prioritize the delineation of these more valued resources for sinter feed. Champion will continue to further delineate the magnetite-rich resources at other Cluster 2 projects for potential development as sinter / pellet feed source.
Moire Lake (Cluster 1)
At the Company's Moire Lake Project, two drills are working towards completing an increased drill program totalling 9,600 m. The initial 5,000 m program was increased to 7,600 m as a result of favourable results obtained while validating the Historic Mineral Resources* (102 MT grading 31% FeT).at the Moire Lake Occurrence (MRNFQ Assessment File GM13035, 1963). The initial drill program included 2 holes to test a separate zone of iron formation on the east side of the property, where recent prospecting encountered outcrops containing specular-hematite and magnetite iron formation in zones up to 40 m wide. An additional 2,000 m of drilling has been scheduled to delineate the extent of iron formation along this Eastern Trend at Moire Lake. The Company expects to provide an update of assay results for recently completed drill holes at Moire Lake shortly.
The Fermont Iron Holdings
Champion's Fermont Holdings comprise seventeen properties, three of which - Fire Lake North, Bellechasse and Harvey-Tuttle - host a combined NI 43-101 compliant Inferred Mineral Resources currently estimated at 1.55 Billion Tonnes grading 25.4 % FeT, at a 15% cut-off. The Company recently announced positive results from drilling at the Moire Lake Project adjacent to the east of ArcelorMittal's Mont Wright Mine property. A Mineral Resource estimate for the Moire Lake Project is anticipated in Q3-2011. Seven of Champion's remaining fourteen Fermont properties contain combined Historical Mineral Resource Estimates* totalling 620 MT grading 31% Total Iron.
An ongoing, fully-funded, 60,000+ m diamond-drilling program that will investigate nine of Champion's Fermont properties is scheduled for completion in 2011-2012.
About Champion Minerals Inc.
Champion Minerals is an exploration and development company focused on discovering and developing significant iron ore resources, particularly in the provinces of Quebec and Newfoundland & Labrador. The Company's projects include: the Fermont Holdings in Quebec, jointly held by Champion (82.5% interest) and Fancamp Exploration Ltd. (17.5% interest); the Attikamagen Iron Property in Quebec and Labrador, and the Powderhorn / Gullbridge base-metal Project in central Newfoundland.
* Historical Mineral Resources are from Paquet, 1963 (MRNFQ Assessment File GM 13035) (see press release date February 15, 2011). All Historical Mineral Resources outlined in the text are non-compliant to NI 43-101 Mineral Resources and Mineral Reserves standards, and should therefore not be relied upon. A Qualified Person has not done sufficient work to upgrade or classify these Historical Mineral Resources as current NI 43-101 compliant Mineral resources. The current Mineral Resource estimates were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.
Champion Minerals Provides Activity Update-Nine Diamond Drills Currently Delineating Resources at Fermont Iron Ore Holdings
- Fire Lake North - drilling final hole of 26,000 m program initiated after the last Mineral Resource Estimate (Nov 2010);
- O'Keefe-Purdy - 3 drills added in mid-July to commence a Phase 1 program totalling 10,000 m;
- Oil Can - 2 drills recently commenced an 8,000 m Phase 1 program;
- Midway - 1 drill recently started a Phase 1 program set for 3,000 m, 2nd drill to commence after finishing at Fire Lake North;
- Moire Lake - 2 drills working to complete an expanded program totalling 9,600 m
TORONTO, ONTARIO--(Marketwire - Aug. 11, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide shareholders with an update of drilling activities at the Company's Fermont Property Holdings in northeastern Quebec.
Fire Lake North
Champion has a total of nine drill rigs operating on its Fermont Projects. At the flagship Fire Lake North Project, the final drillhole of the current program is in-progress. The program comprised 57 holes, totalling 26,000 m and has been ongoing since the November 2010 Mineral Resource Estimate and Preliminary Economic Assessment (PEA). Resource modelling and estimation is in-progress for the "Don Lake" and "East" areas, while the Company awaits remaining assay results from the recently completed "West Area" drillholes.
Based on preliminary in-house modelling of the new drilling results from Fire Lake North, Champion expects to realize a significant increase to the Project's National Instrument ("NI") 43-101 Inferred Mineral Resource Estimate, currently estimated as 388 Million Tonnes (MT) grading 28.9% Total Iron (FeT), as well as a reclassification of some Inferred resources to the Indicated category. Early best-estimates point to increased in-pit resources, reduced strip ratios for the East Area and West Area designed pits, and to the potential feasibility of an open pit at Don Lake. An updated Mineral Resource Estimate is scheduled for completion in Q3 to be followed shortly thereafter by an update of the PEA.
O'Keefe-Purdy
In July, three additional drills were commissioned to start a 10,000 metre diamond-drilling program at the Company's O'Keefe-Purdy Project. This Phase 1 drilling program is designed to validate and expand upon the Historical Mineral Resource* estimate of 51 MT grading 37% FeT (MRNFQ Assessment File GM31090, 1975). Results from Champion's airborne magnetic and gravimetric surveys, rare bedrock exposures, and historic drilling results, indicate that the O'Keefe-Purdy property is underlain by a convoluted, locally thickened iron formation having an overall strike length of nearly 20 km. Two drills have commenced validation-drilling on the historic O'Keefe Lake Iron Occurrence while the third drill has begun exploration elsewhere on the property. Iron formation intersections in the new drill core have been dominantly specular hematite-rich, with lesser amounts of magnetite. Should NI 43-101 compliant iron resources be identified at O'Keefe-Purdy, it could provide suitable satellite feed to the Fire Lake North Project and potentially enhance the economics of development.
Oil Can
Three of four drills originally at Fire Lake North have completed their scheduled drilling. Two of these drills were deployed to the Oil Can Project to commence a Phase 1 drill program totalling 8,000 m. Drill logs from four historic drill holes on the property document iron formation comprised of specular-hematite and magnetite (see Assessment Report GM005486-B: http://sigeom.mrnf.gouv.qc.ca). Magnetic responses, outlined by the Company's two recent airborne geophysical surveys, show the iron formation to be complexly folded with structurally thickened zones having potentially favourable geometries for open pit exploitation. The initial 5,000 m of drilling will evaluate the Project's mineral potential at widely spaced intervals, and will be followed by 3,000 m of in-fill and down-dip drilling to provide a better understanding of geometry.
Midway
The third drill from Fire Lake North was most recently deployed to the Midway Project, as will be the fourth drill upon completion of the final hole at the Fire Lake North West Area. The Phase 1 diamond-drilling program at Midway is scheduled for 3,000 m; however, as at Oil Can, the initial holes totalling 1,800 m, will be widely spaced and will be followed by 1,200 m of in-fill and down-dip drilling to provide a better understanding of the sub-surface geometry.
All of Champion's Fermont Cluster 2 properties – namely, Fire Lake North, Bellechasse, Harvey-Tuttle, O'Keefe-Purdy, Midway, Oil Can, Hope Lake, Claire Lake and Cassé Lake – are within a reasonable distance to the Fire Lake North Project to enable potential development of satellite resources that might be conveyed to a centralized production complex developed at Fire Lake North. It is for this reason that Champion remains dedicated to exploring the Cluster 2 properties in order to identify which of them have the potential for coarse grained specular-hematite mineralization and prioritize the delineation of these more valued resources for sinter feed. Champion will continue to further delineate the magnetite-rich resources at other Cluster 2 projects for potential development as sinter / pellet feed source.
Moire Lake (Cluster 1)
At the Company's Moire Lake Project, two drills are working towards completing an increased drill program totalling 9,600 m. The initial 5,000 m program was increased to 7,600 m as a result of favourable results obtained while validating the Historic Mineral Resources* (102 MT grading 31% FeT).at the Moire Lake Occurrence (MRNFQ Assessment File GM13035, 1963). The initial drill program included 2 holes to test a separate zone of iron formation on the east side of the property, where recent prospecting encountered outcrops containing specular-hematite and magnetite iron formation in zones up to 40 m wide. An additional 2,000 m of drilling has been scheduled to delineate the extent of iron formation along this Eastern Trend at Moire Lake. The Company expects to provide an update of assay results for recently completed drill holes at Moire Lake shortly.
The Fermont Iron Holdings
Champion's Fermont Holdings comprise seventeen properties, three of which - Fire Lake North, Bellechasse and Harvey-Tuttle - host a combined NI 43-101 compliant Inferred Mineral Resources currently estimated at 1.55 Billion Tonnes grading 25.4 % FeT, at a 15% cut-off. The Company recently announced positive results from drilling at the Moire Lake Project adjacent to the east of ArcelorMittal's Mont Wright Mine property. A Mineral Resource estimate for the Moire Lake Project is anticipated in Q3-2011. Seven of Champion's remaining fourteen Fermont properties contain combined Historical Mineral Resource Estimates* totalling 620 MT grading 31% Total Iron.
An ongoing, fully-funded, 60,000+ m diamond-drilling program that will investigate nine of Champion's Fermont properties is scheduled for completion in 2011-2012.
About Champion Minerals Inc.
Champion Minerals is an exploration and development company focused on discovering and developing significant iron ore resources, particularly in the provinces of Quebec and Newfoundland & Labrador. The Company's projects include: the Fermont Holdings in Quebec, jointly held by Champion (82.5% interest) and Fancamp Exploration Ltd. (17.5% interest); the Attikamagen Iron Property in Quebec and Labrador, and the Powderhorn / Gullbridge base-metal Project in central Newfoundland.
* Historical Mineral Resources are from Paquet, 1963 (MRNFQ Assessment File GM 13035) (see press release date February 15, 2011). All Historical Mineral Resources outlined in the text are non-compliant to NI 43-101 Mineral Resources and Mineral Reserves standards, and should therefore not be relied upon. A Qualified Person has not done sufficient work to upgrade or classify these Historical Mineral Resources as current NI 43-101 compliant Mineral resources. The current Mineral Resource estimates were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.
Champion Minerals Appoints Richard Quesnel as Senior Technical Advisor and Head of Advisory Board
TORONTO, ONTARIO--(Marketwire - Sept. 2, 2011) - Champion Minerals Inc. ("Champion" or the "Company") (TSX:CHM)(FRANKFURT:P02) is pleased to announce that Richard Quesnel has been appointed the Company's Senior Technical Advisor and Head of its Advisory Board.
With his accomplished career, Mr. Quesnel brings over 30 years of senior mine management and engineering experience to Champion. Most recently, Mr. Quesnel served over 5 years as President and Chief Executive Officer of Consolidated Thompson Iron Mines Inc. ("Consolidated Thompson") (acquired by Cliffs Natural Resources Inc. earlier this year) where he was responsible for the successful construction and production ramp-up of the Bloom Lake iron ore mine, located in the Labrador Trough in Quebec, Canada. Under Mr. Quesnel's guidance, Bloom Lake entered into commercial production in early 2010, on schedule and just four years after completion of its feasibility study.
During his tenure at Consolidated Thompson, Mr. Quesnel also oversaw the construction of a railroad line and ore handling facilities near the port of Pointe-Noire, Quebec, in support of the mining operations at Bloom Lake. Additionally, Mr. Quesnel and the Consolidated team raised over CDN $850 million in financing, negotiated and concluded a $240 million strategic investment by Wuhan Iron and Steel Company ("WISCO"), one of China's largest steel producers, as well as off-take agreements with WISCO, Worldlink Resources of China and SK Networks Co., a subsidiary of the third largest Korean conglomerate, SK Group.
Throughout his mining career, Mr. Quesnel has also contributed to the success of several large gold, base metals and iron ore mines, where he successfully developed, commissioned, operated and expanded mining operations, including Quebec Cartier's Mount Wright iron ore mine in Quebec, the Gibraltar mine in British Columbia, Barrick Gold's Meikle mine in Nevada and the Montcalm mine in Ontario.
Thomas Larsen, Champion's President and C.E.O., commented, "We are fortunate and excited to have Richard join our team. His technical and operational expertise and recent mine development experience in the Labrador Trough iron ore camp will be invaluable to Champion. The Company's technical and mining team will benefit greatly from Mr. Quesnel's mining success and his input as we progress Champion's Fermont Projects through development to feasibility and production."
TORONTO, ONTARIO--(Marketwire - Sept. 2, 2011) - Champion Minerals Inc. ("Champion" or the "Company") (TSX:CHM)(FRANKFURT:P02) is pleased to announce that Richard Quesnel has been appointed the Company's Senior Technical Advisor and Head of its Advisory Board.
With his accomplished career, Mr. Quesnel brings over 30 years of senior mine management and engineering experience to Champion. Most recently, Mr. Quesnel served over 5 years as President and Chief Executive Officer of Consolidated Thompson Iron Mines Inc. ("Consolidated Thompson") (acquired by Cliffs Natural Resources Inc. earlier this year) where he was responsible for the successful construction and production ramp-up of the Bloom Lake iron ore mine, located in the Labrador Trough in Quebec, Canada. Under Mr. Quesnel's guidance, Bloom Lake entered into commercial production in early 2010, on schedule and just four years after completion of its feasibility study.
During his tenure at Consolidated Thompson, Mr. Quesnel also oversaw the construction of a railroad line and ore handling facilities near the port of Pointe-Noire, Quebec, in support of the mining operations at Bloom Lake. Additionally, Mr. Quesnel and the Consolidated team raised over CDN $850 million in financing, negotiated and concluded a $240 million strategic investment by Wuhan Iron and Steel Company ("WISCO"), one of China's largest steel producers, as well as off-take agreements with WISCO, Worldlink Resources of China and SK Networks Co., a subsidiary of the third largest Korean conglomerate, SK Group.
Throughout his mining career, Mr. Quesnel has also contributed to the success of several large gold, base metals and iron ore mines, where he successfully developed, commissioned, operated and expanded mining operations, including Quebec Cartier's Mount Wright iron ore mine in Quebec, the Gibraltar mine in British Columbia, Barrick Gold's Meikle mine in Nevada and the Montcalm mine in Ontario.
Thomas Larsen, Champion's President and C.E.O., commented, "We are fortunate and excited to have Richard join our team. His technical and operational expertise and recent mine development experience in the Labrador Trough iron ore camp will be invaluable to Champion. The Company's technical and mining team will benefit greatly from Mr. Quesnel's mining success and his input as we progress Champion's Fermont Projects through development to feasibility and production."
Champion Minerals Appoints Marc Duchesne as Project Finance Advisor
TORONTO, ONTARIO--(Marketwire - Sept. 8, 2011) - Champion Minerals Inc. ("Champion" or the "Company") (TSX:CHM)(FRANKFURT:P02) is pleased to announce that Marc Duchesne has been appointed the Company's Project Finance Advisor, effective immediately. Mr. Duchesne will work closely with Champion's senior management and with Richard Quesnel, recently appointed as Senior Technical Advisor and Head of the Company's Advisory Board.
Mr. Duchesne has over 25 years of senior financial and management experience with major Quebec-based companies, most recently as Senior Vice President of Finance for Consolidated Thompson Iron Mines Inc. ("Consolidated Thompson"), which was acquired by Cliffs Natural Resources Inc. earlier this year. Mr. Duchesne joined Consolidated Thompson in 2006 and actively participated in all phases of its growth including the successful construction and production ramp-up of the Bloom Lake iron ore mine, located in the Labrador Trough in Quebec, Canada. In addition to overseeing financial reporting, controllership and budget planning duties, Mr. Duchesne directed and supervised project capital expenditures during the crucial mine development phase, and additionally, he and the Consolidated Thompson team raised over $850 million in financing, negotiated and concluded a $240 million strategic investment by Wuhan Iron and Steel Company ("WISCO"), one of China's largest steel producers, as well as off-take agreements with WISCO, Worldlink Resources of China and SK Networks Co., a subsidiary of the third largest Korean conglomerate, SK Group.
Mr. Duchesne has also held senior financial positions with other major Quebec-based companies, including Director of Finance for Domtar Inc. and Controller and Director of Corporate Finance for Tembec Inc. Mr. Duchesne is a Chartered Accountant and a Certified Management Accountant.
Thomas Larsen, Champion's President and C.E.O., stated, "We are very fortunate to have been able to attract a very talented and experienced financial professional to our Champion team. Mr. Duchesne's broad experience in corporate and public finance and his recent success in managing project costs and financings at Consolidated Thompson will benefit Champion greatly as we progress our Fermont Projects through development to feasibility and production."
TORONTO, ONTARIO--(Marketwire - Sept. 8, 2011) - Champion Minerals Inc. ("Champion" or the "Company") (TSX:CHM)(FRANKFURT:P02) is pleased to announce that Marc Duchesne has been appointed the Company's Project Finance Advisor, effective immediately. Mr. Duchesne will work closely with Champion's senior management and with Richard Quesnel, recently appointed as Senior Technical Advisor and Head of the Company's Advisory Board.
Mr. Duchesne has over 25 years of senior financial and management experience with major Quebec-based companies, most recently as Senior Vice President of Finance for Consolidated Thompson Iron Mines Inc. ("Consolidated Thompson"), which was acquired by Cliffs Natural Resources Inc. earlier this year. Mr. Duchesne joined Consolidated Thompson in 2006 and actively participated in all phases of its growth including the successful construction and production ramp-up of the Bloom Lake iron ore mine, located in the Labrador Trough in Quebec, Canada. In addition to overseeing financial reporting, controllership and budget planning duties, Mr. Duchesne directed and supervised project capital expenditures during the crucial mine development phase, and additionally, he and the Consolidated Thompson team raised over $850 million in financing, negotiated and concluded a $240 million strategic investment by Wuhan Iron and Steel Company ("WISCO"), one of China's largest steel producers, as well as off-take agreements with WISCO, Worldlink Resources of China and SK Networks Co., a subsidiary of the third largest Korean conglomerate, SK Group.
Mr. Duchesne has also held senior financial positions with other major Quebec-based companies, including Director of Finance for Domtar Inc. and Controller and Director of Corporate Finance for Tembec Inc. Mr. Duchesne is a Chartered Accountant and a Certified Management Accountant.
Thomas Larsen, Champion's President and C.E.O., stated, "We are very fortunate to have been able to attract a very talented and experienced financial professional to our Champion team. Mr. Duchesne's broad experience in corporate and public finance and his recent success in managing project costs and financings at Consolidated Thompson will benefit Champion greatly as we progress our Fermont Projects through development to feasibility and production."
Champion Minerals Announces Inclusion to the S&P/TSX SmallCap Index
TORONTO, ONTARIO--(Marketwire - Sept. 12, 2011) - Champion Minerals Inc. ("Champion" or the "Company") (TSX:CHM)(FRANKFURT:P02) is pleased to announce that Champion will be added to the SP/TSX SmallCap Index effective after the close of trading on Friday September 16, 2011. This addition was announced after Standard Poor's Canadian Index Operations released the results of the annual review of the SP/TSX SmallCap Index after the close of trading on September 9, 2011.
Thomas Larsen, Champion's President and C.E.O., stated, "We are pleased with this latest milestone for Champion and its shareholders. Increasing our visibility and profile on the TSX, which is one of the world's pre-eminent exchanges for mineral resources companies, represents a positive step for the Company. Champion looks forward to continued advancements by increasing shareholder value through the development of the Fire Lake North Project and the advancement of complimentary Fermont projects."
TORONTO, ONTARIO--(Marketwire - Sept. 12, 2011) - Champion Minerals Inc. ("Champion" or the "Company") (TSX:CHM)(FRANKFURT:P02) is pleased to announce that Champion will be added to the SP/TSX SmallCap Index effective after the close of trading on Friday September 16, 2011. This addition was announced after Standard Poor's Canadian Index Operations released the results of the annual review of the SP/TSX SmallCap Index after the close of trading on September 9, 2011.
Thomas Larsen, Champion's President and C.E.O., stated, "We are pleased with this latest milestone for Champion and its shareholders. Increasing our visibility and profile on the TSX, which is one of the world's pre-eminent exchanges for mineral resources companies, represents a positive step for the Company. Champion looks forward to continued advancements by increasing shareholder value through the development of the Fire Lake North Project and the advancement of complimentary Fermont projects."
September 15, 2011 07:30 ET
Champion Minerals' Drillhole LM11-09 Intersects 359m Grading 30% Total Iron at the Moire Lake Project in Cluster 1 of the Fermont Holdings
- Drillhole LM11-10 intersects 249.5m grading 22.3% Total Iron including an interval of 130.7m grading 29.1% Total Iron
TORONTO, ONTARIO--(Marketwire - Sept. 15, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide an update of drilling results from the Company's Moire Lake Project in Cluster 1 of the Fermont Holdings in north-eastern Quebec. The Moire Lake Project is strategically located adjacent to ArcelorMittal's operating Mont Wright Mine and Concentrator Complex and 8km south of existing rail transport infrastructure.
Drillhole LM11-09 intersected 358.9 metres ("m") grading 30.3% Total Iron ("FeT") on the southeast side of the historic Lac Moire Occurrence1, confirming the continuity of the iron-rich Sokoman Formation around the southern fold closure. Drillhole LM11-10, located on the southwest side of the historic Lac Moire Occurrence intersected 249.5m grading 22.3% FeT including an interval of 130.7m grading 29.1% FeT. Results from hole LM11-10 successfully validate a historic intersection of 206.1m grading 24.1% FeT including an interval of 143.3m grading 34.1% FeT reported for drillhole QE612.
http://www.marketwire.com/press-release/champion-minerals-drillhole-lm11-09-intersects-359m-grading-30-total-iron-moire-lake-tsx-chm-1561418.htm
Champion Minerals' Drillhole LM11-09 Intersects 359m Grading 30% Total Iron at the Moire Lake Project in Cluster 1 of the Fermont Holdings
- Drillhole LM11-10 intersects 249.5m grading 22.3% Total Iron including an interval of 130.7m grading 29.1% Total Iron
TORONTO, ONTARIO--(Marketwire - Sept. 15, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide an update of drilling results from the Company's Moire Lake Project in Cluster 1 of the Fermont Holdings in north-eastern Quebec. The Moire Lake Project is strategically located adjacent to ArcelorMittal's operating Mont Wright Mine and Concentrator Complex and 8km south of existing rail transport infrastructure.
Drillhole LM11-09 intersected 358.9 metres ("m") grading 30.3% Total Iron ("FeT") on the southeast side of the historic Lac Moire Occurrence1, confirming the continuity of the iron-rich Sokoman Formation around the southern fold closure. Drillhole LM11-10, located on the southwest side of the historic Lac Moire Occurrence intersected 249.5m grading 22.3% FeT including an interval of 130.7m grading 29.1% FeT. Results from hole LM11-10 successfully validate a historic intersection of 206.1m grading 24.1% FeT including an interval of 143.3m grading 34.1% FeT reported for drillhole QE612.
http://www.marketwire.com/press-release/champion-minerals-drillhole-lm11-09-intersects-359m-grading-30-total-iron-moire-lake-tsx-chm-1561418.htm
September 27, 2011 07:30 ET
Champion Minerals' Drilling at Fire Lake North Includes Three Intervals of Over 150 m Grading 35% Total Iron; Updated NI 43-101 Mineral Resource Estimate to Be Announced Oct. 3, 2011
- Remaining Assays from the 84 Hole, 26,221 m Drilling Program Recently Completed at Fire Lake North Project Confirm Long Intervals of High-Grade Iron Mineralization
TORONTO, ONTARIO--(Marketwire - Sept. 27, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide the final assay results for remaining drill holes completed in 2011 at the Fire Lake North Project in Fermont, Quebec. These results complete the current phase of Champion's 2011 Drill Program at Fire Lake North, and an up-dated Mineral Resource Estimate ("MRE") for the project is scheduled to be announced on October 3, 2011.
Significant results from the final drill holes include three intervals* of over 150 m grading 35% Total Iron ("FeT") in holes FL11-64B, FL11-75 and FL11-82. Furthermore, holes, FL11-76, FL11-78 and FL11-80, have intersections ranging from 95 m to 120 m grading 34% to 41% Total Iron.
http://www.marketwire.com/press-release/champion-minerals-drilling-fire-lake-north-includes-three-intervals-over-150-m-grading-tsx-chm-1565656.htm
Champion Minerals' Drilling at Fire Lake North Includes Three Intervals of Over 150 m Grading 35% Total Iron; Updated NI 43-101 Mineral Resource Estimate to Be Announced Oct. 3, 2011
- Remaining Assays from the 84 Hole, 26,221 m Drilling Program Recently Completed at Fire Lake North Project Confirm Long Intervals of High-Grade Iron Mineralization
TORONTO, ONTARIO--(Marketwire - Sept. 27, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide the final assay results for remaining drill holes completed in 2011 at the Fire Lake North Project in Fermont, Quebec. These results complete the current phase of Champion's 2011 Drill Program at Fire Lake North, and an up-dated Mineral Resource Estimate ("MRE") for the project is scheduled to be announced on October 3, 2011.
Significant results from the final drill holes include three intervals* of over 150 m grading 35% Total Iron ("FeT") in holes FL11-64B, FL11-75 and FL11-82. Furthermore, holes, FL11-76, FL11-78 and FL11-80, have intersections ranging from 95 m to 120 m grading 34% to 41% Total Iron.
http://www.marketwire.com/press-release/champion-minerals-drilling-fire-lake-north-includes-three-intervals-over-150-m-grading-tsx-chm-1565656.htm
October 03, 2011 07:30 ET
Champion Minerals Increases NI 43-101 Resources at the Fire Lake North Project to Over One Billion Tonnes
- Measured & Indicated Resources Total 400.1 Million Tonnes grading 30.6% Total Iron
- Inferred Resources Total 661.2 Million Tonnes grading 27.7% Total Iron
TORONTO, ONTARIO--(Marketwire - Oct. 3, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide results of the updated National Instrument ("NI") 43-101 Mineral Resource Estimate completed on the Fire Lake North Project in Fermont, Quebec. Table 1 presents the current NI 43-101 categorized Mineral Resource Estimate1 at a 15% Total Iron ("FeT") cut-off grade for each of the three coarser grained specular-hematite rich deposits and provides the category totals for the Fire Lake North Project as validated by P&E Mining Consultants Inc. of Brampton, Ontario ("P&E").
http://www.marketwire.com/press-release/champion-minerals-increases-ni-43-101-resources-fire-lake-north-project-over-one-billion-tsx-chm-1567873.htm
Champion Minerals Increases NI 43-101 Resources at the Fire Lake North Project to Over One Billion Tonnes
- Measured & Indicated Resources Total 400.1 Million Tonnes grading 30.6% Total Iron
- Inferred Resources Total 661.2 Million Tonnes grading 27.7% Total Iron
TORONTO, ONTARIO--(Marketwire - Oct. 3, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide results of the updated National Instrument ("NI") 43-101 Mineral Resource Estimate completed on the Fire Lake North Project in Fermont, Quebec. Table 1 presents the current NI 43-101 categorized Mineral Resource Estimate1 at a 15% Total Iron ("FeT") cut-off grade for each of the three coarser grained specular-hematite rich deposits and provides the category totals for the Fire Lake North Project as validated by P&E Mining Consultants Inc. of Brampton, Ontario ("P&E").
http://www.marketwire.com/press-release/champion-minerals-increases-ni-43-101-resources-fire-lake-north-project-over-one-billion-tsx-chm-1567873.htm
RBC Capital Markets sieht Net Asset Value von Champion Minerals bei 6,70 CAD je Aktie
05. Oktober 2011 09:21
Outperform nach neuer Ressourcenkalkulation
Die Analysten von RBC Capital Markets beurteilen die jüngsten Entwicklungen auf dem Fire Lake North Eisenerzprojekt der kanadischen Champion Minerals (WKN A0LF1C) als positiv. Sie bewerten die Aktie, bei einer Risikoeinschätzung von „spekulativ“ mit „Outperform“.
Champion habe eine Erhöhung der Eisenerzressourcen auf Fire Lake North von fast 175% auf nun 1,061 Mrd. Tonnen gemeldet, so RBC Capital. Darin enthalten seien gemessene und angezeigte Ressourcen von 400,1 Mio. Tonnen bei 30,6% Gesamteisengehalt und eine geschlussfolgerte Ressource von 661,2 Mio. Tonnen bei 27,7% Gesamteisengehalt. Bislang habe die Ressource lediglich 388 Mio. Tonnen bei 28,9% Eisen betragen, so RBC.
Zudem habe Champion erklärt, dass die neue Ressourcenschätzung einen großen, positiven Einfluss auf die aktualisierte PEA (Preliminary Economic Assessment) haben sollte. Diese sei bereits im November 2011 zu erwarten. Das Unternehmen glaube, führt RBC weiter aus, dass Fire Lake North ausreichende Ressourcen enthalte, um die Konzentratproduktion über das geplante Volumen von 7 Mio. Tonnen pro Jahr hinaus zu steigern.
Der Anstieg der Ressource, so die Analysten weiter, biete erhebliches Aufwärtspotenzial bei der Bewertung. Nehme man an, dass 85% der neuen optimierten, in den geplanten Gruben enthaltenen Ressourcen in der anstehenden PEA enthalten sein werden – wie Champion es andeutet – und die Produktion auf 8 Mio. Tonnen pro Jahr ausgeweitet wird, steige der von RBC berechnete Net Asset Value von 4,44 CAD pro Aktie auf 6,70 CAD.
Positiv sehen die Analysten ebenfalls, dass Champion erklärte, Arbeitsprogramme und Studien für die Fertigstellung der Machbarkeitsstudie zu Fire Lake North schon vor Erhalt der PEA beschleunigen zu wollen. Die Analysten weisen zudem darauf hin, dass auf den Champion Minerals auf seinen Fermont-Liegenschaften inklusive Fire Lake North nun 2,2 Mrd. Tonnen Eisenerz nachgewiesen habe und noch 620 Mio. Tonnen, nicht NI 43-101 konforme, historische Ressourcen vorhanden seien.
Die Analysten von RBC Capital Markets sind deshalb der Ansicht, dass Champion Investoren Zugang zu einem Eisenerzentwicklungsunternehmen mit außergewöhnlichem Potenzial auf weiteres Ressourcenwachstum bietet. Zwar bestünden weiterhin beträchtliche Entwicklungsrisiken, auf dem aktuellen Niveau aber halte man die Aktien angesichts der eigenen Bewertung, des Potenzials für weitere positive Nachrichten in Kürze, des Explorationspotenzials und der langfristig gegebenen Chance auf eine Übernahme von Champion für attraktiv bewertet.
Die hier angebotenen Artikel stellen keine Kauf- bzw. Verkaufsempfehlungen dar, weder explizit noch implizit sind sie als Zusicherung etwaiger Kursentwicklungen zu verstehen. Die GOLDINVEST Media GmbH und ihre Autoren schließen jede Haftung diesbezüglich aus. Die Artikel und Berichte dienen ausschließlich der Information der Leser und stellen keine wie immer geartete Handlungsaufforderung dar. Zwischen der GOLDINVEST Media GmbH und den Lesern dieser Artikel entsteht keinerlei Vertrags- und/oder Beratungsverhältnis. Wir weisen darauf hin, dass Partner, Autoren und Mitarbeiter der GOLDINVEST Media GmbH Aktien der jeweils angesprochenen Unternehmen halten oder halten können und somit ein möglicher Interessenkonflikt besteht.
05. Oktober 2011 09:21
Outperform nach neuer Ressourcenkalkulation
Die Analysten von RBC Capital Markets beurteilen die jüngsten Entwicklungen auf dem Fire Lake North Eisenerzprojekt der kanadischen Champion Minerals (WKN A0LF1C) als positiv. Sie bewerten die Aktie, bei einer Risikoeinschätzung von „spekulativ“ mit „Outperform“.
Champion habe eine Erhöhung der Eisenerzressourcen auf Fire Lake North von fast 175% auf nun 1,061 Mrd. Tonnen gemeldet, so RBC Capital. Darin enthalten seien gemessene und angezeigte Ressourcen von 400,1 Mio. Tonnen bei 30,6% Gesamteisengehalt und eine geschlussfolgerte Ressource von 661,2 Mio. Tonnen bei 27,7% Gesamteisengehalt. Bislang habe die Ressource lediglich 388 Mio. Tonnen bei 28,9% Eisen betragen, so RBC.
Zudem habe Champion erklärt, dass die neue Ressourcenschätzung einen großen, positiven Einfluss auf die aktualisierte PEA (Preliminary Economic Assessment) haben sollte. Diese sei bereits im November 2011 zu erwarten. Das Unternehmen glaube, führt RBC weiter aus, dass Fire Lake North ausreichende Ressourcen enthalte, um die Konzentratproduktion über das geplante Volumen von 7 Mio. Tonnen pro Jahr hinaus zu steigern.
Der Anstieg der Ressource, so die Analysten weiter, biete erhebliches Aufwärtspotenzial bei der Bewertung. Nehme man an, dass 85% der neuen optimierten, in den geplanten Gruben enthaltenen Ressourcen in der anstehenden PEA enthalten sein werden – wie Champion es andeutet – und die Produktion auf 8 Mio. Tonnen pro Jahr ausgeweitet wird, steige der von RBC berechnete Net Asset Value von 4,44 CAD pro Aktie auf 6,70 CAD.
Positiv sehen die Analysten ebenfalls, dass Champion erklärte, Arbeitsprogramme und Studien für die Fertigstellung der Machbarkeitsstudie zu Fire Lake North schon vor Erhalt der PEA beschleunigen zu wollen. Die Analysten weisen zudem darauf hin, dass auf den Champion Minerals auf seinen Fermont-Liegenschaften inklusive Fire Lake North nun 2,2 Mrd. Tonnen Eisenerz nachgewiesen habe und noch 620 Mio. Tonnen, nicht NI 43-101 konforme, historische Ressourcen vorhanden seien.
Die Analysten von RBC Capital Markets sind deshalb der Ansicht, dass Champion Investoren Zugang zu einem Eisenerzentwicklungsunternehmen mit außergewöhnlichem Potenzial auf weiteres Ressourcenwachstum bietet. Zwar bestünden weiterhin beträchtliche Entwicklungsrisiken, auf dem aktuellen Niveau aber halte man die Aktien angesichts der eigenen Bewertung, des Potenzials für weitere positive Nachrichten in Kürze, des Explorationspotenzials und der langfristig gegebenen Chance auf eine Übernahme von Champion für attraktiv bewertet.
Die hier angebotenen Artikel stellen keine Kauf- bzw. Verkaufsempfehlungen dar, weder explizit noch implizit sind sie als Zusicherung etwaiger Kursentwicklungen zu verstehen. Die GOLDINVEST Media GmbH und ihre Autoren schließen jede Haftung diesbezüglich aus. Die Artikel und Berichte dienen ausschließlich der Information der Leser und stellen keine wie immer geartete Handlungsaufforderung dar. Zwischen der GOLDINVEST Media GmbH und den Lesern dieser Artikel entsteht keinerlei Vertrags- und/oder Beratungsverhältnis. Wir weisen darauf hin, dass Partner, Autoren und Mitarbeiter der GOLDINVEST Media GmbH Aktien der jeweils angesprochenen Unternehmen halten oder halten können und somit ein möglicher Interessenkonflikt besteht.
October 06, 2011 07:30 ET
Champion Minerals Intersects 503 Metres Grading 31% Total Iron at Its Fermont Holdings' Moire Lake Project
TORONTO, ONTARIO--(Marketwire - Oct. 6, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide the latest assay results from the Company's Moire Lake Project, which is strategically located immediately east of and contiguous to ArcelorMittal's Mont Wright Mine property, and is 8 km south of existing rail transport infrastructure.
Drill hole LM11-12 intersected 503.4 metres grading 31.2% Total Iron ("FeT") on the southeast side of the historic Lac Moire Occurrence(1). Drill hole, LM11-16, located approximately 400 m northeast and along strike of drill hole LM11-12, intersected 390.1 m grading 27.6% FeT and included an interval of 237.1 m grading 31.5% FeT. Drill hole LM11-09, located approximately 400m northeast of LM11-16, intersected 383.4 m of iron formation grading 30.3% FeT (see Champion's press release dated September 15, 2011). These three drill holes delineate approximately 1 kilometre of iron formation along strike, with down-hole intersections of 383 m to 503 m (core-length), and confirm the continuity of the iron-rich Sokoman Formation around the thickened southeast fold closure.
Tom Larsen, Champion's President and CEO commented, "The latest results from our 2011 drill program at Moire Lake further confirm the high grade and continuity of the iron formations present on the property which is strategically located in the Labrador Trough. The combined thickness and assay results from Moire Lake are significant and we expect the new resource estimate will identify a sizeable increase in the historical resource."
http://www.marketwire.com/press-rel....moire-tsx-chm-1569821.htm
Champion Minerals Intersects 503 Metres Grading 31% Total Iron at Its Fermont Holdings' Moire Lake Project
TORONTO, ONTARIO--(Marketwire - Oct. 6, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide the latest assay results from the Company's Moire Lake Project, which is strategically located immediately east of and contiguous to ArcelorMittal's Mont Wright Mine property, and is 8 km south of existing rail transport infrastructure.
Drill hole LM11-12 intersected 503.4 metres grading 31.2% Total Iron ("FeT") on the southeast side of the historic Lac Moire Occurrence(1). Drill hole, LM11-16, located approximately 400 m northeast and along strike of drill hole LM11-12, intersected 390.1 m grading 27.6% FeT and included an interval of 237.1 m grading 31.5% FeT. Drill hole LM11-09, located approximately 400m northeast of LM11-16, intersected 383.4 m of iron formation grading 30.3% FeT (see Champion's press release dated September 15, 2011). These three drill holes delineate approximately 1 kilometre of iron formation along strike, with down-hole intersections of 383 m to 503 m (core-length), and confirm the continuity of the iron-rich Sokoman Formation around the thickened southeast fold closure.
Tom Larsen, Champion's President and CEO commented, "The latest results from our 2011 drill program at Moire Lake further confirm the high grade and continuity of the iron formations present on the property which is strategically located in the Labrador Trough. The combined thickness and assay results from Moire Lake are significant and we expect the new resource estimate will identify a sizeable increase in the historical resource."
http://www.marketwire.com/press-rel....moire-tsx-chm-1569821.htm
October 20, 2011 07:30 ET
Champion Minerals Intersects 401.5 m Grading 30.7% Total Iron at the Oil Can Project, Adjacent to Its Flagship Fire Lake North Project Near Fermont, Quebec
- First Three Drill Holes of 8,000 m Planned Program Intersect Magnetite-Hematite Iron Formation From 191 m to 402 m in Length.
- Drill Hole OC11-02 Intersects 401.5 m Grading 30.7% Total Iron Including a 213.5 m Interval Grading 33.1% Total Iron
TORONTO, ONTARIO--(Marketwire - Oct. 20, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide assay results from the first three drill holes completed on the Company's Oil Can Project, located immediately northeast of and contiguous with the Company's flagship Fire Lake North Project in the Fermont Iron Ore District, Quebec.
Table 1 provides a list of selected composite assay results from the first three drill holes.
.
.
.
http://www.marketwire.com/press-release/champion-minerals-intersects-4015-m-grading-307-total-iron-oil-can-project-adjacent-tsx-chm-1575620.htm
Champion Minerals Intersects 401.5 m Grading 30.7% Total Iron at the Oil Can Project, Adjacent to Its Flagship Fire Lake North Project Near Fermont, Quebec
- First Three Drill Holes of 8,000 m Planned Program Intersect Magnetite-Hematite Iron Formation From 191 m to 402 m in Length.
- Drill Hole OC11-02 Intersects 401.5 m Grading 30.7% Total Iron Including a 213.5 m Interval Grading 33.1% Total Iron
TORONTO, ONTARIO--(Marketwire - Oct. 20, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide assay results from the first three drill holes completed on the Company's Oil Can Project, located immediately northeast of and contiguous with the Company's flagship Fire Lake North Project in the Fermont Iron Ore District, Quebec.
Table 1 provides a list of selected composite assay results from the first three drill holes.
.
.
.
http://www.marketwire.com/press-release/champion-minerals-intersects-4015-m-grading-307-total-iron-oil-can-project-adjacent-tsx-chm-1575620.htm
07.11.2011 / 13:31
---------------------------------------------------------------------
PRESSEMITTEILUNG
Champion Minerals kündigt Definitionsbohrungen im Rahmen einer
Machbarkeitsstudie für das Fire-Lake-North-Projekt auf der
Fermont-Liegenschaft in Quebec an
Toronto (Kanada), 7. November 2011 - CHAMPION MINERALS INC. (TSX: CHM; FSE:
P02) ('Champion', oder das 'Unternehmen') teilt mit, dass die
Definitionsbohrungen zur Ressourcenbestimmung im Rahmen des
Vorzeigeprojektes des Unternehmens, dem Projekt Fire Lake North auf der
Fermont-Liegenschaft in Quebec, eingeleitet wurden.
Zu den Ergebnissen der kürzlich abgeschlossenen Mineralressourcenschätzung
für das Fire-Lake-North-Projekt nach National Instrument 43-101 gehören
gemessene und angezeigte Ressourcen von 400,1 Mio. Tonnen mit einem
Gesamteisengehalt ('FeT') von 30,6 % und geschlussfolgerte Ressourcen von
661,2 Mio. Tonnen mit einem FeT von 27,7 % bei einem Cutoff-Gehalt1 von 15
% FeT (siehe Champions Pressemitteilung vom 3. Oktober 2011).
Champion gab im November 2010 die positiven Ergebnisse einer vorläufigen
Wirtschaftlichkeitsstudie [Preliminary Economic Assessment] ('PEA') im
Rahmen des Fire-Lake-North-Projekts bekannt, zu denen ein Nettobarwert [Net
Present Value] (NPV) von 1,295 Mrd. USD bei einem Abzinsungssatz von 8 %
und einer inneren Ertragsrate [Internal Rate of Return] (IRR) von 24,8 %
gehörten; dies basierte auf geschätzten Mineralressourcen von insgesamt 388
Mio. Tonnen bei einem FeT von 29 % und demselben Cutoff-Gehalt von 15%
(siehe Champions Pressemitteilung vom 3. November 2010).
Champion verfügt im Rahmen des Fire-Lake-North-Projekts über
Mineralressourcen in Höhe von 1 Mrd. Tonnen, was bedeutend mehr ist, als
noch im Rahmen der PEA von 2010 geschätzt wurde. Für die Veröffentlichung
der neuen PEA, die von BBA Inc. Mitte November 2011 herausgegeben werden
soll, rechnet man mit erhöhter Wirtschaftlichkeit*. Dementsprechend setzt
sich Champion aktiv für die Durchführung einer Machbarkeitsstudie für das
Fire-Lake-North-Projekt im Jahre 2012 ein.
*Bei den Aussagen bezüglich einer voraussichtlich höheren
Wirtschaftlichkeit in diesem Absatz handelt es sich um 'zukunftsgerichtete
Aussagen' und nicht um historische Fakten. Der Leser sei hiermit darauf
hingewiesen, dass derartige Aussagen keine Garantien bezüglich zukünftiger
Ergebnisse beinhalten, und dass sich die tatsächlichen Entwicklungen und
Ergebnisse unter Umständen stark von den in dieser Pressemitteilung
aufgeführten Entwicklungen und Ergebnissen unterscheiden können.
Noch vor Eingang der Ergebnisse der aktualisierten PEA verlagert Champion
Bohrgeräte des Oil-Can-Projekts, in das westliche Gebiet des
Fire-Lake-North-Projekts, um mit den Definitionsbohrungen beginnen zu
können. Ziel des Bohrprogramms ist es, den Großteil der aktuellen
Ressourcen in die Kategorien gemessen und angezeigt zu überführen, um sie
im Rahmen des Produktionsplans der Machbarkeitsstudie von 2012 zu nutzen.
Champion hat Knight-Piésold Ltd. damit beauftragt, die geotechnischen
Untersuchungen vollständig durchzuführen, die im Zuge der
Tagebau-Komponente der Machbarkeitsstudie erforderlich sind. Teams von
Geotechnikern werden voraussichtlich Mitte November mit der Auswertung der
Bohrkerne beginnen. Neben den Definitionsbohrungen und den geotechnischen
Bohrungen umfasst die Machbarkeitsstudie stratigraphische Bohrungen an den
Standorten der vorgeschlagenen Absetzteiche, Müllkippen und Abbaugebiete.
Champion beabsichtigt, die besagten Bohrlöcher bei Erhalt der neuen PEA
anzulegen und fertigzustellen.
Tom Larsen, Präsident und CEO von Champion, kommentierte: 'Dies sind
aufregende Zeiten, in denen Champion sich beim Fire-Lake-North-Projekt der
Machbarkeitsstudie und der Entwicklungsphase nähert. Champions Zukunft
sieht viel versprechend aus, da nun ein Meilenstein auf ihrem Weg zum
Eisenproduzenten erreicht wurde. Wir gehen fest davon aus, dass die Zahlen
der PEA solide sein werden, da das geschätzte Ausmaß der Ressourcen, die
unsere Explorationsteams aufgedeckt haben, besser als erwartet ausgefallen
ist, und wir uns bereits auf die Veröffentlichung der Zahlen der PEA in den
kommenden Wochen freuen.'
Nach erfolgter Fertigstellung der verbleibenden fünf Bohrlöcher des
Oil-Can-Projekts, die für 2011 angesetzt wurde, werden die übrigen
Bohrgeräte nach Fire Lake North verlegt. Anfang 2012 kommen weitere
Bohrgeräte zum Einsatz, um die Definitionsbohrungen im Rahmen der
Machbarkeitsstudie noch schneller abzuschließen. Anfang 2012 werden eine
Mineralressourcenschätzung sowie eine Wirtschaftlichkeitsstudie für das
Oil-Can-Projekt folgen, das sich nördlich des Fire-Lake-North-Projekts
befindet und daran angrenzt.
Die Fermont-Eisenliegenschaften
Champions Fermont-Liegenschaften umfassen siebzehn Liegenschaften, von
denen drei - Fire Lake North, Bellechasse und Harvey-Tuttle - insgesamt
gemessene und angezeigte Mineralressourcen gemäß National Instrument 43-101
in Höhe von 400 Mio. Tonnen und einem FeT von 30,6 % und vermutete
Mineralressourcen in Höhe von geschätzten 1,82 Mrd. Tonnen und einem FeT
von 25,4 % sowie einem Cutoff-Gehalt1 von 15 % umfassen. Sieben von
Champions restlichen vierzehn Liegenschaften enthalten gemäß historischen
Mineralressourcenschätzungen zusammen Mineralressourcen von 620 Mio. Tonnen
bei einem FeT von 31 %.
Über Champion Minerals Inc.
Champion Minerals ist ein Explorations- und Entwicklungsunternehmen mit
Geschäftsstellen in Montreal und Toronto, das sich auf die Entdeckung und
Erschließung beträchtlicher Eisenerzressourcen in den Provinzen Quebec,
Neufundland und Labrador konzentriert. Die Projekte des Unternehmens
umfassen: die Fermont-Liegenschaften in Quebec, im Gemeinschaftsbesitz von
Champion (Beteiligung 82,5 %) und Fancamp Exploration Ltd. (Beteiligung
17,5 %), sowie die Attikamagen-Eisenliegenschaften in Quebec und Labrador.
Champions Fermont-Liegenschaften, zu denen auch das Vorzeigeprojekt in Fire
Lake North gehört, befinden sich in Kanadas großen Eisenerzgebiet, das sich
nahe der drei produzierenden Minen befindet. Zu Champions Team und
Aufsichtsrat zählen Experten für den Bergbau und die Exploration, die über
umfassendes Fachwissen im Bereich Eisenerz verfügen, und dadurch in der
Lage sind, das Fire-Lake-North-Projekt in Richtung der Produktion
voranzutreiben.
1) Die aktuellen Mineralressourcenschätzungen wurden auf Grundlage der
CIM-Normen für Mineralressourcen und -reserven, Definitionen und
Richtlinien des Canadian Institute of Mining, Metallurgy and Petroleum
(CIM) geschätzt, die der ständige CIM-Ausschuss für Definitionen von
Reserven erstellt hat. Die aktuellen Mineralressourcenschätzungen wurden
von P&E Mining Consultants Inc. (Brampton, Ontario) vorbereitet und
genehmigt von Antoine Yassa, P. Geo und qualifizierter Experte bei P&E.
Mineralressourcen, bei denen es sich nicht um Mineralreserven handelt, sind
aus wirtschaftlicher Sicht nicht rentabel. Die Mineralressourcenschätzung
kann sich aufgrund von Problematiken im Rahmen von Umweltschutz,
Genehmigungen, Rechtsfragen, Eigentumsansprüchen, Besteuerungen,
Gesellschaftspolitik, Marketing und aufgrund weiterer relevanter
Problematiken wesentlich von den tatsächlichen Werten unterscheiden.
2) Alle historischen Mineralressourcenschätzungen, die in dieser Mitteilung
enthalten sind, entsprechen nicht den Normen für Mineralressourcen und
-reserven NI 43-101 und gelten daher nicht als verlässlich. Ein
Sachverständiger hat sich nicht ausreichend damit befasst, die besagten
historischen Mineralressourcendaten auf den aktuellen Stand zu bringen,
sodass jene konform mit der Norm NI 43-101 sind.
Die in dieser Pressemitteilung enthaltenen technischen Informationen wurden
von Bruce Mitton, P. Geo., Vizepräsident für Exploration des Unternehmens
und qualifizierte Person gemäß den NI-43-101-Standards, erstellt, geprüft
und genehmigt.
Weitere Informationen erhalten Sie von Thomas G. Larsen, Präsident und
Geschäftsführer, Jorge Estepa, Vizepräsident, und Salisha Hosein,
Geschäftsführerin, Investor Relations, unter der Telefonnummer (416)
866-2200.
Besuchen Sie die Website von Champion: www.championminerals.com
Ende der Corporate News
---------------------------------------------------------------------
PRESSEMITTEILUNG
Champion Minerals kündigt Definitionsbohrungen im Rahmen einer
Machbarkeitsstudie für das Fire-Lake-North-Projekt auf der
Fermont-Liegenschaft in Quebec an
Toronto (Kanada), 7. November 2011 - CHAMPION MINERALS INC. (TSX: CHM; FSE:
P02) ('Champion', oder das 'Unternehmen') teilt mit, dass die
Definitionsbohrungen zur Ressourcenbestimmung im Rahmen des
Vorzeigeprojektes des Unternehmens, dem Projekt Fire Lake North auf der
Fermont-Liegenschaft in Quebec, eingeleitet wurden.
Zu den Ergebnissen der kürzlich abgeschlossenen Mineralressourcenschätzung
für das Fire-Lake-North-Projekt nach National Instrument 43-101 gehören
gemessene und angezeigte Ressourcen von 400,1 Mio. Tonnen mit einem
Gesamteisengehalt ('FeT') von 30,6 % und geschlussfolgerte Ressourcen von
661,2 Mio. Tonnen mit einem FeT von 27,7 % bei einem Cutoff-Gehalt1 von 15
% FeT (siehe Champions Pressemitteilung vom 3. Oktober 2011).
Champion gab im November 2010 die positiven Ergebnisse einer vorläufigen
Wirtschaftlichkeitsstudie [Preliminary Economic Assessment] ('PEA') im
Rahmen des Fire-Lake-North-Projekts bekannt, zu denen ein Nettobarwert [Net
Present Value] (NPV) von 1,295 Mrd. USD bei einem Abzinsungssatz von 8 %
und einer inneren Ertragsrate [Internal Rate of Return] (IRR) von 24,8 %
gehörten; dies basierte auf geschätzten Mineralressourcen von insgesamt 388
Mio. Tonnen bei einem FeT von 29 % und demselben Cutoff-Gehalt von 15%
(siehe Champions Pressemitteilung vom 3. November 2010).
Champion verfügt im Rahmen des Fire-Lake-North-Projekts über
Mineralressourcen in Höhe von 1 Mrd. Tonnen, was bedeutend mehr ist, als
noch im Rahmen der PEA von 2010 geschätzt wurde. Für die Veröffentlichung
der neuen PEA, die von BBA Inc. Mitte November 2011 herausgegeben werden
soll, rechnet man mit erhöhter Wirtschaftlichkeit*. Dementsprechend setzt
sich Champion aktiv für die Durchführung einer Machbarkeitsstudie für das
Fire-Lake-North-Projekt im Jahre 2012 ein.
*Bei den Aussagen bezüglich einer voraussichtlich höheren
Wirtschaftlichkeit in diesem Absatz handelt es sich um 'zukunftsgerichtete
Aussagen' und nicht um historische Fakten. Der Leser sei hiermit darauf
hingewiesen, dass derartige Aussagen keine Garantien bezüglich zukünftiger
Ergebnisse beinhalten, und dass sich die tatsächlichen Entwicklungen und
Ergebnisse unter Umständen stark von den in dieser Pressemitteilung
aufgeführten Entwicklungen und Ergebnissen unterscheiden können.
Noch vor Eingang der Ergebnisse der aktualisierten PEA verlagert Champion
Bohrgeräte des Oil-Can-Projekts, in das westliche Gebiet des
Fire-Lake-North-Projekts, um mit den Definitionsbohrungen beginnen zu
können. Ziel des Bohrprogramms ist es, den Großteil der aktuellen
Ressourcen in die Kategorien gemessen und angezeigt zu überführen, um sie
im Rahmen des Produktionsplans der Machbarkeitsstudie von 2012 zu nutzen.
Champion hat Knight-Piésold Ltd. damit beauftragt, die geotechnischen
Untersuchungen vollständig durchzuführen, die im Zuge der
Tagebau-Komponente der Machbarkeitsstudie erforderlich sind. Teams von
Geotechnikern werden voraussichtlich Mitte November mit der Auswertung der
Bohrkerne beginnen. Neben den Definitionsbohrungen und den geotechnischen
Bohrungen umfasst die Machbarkeitsstudie stratigraphische Bohrungen an den
Standorten der vorgeschlagenen Absetzteiche, Müllkippen und Abbaugebiete.
Champion beabsichtigt, die besagten Bohrlöcher bei Erhalt der neuen PEA
anzulegen und fertigzustellen.
Tom Larsen, Präsident und CEO von Champion, kommentierte: 'Dies sind
aufregende Zeiten, in denen Champion sich beim Fire-Lake-North-Projekt der
Machbarkeitsstudie und der Entwicklungsphase nähert. Champions Zukunft
sieht viel versprechend aus, da nun ein Meilenstein auf ihrem Weg zum
Eisenproduzenten erreicht wurde. Wir gehen fest davon aus, dass die Zahlen
der PEA solide sein werden, da das geschätzte Ausmaß der Ressourcen, die
unsere Explorationsteams aufgedeckt haben, besser als erwartet ausgefallen
ist, und wir uns bereits auf die Veröffentlichung der Zahlen der PEA in den
kommenden Wochen freuen.'
Nach erfolgter Fertigstellung der verbleibenden fünf Bohrlöcher des
Oil-Can-Projekts, die für 2011 angesetzt wurde, werden die übrigen
Bohrgeräte nach Fire Lake North verlegt. Anfang 2012 kommen weitere
Bohrgeräte zum Einsatz, um die Definitionsbohrungen im Rahmen der
Machbarkeitsstudie noch schneller abzuschließen. Anfang 2012 werden eine
Mineralressourcenschätzung sowie eine Wirtschaftlichkeitsstudie für das
Oil-Can-Projekt folgen, das sich nördlich des Fire-Lake-North-Projekts
befindet und daran angrenzt.
Die Fermont-Eisenliegenschaften
Champions Fermont-Liegenschaften umfassen siebzehn Liegenschaften, von
denen drei - Fire Lake North, Bellechasse und Harvey-Tuttle - insgesamt
gemessene und angezeigte Mineralressourcen gemäß National Instrument 43-101
in Höhe von 400 Mio. Tonnen und einem FeT von 30,6 % und vermutete
Mineralressourcen in Höhe von geschätzten 1,82 Mrd. Tonnen und einem FeT
von 25,4 % sowie einem Cutoff-Gehalt1 von 15 % umfassen. Sieben von
Champions restlichen vierzehn Liegenschaften enthalten gemäß historischen
Mineralressourcenschätzungen zusammen Mineralressourcen von 620 Mio. Tonnen
bei einem FeT von 31 %.
Über Champion Minerals Inc.
Champion Minerals ist ein Explorations- und Entwicklungsunternehmen mit
Geschäftsstellen in Montreal und Toronto, das sich auf die Entdeckung und
Erschließung beträchtlicher Eisenerzressourcen in den Provinzen Quebec,
Neufundland und Labrador konzentriert. Die Projekte des Unternehmens
umfassen: die Fermont-Liegenschaften in Quebec, im Gemeinschaftsbesitz von
Champion (Beteiligung 82,5 %) und Fancamp Exploration Ltd. (Beteiligung
17,5 %), sowie die Attikamagen-Eisenliegenschaften in Quebec und Labrador.
Champions Fermont-Liegenschaften, zu denen auch das Vorzeigeprojekt in Fire
Lake North gehört, befinden sich in Kanadas großen Eisenerzgebiet, das sich
nahe der drei produzierenden Minen befindet. Zu Champions Team und
Aufsichtsrat zählen Experten für den Bergbau und die Exploration, die über
umfassendes Fachwissen im Bereich Eisenerz verfügen, und dadurch in der
Lage sind, das Fire-Lake-North-Projekt in Richtung der Produktion
voranzutreiben.
1) Die aktuellen Mineralressourcenschätzungen wurden auf Grundlage der
CIM-Normen für Mineralressourcen und -reserven, Definitionen und
Richtlinien des Canadian Institute of Mining, Metallurgy and Petroleum
(CIM) geschätzt, die der ständige CIM-Ausschuss für Definitionen von
Reserven erstellt hat. Die aktuellen Mineralressourcenschätzungen wurden
von P&E Mining Consultants Inc. (Brampton, Ontario) vorbereitet und
genehmigt von Antoine Yassa, P. Geo und qualifizierter Experte bei P&E.
Mineralressourcen, bei denen es sich nicht um Mineralreserven handelt, sind
aus wirtschaftlicher Sicht nicht rentabel. Die Mineralressourcenschätzung
kann sich aufgrund von Problematiken im Rahmen von Umweltschutz,
Genehmigungen, Rechtsfragen, Eigentumsansprüchen, Besteuerungen,
Gesellschaftspolitik, Marketing und aufgrund weiterer relevanter
Problematiken wesentlich von den tatsächlichen Werten unterscheiden.
2) Alle historischen Mineralressourcenschätzungen, die in dieser Mitteilung
enthalten sind, entsprechen nicht den Normen für Mineralressourcen und
-reserven NI 43-101 und gelten daher nicht als verlässlich. Ein
Sachverständiger hat sich nicht ausreichend damit befasst, die besagten
historischen Mineralressourcendaten auf den aktuellen Stand zu bringen,
sodass jene konform mit der Norm NI 43-101 sind.
Die in dieser Pressemitteilung enthaltenen technischen Informationen wurden
von Bruce Mitton, P. Geo., Vizepräsident für Exploration des Unternehmens
und qualifizierte Person gemäß den NI-43-101-Standards, erstellt, geprüft
und genehmigt.
Weitere Informationen erhalten Sie von Thomas G. Larsen, Präsident und
Geschäftsführer, Jorge Estepa, Vizepräsident, und Salisha Hosein,
Geschäftsführerin, Investor Relations, unter der Telefonnummer (416)
866-2200.
Besuchen Sie die Website von Champion: www.championminerals.com
Ende der Corporate News
Champion Minerals to Present at Scotia Capital Mining Conference 2011
TORONTO, ONTARIO -- (Marketwire) -- 11/15/11 -- Champion Minerals Inc. ("Champion Minerals" or the "Company") (TSX:CHM)(FRANKFURT:P02) today announced that the Company will be presenting at the Scotia Capital Mining Conference 2011 on Tuesday, November 29, 2011 at 11:40 a.m. eastern time. The conference will take place at Le Royal Meridien King Edward Hotel (Kensington Ballroom) in Toronto, Canada. An audio presentation will be made available to all investors via webcast on Champion Minerals' website at www.championminerals.com.
Champion Minerals is currently completing the 2011 drill program at its Fermont iron ore projects located in Quebec. The Fermont Holdings host 2.2 billion tonnes of NI 43-101 compliant Mineral Resources and the company is focused on updating the November 2010 preliminary economic assessment (PEA) on its' flagship Fire Lake North Development Project. The updated PEA is expected before the end of November 2011, with a feasibility study to follow in 2012.
TORONTO, ONTARIO -- (Marketwire) -- 11/15/11 -- Champion Minerals Inc. ("Champion Minerals" or the "Company") (TSX:CHM)(FRANKFURT:P02) today announced that the Company will be presenting at the Scotia Capital Mining Conference 2011 on Tuesday, November 29, 2011 at 11:40 a.m. eastern time. The conference will take place at Le Royal Meridien King Edward Hotel (Kensington Ballroom) in Toronto, Canada. An audio presentation will be made available to all investors via webcast on Champion Minerals' website at www.championminerals.com.
Champion Minerals is currently completing the 2011 drill program at its Fermont iron ore projects located in Quebec. The Fermont Holdings host 2.2 billion tonnes of NI 43-101 compliant Mineral Resources and the company is focused on updating the November 2010 preliminary economic assessment (PEA) on its' flagship Fire Lake North Development Project. The updated PEA is expected before the end of November 2011, with a feasibility study to follow in 2012.
November 21, 2011 07:00 ET
Champion Minerals Releases Updated Preliminary Economic Assessment Study for Fire Lake North Project and Initiates Feasibility Study
- Based on a 25 year financial analysis, Fire Lake North Base Case has a Net Present Value of $4 billion at a discounted cash flow rate of 8%
- The Internal Rate of Return for the project is 41.5% and the payback period is 2.3 years
- Annual production rate of 10 million tonnes of concentrate for the first 5 years
- Average annual production of 8.7 million tonnes of iron concentrate grading 65% total iron
- In Pit resources are sufficient for a 40 year mine life
- Study recommends investigating the option to double the production rate based on the 922 million Tonne "In Pit" resources
TORONTO, ONTARIO--(Marketwire - Nov. 21, 2011) - Champion Minerals Inc. ("Champion" or the "Company") (TSX:CHM)(FRANKFURT:P02) is pleased to announce the results of its updated Preliminary Economic Assessment ("PEA") study on the Fire Lake North Project that was performed by BBA Inc. ("BBA"). Concentrator production would average 8.7 million tonnes of concentrate per year ("Mtpa") grading 65% iron for the first 25 of the 40 year mine life; however, the first five years of the financial model will average nearly 10 Mtpa of concentrate production.
The 2011 PEA study produced a Net Present Value of $4 billion at a discounted cash flow rate of 8% with an Internal Rate of Return ("IRR") of 41.5% and a capital payback period of 2.3 years. The US$ exchange rate is assumed to be at par value with the Canadian dollar. Table 1 provides the Net Present Values calculated at various discounted cash flow rates for the Base Case production scenario.
The financial analysis in the PEA study used a price of $115 per tonne of iron concentrate ($/tonne is FOB Sept-Iles), the mine life in the study is 40 years and the capital payback period is 2.3 years.
.
.
.
http://www.marketwire.com/press-release/champion-minerals-releases-updated-preliminary-economic-assessment-study-fire-lake-north-tsx-chm-1589265.htm
Champion Minerals Releases Updated Preliminary Economic Assessment Study for Fire Lake North Project and Initiates Feasibility Study
- Based on a 25 year financial analysis, Fire Lake North Base Case has a Net Present Value of $4 billion at a discounted cash flow rate of 8%
- The Internal Rate of Return for the project is 41.5% and the payback period is 2.3 years
- Annual production rate of 10 million tonnes of concentrate for the first 5 years
- Average annual production of 8.7 million tonnes of iron concentrate grading 65% total iron
- In Pit resources are sufficient for a 40 year mine life
- Study recommends investigating the option to double the production rate based on the 922 million Tonne "In Pit" resources
TORONTO, ONTARIO--(Marketwire - Nov. 21, 2011) - Champion Minerals Inc. ("Champion" or the "Company") (TSX:CHM)(FRANKFURT:P02) is pleased to announce the results of its updated Preliminary Economic Assessment ("PEA") study on the Fire Lake North Project that was performed by BBA Inc. ("BBA"). Concentrator production would average 8.7 million tonnes of concentrate per year ("Mtpa") grading 65% iron for the first 25 of the 40 year mine life; however, the first five years of the financial model will average nearly 10 Mtpa of concentrate production.
The 2011 PEA study produced a Net Present Value of $4 billion at a discounted cash flow rate of 8% with an Internal Rate of Return ("IRR") of 41.5% and a capital payback period of 2.3 years. The US$ exchange rate is assumed to be at par value with the Canadian dollar. Table 1 provides the Net Present Values calculated at various discounted cash flow rates for the Base Case production scenario.
The financial analysis in the PEA study used a price of $115 per tonne of iron concentrate ($/tonne is FOB Sept-Iles), the mine life in the study is 40 years and the capital payback period is 2.3 years.
.
.
.
http://www.marketwire.com/press-release/champion-minerals-releases-updated-preliminary-economic-assessment-study-fire-lake-north-tsx-chm-1589265.htm
NUR FÜR DEN INTERNEN GEBRAUCH
Nov 22, 2011 6:31 PM
Champion scales up Fire Lake North
Vancouver - Champion Minerals (CHM-T) has released an updated preliminary economic assessment on its 82.5%-owned Fire Lake North project that significantly increases the net present value and resource size.
The new PEA outlines an open pit design of 921.8 million tonnes grading 28.8% total iron based on an 8% cut-off grade and incluedes measured, indicated and inferred resources. The previous PEA, released in late 2010, was based on an 'in-pit' resource of 250.5 million tonnes grading 30.4% iron at a 10% cut-off.
The increased resources, along with an increase in the assumed metal price from US$81.39 per tonne of concentrate to US$115 per tonne, makes for an increase in the net present value from US$938 million to US$3.2 billion, both based on a 10% discount. The internal rate of return for the new base case comes in at 41.5% while the previous study was 24.8%.
Cost, however, have also gone up. Total capital costs come in at US$1.37 billion including US$325.6 million for rail and port infrastructure and US$841.7 million for the mine and concentrator. Previously capital costs totalled US$890.9 million. Payback in the new study is 2.3 years. Costs per tonne of concentrate came in at US$51 per tonne for the first 25 years compared with US$41.69 per tonne in the previous study.
Production has gone from roughly 7 million tonnes of concentrate a year to 8.7 million tonnes per year for the first 25 years, both grading 65% iron, while for the first five years the new plan calls for 10 million tonnes of production. Overall mine life is 40 years. With the significant increase in the resource size however, Champion plans to look into the possibility of doubling the production rate.
As of an early October resource update, the project hosts 400.1 million measured and indicated tonnes grading 30.6% iron and 661.2 million inferred tonnes grading 27.7% iron, both at a 15% cut-off grade. Before receiving the latest PEA Champion launched an infill drill program to upgrade inferred resources so they can be incorporated into a 2012 feasibility study. The company was finishing up drilling at its Oil Can project, contiguous to the north of Fire Lake North, in early November, and planned to transfer the three drill rigs to Fire Lake when done.
Champion is advancing its Fire Lake North project along with 17.5%-holder Fancamp Exploration (FNC-V), which holds the same share in all of Champion's 17 properties in the Fermont district.
Champion's share price dropped 10¢ on the news to close at $1.28 with 1.3 million shares traded. The company has a 52-week share price range between 72¢ and $3.30.
Nov 22, 2011 6:31 PM
Champion scales up Fire Lake North
Vancouver - Champion Minerals (CHM-T) has released an updated preliminary economic assessment on its 82.5%-owned Fire Lake North project that significantly increases the net present value and resource size.
The new PEA outlines an open pit design of 921.8 million tonnes grading 28.8% total iron based on an 8% cut-off grade and incluedes measured, indicated and inferred resources. The previous PEA, released in late 2010, was based on an 'in-pit' resource of 250.5 million tonnes grading 30.4% iron at a 10% cut-off.
The increased resources, along with an increase in the assumed metal price from US$81.39 per tonne of concentrate to US$115 per tonne, makes for an increase in the net present value from US$938 million to US$3.2 billion, both based on a 10% discount. The internal rate of return for the new base case comes in at 41.5% while the previous study was 24.8%.
Cost, however, have also gone up. Total capital costs come in at US$1.37 billion including US$325.6 million for rail and port infrastructure and US$841.7 million for the mine and concentrator. Previously capital costs totalled US$890.9 million. Payback in the new study is 2.3 years. Costs per tonne of concentrate came in at US$51 per tonne for the first 25 years compared with US$41.69 per tonne in the previous study.
Production has gone from roughly 7 million tonnes of concentrate a year to 8.7 million tonnes per year for the first 25 years, both grading 65% iron, while for the first five years the new plan calls for 10 million tonnes of production. Overall mine life is 40 years. With the significant increase in the resource size however, Champion plans to look into the possibility of doubling the production rate.
As of an early October resource update, the project hosts 400.1 million measured and indicated tonnes grading 30.6% iron and 661.2 million inferred tonnes grading 27.7% iron, both at a 15% cut-off grade. Before receiving the latest PEA Champion launched an infill drill program to upgrade inferred resources so they can be incorporated into a 2012 feasibility study. The company was finishing up drilling at its Oil Can project, contiguous to the north of Fire Lake North, in early November, and planned to transfer the three drill rigs to Fire Lake when done.
Champion is advancing its Fire Lake North project along with 17.5%-holder Fancamp Exploration (FNC-V), which holds the same share in all of Champion's 17 properties in the Fermont district.
Champion's share price dropped 10¢ on the news to close at $1.28 with 1.3 million shares traded. The company has a 52-week share price range between 72¢ and $3.30.
November 30, 2011 07:30 ET
Champion Minerals Intersects 124 m of Specular Hematite-Rich Iron Formation Grading 34.1% Total Iron at the O'Keefe-Purdy Project, Near Fermont, Quebec
http://www.marketwire.com/press-rel...ron-formation-grading-341-tsx-chm-1592718.htm
TORONTO, ONTARIO--(Marketwire - Nov. 30, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide assay results from fifteen of twenty-three drill holes completed on the Company's O'Keefe-Purdy Project, located approximately 20 km northwest of the Company's flagship Fire Lake North Project in the Fermont Iron Ore District, Quebec.
Drill hole OP11-06, located at the historic Nord-ouest Occurrence intersected 124 metres of specular hematite-rich iron formation grading 34.1% Total Iron ("FeT") and includes a 109 m interval grading 37% FeT. Drill Hole OP11-08, located 200m along-strike of hole OP11-06, intersected 155.6 m grading 29.7% FeT including an 87.4 m interval grading 37.1% FeT.
Champion Minerals Intersects 124 m of Specular Hematite-Rich Iron Formation Grading 34.1% Total Iron at the O'Keefe-Purdy Project, Near Fermont, Quebec
http://www.marketwire.com/press-rel...ron-formation-grading-341-tsx-chm-1592718.htm
TORONTO, ONTARIO--(Marketwire - Nov. 30, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide assay results from fifteen of twenty-three drill holes completed on the Company's O'Keefe-Purdy Project, located approximately 20 km northwest of the Company's flagship Fire Lake North Project in the Fermont Iron Ore District, Quebec.
Drill hole OP11-06, located at the historic Nord-ouest Occurrence intersected 124 metres of specular hematite-rich iron formation grading 34.1% Total Iron ("FeT") and includes a 109 m interval grading 37% FeT. Drill Hole OP11-08, located 200m along-strike of hole OP11-06, intersected 155.6 m grading 29.7% FeT including an 87.4 m interval grading 37.1% FeT.
