DGAP-News: Champion Minerals Inc.: Metallurgical Test Results Confirm Marketable Sinter Concentrate Product from Champion Minerals' Fire Lake North Project
(firmenpresse) - DGAP-News: Champion Minerals Inc. / Key word(s): Miscellaneous
Champion Minerals Inc.: Metallurgical Test Results Confirm Marketable
Sinter Concentrate Product from Champion Minerals' Fire Lake North
Project
02.08.2012 / 09:54
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NEWS RELEASE
Metallurgical Test Results Confirm Marketable Sinter Concentrate Product
from Champion Minerals' Fire Lake North Project
Toronto (Canada), August 1, 2012 - CHAMPION MINERALS INC. (TSX: CHM;
OTCQX:CPMNF; FSE: P02) ('Champion' or the 'Company') is pleased to announce
metallurgical results of test work performed by SGS Lakefield Research and
interpreted by BBA Inc. on its 100% owned Fire Lake North Project in
Fermont, Quebec.
The test work, performed in support of the Fire Lake North Feasibility
Study that is scheduled for Q4 2012, has successfully demonstrated that the
West Pit and East Pit deposits, which contain predominantly hematite, can
be processed using a relatively simple and conventional Autogenous Grinding
('AG') mill with three-stage gravity spiral beneficiation. Due to the very
low magnetite content of both deposits, no magnetic recovery circuit is
anticipated. The product generated from both heavy liquid separation (HLS)
testing and a pilot plant has confirmed that an excellent grade and quality
of sinter concentrate can be produced from the West Pit and East Pit
deposits of the Fire Lake North Project. The Company is focused on the
development of the West Pit deposit for the upcoming Feasibility Study,
with the East Pit deposit possibly serving to supplement the mill feed.
Tom Larsen, Champion's President and CEO commented, 'The successful results
from our metallurgical testing confirm that the Fire Lake North ore will
result in a superior concentrate compared to most concentrates produced
from existing mines in the southern section of the Labrador Trough. This
sinter concentrate is expected to have very low deleterious elements and a
very low alumina to silica ratio which makes it an ideal blending product
at steel plants; thus, will satisfy broad market requirements. These
results have also demonstrated that the ore can be effectively processed
without the need for additional separation circuits and will help to lower
our processing costs.'
In this phase of metallurgical testing, 38 composite samples were prepared
for each of the West Pit and East Pit deposits. NQ core samples
(quartered) were blended and ground to a final size of 100% passing 20, 24
and 28 mesh (850, 710, and 600µm). The complete results of this testing
program will be published in the Feasibility Study; however, the following
two tables highlight certain key results that were derived from heavy
liquid separation.
West Pit HLS Testing - Average of 38 composite samples (sink fraction)
Mesh %Fe %SiO2 %Al2O3 Al2O3:SiO2East Pit HLS Testing - Average of 38 composite samples (sink fraction)
20 66.0 5.07 0.52 0.10
24 66.6 4.26 0.52 0.12
28 67.1 3.65 0.52 0.14
Mesh %Fe %SiO2 %Al2O3 Al2O3:SiO2Apart from silica (SiO2), the only other impurity that was consistently
20 64.7 6.77 0.47 0.07
24 65.4 6.07 0.44 0.07
28 66.1 5.09 0.43 0.08
measured was alumina (Al2O3); however alumina fell well below 2%, which is
a standard for sinter fines. This, combined with the fact that the alumina
to silica ratio is substantially less than 1, will make it an attractive
product to blast furnace operators, who may favour it for use as a diluent
in raw materials blending strategies with sinter feed of lesser quality.
The West Pit test results showed that an excellent grade of sinter
concentrate could be produced by grinding to 100% passing 20 mesh. Further
reductions in silica were obtained by grinding to 100% passing 28 mesh. As
will be reported in the Feasibility Study, most other impurities (e.g. CaO,
MgO) were found to be below detection limits (<0.01%) in the majority of
composites tested and thus not considered to materially affect product
quality. The table below gives product assays that might be considered
typical of the West Pit HLS testing for material ground to 100% passing 20
mesh. Of particular note are the low manganese (%MnO) levels. In fact, 26
of 38 West Pit composite samples tested yielded product that had MnO levels
below the detection limit of 0.01%. While not yet available at the time of
press release, sulphur levels in the product will also be very low, owing
to the fact that the two deposits are virtually sulphur-free.
Selected Sink Fraction Assays derived from the testing of West Pit
composite samples.
Sample Fe Magnetite Hematite SiO2 MnO Al2O3 MgO CaO
3 66.52 0.14 95.10 4.56 0.02 0.63<0.01<0.01
14 66.45 0.14 95.00 4.75 0.02 0.59 0.02<0.01
25 65.12 0.36 93.10 6.27 0.02 0.65 0.05 0.04
34 67.15 0.14 96.00 4.24 0.02 0.26<0.01<0.01
TiO2 Cr2O3 V2O5 P2O5 LOISimilar results were derived for the East Pit composite samples. Once
0.20 0.02<0.01 0.02 0.36
0.21<0.01<0.01<0.01 0.32
0.18 0.04<0.01 0.02 0.43
0.05 0.02<0.01 0.02 0.05
again, the chief impurity is silica. The East Pit HLS results do suggest
that a slightly finer grind, possibly to 24-28 mesh, may be needed to
consistently raise the iron grade to above 65% Fe. However, the East Pit
material may also be used in a blending strategy with the West Pit deposit.
While not presented, what is also clear from the results is that the
majority of the composites tested at 20 mesh (24 of 38) yielded iron grades
exceeding 65% Fe, which suggests that large zones within the East Pit may
perform comparably to the West Pit. Further testing would be required to
confirm such a hypothesis.
About Champion Minerals Inc.
Champion Minerals is an iron exploration and development company with
offices in Montreal and Toronto, and is focused on developing its
significant iron resources in the provinces of Quebec and Newfoundland&Labrador. Champion holds a 100% interest in the Fermont Iron Holdings and a
44% interest in the Attikamagen Iron Project located in both Quebec and
Labrador.
Champion's Fermont Iron Holdings, including the flagship Fire Lake North
Project, are located in Canada's major iron ore producing district, in
close proximity to five producing iron mines. Fire Lake North is located
immediately adjacent to and north of ArcelorMittal's operating Fire Lake
Mine and 60 km south of Cliffs Natural Resources Inc.'s Bloom Lake Mine in
northeastern Quebec. Champion's team and advisory board includes mining and
exploration professionals with the mine operations experience to build the
Fire Lake North Project into a producing mine.
The technical information in this news release was prepared, revised and
approved by Mr. Jean-Luc Chouinard, P. Eng., M.Sc., Vice President, Project
Development for Champion Minerals Inc. and Dr. AndréAllaire, Eng., M.Eng.,
Ph.D., who works for BBA Inc. and is their Vice President Markets - Mining
and Metals; and who is independent of the issuer. Both individuals are
Qualified Persons under National Instrument 43-101 standards.
For further information please contact:
Thomas G. Larsen, President and CEO, or Jorge Estepa, Vice President at
Tel: (416) 866-2200.
For additional information on Champion, please visit our website at
www.championminerals.com.
This news release includes certain information that may constitute
'forward-looking information' under applicable Canadian securities
legislation. Forward-looking information includes, but is not limited to,
statements about mineral resource estimates and planned operations at the
Company's projects, including its Consolidated Fire Lake North Project.
Forward-looking information is necessarily based upon a number of estimates
and assumptions that, while considered reasonable, are subject to known and
unknown risks, uncertainties, and other factors which may cause the actual
results and future events to differ materially from those expressed or
implied by such forward-looking information, including the risks identified
in Champion's annual information forms, management discussion and analysis
and other securities regulatory filings by Champion on SEDAR (including
under the heading 'Risk Factors' therein). There can be no assurance that
such information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
forward-looking information. Accordingly, readers should not place undue
reliance on forward-looking information. All forward-looking information
contained in this press release is given as of the date hereof and is based
upon the opinions and estimates of Champion's management and information
available to management as at the date hereof. Champion disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events or
otherwise, except as required by law.
This press release has been prepared by Champion Minerals Inc. and no
regulatory authority has approved or disapproved the information contained
herein.
End of Corporate News
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