DGAP-News: Champion Iron Mines Limited: Initial Mineral Resource Announced for the Hayot Lake Iron Deposit
(firmenpresse) - DGAP-News: Champion Iron Mines Limited / Key word(s): Drilling Result
Champion Iron Mines Limited: Initial Mineral Resource Announced for
the Hayot Lake Iron Deposit
26.09.2012 / 18:13
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NEWS RELEASE
Initial Mineral Resource Announced by Champion Iron's JV Partner for the
Hayot Lake Iron Deposit of the Attikamagen Project, near the town of
Schefferville, Quebec
Toronto (Canada), September 26, 2012 - CHAMPION IRON MINES LIMITED (TSX:
CHM; OTCQX:CPMNF; FSE: P02) ('Champion' or the 'Company') reports that
Century Iron Mines Corp. ('Century') issued a news release on September 25,
2012 announcing an initial mineral resource statement for the Hayot Lake
Iron Deposit ('Hayot Lake') located in Quebec on the Attikamagan Iron
Project, jointly held by Champion and Century. Century reported that Hayot
Lake is estimated to contain an Inferred Mineral Resource of 1.723 billion
tonnes grading 31.25% Total Iron at a cut-off grade of 20% Total Iron.
Century stated that the initial mineral resource statement has been
prepared by SRK Consulting (Canada) Inc. ('SRK') in accordance with
Canadian Securities Administrators' National Instrument 43-101 'Standards
of Disclosure for Mineral Projects' ('NI'43-101'). Hayot Lake is
approximately 18.5km northeast of Schefferville, Quebec.
A summary of the Mineral Resource Statement and resource estimation
methodology can be found in Century's press release dated September 25,
2012, which is available on their corporate website at www.centuryiron.com
and it will also be posted under Century's filings at www.sedar.com.
Century stated that the technical data in its news release was verified by
the qualified persons (within the meaning of NI 43-101) identified in its
news release. Century also reported that SRK's Hayot Lake Mineral resource
Technical Report will be filed on SEDAR within 45 days.
About Champion Iron Mines Limited
Champion 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 Consolidated Fire
Lake North Project, are located in Canada's major iron ore producing
district, in close proximity to five producing iron mines. The Consolidated
Fire Lake North Project 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.
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.championironmines.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.
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 Iron Mines Limited and no
regulatory authority has approved or disapproved the information contained
herein.
End of Corporate News
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Datum: 26.09.2012 - 18:13 Uhr
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