Drilling confirms Bloom Lake expansion potential
Dual-listed Champion Iron has confirmed the expansion potential of the Bloom Lake mine, in Quebec, announcing a 40% increase in its measured and indicated resources.
The company has updated its mineral resource and reserves statement for the mine, having completed diamond drilling and advanced modelling to optimise mining and processing of the deposit.
Since the 2019 technical report, Champion has drilled an additional 106 core bore holes. Infill drilling has resulted in the successful conversion of inferred resources to indicated resources. Furthermore, infill drilling has demonstrated continuity of iron mineralisation, enabling grade continuity to be established and estimated. This, combined with a revised price assumption, resulted in a significantly larger estimated resource pit shell compared with the 2019 modelling.
Bloom Lake currently has measured and indicated resources of 1.25-billion tonnes at 28.7% iron.
The mineral reserves for Bloom Lake are estimated at 716-million tonnes at an average grade of 28.6% iron.
"The combination of our expanded mineral resources, skilled workforce and supportive local stakeholders positions our company to continue to positively impact the region for generations.
“The Labrador Trough, including Bloom Lake, contains one of the largest and purest iron-ore resources globally and offers a unique opportunity for local stakeholders to participate in reducing steel industry emissions, which represents nearly 10% of global emissions. In tandem with our vision to be a global leader in the green steel supply chain, we continuously strive to minimise our impact on the environment in keeping with our corporate values and respect for the land where we operate,” commented CEO David Cataford.
Comments
Research Reports
Latest Multimedia
Latest News
Showroom
Smart energy storage solutions for efficient, safe, and profitable power.
VISIT SHOWROOM
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
