Champion Minerals Inc. (TSE:CHM,FRA:P02) reported final assay results for remaining drill holes completed in 2011 at the Fire Lake North project.
Champion Minerals Inc. (TSX:CHM,FRA:P02) reported final assay results for remaining drill holes completed in 2011 at the Fire Lake North project.
The press release is quoted as saying,
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.
Champions’ President and CEO, Tom Larsen said,
Results from our 2011 Drill Program at the Fire Lake North Project confirm the significant size and continuity of the iron formation deposits. The combined assay results are particularly significant and we expect that the updated resource estimate will describe a material upgrade in the quality and quantity of the iron resources.