Champion Mines’ JV Partner, Century Iron Mines, Announces Initial Mineral Resource for Joyce Lake DSO Deposit

Champion Iron Mines (TSX:CHM) announed that its joint venture partner, Century Iron Mines Corporation (TSX:FER), released the initial Mineral Resource Estimate for the Joyce Lake Direct Shipping Ore Deposit, located in Labrador on the Attikamagen Iron Project. The Joyce Lake Project reportedly contains an estimated Measured and Indicated Mineral Resources of 10.0 million tonnes grading 59.45% Total Iron plus an additional 5.6 million tonnes of Inferred Mineral Resources grading 55.78% Total Iron, at a cut-off grade of 50% Total Iron.

As quoted in the press release:

The announcement by Century states that the contents of Century’s news release were reviewed and approved by an independent qualified person (within the meaning of NI 43-101); however, no independent qualified person engaged by Champion has done sufficient work to analyze, interpret, classify or verify Century’s statements to determine the accuracy of the technical information or the mineral resource estimates announced by Century. Accordingly, readers are cautioned against attributing those statements to Champion. Champion is focussed on its Consolidated Fire Lake North Project and does not consider the Attikamagen Iron Project to be a property material to the Company within the meaning of NI 43-101. Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. The mineral resource estimate may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. In addition, the quantity and grade of estimated Inferred Mineral Resources referred to herein are uncertain and there has been insufficient exploration to categorize them as an Indicated or Measured Resource. Furthermore, it is uncertain whether further exploration will result in reclassification of Inferred Mineral Resources to the Indicated or Measured resource categories.

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