Champion Minerals
Champion Minerals Intersects 401.5 m Grading 30.7% Total Iron at the Oil Can Project, Adjacent to Its Flagship Fire Lake North Project Near Fermont, Quebec
TORONTO, ONTARIO--(Marketwire - Oct. 20, 2011) - CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion", or the "Company") is pleased to provide assay results from the first three drill holes completed on the Company's Oil Can Project, located immediately northeast of and contiguous with the Company's flagship Fire Lake North Project in the Fermont Iron Ore District, Quebec.
Table 1 provides a list of selected composite assay results from the first three drill holes.
TABLE 1 - SELECTED* COMPOSITE ASSAY RESULTS (HOLES OC11-01 to OC11-03)
HOLE-ID HOLE LENGTH AZIMUTH DIP FROM TO INTERVAL** GRADE***
metres degrees degrees metres metres metres Total Fe%
OC11-01 396 260 -45 185.42 376.31 190.89 30.6
OC11-02 594 310 -45 188.53 590.03 401.50 30.7
including 246.86 460.40 213.54 33.1
OC11-03 372 250 -45 40.58 264.60 224.02 28.1
including 76.58 216.58 140.00 30.0
* Selected Composite Assay Results are stated only for results recently received. The Selected Composites are not necessarily representative of the average grade or thickness of the mineral zones or potential resource.
** Intervals are down-hole lengths and not true widths of the mineral zones.
*** Grades are calculated from Total Fe% sample assays completed by ALS Chemex Laboratories using the "High Grade/Ores Method" and XRF analysis.
The initial 5,000 m drill program of 800 m spaced holes at the Oil Can Project is nearing completion and has tested approximately five kilometres of a total six kilometre strike length of favourable magnetic and gravimetric responses on the property. The distribution of magnetic/gravimetric anomalies and broad intersections of iron formation indicate a complex deformation history resulting in structurally thickened zones of iron formation.
Tom Larsen, Champion's President and CEO commented, "The long intersections from the initial drill holes at Oil Can are very promising and could lead to the delineation of a large tonnage of magnetite-hematite iron resources for potential "pellet-feed" and/or "sinter-feed" production. This prospective resource is located only seven kilometres from the proposed location of our Fire Lake North Mine and Concentrator Complex that is currently undergoing a Preliminary Economic Assessment study that will be followed by a Feasibility study planned for mid-2012. Champion remains focused on developing the Fire Lake North Project and continues to systematically delineate resources on nearby projects. Our iron ore resource base, which currently exceeds 2.2 billion tonnes, is expected to grow significantly in the coming months and will provide support for the large capital requirements needed to develop the Fire Lake North and other projects."
Champion will continue to operate three drills at the Oil Can Project until pending drilling permits are received for Fire Lake North Feasibility definition-drilling at which time, the drill-rigs will be re-allocated accordingly. Champion expects to complete the entire 8,000 m proposed drill program at the Oil Can Project in Q4-2011. Upon completion of drilling and receipt of all assay results, a National Instrument 43-101 Mineral Resource Estimate will be completed for the Oil Can Project with results expected in early Q1-2012.
The Fermont Iron Holdings
Champion's Fermont Holdings comprise seventeen properties, three of which - Fire Lake North, Bellechasse and Harvey-Tuttle - host combined NI 43-101 compliant, Measured and Indicated Mineral Resources estimated at 400 Million Tonnes grading 30.6% FeT and Inferred Mineral Resources estimated at 1.82 Billion Tonnes grading 25.4% FeT, at a 15% FeT cut-off(1). Seven of Champion's remaining fourteen properties contain combined historical Mineral Resource estimates(2) totalling 620 Million Tonnes grading 31% FeT.
About Champion Minerals Inc.
Champion Minerals is an iron ore exploration and development company with offices in Montreal and Toronto, focused on developing its significant iron ore resources in the provinces of Quebec and Newfoundland & Labrador. The Company's projects include: the Fermont Holdings in Quebec, jointly held by Champion (82.5% interest) and Fancamp Exploration Ltd. (17.5% interest); and the Attikamagen Iron Property in Quebec and Labrador. Champion's Fermont Holdings, including the flagship Fire Lake North Project, are located in Canada's major iron ore producing district, in close proximity to three producing mines. Champion's team and advisory board includes mining and exploration professionals with substantial iron ore expertise to effectively advance the Fire Lake North Project into production.
(1) The current Mineral Resource estimates were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.
(2) All historical Mineral Resource estimates outlined in this disclosure are non-compliant to NI 43-101 Mineral Resources and Mineral Reserves standards, and should therefore not be relied upon. A Qualified Person has not done sufficient work to upgrade or classify these Historical Mineral Resources as current NI 43-101 compliant Mineral resources.
The technical information in this news release was reviewed and approved by Bruce Mitton, P.Geo. VP Exploration of the Company and a Qualified Person under NI 43-101 standards.
Statements made in this news release that are "forward-looking statements" are not historical facts. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those stated herein.
Contact Information
•http://www.marketwire.com/press-release/...jacent-tsx-chm-1575620.htm
Champion Minerals Inc.
Thomas G. Larsen
President and CEO
(416) 866-2200
Champion Minerals Inc.
Jorge Estepa
Vice-President
(416) 866-2200
Champion Minerals Inc.
Salisha Hosein
Director, Investor Relations
(416) 866-2200
www.championminerals.com
- First Three Drill Holes of 8,000 m Planned Program Intersect Magnetite-Hematite Iron Formation From 191 m to 402 m in Length.
- Drill Hole OC11-02 Intersects 401.5 m Grading 30.7% Total Iron Including a 213.5 m Interval Grading 33.1% Total Iron
müßte champion schon bei mindestens 2 Euro stehen ...nur gute Nachrichten...und der Kurs fällt...nicht zu fassen
Der kanadische Eisenerzexplorer und Projektentwickler Champion Minerals (WKN A0LF1C) hatte in den letzten Wochen hervorragende Bohrergebnisse von seinem Moire Lake-Projekt sowie eine deutliche erhöhte Ressourcenschätzung von seinem Flaggschiffprojekt Fire Lake North präsentiert. Nun legt man mit sehr guten Bohrresultaten vom Oil Can-Projekt nach.
das mit diesen ganzen guten Nachrichten, wir eines Tages echt die 6,70 can$ sehen werden..und wenn es nur 6 can$ sind ist die Sache auch ok. Nach wie vor bin ich der Meinung das Champion eines Tages übernommen wird..entweder von Vale oder einem anderen großen Player
und diese, welche noch kommen werden...ist champion absolut unterbewertet..wir hatten schon einen Kurs von 2,40 Euro..und da war es noch nicht klar..wieviel tonnen champion erwirtschaften kann
denn Fancamp hat einen Anteil von 17,5% an diesem JV (Fermont Properties),
einen 1,5% NSR auf dieses Gebiet und
momentan 1.025.000 Aktien von Champion, die bis auf 2.900.000 Aktien steigen können, da Champion dieses Gebiet von Fancamp "erworben" hat.
Nur mal so als Erinnerungsposten!
Gruß, Paule
Outperform nach neuer Ressourcenkalkulation
RBC Capital Markets sieht Net Asset Value von Champion Minerals bei 6,70 CAD je Aktie 5.10.(0)
welche sich preistlich mit der vom 11.11.2011 deckt In einem Interview mit der renommierten Publikation The Gold Report äußert sich Bergbauanalyst Geordie Mark von Haywood Securities positiv zu den Aussichten des Eisenerzmarktes und des kanadischen Eisenerzunternehmens Champion Minerals (WKN A0LF1C). Der Experte hat für die Champion-Aktie ein Kursziel von 4,20 Dollar vergeben.
gesprochen....die Meinungen der Analysten könnte aufgehen...Champion ist sehr gut aufgestellt und wir werden ab jetzt fast wöchentlich
NEWS von Champion zu lesen bekommen. Desweiteren werden vom Staat in diesem Gebiet wo Champion sitzt 80 Milliarden in die Infrastruktur gesteckt.
Keine Kaufempfehlung....trotzdem viel Erfolg
Champion Minerals is currently completing the 2011 drill program at its Fermont iron ore projects located in Quebec. The Fermont Holdings host 2.2 billion tonnes of NI 43-101 compliant Mineral Resources and the company is focused on updating the November 2010 preliminary economic assessment (PEA) on its' flagship Fire Lake North Development Project. The updated PEA is expected before the end of November 2011, with a feasibility study to follow in 2012.
About Champion Minerals Inc.
Champion Minerals Inc. is a Canadian-based iron ore exploration and development company with properties located in the heart of Canada's premier iron ore mining district, the Labrador Trough. Champion Minerals is one of the largest landholders of highly prospective iron ore properties located southwest of Fermont, Quebec and northeast of Schefferville. The Company's flagship project Fire Lake North hosts over a billion tonnes of coarse grained specular hematite. The Fermont mining camp is located close to water, power, roads and railways, and connects to three ports on Quebec's north shore of the St. Lawrence Seaway. Champion Minerals' shares are traded on the Toronto Stock Exchange under the symbol CHM.
FOR FURTHER INFORMATION PLEASE CONTACT: Thomas G. Larsen
Champion Minerals Inc.
President and CEO
(416) 866-2200; Toll-Free: (877) 448-2201
unter
Quelle:http://www.theaureport.com/pub/na/11613
Zum Kursziel von Champion Minerals
Zitat aus Link von #274
Die Analysten von Fraser Mackenzie nehmen die Berichterstattung zu dem kanadischen Eisenerzunternehmen Champion Minerals (WKN A0LF1C) mit dem Rating „Strong Buy“ und einem Kursziel von 3,50 Dollar pro Aktie auf.
Zitat Ende
little support ,...good Job Lamaro!
Greez Chinasky