Century Iron Mines (TSE:FER) said Wednesday that its Labec Century Iron Ore unit has increased its stake in the Attikamagen Lake Project joint venture with Champion Minerals (TSE:CHM) to 56 percent.
Attikamagen Lake iron ore project straddles the boundary between the
Canadian provinces of Quebec and Newfoundland and Labrador covering an
aggregated area of approximately 345 square kilometres.
Labec Century has the further right to earn an additional 4 percent interest to increase its stake to 60 percent in the project.
is another important milestone toward advancing the project with the
objective to production." the company said in a statement.
are very pleased with the positive exploration results of Joyce Lake,
the first target for direct shipping ore (DSO) production of this
project, which have been published in previous months.
continuing to drill to build resources and look forward to publishing
more results as they become available in the coming months."
iron ore company recently announced the appointment of Ghislain Arel as
mine development executive. He will report directly to the company’s
senior vice president of logistics, mine development and operations,
Based in Montreal, Arel’s role will be to lead the
supervision of mining operations, and assist in the company’s
development and implementation of mining exploration plans as it brings
its major iron ore bodies into production over the next five years and
Arel is a graduate engineer of Université Laval, with 17
years of experience at several mining companies and mining consulting