Monday, 13 August 2012

Century Iron Mines completes phase II of drilling at Duncan Lake

Century Iron Mines (TSE:FER) and Augyva Mining Resources (CVE:AUV) Monday announced the final report from Phase II drilling at the Duncan Lake iron ore project in Quebec, Canada.

In total, 176 holes were drilled for 54,306 metres at Duncan Lake.

Amongst the highlights in the most recent assays, drill hole DUN 11-237B intersected 24.64% total Iron (FeT) over 142.9 metres and drill hole DUN 11- 352 intersected 25.55% FeT over 321.25 metres, Century Iron Mines said.

"We are pleased to release the final drill holes in our Phase II drilling program," Century Iron Mines' president & CEO Sandy Chim said.

"An NI 43-101 report updating mineral resource estimate is currently in process by Met-Chem Canada and expected to be completed in the third quarter of 2012. A Preliminary Economic Assessment (PEA) will follow immediately and is targeted to be completed by the end of the year."

Century Iron Mines is Canada's largest holder of iron ore land claims, with interests in several properties in the Provinces of Quebec and Newfoundland and Labrador.

Its mission is to enhance shareholder value through the development of iron ore projects in Canada and to become a major Canadian iron ore producer.
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