Mr. Thomas Larsen reports
CHAMPION MINERALS DRILLS 168.4 METERS OF 30.3% IRON ON THEIR NEW DISCOVERY AT HARVEY-TUTTLE CLAIM BLOCKS
Champion Minerals Inc. has released the second series of assay results from the completed 2010 diamond drill campaign at the Harvey-Tuttle claim block of the Fermont iron property in northeastern Quebec. Full assay results have been received for all 54 drill holes completed at Harvey-Tuttle. Harvey-Tuttle is immediately to the west and adjacent to Consolidated Thompson Iron Mines Ltd.'s Lamelee property.
Significant assay results include a 168.4-metre drill hole interval with 30.3 per cent total iron, and three other intervals more than 92 metres long and with over 32 per cent total iron. Among 26 drill holes, there are 10 intervals more than 35 metres long and with over 30 per cent total iron. A detailed table of the assay results is attached.
With all assay results received, Champion has commenced digital modelling of the iron formation deposits and engaged P&E Mining Consultants Inc. to develop a National Instrument 43-101-compliant mineral resource estimate anticipated for completion in the first quarter of 2011.
The 2010 drill program is the first phase of drilling at Harvey-Tuttle, where several kilometric-scale targets were tested; however, over 50 per cent of magnetic anomaly responses at Harvey Tuttle remain to be drilled.
The forthcoming NI 43-101 mineral resource estimate will be in addition to the previously announced combined NI 43-101-compliant mineral resources totalling 603 million tonnes grading 29 per cent iron at the Bellechasse and Fire Lake North projects of the Fermont iron property.
Thomas Larsen, president and chief executive officer of Champion, states: "Positive results from the Fire Lake North preliminary economic assessment (released Nov. 3, 2010) bode well for the rest of the portfolio of claim blocks in the area, including Harvey-Tuttle, that generally have not been explored in several decades. With the addition of NI 43-101-compliant mineral resource estimates at Harvey-Tuttle in first-quarter 2011, Champion is in the enviable position of defining significant mineral resources at a time of growing iron ore demand."
The technical information in this news release was prepared, revised and approved by Alex Horvath, PEng, executive vice-president, exploration, of the company, and Jean Lafleur, PGeo, director and technical adviser to the president and chief executive officer of Champion. Both individuals are qualified persons under NI 43-101 standards.
2010 DRILLING PROGRAM FINAL ASSAY RESULTS
DDH No. From (m) To (m) Length (m) Total iron (%)
HT10-01 269.0 314.0 45.0 28.7
HT10-02 94.7 130.2 35.5 30.4
HT10-04B 56.8 128.8 72.0 25.4
258.6 302.5 43.9 28.2
HT10-06 41.6 121.6 80.0 22.4
237.9 273.7 35.9 32.6
HT10-07 43.0 277.0 234.0 26.7
Including 43.0 211.4 168.4 30.3
Including 74.2 167.4 93.2 35.6
Including 107.4 135.4 28.0 40.7
HT10-08 22.0 57.0 35.0 24.5
HT10-09 12.5 48.6 36.1 32.8
74.7 101.9 27.2 31.0
HT10-12 89.9 111.6 21.8 22.4
HT10-13 3.45 227.50 224.05 21.6
Including 23.30 70.04 46.74 27.0
HT10-14 51.90 79.50 27.60 22.4
HT10-15 1.24 121.0 119.76 28.4
Including 35.26 113.00 77.74 31.0
HT10-17 1.50 38.40 36.90 20.8
HT10-18 6.53 98.68 92.15 22.9
HT10-19 39.3 132.0 92.7 34.4
HT10-21 2.0 142.73 140.73 29.5
Including 42.00 138.00 96.00 32.2
Including 42.00 118.00 76.00 34.1
HT10-23 38.80 85.65 46.85 27.8
117.90 164.26 46.36 21.8
Including 117.90 150.20 32.30 25.1
HT10-25 179.00 260.50 81.50 26.7
Including 179.00 239.00 60.00 30.8
HT10-28 0.75 31.00 30.25 22.5
HT10-32 82.35 131.50 49.15 30.7
HT10-33 101.0 133.36 32.36 29.3
HT10-36 62.3 92.0 29.7 28.7
HT10-38 183.5 211.0 27.5 23.3
HT10-39 25.5 375.75 321.45 20.6
Including 144.0 217.3 73.3 25.9
Including 277.6 365.0 87.4 23.1
HT10-41 1.2 168.0 166.8 28.6
HT10-42 0.3 165.37 165.07 23.6
Including 44.0 112.0 68.0 27.9
HT10-44 70.0 174.2 104.2 21.5
HT10-46 51.0 177.0 126.0 20.7
Including 51.0 143.0 92.0 23.5
HT10-48 221.0 255.25 34.25 24.6
HT10-50 27.25 121.08 93.83 21.9
Including 51.0 107.0 56.0 23.9
HT10-51 14.5 40.22 25.72 20.5
170.0 196.95 26.95 24.7
HT10-53 3.26 29.15 25.89 20.1
HT10-54 95.72 148.0 52.28 24.3
Notes:
(1) Drill holes HT10-3, 5, 10, 29, 30 and 47 were abandoned in overburden
before intersecting the iron formations.
(2) HT10-11, 16, 24B, 26, 27, 31, 34, 35, 37, 40, 43, 45 49 and 52 did not
intersect any significant intervals greater than 20 per cent total iron over
20 metres.
(3) Drill holes HT10-7 and 9 were previously released in May, 2010.
(4) Core lengths are approximately equal to true width.
(5) Refer to the Champion website for a complete listing of the individual
sample assay results.
Quality assurance and quality control
All drill core logging and sample preparation was conducted by qualified company personnel under NI 43-101 standards at the company's core logging facilities located at the company field camp south of Fermont, Que. The NQ-sized drill core was split in half. One-half of the drill core was kept in the core tray for reference purposes and the other half core was individually bagged, tagged, sealed and packed in large nylon bags, which were then securely closed and sent by commercial ground transportation for analysis to Corem laboratories in Quebec City, Que. Quality assurance samples, including standards of certified reference material, coarse duplicates, field duplicates, pulp duplicates and blank samples, were routinely inserted with the samples to monitor results. Corem also inserted blank samples, standards and duplicates for quality control purposes.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.