Harvey Tuttle

Harvey Tuttle

Québec, Canada

An initial 13,165 m drilling program was completed in 2010 to test for magnetic anomalies coinciding with iron formations on the property.

Significant results of the program include grading 30.3% in total iron (FeT) for a 168.4 m drill-core interval and three other intervals exceeding 92 m containing over 32% FeT. Among the 26 drill holes, there are ten 35-metre intervals grading over 30% FeT.

The long intersections of iron-rich core samples typically reflect the structurally thickened parts of the complexly folded iron deposits that are characteristic of the Fermont Iron Ore District (FIOD). As the complex structure is not fully understood, some drill holes were drilled, at least in part, down-dip.

Additional drilling will be required to determine the subsurface geometry of the iron formation with more precision. Results from the first phase of diamond drilling will help Champion target mineralized zones with the highest potential, to further define iron ore resources.

With all the drilling results received in 2010, Champion began digital modeling of the iron deposit. It hired P&E Mining Consultants Inc. of Brampton, Ontario to calculate a national instrument 43-101 consistent with the inferred mineral resource estimate. This estimate was announced by Champion on February 28, 2011.

Total inferred mineral resources at Harvey Tuttle are estimated at 717 million tonnes grading 25% FeT at a 20% FeT cut-off, or 947 million tonnes grading 23.2% FeT, at a 15% FeT cut-off.

The 2010 drill program was the first phase of drilling at Harvey Tuttle, where several kilometric-scale targets were tested. Half of the strike length potentially rich in magnetic anomalies remains to be drill tested on the property.