The Moiré Lake Property is less than 3 km southwest of the community of Fermont, Québec. There is direct access to the centre of the Project, via a tertiary road off the Trans-Québec-Labrador Highway (Route 389). The property is immediately east of ArcelorMittal’s Mont Wright Mine property boundary, and 8 kilometres south of Cliff Resources’ Bloom Lake Railway.
Moiré Lake property comprises 26 mineral claims and covers a surface area of 1146 hectares or 11.5 km2. The western part of the Project is underlain by a thick-banded, magnetic iron formation (the Sokoman Formation) averaging 30% iron.
The rocks underlying the Project are complexly deformed, characteristic of the regional structural pattern. The roughly circular, mushroom pattern underlying the western part of the Project reflects a classic, 2-phase, orthogonally oriented fold-interference pattern that exemplifies the desired exploration targets in the Fermont Iron Ore District. The bowl-shaped deposit has been delineated to the western boundary of the Property Geological and geophysical evidence indicates that the mineralization continues westward onto ArcelorMittal’s Mont Wright Mine property.
Results from twenty-three (23) diamond-drill holes completed by Champion in 2011 were used to model the subsurface geometry of the deposit and to calculate a Mineral Resource Estimate of 581 million tonnes grading 29.7% FeT: 417Mt grading 29.4% FeT in the Inferred category and 164 million tonnes grading 30.5% FeT in the Indicated category (see Champion’s news release: March 29th, 2012). The historic resource of 101Mt @ 30.75% Fe estimated for the Moiré Lake deposit (Paquet, 1963), far underestimated its true size.
The Mineral Resource Estimate was completed by P&E Mining Consultants Inc. of Brampton, Ontario.
Mineral Resource Estimate
|High Grade Zones @ 15% cut-off||Tonnes||FeT%*|
|Low Grade Zones @ 10% cut-off||Tonnes||FeT%*|
Technical Report Moire Lake NI 43-101 Resource Report
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