Century Iron Mines has reported the phase II interim drilling results from its 51% owned Duncan Lake iron ore project.
This phase II drilling campaign of 2011 has followed the formerly reported phase I campaign of 10,460 m, totaling 52 holes, during 2008 and 2009. Phase III drilling is an expansion program for the phase II drilling.
Besides the phase II drill program, Century had drilled 29,651 m, totaling 82 NQ sized holes. It is drilling continually in the phase III campaign. During 2012, the company has planned to update the NI 43-101 compliant resource calculation of the property and a preliminary economic assessment (PEA) will be prepared.
Century Iron’s CEO and President, Sandy Chim, stated that the company is delighted by the interim results of the phase II drill program conducted at the Duncan Lake project. It is expecting to obtain the results of the recently drilled holes. Century is also expecting to report the PEA and an updated NI 43-101, when the winter drill program of the phase II interim campaign is completed during 2012.
The Duncan Lake property in Quebec is around 110 km from the shore of James Bay and 575 km towards the northern part of Matagami. This property has 25,602.54 ha, totaling 531 mineral claims.
The Centre d'études appliqués sur le Quaternaire (CEASQ) in Chibougamau was contracted for the preparation of samples. Pulps were delivered to ALS Canada in British Columbia. Lithium borate XRF tested the samples and Leco furnace determined sulphur.
Source: http://www.centuryiron.com/