Properties
Gagnon Holdings
- Gagnon Holdings has 99 claims covering 105 km2
- Gagnon Holdings is a portfolio of highly prospective iron-rich mineral concessions in the northern and southern Labrador Trough, Canada’s premier iron ore mining district
- Inferred Mineral Resource of 531 MT grading 33% FeT (Total Iron) delineated to date at the Lac Penguin Project covering 141 claims/75 km2 in Labrador Trough
- Additional exploration target potential at Lac Penguin Project estimated to be 700-900 MT of 27-31% FeT
- Metallurgical tests generated high-quality, low deleterious element, low silica (<4.5%) concentrate grading 64.2% – 66.6% iron, from composite core samples
Favourable Operating Environment
- Established iron ore mining district
- Favourable tax environment (40% tax rebate on exploration expenditures)
- Quebec’s Plan Nord: $Billions to invest in Northern Quebec for various projects, including infrastructure development; rail feasibility study is underway
- Skilled-labour work force
Competitive Advantage
- Champion Iron Limited (TSX: CIA) subsidiary is both Cartier’s largest shareholder and its joint venture partner in the Gagnon Holdings
- A Champion Iron subsidiary acquired the formerly producing Bloom Lake Mine and related rail assets, along with the Quinto Mining Corporation mineral claims in April, 2016
- Champion Iron announced the positive results of the “Bloom Lake Mine Feasibility Study” in March, 2017, which demonstrate that recommencing iron ore mining operations is financially viable and would be competitive in global iron markets. Approximately $300 million has been raised to fully fund the re-start of operations at Bloom Lake in Q1 2018
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