HIGHLIGHTS
Paul Berend, CEO of Cyclone Metals, commented:
“The first phase of the pilot test work confirms the exceptional metallurgical properties of the Iron Bear deposit. We were able to produce one of the highest quality magnetite concentrates in the world with very high yields in an industrial setting. We are now in a position to supply ultra–high quality iron ore product samples to steel mills and trading houses, and then start offtake / JV discussions. These are exciting times.”
Location and Infrastructure
The Iron Bear Project consists of ten licenses totalling 7,275 ha on 291 graticular Mineral Claims under the applicable Labrador and Newfoundland mining regulation, located near the Provincial border of Newfoundland and Labrador and Quebec, approximately 30 km northwest of the town of Schefferville and 1,200 km northeast of Montréal.
The Iron Bear properties are located within 25 km of an open access heavy haul railway which is directly connected to the Sept Isles and Pointe Noire iron ore export ports. In addition, the Iron Bear has potential access to cheap renewable energy from the Menihek hydro-plant located 75km away. These two factors substantially improve the prospects for eventual economic extraction of the Iron Bear mineral resource.
Notably, large scale iron ore export operations currently operate in the Labrador Trough; including IOC (Rio Tinto), Champion Iron and Tata Steel; all sharing the same rail and port infrastructure.
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