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o c t o b e r / n o v e m b e r 2 0 1 4 www.resourceworld.com 29 acquired a 50% interest in the producing Canadian Malartic Mine as part of the joint acquisition of Osisko Mining Corp. Proven and probable mineral reserves are 8.9 mil- lion ounces of gold based on a $1,300/oz open pit design. Arianne Phosphate Inc. [DAN- TSXV; DRRSF-OTCBB; JE9N-FSE] is a development-stage company advancing the 100%-owned Lac à Paul phosphate project in the Saguenay region, the larg- est greenfield phosphate project in the world. A bankable feasibility study has been completed with a $1.9 billion pre-tax NPV (at 8%), a 21% IRR and a 4.4-year payback. Production is planned for mid- 2018 for a 26-year mine life at 3 million tpy of high quality phosphate concentrate. Construction is to start next year with a capital cost of $1.2 billion. Balmoral Resources Ltd. [BAR-TSX] has made a major nickel-copper-platinum group elements (PGE) discovery on its Grasset property, part of the Detour Gold Trend Project in northwest Québec. Balmoral recently reported high-grade nickel-copper- PGE intercepts from each of the first eight holes targeting its recent Horizon 3 discov- ery. All eight holes, which fan out from discovery hole GR-14-25 (1.79% nickel, 0.19% copper, 0.42 g/t platinum and 1.04 g/t palladium over 45.28 metres) intersected broad zones of high-grade nickel-copper- PGE mineralization similar to that observed in the discovery hole. Results include 102.86 metres grading 1.03% Ni, plus Cu and PGE. High-grade core continues, including 15.84 metres of 2.51% Ni and 9.80 metres of 2.73% Ni in deepest hole reported to date. Beaufield Resources Inc. [BFD-TSXV; BFDRF-OTCPK] resumed fieldwork at its Urban property 190 km northeast of Val d'Or following recent positive exploration results on the Macho block, including 20 g/t gold and 2.43% copper in a grab sample. Crews are prospecting for massive sulphide mineralization, sampling, surveying, and ground proofing of geophysical anomalies and known occurrences. Beaufield can earn a 50% interest in the Launay Project north- west of Val d'Or from Melkior Resources Inc. [MKR-TSXV] by spending $1.25-mil- lion over five years. An initial resource estimate is being prepared for Zone 75. Cartier Resources Inc. [ECR-TSXV] has nine mineral projects between Rouyn- Noranda and Chibougamau covering gold, copper, silver and zinc. Century Iron Mines Corp. [FER-TSX] has defined 5.7 million tonnes measured grading 23.29% Fe; 25.6 million tonnes indicated at 23.48% Fe and 831.5 million tonnes inferred at 24.56% Fe at its Duncan Lake property 570 km north of Matagami. The company also holds the Sunny Lake and Attikamagen iron ore projects near Schefferville. Near Schefferville in Newfoundland & Labrador, Century Iron is conducting a bankable feasibility study on its Joce Lake direct shipping iron ore project. Champion Iron Mines Ltd. [CHM-TSX; CPMNF-OTCQX; P02-FSE] has estimated proven and probable reserves of 465 million tonnes grading 32.4% Fe in a pre- feasibility study at its Fire Lake North iron project 250 km north of Port-Cartier. The project is part of the Fermont projects that include five other iron ore projects. The company will participate in the Québec government's feasibility study regarding a new rail link between the Port of Sept-Îles and the Labrador Trough. Clifton Star Resources Inc. [CFO- TSXV; C3T-FSE] has six projects near the Porcupine-Destor Fault in northwest Québec. The company has received a posi- tive pre-feasibility study on its Duparquet gold project 50 road-km north of Rouyn- Noranda. The study envisioned a 10,000 tpd open pit operation producing 158,000 oz gold per year over 11 years. Commerce Resources Corp. [CCE- TSXV] continues to advance the Ashram rare earths project on the Eldor property in northeast Québec toward completion of its prefeasibility study. This work includes the results of recently reported infill drill- ing and the metallurgical programs. The company would consider building a basic processing plant with the concentrate shipped to a final processor to separate the rare earth elements. Critical Elements Corp. [CRE-TSXV; CRECF-OTCQX; F12-FSE] reported labora- tory-scale hydrometallurgical testing is in progress at the SGS Minerals Services lab in Lakefield, Ontario, as part of the feasi- bility study of the Rose lithium-tantalum project in the James Bay region. Test results have shown the developed process can safely produce lithium carbonate with an overall recovery rate of up to 96%. The overall purity gave values of up to 99.98%, and thus, surpassing the requirements of battery-grade lithium carbonate. Eagle Hill Exploration Corp. [EAG- TSXV] is conducting a 2,800-metre drill program targeting the extension of gold mineralization at depth below the Main Zone of the Windfall Lake gold project between Val d'Or and Chibougamau. The company will deepen six existing holes into a target zone at about 800 metres ver- tical depth. Geological studies indicate gold mineralization hosted by Zone 27 and the Caribou Zone may have been displaced as much as 600 metres northeast below the Red Dog intrusion, which also coincides with a hole-to-hole IP anomaly identified below Red Dog. Eastmain Resources Inc. [ER-TSX] has completed preliminary exploration pro- grams on its 100%-owned Eastmain Mine, Ruby Hill East and Lac Lessard projects in the James Bay region. Key objectives at the Eastmain Mine and Ruby Hill East were to explore for additional gold resources lateral to the Eastmain gold deposit and to search for a repetition of the mine horizon on the adjacent Ruby Hill East claim block. The rock and soil sampling program at Lac Lessard, 15 km northeast of the Eastmain LEFT: Goldcorp has nearly finished building the 100%-owned Éléonore gold mine in the James Bay region 320 km north of Matagami, Québec. Production is scheduled to commence in late 2014. Photo courtesy Goldcorp Inc.