24 www.resourceworld.com
A P R I L / M A Y 2 0 1 7
beginning to better understand the posi-
tive impacts that these intersects have on
the project. Drilling on the North Zone,
will commence shortly; (the North Zone)
has similar high-grade and near-surface
intersects."
Century Global Commodities Corp.
[CNT-TSX] has a 60% interest (WISCO
40%) in the Joyce Lake DSO iron ore
deposit 20 km northeast of Schefferville,
Québec, by the Labrador border. A
Feasibility Study envisages production
at a nominal 2.5 million tonnes/year
over a 7+ year mine life with initial 5.6
years grading 61.4% Fe from the pit and
remaining life-of-mine from stockpiles
at 53.3% Fe. Product transport from the
mine, over a new 43-km haul road to a
new rail loop, connects to existing rail,
for railing to the Iron Ore Company of
Canada Port Terminal in Sept-Iles for sub-
sequent shipment to China. JV partner
WISCO can buy up to 60% of the mine
commercial products at market value or
on standard commercial terms. Century
has other advanced iron ore projects in
the Labrador Trough: Hayot Lake, Full
Moon and Black Bird.
Sandy Chim, Chairman, President and
CEO, said, "Iron ore enjoyed an amazing
head start in the New Year, as the CIF
62% Fe spot price traded over US $90/t
mostly in the second half of February.
That followed an outstanding year of
recovery, almost 100% over 2016, from
a monthly average price of about US $40/
tonne in December 2015 to US $80/tonne
in December 2016. Granted, short-term
factors like Australian tropical cyclones
and the disastrous accident at Vale/BHP's
Samarco Mine did cause some noticeable
supply disruptions. The strength of the
iron ore market's performance to date has
analysts surprised by the margins and
they are revising their forecasts, if not yet
Geologist Tanya Tettelaar examining
dip surface of wide shallow SW-dipping
extensional QTP veining at the new Scott
Showing near Valentine Lake, Newfoundland.
Photo courtesy Marathon Gold Corp.
ADVANCING THE
RELIEF CANYON MINE
• Robust Economics
• Strong Leverage to Gold Price
• Attractively Valued
• Fully Permitted to Resume Production
• Proven Mining Jurisdiction
• Veteran Management
PershingGold.com
|
NASDAQ/TSX: PGLC
|
FWB: 7PG1
