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CIA - Champion Iron

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Mamba Minerals Limited (MAB) is an exploration company targeting gold, nickel and gold-copper deposits with the projects in Australia and Mozambique, southeastern Africa.

http://www.mamba.com.au
 

springhill

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Re: MAB - Mamba Minerals

MAMBA TO ACQUIRE HIGHLY PROSPECTIVE IRON ORE PROJECT
Highlights:
-Prominent iron formation with 33km of strike, 200m wide, potential for both
-DSO and a multi-billion tonne magnetite deposit
-Exploration permit has been issued with drilling to commence in Sep 2012
-Located within Canada’s premier iron ore district, the Labrador Trough
-65km east of heavy gauge rail connection at Schefferville with available capacity and 565 km from Schefferville to the Port of Sept-Iles
-Hydropower available 45km from Snelgrove Lake at around C$0.04/kwh.
-The Port of Sept-ÃŽles is currently undergoing a C$220 million expansion increasing the port capacity to 50 million tonnes per annum by March 2014
-There is significant activity within Canada’s Labrador Trough with numerous projects underway including with Tata Steel, Rio Tinto, Cliffs Natural Resources and ArcelorMittal.
-Altius has a proven track record of sourcing Labrador iron ore projects including Alderon Iron Ore Corp’s (Market cap of C$245M) Kami Iron Ore Project and Century Iron Mines Corporation’s (Market cap of C$104M) Astray, Grenville, Menihek and Schefferville Iron Ore Projects
 

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springhill

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Re: MAB - Mamba Minerals

It seems MAB hit paydirt with the acquisition of the previously mentioned iron ore project.

New hematite deposit discovered with 275m intersection at Snelgrove Lake
Highlights
● First diamond drill hole (MM-13-05) to test potential DSO (direct shipping ore) has returned a 275m intersection of hematite ore from 15m below surface.
● The current hole, MM-I3-05, continues to be in massive hematite mineralization at time of release and drilling is ongoing.
● Based on gravity and magnetic anomaly data, the target area is estimated to be 2km long by 200-300m wide.
● Snelgrove contains three additional untested DSO target areas with a combined area of 5km by ~ 250m.
● Further drilling to test width and length of this hematite deposit will follow immediately.
● Assay results are expected in May.
 

springhill

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Re: MAB - Mamba Minerals

First hematite hole returns 303m intersection with mineralisation still open
Second hole now underway

Highlights
-Drilling of the discovery diamond hole (MM-13-05) to test potential DSO (direct shipping ore) has been completed after the intersection of hematite ore reached 303m
-The hole remained in massive hematite mineralisation at the time it was terminated 235m below surface
-The second hole to test this target is now underway 150m to the northwest of the first hole
-Based on gravity and magnetic anomaly data, the target area is estimated to be 2km long by 200-300m wide
-Snelgrove contains three additional untested DSO target areas with a combined area of 5km by ~ 250m
-First assay results from the hematite holes are expected in May
 

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Re: MAB - Mamba Minerals

On April 3rd, 2014, Mamba Minerals Limited (MAB) changed its name and ASX code to Champion Iron Limited (CIA).
 

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