Century Iron Mines Corp. (TSX: T.FER, Stock Forum) announces the recent drilling results and its plans for the current exploration programs at the Joyce Lake Direct Shipping Ore (DSO) prospect at Attikamagan project.
The Attikamagen iron project includes one group of claims straddling the boundary between the Provinces of Quebec and Newfoundland and Labrador covering an aggregated area of approximately 34,348 hectares.
According to the Century Iron press release, as of September 10, 2012, 7,807 meters of reverse circulation drilling were completed to expand and better define the zone of DSO type mineralization.
The first batch of assay results confirmed a zone of high grade iron mineralization at Joyce Lake with intercepts up to 54 metres over 60% total iron and with an average of 6.09% silica. Assays are pending for a remaining 45 holes.
The company has a registered 56% interest in the Attikamagen project under an option and joint venture agreement with Champion Iron Mines Ltd. (TSX: T.CHM) to acquire up to a 60% interest.
Century Iron Mines is a mining company with iron ore land claims in the Provinces of Quebec and Newfoundland and Labrador.
On Monday, Century Iron’s stock was up 4.76% and was trading at $1.10 a share. The company has a market cap of $104.4 million, based on 94.9 million shares outstanding. The 52-week high and low was $2.45 and $0.92 respectively.