Century Iron Mines Corporation (TSX:FER) announced that the Preliminary Economic Assessment (PEA) submitted by Met-Chem Canada Inc for the company’s 65% owned iron ore project in Quebec, Duncan Lake, showed positive results.
As quoted in the press release:
The PEA is based on the production of 12 Mtpy of acid pellets (66.3% Fe, 5.1% SiO2) year-round from the Duncan Lake deposits 3 and 4 as more fully described in the news release dated August 27, 2012. Mined resources will be transported to the concentrator located near deposit 3. Concentrate will be pumped from the concentrator 135 km by pipeline to the pellet plant close to the town of Chisasibi on the shore of James Bay, near Stromness Island. Pellets will be stored close to the pellet plant and the Duncan Lake dedicated port, and then shipped to ports in Europe and China, during the 4 month ice-free period. The project is planned as a mixed local and fly-in/fly-out operation, with camps in Radisson and at the proposed pellet and port facilities near Chisasibi.