Champion Iron in joint exploration agreement with Supreme Metals

Company News

by Rachael Jones

Champion Iron (ASX:CIA) has reached a joint exploration agreement with Supreme Metals Corp. in order to access the claims located on the Bloom Lake East Property in Quebec in Canada.

Magnetic survey work, conducted by Supreme in 2018, identified iron ore prospects at Bloom East, which could be of importance to Champion and its subsidiary Quebec Iron Ore Inc.

This could potentially be considered as a source of iron ore feed for the Bloom Lake Mine concentration plant owned and operated by Quebec Iron Ore Inc.

This will not only give Champion and Quebec Iron Ore the change to add resources to the Bloom Lake Mine, it will also increase the potential for cobalt by combining underexplored occurrences into a single project.

Shares in Champion Iron (ASX:CIA) last traded at $1.12.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.