- Block 103 has a mineral resource 7.2 billion tonnes @ 29.2 percent iron - inferred NI 43-101 compliant.
- Block 103 is located in the Labrador Trough, a well-established and stable iron ore exporting district
- Block 103 mineral resource can support large-scale production of DRI quality pellets or concentrates; from 20 mta to 100 Mta, critical for steel mills looking to reduce their carbon footprint
- Historical exploration of the project includes 115 drill holes totaling 28,021 meters.
- Iron ore is essential for the steel industry, creating persistent demand for the project's future product.
- An experienced management team leads the company toward creating shareholder value by developing its promising project.
Cyclone Metals (ASX:CLE) is a listed exploration and development mining company focused on developing a world class iron ore project in Canada referred to as ‘Block 103.’ The company’s acquisition of Block 103 will soon be finalized, which will trigger an active development phase to unlock the full value embedded in this exciting mineral asset.
Block 103 is located in the Labrador Trough in Canada 30 kilometers from the town of Schefferville, and is within 20 kilometers of an open-access heavy haul railway directly connected to the Sept Isles iron ore export port. The Labrador Trough is a well-established and stable iron ore exporting district which harbors numerous iron producers including IOC (Rio Tinto), Champion Iron and Tata Steel all of which benefit from the same rail and port infrastructure.