Century Iron Mines has unveiled positive assay results from phase two of the 2013 drilling programme at its Joyce Lake direct shipping ore (DSO) project in Québec.
Phase two followed the encouraging results of the first phase. The programme was carried out from 15 September to 16 November 2013, during which time the company drilled a total of nearly 2,942m.
Century Iron will use the data from both phases to update the mineral resource estimate on the property, which is anticipated by the end of the first quarter of this year.
The company said it expects an upgraded and expanded NI 43-101 resource estimate for the project.
Century said that the latest results confirm the continuity of the mineralised lenses with the defined pit, with some intersections being thicker and containing higher grades than the surrounding holes.
The assays also confirm the extension of a lower mineralised lens outside of the pit, with several high-grade intercepts.
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Drill hole Joy 13-168 intersected 69m at an average grade of 65.42% total iron, while drill hole Joy 13-150 returned 15m of 66.12% total iron.
Century Iron Mines president and CEO Sandy Chim said: "We are very pleased with the positive drilling results from phase two of the drilling program at Joyce Lake, further demonstrating that the Joyce Lake deposit has the potential to become a larger high-grade DSO deposit than estimated in the last NI 43-101 resource calculation."
The Joyce Lake DSO project is part of Century Iron’s Attikamagen Lake project, which has 1,087 claims straddling the boundary between the provinces of Québec, Newfoundland and Labrador.