Champion Minerals, Inc., an exploration and development company in Canada, announced Tuesday the addition to two new claim blocks to its extensive holdings in the Fermont Iron Ore District of Northeastern Quebec. The newly acquired claim blocks, known as the "Black Dan" and "East Inlet" properties, border the company's Penguin Lake and Audrey-Ernie Lakes claim blocks in the southern part of Champion's Fermont Iron Property, which contains historical iron-ore resources of over 350 million metric tons.
With the addition of the Black Dan Property, Champion has enhanced the southern portion of the Penguin Lake claim group, which now forms a contiguous block of claims, 15 km in length.
The addition of the East Inlet claims will allow Champion to access iron mineralization in close proximity to the former boundaries of its Audrey-Ernie Lakes and Penguin Lake claims, which may otherwise have proven logistically problematic.