Century Iron Mines Corporation (TSX:FER) announced its first mineral resource statement for its Rainy Lake iron deposit in Quebec on the Sunny Lake project.
As quoted in the press release:
The Full Moon iron deposit is estimated to contain an Indicated Mineral Resource of 7.26 billion tonnes grading at an average of 30.18% total iron and an Inferred Mineral Resource of 8.69 billion tonnes grading an average of 29.86% Total Iron at a cut-off grade of 20% total iron. The first Mineral Resource statement has been prepared by SRK Consulting (Canada) Inc. (SRK) in accordance with Canadian Securities Administrators’ National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (“NI”43-101″). The Full Moon Iron deposit is located approximately 85 kilometres north of Schefferville.