Cyclone Metals on track to hit operational milestones at Block 103
November 23, 2023 at 11:31 am EST
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Cyclone Metals Ltd (ASX:CLE) CEO Paul Berend tells Proactive the company has reduced total project development time by more than a year for the Block 103 Magnetite Iron Ore Project in Canada, after successfully completing winter field operations and discovering more than 15 tonnes of additional sediment cores for metallurgical testing. The company has logged, selected and packaged some 10 tonnes of these cores to ship to a metallurgical laboratory in Quebec City, enough to complete the company's metallurgical test work program until the end of 2024.
“In spite of the challenging logistics and the extreme weather conditions, we have been able to operate in Schefferville successfully thanks to the active support of the local contractors and people,” Berend said.
“We have been fortunate to locate vast amounts of sediment core in good condition which means that we will be able to complete our bulk test work program without any additional drilling or trenching. This will save us over a year compared to most of our peers.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Cyclone Metals Limited is an Australia-based mineral investment, exploration, and evaluation company. The Companyâs portfolio of projects and investments provide exposure to cobalt, lithium, iron ore, copper, uranium, and lead-silver-zinc assets in Australia, Europe, Africa, and South America. Its projects include Wee MacGregor Copper Project, Nickol River Gold Project, and Kukuna Iron Ore Project. Its Nickol River Gold project is located approximately 13 kilometers (km) east of Karratha in the Pilbara region of Western Australia. The Nickol River Project is within the Karratha Terrane on the north side of the Sholl Shear Zone, near the margin of the Karratha Granodiorite. The Company holds tenure to four mining leases at the Wee MacGregor project located approximately 40 km southeast of Mt Isa in Queensland. The Kukuna Iron Ore project is located 120 km northeast of Freetown in the northwest of Sierra Leone and consists of one exploration license (EL22/2012) covering 68 square km.