The Properties’ deposits are classified as Lake Superior-type. Such iron formations are the principal sources of iron throughout the world. Iron formation deposits in the FIOD include ArcelorMittal’s Mont-Wright and Fire Lake Mines, Mont Reed iron deposits and Cliffs Natural Resources Bloom Lake Mine, (formerly owned by Consolidated Thompson Iron Mines Ltd.) and the Lamêlée Lake and Peppler Lake iron deposits.

Iron formations are classified as chemical sedimentary rock containing greater than 15% iron consisting of iron-rich beds, usually interlayered on a centimetre scale with chert, quartz, or carbonate. Ore is mainly composed of magnetite and hematite, and commonly associated with mature sedimentary rocks.

Stratiform iron formations are distributed throughout the world in the major tectonic belts of the Precambrian shields, and in many Paleozoic and Mesozoic fold belts, as well as parts of the present day ocean floor. Gross (2009) noted that the enormous size of some of the Archean and Paleoproterozoic iron formations reflected the unique global tectonic features and depositional environments for iron formation that were distinctive of the time.

Although various models have been used to explain the deposition of iron formations in the past, current thinking (summarized in Cannon, 1992, Gross, 1996, Gross, 2009) supports the idea of iron formation deposition, resulting from the syngenetic precipitation of iron-rich minerals in a marine sett ........

The mining method selected for the Project is based on conventional drill, blast, load and haul. Annual mining equipment fleet requirements were developed based on equipment performance parameters and average hauling distances.

The mine plan was developed to provide a constant throughput of 23 Mtpy of ROM to the concentrator when mining in the West pit, and 24.8 Mtpy when mining in the East Pit.

The primary equipment at the peak in the mine life consists of 40 x 222 t diesel haul trucks, 2 x 28 m3 bucket rope shovels, 1 x 22 m3 bucket hydraulic electric shovel in ore, 2 x 27 m3 bucket hydraulic electric shovels in waste, a 15 m3 bucket wheel loader and 5 x 12¼ inch rotary blast hole drills.

The mine operating and capital costs have been estimated by BBA and consist of equipment energy, equipment maintenance and replacements, blasting and drilling, personnel, and other costs. It is assumed that the mine equipment will be owned by Champion and the workforce will be directly employed by Champion, except for contracted blasting services.

There are three (3) waste rock piles and one (1) overburden pile that were designed for the Fire Lake North PFS.

The West waste rock pile will be completed first, due to its proximity to the West pit. This will provide shorter hauls at the beginning and middle of the mine life. Subsequently, the central pile will be filled. It lies in between the two pits. The East pile will be used mostly w ........

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