New Millennium completes ore project drilling

Oct 12, 2005 | 10:40 AM | Bob Jones

New Millennium Capital Corp., 80-percent owner of the Canadian $2.5-billion ($2.1-billiion) LabMag iron ore project in eastern Canada, has completed drilling on the property and is preparing to ship concentrates and pellets from a 300-tonne bulk sample to potential customers for testing.

A little more than 1 billion tonnes of indicated resources were established in a drilling program on 45 percent of the property near Schefferville on the Quebec-Labrador border, with additional inferred resources of 800 million tonnes. In all, the deposit has undergone 20,000 meters (65,600 feet) of drilling.....

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