Cartier Iron’s optioned Gagnon Holdings are strategically located in the southern Labrador Trough (Gagnon Terrane) and comprise the Round Lake (amalgamated Penguin Lake, Black Dan and Aubrey-Ernie properties), Silicate-Brutus, Aubertin Tougard, Three Big Lakes and Jeannine Lake properties. The area has ready access to hydro electric power, roads, railways and waterways, and connects to three ports on the north shore of the Gulf of St. Lawrence.
In December 2013, Cartier Iron announced an initial Inferred Mineral Resource of 531 million tonnes grading 33% Total Iron for the Penguin Lake Deposit. Cartier Iron has engaged a firm to complete a Preliminary Economic Assessment (“PEA”) of the Penguin lake Project.
Cartier Iron’s shares are traded on the Canadian Securities Exchange (formerly CNSX) under the symbol CFE.