Cartier Iron Corporation is a Canadian iron ore exploration and development company publicly traded on the Canadian Securities Exchange (“CSE” formerly “CNSX”) under the trading symbol “CFE”. The Company is headquartered in Toronto, Ontario with an exploration office in Val-d’Or, Quebec.
Cartier Iron is currently advancing its five optioned strategically located iron-rich mineral concessions, known as the Gagnon Holdings, that cover 315 square kilometres (km2) in the southern part of the Labrador Trough, which is host to all current iron-ore production in Canada. Cartier Iron also owns the Borel River Property, a 45 km2 mineral concession located near the western shores of Ungava Bay in the northern part of the Labrador Trough.
Cartier Iron’s goal is to become a long-life iron ore producer within a mining-friendly and politically stable region. The Labrador Trough is host to high-quality iron ore, existing infrastructure and a rapidly expanding production profile. Cartier Iron intends to unlock and enhance the value of its property portfolio in order to benefit from the world demand for high-quality iron ore, a trend that the company expects to continue.
In December 2013, Cartier Iron announced an initial Inferred Mineral Resource of 531 million tonnes grading 33% Total Iron for the Penguin Lake Deposit, contained within the Gagnon Holdings. Significant additional exploration target potential exists at Penguin Lake. In late March 2014, Cartier Iron announced it has engaged a firm complete a Preliminary Economic Assessment (“PEA”) of the Penguin Lake Project. Metallurgy tests for the PEA are in progress.