Oceanic Iron Ore to complete marine facility study for Ungava Bay properties
Vancouver-based Oceanic Iron Ore (CVE:FEO) said Friday it has appointed a third party to complete a study analyzing the development of a marine facility for its Ungava Bay iron ore properties in Quebec.
The study, to be prepared by engineering group AMEC Limited, will look to define the requirements for onshore infrastructure, port facilities and ocean transportation logistics with respect to the project.
Findings from the report will be included in the company's scoping study for the project, to be released later this year.
The Ungava Bay properties comprise three groups of deposits, which cover more than 300 kilometres of Lake Superior-type iron formation strike, in the Nunavik region of northern Quebec. Historic resources are estimated at 2.7 billion tonnes of iron ore at an average grade of 32.7% iron.
A drill program is currently underway at the site, designed to bring the resource to NI 43-101 compliant standards.
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