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Natural Resources
October 10, 2012

Call for Expressions of Interest to be Issued for Julienne Lake Development

The Provincial Government announced today that a Call for Expressions of Interest will be issued to seek proposals for the development of the Julienne Lake iron ore deposit in western Labrador.

“As a result of an exploration program, we are in a position to request proposals from individuals and companies interested in advancing the Julienne Lake deposit into a mine,” said the Honourable Jerome Kennedy, Minister of Natural Resources. “Work completed to date on Julienne Lake has shown that it is a significant iron ore deposit that will attract considerable interest from the mineral industry. The deposit has the potential to provide significant employment and economic benefits to the people of the province.”

The Julienne Lake iron ore deposit is located in western Labrador approximately 25 kilometres from Wabush and Labrador City. The deposit is designated an exempt mineral land meaning that mining rights are reserved for the Crown.

In late 2009, the Provincial Government embarked on a multi-phased work program to better delineate the deposit’s commercial value. Funding of $2.6 million was provided to improve understanding of the Julienne Lake deposit and its potential market value to the province. Based on early success, a further $500,000 was allocated during exploration. Further information on the multi-phased work program is provided in the backgrounder below.

The results of the Phase Two report detail the completed exploration program and study, and define a geological resource consisting of over one billion tonnes at better than 33 per cent iron content. The report, and its associated data, is available on the Department of Natural Resources website at www.nr.gov.nl.ca/

“The report concludes that the Julienne Lake iron ore deposit represents an opportunity to develop a major new mining project in the heart of an established mining community,” said Minister Kennedy. “Although work performed to date is not sufficient for a pre-feasibility or feasibility study, Julienne Lake is considered an attractive project to developers.”

The Expression of Interest can be viewed at www.nr.gov.nl.ca. The deadline for submissions is November 14, 2012.

The mining industry plays an important role in strengthening the provincial economy, and provides valuable employment opportunities for the people of Newfoundland and Labrador. Mineral shipments will reach an estimated $5.7 billion in 2012 with iron ore and nickel accounting for most of production with exploration expenditures forecast to be $195 million. Provincial employment is projected to be close to 7,700 person-years as a result of increased hiring at Long Harbour and strength in the iron ore sector. Newfoundland and Labrador is one of Canada’s leading producers of iron ore. Current activity in the sector includes major expansions of existing mines, the development of recent or renewed mines, and advanced exploration projects.

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Media contact:
Heather Maclean
Director of Communications
Department of Natural Resources
709-729-5282, 697-4137
heathermaclean@gov.nl.ca 

BACKGROUNDER
Julienne Lake

In 2009, the Provincial Government started a multi-phased work program to assess the potential and market value of the Julienne Lake iron ore deposit.

Budget 2010 included funding of $2.1 million to begin work on the Julienne Lake deposit. Based on early success, a further $500,000 was allocated during exploration in Budget 2011.

2012 10 10             1:00 p.m.

 
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