High Tide Resources Corp. Provides an Update for Its Flagship Labrador West Iron Project
Company is focused on producing direct reduction quality pellets that will allow these virgin iron credits to be made. The Labrador Trough of western Labrador and adjoining Quebec constitutes Canada's primary iron producing district and is host to world-class deposits that have been mined for more than sixty years. The high quality of the deposits in the region allows for a wide range in product diversity, which includes premium fines, concentrate and pellet grades. Importantly, the low-carbon emission future will require Direct Reduction quality concentrate and pellets, two products that the Trough is producing and is considered to have significant growth potential to help support a "Green Iron and Steel" future. The Property is strategically located near the mining communities of Wabush and Labrador City in the province of Newfoundland & Labrador and Fermont in Quebec. The area is home to Champion Iron Ore's Bloom Lake Mine, ArcelorMittal's Mont-Wright Mine, Tacora Resources' Scully Mine, and Rio Tinto IOC's Carol Lake Mine. The Wabush and Labrador City region is very well served with skilled labour, a highway, as well as access to abundant low-cost hydroelectricity and a common carrier railway. The railway has an estimated ~80 million tonnes per year of capacity for transport of iron products to the deep-water port of Sept Isles, Quebec, which provides year-round access to global markets.