Cap-Ex Iron Ore Ltd. is a Canadian listed company, focused on the development of its Block 103 Iron Ore Property in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to an existing railway, which can provide a direct link to a shipping port, and is adjacent to New Millennium Iron Corp-Tata Steel LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
The 2012 exploration program included 22,300m of drilling in 72 holes and resulted in an initial NI 43-101 inferred resource of 7.2 billion tonnes at 29.2% total iron. A Preliminary Economic Assessment is planned to be released in June 2013. Mineral resources which are not mineral reserves, do not have demonstrated economic viability.