Lac Otelnuk Fe deposit

 Lac Otelnuk Iron deposit nts 24C01     

     (acknowledged battery metal)
                   
          Claim map is hyperlinked


The Lac Otelnuk mine development project is Quebec's largest iron deposit with a NI 43-101 compliant estimated mineral resource of 20.64 billion tons of ore grading 29.8% iron.

 It is  now available for option.
 
In 2012, 60% ownership of the iron deposit was sold to Wuhan Iron and Steel Co. (WISCO). 
In 2021, all the legal and beneficial rights, interest and title in and to all the claims were transferred to 743584 Ontario Inc.

Over $100 million in expenditures have been invested in the exploration, all studies, the 2015 NI 43-101 compliant feasibility study and the formation of the Lac Otelnuk Mining Ltd (LOM) between Adriana Resources Inc and WISCO.

Each and all of the claims have excess work expenditure credits registered and available to be applied against the future annual expenditure commitments to the Quebec ministry of Natural Resources until Dec. 2027.  The total expenditure credits exceed $40 million. The title ownership with excess expenditures per claim can be confirmed through the Gestim site by using the 'free consultation'  and clicking on the 'consult register'.

All  geological data and filed assessment reports can be accessed directly from the  Sigeom a la carte site. 



2015 Mineral Resource Highlights:    


The DTWR throughout the mine plan averages 26.5 % Fe2O3t and varies from a high of 33.0 % during year 1 to a low of 25.7 % in year 10.  

Below is the DDH locations with +30% Fe2O3t  data. Use Sigeom DDH function to verify.


Subscribe to: Posts (Atom)