The Company’s flagship VTM flagship project spans over 45 km2 and is located in mining friendly Quebec, Canada close to the mining center of Chibougamau. The current NI 43-101 vanadium resource measures 621 Million LBs V2O5 from VTM concentrate grading 1.08% V2O5. The Lac Dore was formerly developed by the Québec government from 1960’ to 1980’, and subsequently developed jointly by McKenzie Bay Resources and SOQUEM, who piloted production in 2002 of vanadium electrolyte at 99.9% V2O5 at SGS Lakefield, Ontario, Canada for vanadium batteries in Japan. The Lac Dore is uniquely suited for vanadium electrolyte processing with virtually no impurities and exceptional metallurgical recoveries in the VTM. Other advantages include at surface mineralization that is open at depth and along strike as well as proximity to infrastructure such as road, rail, 161Kv power, workforce, water and a local airport. The Lac Dore Project is also less then 1 km from mining claims fully permitted for mineral extraction owned by Blackrock Metals, who are also targeting VTM concentration on site.

Project highlights

  • 100% Owned vanadium project spanning over 452 km
  • NI 43-101 vanadium resource 
  • Size: 99.1Mt @ 0.43% V2O5 (Inferred) resource estimate (621 Million LBs V2O5)
  • Grade: 1.08% V2O5 in magnetite concentrate
  • Mineralization at surface
  • Open at depth and along strike
  • Close to all Infrastructure (road, rail, 161Kv power, workforce, water, airport)
  • Close to mining town of Chibougamau
  • Located in mining friendly Quebec, Canada

NI 43-101 technical report with resource highlights

  • Mineralization (tonnes): 99,104,000 at 0.43 per cent V2O5 inferred
  • Vanadium resource: 282,370 tonnes V2O5 or 621,214,00 LBs V2O5 in magnetite concentrate
  • Vanadium grade in magnetite: 1.08 per cent V2O5
  • Vanadium recovery from magnetite concentrate: 95%
  • Favorable metallurgy
  • 2015 vanadium market study

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Highlights of 1st NI 43-101 Technical Report - Historic Work Summary

  • 54 drill holes and 27 trenches tabled with 3D modeling
  • 8 different historic resource calculations from the following firms: Quebec Department of Natural Resources (3 studies), SOQUEM, LMBDS-Sidam, IOS Services Géoscientifiques Inc, Cambior Inc. and SNC-Lavalin. All of these resource calculations are considered non-current and obsolete.
  • Over 200 reports dealing with exploration, drilling, metallurgy and economical aspects
  • Nearby Infrastructure
  • Entire history of development from 1948
  • Vanadium extractive metallurgy review
  • Extensive beneficiation, smelting and salt-roasting testing by various groups
  • Ground and airborne geophysical surveys
  • Historical economic studies and feasibility studies. All of these studies are considered non-current and obsolete.
  • Current claim expansion underway
  • Bushveld Complex analogy to the Lac Dore Complex. The Bushveld currently sustains three vanadium producers in operation for decades and supplies the raw material for production of approximately 18,000 metric tonnes vanadium final products per year or about 23% of global vanadium production.
  • 2014 vanadium market study
  • Adjacent project development and analysis
  • Commercialization of VRB and LVP batteries in North America depends on large-scale domestic primary production of high-purity vanadium
  • Recommendations and specific budgets to complete resource calculations, PEA and potential Feasibility Study

Lac-Dore-3D-model

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Chibougamau Regional Map email size

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