A Globally Significant Vanadium Resource in Québec, Canada

Our wholly-owned Lac Doré project encompasses a strategic undeveloped vanadium resource hosted in iron & titanium bearing titanomagnetite. The resource is ideally located and accessible just 27 kilometres from the mining city of Chibougamau in the geopolitically stable, safe, and mining-friendly jurisdiction of Québec, Canada. The Lac Doré resource represents good potential for future development and strategy for North America as it is one of the few vanadium resources tested successfully for meeting the requirements of quality for vanadium-based energy storage.

What Sets Us Apart

GRADE - One of the highest

Relevant section of resource grading 1.4% Vanadium Pentoxide in magnetite concentrate

SIZE - One of the largest

Globally significant vanadiferous titanomagnetite

METALLURGY - Exceptional Quality

Low impurities such as silica and low oxidation enable higher yield magnetite concentrates

“NI 43-101” VTM Resource

Our NI43-101 is stale now. It is an Historical Estimate.

Table 17 is from the NI 43-101 Technical Report by CSA Global (2020) and includes an MRE by Longridge & Martinez (2020).

This MRE is a historical estimate, being over 3 years old now. Notably, no drilling or sampling has been conducted since then, and major assumptions contained in the report remain similar. Notwithstanding, the Company does not rely upon this CSA Global report and intends to commission an updated Technical Report and MRE in 2024.

Mineral Resource Statement at Lac Doré in In-Situ Mineralization

EFFECTIVE OCTOBER 27, 2020

Category Mineralized material (Mt) V2O5 grade (%) Fe grade (%) TiO2 grade (%) Magnetite (%) V2O5 (tonnes) Fe (Mt) TiO2 (Mt) V2O5 contained
(million lbs)
Measured (M) 23.98 0.5 33.7 9.9 34.5 128000 8.1 2.4 280
Indicated(I) 190.96 0.4 26.3 6.7 23.4 837000 50.2 12.8 1850
M+I 214.93 0.4 27.1 7.1 24.6 965000 58.3 15.2 2120
Inferred 86.91 0.4 28 7.6 25.9 387000 24.4 6.6 850

Mineral Resource Statement at Lac Doré in Magnetite Concentrate

EFFECTIVE OCTOBER 27, 2020

Category Magnetite conc. (Mt) V2O5 grade in conc. (%) Fe grade in conc. (%) TiO2 grade in conc. (%) V2O5 in conc. (tonnes) Fe in conc. (Mt) TiO2 in conc. (Mt) V2O5 contained in conc. (million lbs)
Measured(M) 8.27 1.2 62 9.4 100000 5.1 0.8 220
Indicated(I) 44.7 1.3 62 8.5 578000 27.7 3.8 1270
M+I 52.82 1.3 62 8.7 678000 32.8 4.6 1490
Inferred 22.55 1.2 62 9.2 277000 14 2.1 610
Lac Doré Project Highlights map

Lac Doré Project Highlights

Ownership 100%
Location Chibougamau, Quebec, Canada
Commodities Vanadium, Titanium and Iron
Access 27 km from mining city of Chibougamau, at surface mineralization
Metallurgy Favorable: Exceptionally low impurities facilitate high recovery of vanadium
Orientation High grade stratigraphic units crop at surface and additional units extend at depth and along strike
Regional Support Mining friendly local communities and Cree First Nations, in the Eeyou Istchee James Bay Territory of Quebec, Canada
Proximity to similar resources Adjacent to mine permitted Blackrock Metals
Property Size Over 45 square km
Infrastructure Nearby road, rail, 161Kv power, workforce, water and airport
Ground and airborne geophysics Confirms largest VTM footprint in the region
"Made in Canada" objective Local transformation of all value add products in Chibougamau Quebec creating a new green economy
Sustainable development vision Green mine, Green Recovery Process for Green Batteries
NI 43-101 Technical Report Click here to Download the PDF... (opens in new window)