The La Blache Property comprises 48 claims and covers 2,653.25 hectares of ground approximately 100km north of the community of Baie-Comeau, Quebec. The property is part of the La Blache Anorthosite Complex and hosts the Farrell-Taylor magnetite-ilmenite deposit.
Originally discovered in the 1950’s, various exploration programs have been conducted through the years. The most advanced study results were presented in a 2012 report from SGS. Drilling on the property led to an historic estimate in 2012 at the Farrell-Mason and some satellite prospects, which require further work. Preliminary metallurgical work has also been conducted resulting in high recovery of Iron, Titanium and Vanadium from the Farrell-Taylor deposit.
LA BLACHE PROPERTY HIGHLIGHTS
- Explorational diamond drilling shows property contains recoverable iron, titanium and vanadium oxide resources
- Farrell-Taylor mineralization starts at surface
- Stable, developed mining jurisdiction of Quebec
- Connection to infrastructure
- Logging roads to the property
- Available workforce
- Deep water freight port ~120km from the property
- Rail is ~150km from the property
Regional Geology Map of Quebec Showing the La Blache Area.
The Farrell-Taylor mineral occurrence has been the focus of exploration, culminating in the report “NI 43-101 Technical Report: Resource Estimation of the La Blache Project Cote-Nord, Quebec, Canada” published May 14th, 2012 by SGS. This report included an historic estimate which confirmed not only the presence of several massive to disseminated oxide occurrences, but also their continuity and consistency for Iron, Titanium and Vanadium grades in the mineralized zones.
Although an historic estimate, this is considered relevant because it is the culmination of previous work conducted on the property. This historic estimate is relevant because it is the culmination of previous work conducted on the property. It is of the author’s opinion that this historic estimate is reliable as it was prepared to the quality and rigour as defined by NI43-101 standards to define an inferred resource at that time. As it was 2012 it did not incorporate the supplemental changes to refine the resource categories in 2014, a qualified person has not conducted sufficient work to classify the historical estimate required to categorize this resource to current CIM definitions of a resource (this may include additional drilling requirements). Temas Resources is not treating this historic estimate as current mineral resources and a qualified person has not reviewed the work to define the quality of the work associated with this historic estimate.
Preliminary metallurgical testing of the oxide mineralization yielded 90% recovery of Iron and 95% recovery of Vanadium into a final high-purity product. A TiO2 product suitable for further processing to pigment-grade TiO2 was fully recoverable in testing. The property’s resource estimate is 101,700,000t @ 59.7% Fe2O3 (41.76% Fe), 18% TiO2 and 0.33 V2O5 (0.18% V) at a cut-off of 5.1% TiO2Eq.
Dated: May 14th, 2012 – *Rounded to nearest 10k
Estimates assume an open-pit mining scenario, with mining, processing, and G&A costs of $US 115/tonne, Price assumptions: V2O5 @ US$ 13.50/kg, Fe2O3 @ US$ 0.12/kg, TiO2 @ US$ 2.50/kg
Recoveries used: 90% Fe, 95% V 100% TiO2 TiO2Eq Calc: TiO2 (%) + (V (ppm)*1.7852*0.0001*5.4) + (Fe2O3 (%)*0.033) Relative density used: 4.6g/cm3
In accordance with NI 43-101 as defined at the time, the historical estimate used the terms inferred mineral resource having the same meanings ascribed to those terms by the CIM Definition Standards on Mineral Resources and Mineral Reserves, but are not defined by the modern standards.
This historic estimate is the most recent conducted on the property.
An independent Qualified Person has not done sufficient work to review the historical data and historical estimates to determine what further work would be required to write an updated current Technical Report in accordance with NI 43-101.
CIM Definitions were followed for mineral resources and all tonnes are inferred mineral resources
Mineral resources which are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred mineral resources will be converted to the measured and indicated categories through further drilling, or into mineral reserves once economic considerations are applied.
GEOGRAPHIC AND OPERATIONAL ADVANTAGES
The La Blache property is in the North Shore region of the province of Quebec, making it part of the Grenville Geological Province. The Grenville Province extends for more than 2,000 kilometers in length and skirts the North Shore of the St-Lawrence River. Its width varies from 300 kilometers to 600 kilometers and forms the south east segment of the Canadian Shield. The Archean rocks of the Superior Province and the Proterozoic rocks of the Otish Basin are separated from the Grenville Province by the Grenville Front.
The Grenville consists of gneiss domes and basins with complex and irregular structural patterns, intrusive rocks of variable composition, from gabbro to alkaline rocks. The lithologies are divided into three major units: the gneissic and intrusive rocks of varied composition of the Hulot Complex, intrusive rocks that include the east-west trending La Blache Anorthosite Complex, and late cross-cutting gabbronorites, gabbros, diabase, mangerites, granites and pegmatites. La Blache Anorthosite Complex is an almost ellipsoid batholith of 35 km by 20 km within intrusive rocks that extends for 100 km The mineralization on the property is composed of veins, dykes, lenses and tubular bodies of massive titaniferous magnetite linked to anorthosites.
The resources necessary for a mining operation (labor force, supplies and equipment) are readily available, as the Côte-Nord area is served by geological and mining service firms in the Sept-Iles-Port Cartier area and in Labrador City, Labrador. The economic and industrial development in the region is based on mineral, forest and hydroelectric resources. The area is served by the shipping port of Baie-Comeau, which is navigable year-round. Baie-Comeau, with more than 30,000 inhabitants, is the closest city with a full range of services are available there.