Voyager Metals Inc (TSXV: VONE) has provided an updated NI 43-101 Mineral Resource Estimate at its Mont Sorcier Iron and Vanadium project located in Chibougamau, Quebec. The updated mineral resource incorporates results from its 2021 infill drill program, which was designed to upgrade Inferred Resources in the projects North Zone to the Indicated category in support of a future Bankable Feasibility Study, which is targeted to be completed by Q1 2023. The 2021 infill drill program consisted of 42 holes or 15,178m.
The new mineral resource update was completed by InnovExplo, an independent engineering firm located in Quebec, Canada. The MRE has delineated an Indicated Mineral Resource in the North Zone of 559M tonnes grading 28.2% magnetite and 0.21% V2O5, with an additional 507M tonnes grading 25.98% magnetite and 0.18% V2O5 in the Inferred category up from 809M tonnes of Inferred Resources in the prior Mineral Resources Estimate. This represents a total mineral resource tonnage increase of 31% in the North Zone. Total Indicated Resources for both the North Zone and the South Zone are now estimated at 679M tonnes grading 27.7% magnetite and 0.20% V2O5, with the potential to produce 195M tonnes of magnetite concentrate grading at least 65% Fe and 0.52% vanadium pentoxide (V2O5). Total Inferred Resources for both the North Zone and the South Zone are now estimated at 596M tonnes grading 25.6% magnetite and 0.17% V2O5, with the potential to produce 158M tonnes of magnetite concentrate grading at least 65% Fe and 0.52% vanadium pentoxide (V2O5).
The company expects an updated NI 43-101 Technical report to be filed on SEDAR within 45 days.
Cliff Hale-Sanders, President and CEO commented “We are extremely pleased by the results of the upgraded NI 43-101 Mineral Resource Estimate which exceed our original expectations. The new mineral resource demonstrates the robust nature and global scale of the Mont Sorcier deposit and will be used to backstop the delivery of a Bankable Feasibility Study that the Company anticipates will demonstrate the exceptional economic potential we see at Mont Sorcier. Additionally, we look forward to working with our team of experienced iron ore consultants, who are immersed in the Quebec mining industry, to demonstrate that this project will be a high margin, low capital cost and long life Project to benefit all the communities in the region of Chibougamau, Quebec.”
For further information please visit: https://voyagermetals.com/