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Canada

Martison Project

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Overview

Mine TypeOpen Pit
StagePreliminary Economic Assessment
Commodities
  • Phosphate rock
  • Niobium
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock

Owners

SourceSource
CompanyInterestOwnership
Fox River Resources Corp. 100 % Indirect
The claims are registered in the name of Fox River Resources Corporation and Baltic. Each company owns title to 50% of such lease and claims. Baltic is a wholly owned subsidiary of Fox River, such that Fox River owns directly or indirectly 100% of the Martison Phosphate Project.

Deposit type

  • Carbonatite hosted

Summary:

Regional Geology
The Martison phosphate deposit lies in a geological province referred to as Precambrian volcanic and metamorphic rock sequences, which are over one billion years in age. The occurrence of carbonatite deposits is the result of late magmatic injections of carbon dioxide gases, calcium and magnesium carbonate solutions, including associated crystalline apatite, magnetite and mica minerals, through conduits into volcanic vents. The subsequent exposure of the carbonatite rock for long periods of time to erosion and chemical weathering has resulted in the thick accumulation of a palaeo-soil residue called a “residuum” which has concentrations of relatively insoluble minerals such as phosphate bearing apatite, lying on top of the competent and largely unweathered surface of the carbonatite.

The Martison carbonatite is one of 50 known locations of the Central Ontario Carbonatite Complex found on the Kapuskasing structural high (located 110 km east of the Martison Project) to the Albany Forks structural high, (located 260 km west of the Martison Project). Almost all of the carbonatite bodies occur along recognisable major tectonic features.

A number of complexes have been examined for their mineral potential. They all contain apatite in the carbonatite phase between 5% to 25%, and some contain significant enrichments of apatite through leaching out of carbonates. Such enrichment occurs on the Cargill Limited complex, located on a branch structure off the Kapuskasing structural high and at the Martison phosphate deposit.

Property Geology
Differential weathering of the Martison Carbonatite Complex has resulted in an irregular weathered ‘karst’ type surface of carbonatite, the depth of which varies greatly over short distances. Depressions in this carbonate rich surface are filled with the weathered breakdown product of the carbonatite, the ‘Residuum’. This apatite rich Residuum represents the bulk of the phosphatic material of economic interest. Above the residuum lies a less consistent layer of lateritic material containing niobium mineralisation also at levels of economic interest. More recent glacial deposits, typical of the James Bay Lowlands, form a blanket of glacial till over the residuum / laterite sub-outcrop reaching up to 80 m in depth.

Mineralization
Apatite is the principal phosphate bearing mineral of economic interest within the residuum. The laterite is enriched in niobium, typically found in the form of pyrochlore, its occurrence is also of economic interest. Both the phosphate and the niobium have been the subject of significant drilling and metallurgical test work to establish if they may be extracted economically.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityProductUnitsAvg. AnnualLOM
Phosphate rock Concentrate kt 1,41035,286
P2O5 Oxide kt 12,497
Ammonium phosphate Fertilizer t 474,000
Phosphoric acid Acid t 221,000
NPS Fertilizer t 247,000

Operational metrics

Metrics
Annual milling rate  ....  Subscribe
Stripping / waste ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
Tonnes milled, LOM  ....  Subscribe
* According to 2022 study.

Production Costs

CommodityUnitsAverage
Cash costs NPS USD  ....  Subscribe
Cash costs Phosphoric acid USD  ....  Subscribe
Cash costs Ammonium phosphate USD  ....  Subscribe
Site cash costs (produced) Phosphate rock USD  ....  Subscribe
Cash costs Phosphate rock USD  ....  Subscribe
Assumed price NPS USD  ....  Subscribe
Assumed price Phosphoric acid USD  ....  Subscribe
Assumed price Ammonium phosphate USD  ....  Subscribe
* According to 2022 study / presentation.

Operating Costs

Currency2022
OP mining costs ($/t mined) USD 2.42 *  
OP mining costs ($/t milled) USD  ....  Subscribe
* According to 2022 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 8% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Required Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jun 1, 2022
....................... Subscription required ....................... Subscription required Subscription required Jun 1, 2022

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