Summary

Mine Type	Open Pit
Study Completed	Feasibility
	Archived Information
Commodities	Iron Ore
Mining Method	Truck & Shovel / Loader
Mine Life	...
Snapshot	Lac Otelnuk Iron Ore project is one of the largest iron ore projects in North America. On 29 August 2023, MetalQuest Mining engaged Watts, Griffis and McOuat Ltd.(“WGM”) to conduct an infrastructure report on the Project. During the year-ended 31 January 2024, the Company entered into an Exploration and PreDevelopment Agreement with Naskapi Nation of Kawawachikamach. In order to complete the next round of updated studies, MQM has been consulting with various engineering and EPCM firms as to the cost and time frames needed to complete the next round of studies for the project. The Project completed a historical Feasibility Study in 2015, however there are many areas in the Study which need to be updated or revised. The proposal of Lac Otelnuk at its peak capacity would make the Project one of Canadas largest mines and one of the world’s largest iron ore mines. Management hopes to have final estimates before the end of Q1 of 2025.

Deposit type

• Banded iron formation

Summary:

The Trough, otherwise known as the Labrador Quebec Fold Belt, extends for more than 1,100 km along the eastern margin of the Superior Craton from Ungava Bay to Lake Pletipi, Quebec. The belt is about 100 km wide in its central part and narrows considerably to the north and south. Adriana’s Property is located north of the Grenville Front in the Churchill Province where the Trough rocks have been subject to greenschist or subgreenschist grade metamorphism and the principal iron formation unit is known as the Sokoman Formation. The lithological units of interest on the Property due to their iron content are members of the Sokoman.

The Lac Otelnuk deposits are composed of iron formations of the Lake Superior-type. This type of iron formation consists of banded sedimentary rocks composed principally of bands of magnetite and hematite within quartz (chert)-rich rock, with variable amounts of silicate, carbonate and sulphide lithofacies. Such iron formations have been the principal sources of iron throughout the world. Lithofacies that are not highly metamorphosed or altered by weathering are referred to as taconite and the Lac Otelnuk deposits are examples of this type.

Mineralization in the iron formation consists mainly of magnetite (Fe3O4) and hematite (Fe2O3), however, some iron also occurs in siderite and ferro-ankerite. Iron oxide bands containing concentrations of magnetite and/or hematite alternate with grey chert of jasper.

Mining Methods

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Comminution

Crushers and Mills

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Processing

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Commodity Production

Operational metrics

Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Jan 30, 2025

Total Workforce	Year
......	2015