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Canada
Fire Lake North Project

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 Location:
40 km SW from Fermont, Quebec, Canada

  Project Contacts:
1100 René-Lévesque Blvd. West, Suite 610
Montréal
Quebec, Canada
H3B 4N4
Phone  ...  Subscription required
Fax+1-514-819-8100
WebsiteWeb
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  • Overview
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  • Mining
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  • Reserves
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  • Fleet
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  • Filings & News

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Overview

StagePre-Feasibility
Mine TypeOpen Pit
Commodities
  • Iron Ore
Mining Method
  • Truck & Shovel / Loader
Mine Life19.6 years (as of Jan 1, 2013)
The consolidated Fire Lake North project includes three deposits, the Fire Lake North, Bellechasse and Oil Can deposits.


Owners

Source: p. 4
CompanyInterestOwnership
Champion Iron Ltd. 100 % Indirect

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Iron formation hosted


Summary:

The Properties’ deposits are classified as Lake Superior-type. Such iron formations are the principal sources of iron throughout the world. Iron formation deposits in the FIOD include ArcelorMittal’s Mont-Wright and Fire Lake Mines, Mont Reed iron deposits and Cliffs Natural Resources Bloom Lake Mine, (formerly owned by Consolidated Thompson Iron Mines Ltd.) and the Lamêlée Lake and Peppler Lake iron deposits.

Iron formations are classified as chemical sedimentary rock containing greater than 15% iron consisting of iron-rich beds, usually interlayered on a centimetre scale with chert, quartz, or carbonate. Ore is mainly composed of magnetite and hematite, and commonly associated with mature sedimentary rocks.

Stratiform iron formations are distributed throughout the world in the major tectonic belts of the Precambrian shields, and in many Paleozoic and Mesozoic fold belts, as well as parts of the present day ocean floor. Gross (2009) noted that the enormous size of some of the Archean and Paleoproterozoic iron formations reflected the unique global tectonic features and depositional environments for iron formation that were distinctive of the time.

Although various models have been used to explain the deposition of iron formations in the past, current thinking (summarized in Cannon, 1992, Gross, 1996, Gross, 2009) supports the idea of iron formation deposition, resulting from the syngenetic precipitation of iron-rich minerals in a marine sett ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The mining method selected for the Project is based on conventional drill, blast, load and haul. Annual mining equipment fleet requirements were developed based on equipment performance parameters and average hauling distances.

The mine plan was developed to provide a constant throughput of 23 Mtpy of ROM to the concentrator when mining in the West pit, and 24.8 Mtpy when mining in the East Pit.

The primary equipment at the peak in the mine life consists of 40 x 222 t diesel haul trucks, 2 x 28 m3 bucket rope shovels, 1 x 22 m3 bucket hydraulic electric shovel in ore, 2 x 27 m3 bucket hydraulic electric shovels in waste, a 15 m3 bucket wheel loader and 5 x 12¼ inch rotary blast hole drills.

The mine operating and capital costs have been estimated by BBA and consist of equipment energy, equipment maintenance and replacements, blasting and drilling, personnel, and other costs. It is assumed that the mine equipment will be owned by Champion and the workforce will be directly employed by Champion, except for contracted blasting services.

There are three (3) waste rock piles and one (1) overburden pile that were designed for the Fire Lake North PFS.

The West waste rock pile will be completed first, due to its proximity to the West pit. This will provide shorter hauls at the beginning and middle of the mine life. Subsequently, the central pile will be filled. It lies in between the two pits. The East pile will be used mostly w ........


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Iron Ore kt 8,700182,400
All production numbers are expressed as concentrate.

Operational Metrics:

Metrics
Stripping / waste ratio 2.74 *
Daily milling capacity 63,016 t *
Waste tonnes, LOM 1,108 Mt *
Ore tonnes mined, LOM 464.59 Mt *
Total tonnes mined, LOM 1,738 Mt *
Tonnes milled, LOM 464.59 Mt *
Annual milling capacity 23 Mt *
Annual ore mining rate 23 Mt *
* According to 2013 study.

Reserves at July 23, 2012:
Mineral Reserve Estimate at Cut-Off 15% Fe.
Mineral Resource Estimate at Cut-Off 15% Fe.

CategoryTonnage CommodityGrade
Proven 23.73 Mt Iron 35.96 %
Probable 440.86 Mt Iron 32.17 %
Proven & Probable 464.59 Mt Iron 32.37 %
Measured 26.6 Mt Iron 35.2 %
Indicated 666.9 Mt Iron 31.4 %
Inferred 521.6 Mt Iron 30.1 %

2013 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
OP OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 798.3
G&A costs $M CAD 738.1
Total OpEx $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 0% $M CAD  ......  Subscription required
Pre-tax NPV @ 5% $M CAD  ......  Subscription required
Pre-tax NPV @ 10% $M CAD  ......  Subscription required
Pre-tax NPV @ 8% $M CAD  ......  Subscription required
After-tax NPV @ 0% $M CAD  ......  Subscription required
After-tax NPV @ 5% $M CAD  ......  Subscription required
After-tax NPV @ 10% $M CAD  ......  Subscription required
After-tax NPV @ 8% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Pipelines
Source: Subscription required


Proposed Heavy Mobile Equipment as of December 31, 2013:
HME TypeModelSizeQuantity
Backhoe ....................... Subscription required ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Oct 4, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2013

Corporate Filings & Presentations:

DocumentYear
Annual Report 2022
Management Discussion & Analysis 2022
................................... Subscription required 2021
Pre-Feasibility Study Report 2013
Pre-Feasibility Study Report 2013
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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