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Canada
Full Moon (Rainy Lake) Project

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 Location:
80 km NW from Schefferville, Quebec, Canada

  Project Contacts:
200 University Avenue, Suite 1401
Toronto
Ontario, Canada
M5H 3C6
Phone  ...  Subscription required
Fax1-416-977-8002
EmailEmail
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit
Commodities
  • Iron Ore
Mining Method
  • Truck & Shovel / Loader
Mine Life30 years (as of Jan 1, 2015)


Owners

Source: p. 9,14,21,39
CompanyInterestOwnership
Century Global Commodities Corp. 100 % Indirect
Century Global Commodities Corp. is now a 100% owner of Century Sunny Lake.

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Banded iron formation


Summary:

The Rainy Lake property is located on the extreme western margin of the Labrador Trough adjacent to Archean basement gneisses. The Labrador Trough is a sequence of Proterozoic sedimentary rocks, which includes the Sokoman Formation within the Knob Lake Group. The Sokoman Formation is an iron formation consisting of a continuous stratigraphic unit that thickens and thins throughout the Labrador Trough.

The thickness of the Sokoman Formation varies between 120 and 240 meters and is a typical Lake Superior type iron-formation (taconite) consisting of banded sedimentary rock composed principally of layers of iron oxide, magnetite and hematite. Iron-rich bands are intercalated with cherty bands composed of variable amounts of silicate, carbonate, sulphide, ferruginous slaty iron formation, and carbonaceous shale. The Sokoman Formation is subdivided into eight stratigraphic subunits: Lean Chert ("LC"), Jasper Upper Iron Formation ("JUIF"), Green Chert ("GC"), Upper Red Chert ("URC"), Pink Grey Chert ("PGC"), Lower Red Chert ("LRC"), Lower Red Green Cherty ("LRGC"), and Lower Iron Formation ("LIF").

On the Rainy Lake property the Sokoman Formation is thickened by shallow east dipping northwestsoutheast thrust faults and is gently folded resulting in unusual thickness of iron mineralization reaching 400 meters locally. The area investigated by drilling was named the Full Moon iron deposit.


Mining Methods

  • Truck & Shovel / Loader


Summary:

The mining method selected for the Project is a conventional open pit, drill and blast, truck and shovel operation with 10 meter high benches. Topsoil and overburden will be stripped and stockpiled for future reclamation use. The mineralization and waste rock will then be drilled, blasted and loaded into rigid frame haul trucks with hydraulic shovels. The mineralized material will be hauled to the primary crushers and the waste rock will be hauled to the waste rock pile.

The open pit design was done with an inter-ramp angle of 52° for the configuration of the final pit wall and a haul road width of 31m.

A 30 year production schedule (mine plan) was developed for the Project, which targets the production of 20 Mt of iron concentrate per year. The mine plan was used to estimate the fleet of mining equipment which resulted in 20 haul trucks (227 tonne), 3 hydraulic shovels (26.5 ma bucket), 2 wheel loaders (1,100 kW), 3 production drills as well as a fleet of support and service equipment.


Crushing and Grinding


Processing

Source: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsLOM
Iron kt 597,000
All production numbers are expressed as concentrate.

Operational Metrics:

Metrics
Waste tonnes, LOM 153 Mt *
Total tonnes mined, LOM 1,763 Mt *
Plant annual capacity 17 Mt of iron pellets *
* According to 2015 study.

Reserves at March 31, 2016:

CategoryTonnage CommodityGrade
Indicated 7,260 Mt Iron 30.18 %
Inferred 8,694 Mt Iron 29.86 %

Commodity Production Costs:

CommodityUnitsAverage
Assumed price Iron USD 95 / t *  
* According to 2015 study / presentation.

Operating Costs:

Units2015
OP mining costs ($/t mined) CAD 5.6
Total operating costs ($/t milled) CAD  ......  Subscription required
Subscription required - Subscription is required.

2015 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total OpEx $M CAD  ......  Subscription required
Net revenue (LOM) $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 10% $M CAD  ......  Subscription required
Pre-tax NPV @ 8% $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.


Proposed Heavy Mobile Equipment as of April 14, 2015:
HME TypeModelQuantity
Dozer ....................... Subscription required ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameRef. Date
....................... Subscription required ....................... Subscription required Jul 27, 2021
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Annual Information Form 2015
Preliminary Economic Assessment 2015
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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