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Canada
Duncan Lake Project

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 Location:
28 km S from Radisson, Quebec, Canada

  Project Contacts:
200 University Avenue, Suite 1401
Toronto
Ontario, Canada
M5H 3C6
Phone  ...  Subscription required
Fax1-416-977-8002
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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit
Commodities
  • Iron Ore
Mining Method
  • Truck & Shovel / Loader
Processing
  • Magnetic separation
  • Rotary kiln & Electric furnace
Mine Life20 years (as of Jan 1, 2015)


Owners

Source: p. 12,13, 28, 41
CompanyInterestOwnership
Century Global Commodities Corp. 68 % Indirect
Canadian Century and Augyva formed the Duncan Lake Joint Venture.

Canadian Century is the operator of the Duncan Lake Joint Venture.

Century Iron Ore Holdings Inc. owns Canadian Century, a holding company that holds the Duncan Lake Property, in which Canadian Century has a 68% interest earned under the Duncan Lake Joint Venture Agreement with Augyva and in respect of which Canadian Century has funded expenditures.

Deposit Type

  • Banded iron formation


Summary:

The stratiform, iron-rich deposits in the world are classified as Lake Superior and Algoma types banded iron formations (“BIF”). The BIF are interpreted as finely bedded sedimentary rocks of chemical origin.

The Canadian Lake Superior-type iron formations are the most important source of iron, followed by the deposits of Algoma-type iron formations. Algoma-type iron formations are predominantly found in Archean greenstone belts, while the Lake Superior type is generally of Paleoproterozoic age.

The Lake Superior type of iron formation formed in stable continental shelf and platform settings, whereas the Algoma type is associated with volcanic arcs (tectonically active environment, greenstone belts) or rift zones and related volcanism. However, a complete gradation exists from one type to the other, as the Algoma type iron formation can be deposited at considerable distances from the volcanic centres.

The Algoma deposits are interbedded with felsic to ultramafic volcanic and volcaniclastic rocks, greywacke, black shale, argillite and chert. The Lake Superior iron formation is associated with a variety of shallow marine sedimentary rocks including quartzite, shale and carbonate rocks, and subordinate amounts of felsic to mafic volcanic rocks.

The Lake Superior type, formed on the large areal extents of the platforms, typically have higher lateral continuity and thickness than the Algoma type BIF originating from the more restricted volcanic environment.

The DLIP hosts iron deposits typical of the Algoma type oxide facies, considering the presence of an important volcanic rocks component. However, the large extent of the BIF in the DLIP deposits suggests a setting of deposition in a relatively stable environment. Consequently, the Duncan Lake BIF is interpreted to represent a type half-way between the Algoma and Superior types, sometimes referred to as Carajas iron mineralization. The oxide, silicate, carbonate and sulphide facies are common to both of these groups that contain a minimum of 15% Fe that typically varies between 30 and 35% Fe.

Banded iron formation consists of thin alternating beds of silica (quartz, chert) and iron oxides (magnetite and hematite), with variable amounts of silicate, carbonate and sulphides. The sequences are commonly metamorphosed. Grain size varies according to the degree of metamorphism and iron amphiboles are commonly developed in middle greenschist or higher metamorphic grade rocks.

Iron mineralization within the DLIP property consists of BIF type represented by alternating millimetric to centrimetric bands of quartz and of magnetite with minor amounts of hematite. The DLIP deposits are also associated with silicate and sulphide facies iron formations. The silicates consist mainly of actinolite, tremolite, diopside, grunerite, hornblende, chlorite, epidote, biotite, as well as chlorite-rich mudrocks. The BIF is black to dark blue and becomes dark-green with increased silicate content. It is generally fine-grained, with local variations due to recrystallization in response to contact metamorphism by the felsic intrusions near Deposits 3 and 6. Average head grade varies from 15 to 35% total Fe.

Disseminated sulphides, mostly pyrite, are widespread in the BIF sequence and some of the adjacent waste rocks and represent the main contribution in the sulphur deleterious element to the system.

The chemical analysis established that, on average, the iron formation at DLIP contains very low levels of deleterious elements, in particular phosphorus (0.02% P2O5), manganese (0.03% MnO) and magnesium (0.23% MgO). However, the average sulphur content is elevated. The unweighted average of 3,662 analyses for all deposits yielded 0.78% S in the head grade from core samples. The sequence of the iron-rich units on the DLIP is not clearly defined and is related to a mix of Algoma and Lake Superior types BIF.


Mining Methods

  • Truck & Shovel / Loader


Summary:

The mining method selected for the Project is a conventional open pit drill and blast operation with rigid frame mining haul trucks and hydraulic excavators. Pre-production stripping of waste and overburden material will be mined by a contractor.

Vegetation, 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 face shovel hydraulic excavators. The mineralized material will be hauled to a primary crusher and waste rock will be hauled to the waste dump.

To properly manage water infiltration into the pit, a sump will be established at the lowest point on the pit floor. Water collected in this sump will be pumped to a collection point at surface.


Crushing and Grinding


Processing

  • Magnetic separation
  • Rotary kiln & Electric furnace

Source: Subscription required

Summary:

Three SAG mills are used. Each SAG mill (12.2 m x 7.9 m) is equipped with a gearless mo or of 22,000 kW and all required auxiliaries. The -198 mm crushed product will be fed directly by a conveyor into each SAG mill. Water is added to each SAG mill to control the slurry density inside the mill at 72 % solids weight. Each SAG mill will be equipped with a 25 x 12 mm discharge grate and an 8 mm trommel screen with pocket lifter to return the oversize directly inside the mill by means of a sluice through the discharge trunnion of the SAG mill. The trommel undersize is fed to a pump box along with pulping water to maintain the solids at 65% in the pump box. From these SAG Mills discharge pump box, it is pumped onto vibrating screens with an opening of 3.36 mm.

The screens oversize is fed back into the SAG mills and the undersize flows into a pump box from where it is pumped to Cobber Magnetic Separators. The first step of magnetic separation (“cobbing”) will reject about 10% of t ........

Recoveries & Grades:

CommodityParameterAvg. LOM
Iron Head Grade, % 24.8
Iron Concentrate Grade, % 67

Projected Production:

CommodityProductUnitsLOM
Iron Concentrate kt 228,700
Iron Pellets Mt 238

Operational Metrics:

Metrics
Stripping / waste ratio 1.8 *
Waste tonnes, LOM 1,475 Mt *
Total tonnes mined, LOM 2,293 Mt *
Tonnes milled, LOM 817 Mt *
Annual production capacity 12,000,000 t of iron pellets *
* According to 2015 study.

Reserves at March 31, 2016:

CategoryTonnage CommodityGrade
Measured 405.6 Mt Iron 23.92 %
Indicated 644.9 Mt Iron 24.73 %
Measured & Indicated 1,051 Mt Iron 24.42 %
Inferred 563.1 Mt Iron 24.69 %

Commodity Production Costs:

CommodityUnitsAverage
Assumed price Iron USD 140 / t *
* According to 2015 study / presentation.

Operating Costs:

Units2015
OP mining costs ($/t milled) CAD 24 *
Processing costs ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2015 study.
Subscription required - Subscription is required.

2015 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M CAD  ......  Subscription required
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total CapEx $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 @ 5% $M CAD  ......  Subscription required
Pre-tax NPV @ 8% $M CAD  ......  Subscription required
After-tax NPV @ 5% $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 March 22, 2013:
HME TypeModelQuantity
Dozer ....................... Subscription required ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

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


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2020
Annual Information Form 2016
Preliminary Economic Assessment 2013
Subscription required - Subscription is required.

Aerial view:

Subscription required - Subscription is required.

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