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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
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 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.

Contractors

Subscription required - Subscription is required.


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 vo ........


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

Source: Subscription required

Summary:

- subscription is required.


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.

Subscription required - Subscription is required.

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