Lamelee Project

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Mine TypeOpen Pit
StatusInactive / Suspended
  • Iron Ore
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock


Lamêlée Iron Ore Ltd. 100 % Direct
TORONTO, Aug. 7, 2018 /CNW/ - Lamêlee Iron Ore Ltd. (TSX.V: LIR) ("LIR" or the "Company") today announces that further to its news release dated June 1 and 21, 2018, the Company's voluntary delisting from the TSX Venture Exchange will be effective at the close of business August 8, 2018 (the "Effective Date").

Deposit type

  • Banded iron formation


The Lac Lamêlée iron deposit consists of magnetite Banded Iron Formation (“BIF”) of the Lake Superior type.

The Property area was subjected to high-grade metamorphism corresponding to the limit of upper amphibolite-granulite facies resulting from the Grenville Orogeny.

During metamorphism, the iron formation was recrystallized into a meta-taconite that contains coarsegrained specular hematite, granular magnetite and friable quartz. The grade of this type of iron formation is generally higher than in the un-metamorphosed taconite.

The iron mineralization on the Property is hosted in the Wabush Formation, within two major facies:
a) Iron Oxide Facies
The Iron Oxide member has been broken down into the following sub-units:
* Magnetite Iron formation (MIF)
* Hematite (specularite) Iron formation (HIF)
* Magnetite–hematite Iron formation (MHIF/HMIF)
The three sub-units differ in their ratios of magnetite to hematite but are geochemically and texturally similar. The units are described as well-banded, fine to medium grained rock with cm- to mm-scale beds of magnetite and/or hematite (typically specularite) alternating with quartz beds that usually contain disseminated magnetite and/or hematite. Locally, the bedding becomes diffused and the rock turns into a quartzite with disseminated magnetite.

b) Quartz-Pyroxene-Magnetite Facies (QPyrxM)
The QPyrxM unit is characterized by a significant proportion, up to about 50%, of pyroxene-rich bands alternating with bands of quartz and bands of massive or disseminated magnetite and/or hematite. The QPyrxM varies considerably in its iron oxide content but the average ranges from about 15 to 25% magnetite, with occasional hematite. The contacts between the two facies are often gradational.

In addition to these two facies, a Carbonate Iron Formation (CIF) unit was observed on the Property. The CIF is locally encountered within the QPyrxM. It is similar in appearance to the QPyrxM but contains light yellow-grey bands of iron-magnesium carbonate intercalated between the pyroxene-rich bands. This unit commonly occurs toward the base of the stratigraphy and may contain magnetite.

On the Property, the Wabush Formation is further subdivided into a Lower and an Upper Iron Oxide - Silicate member locally separated by an ultramafic rock (UMF), informally referred to as “Popcorn Rock” (M. Flanagan, 2013) that may contain a few percent of magnetite. Field observations suggest that the ultramafic suite was injected as sills.

Hematite mineralization predominates in the fold hinge zone in the southeastern portion of the Mountain Pond Zone, which is reflected by a lower magnetic susceptibility observed in the ground magnetic survey data.

The iron mineralization is hosted in a re-folded, plunging syncline located near the centre of the Property and extends over about 2.5 km in a general NE direction. The magnetic data strongly suggest that the eastern limit of the iron formation extends some distance from shore into Lac Lamêlée.



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Mining Methods


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Crushers and Mills

Milling equipment has not been reported.



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Iron kt 98,600
All production numbers are expressed as concentrate.

Production Costs

Cash costs Iron Ore 54.8 / t *  CAD
Assumed price Iron Ore 79.5 / t *  USD
* According to 2014 study / presentation. LOM Operating Cost of $54.81 per tonne of concentrate.

Operating Costs

OP mining costs ($/t mined) CAD 2.4 *  CAD
OP mining costs ($/t milled) CAD  ....  Subscribe
Processing costs ($/t milled) CAD  ....  Subscribe
Total operating costs ($/t milled) CAD  ....  Subscribe
* According to 2014 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscribe
Sustaining CapEx $M CAD  ......  Subscribe
Closure costs $M CAD  ......  Subscribe
OP OpEx $M CAD  ......  Subscribe
Processing OpEx $M CAD 649.3
G&A costs $M CAD 520.1
Total OpEx $M CAD  ......  Subscribe
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Income Taxes $M CAD  ......  Subscribe
Total Taxes $M CAD  ......  Subscribe
Gross revenue (LOM) $M CAD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscribe
After-tax Cash Flow (LOM) $M CAD  ......  Subscribe
Pre-tax NPV @ 10% $M CAD  ......  Subscribe
Pre-tax NPV @ 8% $M CAD  ......  Subscribe
After-tax NPV @ 10% $M CAD  ......  Subscribe
After-tax NPV @ 8% $M CAD  ......  Subscribe
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Heavy Mobile Equipment


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