Canada

Lac Dore Project

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Categories

Overview

Mine TypeOpen Pit
StagePreliminary Economic Assessment
Commodities
  • Vanadium
  • Titanium
Mining Method
  • Truck & Shovel / Loader
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Owners

SourceSource
CompanyInterestOwnership
VanadiumCorp Resource Inc. 100 % Indirect
The Company holds 100% ownership in the Lac Dore Vanadium, Iron and Titanium Property ("Lac Dore Property").

Contractors

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Deposit type

  • Magmatic

Summary:

The Lac Doré Complex is a lopolith, a sub-tabular intrusive body of mafic to anorthositic composition, strongly differentiated near its top. The lopolith is emplaced within the Waconichi Formation, a felsic volcanic and sedimentary pile, and folded along by the regional anticlinorium. The deposit is hosted in a homoclinal sequence of magnetite bearing layers within the South flank of the Lac Doré Anorthositic Complex. Top of stratigraphy is to the south.

According to Allard (1967), the Lac Doré Complex is divided in four major units. From top to bottom they are:
- The border zone (top, South-East);
- The granophyre;
- The layered zone;
- The Anorthositic zone (base, North-West).

The layered zone hosts the vanadiferous titanomagnetite deposit, while the anorthosite and the granophyre host most of copper-gold mineralization of the mining camp (outside the current project). The anorthosite zone (approximately 3660 m in observed thickness) is composed of anorthosite, gabbro and titanomagnetite-bearing gabbro, plus some minor pyroxenite. The titanomagnetite abundance as well as the vanadium content increase in the upper 150 metres of the unit, toward the layered zone.

The layered zone, which hosts the vanadiferous titanomagnetite deposit, consists up of 450 to 900 metres of rhythmically layered beds rich in pyroxene, titanomagnetite plus ilmenite, intercalated with layers of anorthositic gabbro. The vanadium mineralization is located in the lowermost part, namely the P1, P2 and P3 units. Vanadium strongly partitions into magnetite, and thus into the first titanomagnetite layers. Abundance of titanomagnetite decrease upward (Allard, 1967).

Local stratigraphy is presently defined as follow, from bottom (North) to top (South), and more recently refined by Arguin (2017):
- Footwall anorthosite, free of magnetite.
- P0: Anorthosite with small scattered beds of magnetite.
- P1: Anorthosite with abundant and thick beds of magnetite.
- P2: Magnetite and layered gabbros, main ore body.
- P3: Magnetite-ilmenite bearing pyroxenite.
- Hanging wall, mainly gabbro and pyroxenite.

Lenses of anorthosite, metres to tens of metres in thickness, are intercalated within the above units, which were considered as stratigraphic units by Allard (1967).

Vanadiferous mineralization at Lac Doré is composed of titanomagnetite and ilmenite, hosted in anorthosite, anorthositic gabbros and gabbros, within the layered series of the Lac Doré Complex. Magnetite and ilmenite, associated in various proportions depending on stratigraphy, are found either as massive beds, decimetres to metres thick, or as dissemination within anorthositic and gabbroic facies. Overall, the deposit contains about 30% magnetite, the main reservoir for vanadium, plus 10% ilmenite. Oxides are best described as orthocumulate phase in the massive beds, or intercumulate while disseminated in host rock. Typical abundances and vanadium grades for the various units as estimated from McKenzie Bay Resources channel samples

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityUnitsAvg. Annual
All production numbers are expressed as concentrate.

Operational metrics

Metrics
Daily mining rate 29,700 t *
Annual mining rate 10,680,000 t *
Annual ore mining rate 4,000,000 t *
Stripping / waste ratio 1.34 *
* According to 2017 study.

Production Costs

CommodityUnitsAverage
Total cash costs VTM USD 56.9 / t *  
Assumed price VTM USD 100 / t *  
* According to 2017 study / presentation.

Project Costs

MetricsUnitsLOM Total
Working capital $M CAD  ......  Subscribe
Closure costs $M CAD  ......  Subscribe
Total CapEx $M CAD  ......  Subscribe
OP OpEx $M CAD  ......  Subscribe
Processing OpEx $M CAD 540
Total OpEx $M CAD  ......  Subscribe
Operating margin, %  ......  Subscribe
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscribe
Pre-tax NPV @ 0% $M CAD  ......  Subscribe
Pre-tax NPV @ 5% $M CAD  ......  Subscribe
Pre-tax NPV @ 10% $M CAD  ......  Subscribe
After-tax NPV @ 0% $M CAD  ......  Subscribe
After-tax NPV @ 5% $M CAD  ......  Subscribe
After-tax NPV @ 10% $M CAD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 19, 2023
....................... Subscription required ....................... Subscription required ........... Subscription required Dec 19, 2023
....................... Subscription required ....................... Subscription required Subscription required Dec 10, 2020

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