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Canada
Eco Ridge Project

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 Location:
11 km E from Elliot Lake, Ontario, Canada

  Project Contacts:
Hwy 108 N Truck Terminal Site
Elliot Lake
Ontario, Canada
P5A 2T1
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  • Overview
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  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
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  • Filings & News

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Overview

StatusInactive / Suspended
Mine TypeUnderground
Commodities
  • REE
  • Uranium
Mining Method
  • Room-and-pillar
Mine Life11 years (as of Jan 1, 2012)


Owners

Source:
CompanyInterestOwnership
Indirect
In a June 1, 2017 announcement, Pele Mountain Resources said Eco Ridge remains “uneconomic” due to low uranium and rare earths prices. It has sold Eco Ridge’s claims, surface rights and leases to an unnamed purchaser for $380,000.

Contractors

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Deposit Type

  • Sedimentary


Summary:

The uranium deposits at Elliot Lake are contained in the sediments of the westward plunging (~15°) Quirke syncline. The mineralization is surrounded to the north and east by Archean granites and to the south by Archean mafic metavolcanic and metasedimentary rocks. Depth from surface to the centre of the Quirke syncline is estimated at approximately 1,500 metres.

Mineralization at Eco Ridge is contained in the conglomerate beds of the Ryan Member, which is roughly 100 metres thick and consists of quartzite of a distinctly green colour (sericite alteration) and quartzite with intercalated quartz-pebble conglomerates. The quartz-pebble conglomerate beds containing uranium and REOs are located in the west-northwest channels of the Matinenda Formation. The Ryan Member represents the lower Matinenda and is characterized by an increase in the amount of pyrite. Low-grade mineralization is generally contained within the coarser-grained quartzite beds while higher grades are contained in quartz-pebble conglomerates with disseminated pyrite. A 30-metre thick Nipissing diabase dyke strikes east-west across the entire property and cross cuts mineralization.

The reefs inside the Pardee Channel on the south limb of the Quirke syncline hold the Eco Ridge deposit. It is believed the stratigraphy of the mineralized reef in the Pardee Channel can be correlated to those of the Nordic Channel, where much of the region’s historic mining was conducted. The mineralized zones of ........


Mining Methods

  • Room-and-pillar


Summary:

A number of mining methods have been assessed by RPA and others for extraction of the MCB mineralization. The selected mining method was room and pillar, with both development and production contained within the mineralized zone. The development and production tonnage will be loaded into trucks and transported to surface for processing.

Although the MCB average mining thickness is 2.7 m, in RPA’s opinion, the deposit will support a high production rate. The lateral extents are such that multiple accesses from surface are feasible, providing many independent workplaces.

The use of conveyors instead of haul trucks for material handling, while not included in the base case, may provide economic advantages, and is worth consideration in future studies. Particular attention should be paid to impacts on grade distribution in production schedules for each option, as there may be less flexibility with conveyors, offsetting the cost advantage that they provide.


Crushing and Grinding


Processing

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Summary:

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Projected Production:

CommodityProductUnitsLOM
Total Rare Earth Oxides Carbonate kg 44,083,000
Uranium (U3O8) Yellow cake k lbs  ......  Subscription required

* According to 2012 study.

Reserves at April 16, 2012:

CategoryTonnage CommodityGradeContained 
Commodity
Indicated 48,737 kt Total Rare Earth Oxides 1157 g/t 124,295 k lbs
Indicated 48,737 kt Uranium (U3O8) 0.026 % 27,661 k lbs
Inferred 37,863 kt Total Rare Earth Oxides 1100 g/t 91,843 k lbs
Inferred 37,863 kt Uranium (U3O8) 0.026 % 21,762 k lbs

Commodity Production Costs:

CommodityUnits2022
Assumed price Total Rare Earth Oxides USD 90 / kg *  USD
Assumed price Uranium (U3O8) USD 70 / lb *  USD
* According to 2012 study / presentation.
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Operating Costs:

Units2022
UG mining costs ($/t mined) CAD 41.5 *
Processing costs ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2012 study.
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2012 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
UG OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 909
G&A costs $M CAD 119
Total OpEx $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Net revenue (LOM) $M CAD  ......  Subscription required
Operating margin (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 @ 10% $M CAD  ......  Subscription required
Pre-tax NPV @ 7.5% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
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Proposed Heavy Mobile Equipment as of June 20, 2012:
HME TypeSizeQuantity
Drill jumbo (two boom) ....................... Subscription required
....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
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Corporate Filings & Presentations:

DocumentYear
Press Release 2013
Technical Report 2012
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