Canada

Thierry Project

Click for more information

Categories

Overview

Mine TypeUnderground
StagePreliminary Economic Assessment
Commodities
  • Copper
  • Nickel
  • Platinum
  • Palladium
  • Gold
  • Silver
Mining Method
  • Longitudinal retreat
  • Longhole stoping
Backfill type ... Lock
Mine Life... Lock

Owners

SourceSource
CompanyInterestOwnership
Canadian Critical Minerals Inc. 39 % Indirect
Orecap Invest Corp. 45 % Indirect
October 4, 2023 - Canadian Critical Minerals Inc. hereby announces that it has sold controlling interest in its subsidiary company Pickle Lake Minerals Inc. ("Pickle Lake") which holds a 100% interest in the Thierry Copper Mine.

Orecap will acquire a 45% interest in Pickle Lake.

QC Copper will acquire 10% of Pickle Lake for $300,000 in an upfront all-cash deal.

Ocean Partners will acquire 6% of the common shares of Pickle Lake.

On October 31, 2023, Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") completed the sale of a controlling interest in its private subsidiary company Cuprum Corp. (formerly Pickle Lake Minerals Inc.) ("Cuprum") which holds a 100% interest in the Thierry Copper Mine ("Thierry"), located in Pickle Lake, Ontario to Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) ("Orecap"). CCMI retains a 39% interest in Cuprum.

Contractors

Lock

- subscription is required.

Deposit type

  • Breccia pipe / Stockwork
  • Magmatic

Summary:

Early investigations of the Thierry Deposit by workers such as Bowdidge (1970), Patterson (1980), and Patterson and Watkinson (1983, 1984) concluded that the ores at the Thierry Deposit had undergone intense modification after their initial deposition as magmatic sulphides. This observation also applies to the K1-1 area.

Any model of mineralized rock genesis at the Thierry Project must take into account the unusual Cu/Ni, Pt/Pd and chalcopyrite pyrrhotite ratios in the rocks. According to Naldrett and Cabri (1976), intrusive complexes similar to those at Thierry Deposit contain sulphides with a coppernickel ratio of 2:1, a platinum-palladium ratio of 1:4, and a chalcopyrite/pyrrhotite ratio of 1:10.These ratios at the Thierry Deposit are approximately: copper-nickel 8:1, platinum/palladium 1:4 and chalcopyrite/pyrrhotite 1:1.

Mineralization at the main Thierry and adjacent K1-1 deposits, is more or less coincident with what is best characterized as a chlorite biotite-hornblende altered mylonitic shear zone (the “CBS shear zone”). The shear zone extends across the ultramafic intrusive along a strike length of about one kilometre and a width up to 50 m. Within the shear zone mineralization is hosted by highly schistose rocks containing stringer sulphides to less schistose ultramafic rocks containing massive stringers or veins and disseminated sulphides. Primary sulphides, listed in approximate order of decreasing abundance are pyrrhotite, chalcopyrite, pyrite and pentlandite. Cubanite, bornite, magnetite and minor ilmenite have also been identified. Violarite and mackinawite have developed from alteration of pentlandite.

Outside of the main mineralized zone, chalcopyrite and bornite occur as stringers as well as finely dissemination sulphides. Bornite is commonly associated with carbonate and quartz veins. Oxidized mineralizations are reported to contain violarite, millerite and bornite.

Copper-nickel-PGE mineralization at the Thierry and K1-1 deposits is hosted within a highly deformed and altered ultramafic sequence. Copper-nickel-PGE mineralization consists of:
- Sulphide matrix breccia;
- Blebs and small stringers, occasionally net textured sulphides; and
-Disseminated sulphides.

The sulphide mineral assemblage consists of chalcopyrite, pyrrhotite, pentlandite and pyrite.

Reserves

Lock

- subscription is required.

Mining Methods

Lock

- subscription is required.

Comminution

Crushers and Mills

Lock

- subscription is required.

Processing

Lock

- subscription is required.

Production

CommodityProductUnitsDailyLOM
Copper Concentrate kt  ....  Subscribe880
Nickel Payable metal M lbs 21
Copper-Nickel Concentrate kt  ....  Subscribe157

Operational metrics

Metrics
Daily mining rate  ....  Subscribe
Daily processing rate  ....  Subscribe
Daily processing capacity  ....  Subscribe
Annual processing rate  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
* According to 2021 study.

Production Costs

CommodityUnitsAverage
Cash costs Copper Equivalent USD  ....  Subscribe
All-in sustaining costs (AISC) Copper Equivalent USD  ....  Subscribe
Assumed price Palladium USD  ....  Subscribe
Assumed price Platinum USD  ....  Subscribe
Assumed price Nickel USD  ....  Subscribe
Assumed price Copper USD  ....  Subscribe
Assumed price Silver USD  ....  Subscribe
Assumed price Gold USD  ....  Subscribe
* According to 2021 study / presentation.
** Net of By-Product.

Operating Costs

Currency2021
UG mining costs ($/t mined) CAD 40 *  
UG mining costs ($/t milled) CAD  ....  Subscribe
Processing costs ($/t milled) CAD  ....  Subscribe
G&A ($/t milled) CAD  ....  Subscribe
Total operating costs ($/t milled) CAD  ....  Subscribe
* According to 2021 study.

Project Costs

MetricsUnitsLOM Total
Pre-Production capital costs $M CAD  ......  Subscribe
Sustaining CapEx $M CAD  ......  Subscribe
Closure costs $M CAD  ......  Subscribe
Total CapEx $M CAD  ......  Subscribe
UG OpEx $M CAD  ......  Subscribe
Processing OpEx $M CAD 263.3
Backfill costs $M CAD  ......  Subscribe
Transportation (haulage) costs $M CAD 167.4
G&A costs $M CAD 96.5
Total OpEx $M CAD  ......  Subscribe
Total Taxes $M CAD  ......  Subscribe
Net revenue (LOM) $M CAD  ......  Subscribe
EBITDA (LOM) $M CAD  ......  Subscribe
After-tax Cash Flow (LOM) $M CAD  ......  Subscribe
After-tax NPV @ 5% $M CAD  ......  Subscribe
After-tax NPV @ 10% $M CAD  ......  Subscribe
After-tax NPV @ 6% $M CAD  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

Lock

- subscription is required.

Personnel

Mine Management

Job TitleNamePhoneEmailProfileRef. Date
....................... Subscription required ....................... Subscription required ........... Subscription required ........... Subscription required Subscription required Dec 30, 2023

Aerial view:

Lock

- subscription is required.