Summary

Mine Type	Open Pit
Study Completed	Feasibility
Status	Inactive / Suspended
Commodities	Iron Ore
Mining Method	Truck & Shovel / Loader
Mine Life	...
Snapshot	Abaxx owns the LabMag and KeMag iron ore assets, which were owned by New Millenium Iron Corp. and continue to be held by Abaxx after the reverse take-over of New Millennium Iron Corp. The Company is not undertaking any iron ore development due to its technology-focused plan. Although the Company does not believe that the LabMag and KeMag iron ore assets have material value at present, the Company developed an understanding that the market for “green” commodities may evolve to include certain types of iron ore deposits which could increase in value of the LabMag and KeMag iron ore assets. In particular, the LabMag and KeMag iron ore assets are “taconite” iron ore assets. The processing of taconite iron ore involves the production of iron ore pellets which can be optimal feedstock for electric arc furnaces.

Deposit type

• Banded iron formation

Summary:

The Property is located in the western margin of the Labrador Trough that extends for more than 1,000 km, from Ungava Bay to Lake Pletipi in Quebec. The belt is about 100 km wide in its central part and narrows considerably to the north and south. The Grenville Front crosses the southern part of the Trough. The rocks in the Labrador Trough are subdivided into an upper volcanic-dominated suite (Doublet Group) and a lower sedimentary sequence (Knob Lake Group) that includes the Sokoman Formation hosting the iron formations found in the region.

The KéMag iron deposit consists of magnetite Banded Iron Formation (“BIF”) of the Lake Superior type. BIFs are sedimentary rocks composed of alternating mm- to cmscale beds of quartz (chert or jasper) and iron oxides (predominantly magnetite and hematite). Variable amounts of gangue minerals, mostly silicates, carbonates and sulphides are present. Banded iron formations have greater than 15 % iron content and represent the principal sources of iron throughout the world and are mined in the Great Lakes region of the United States. The Lake Superior-type BIF are associated with typical shelf-type sedimentary rocks with minimal volcanic input and most formed during the Paleoproterozoic era.

Mining Methods

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Comminution

Crushers and Mills

Processing

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Commodity Production

Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Sep 25, 2025