.
Location: 42 km NW from Schefferville, Newfoundland and Labrador, Canada
Level 2, 45 Richardson StreetPerthWestern Australia, Australia6005
Stay on top of the latest gold discoveries. Examine the latest updates on drilling outcomes spanning various commodities.
Mining scale, mining and mill throughput capaciites.Full profiles of select mines and projects.
Shaft depth, mining scale, backfill type and mill throughput data.Full profiles of select mines and projects.
Equipment type, model, size and quantity.Full profiles of select mines and projects.
Camp size, mine location and contacts.Full profiles of select mines and projects.
Vale’s initial Phase 1 funding of USD 18 million does not grant it any ownership in the project. Ownership remains entirely with Cyclone unless Vale chooses to proceed to Phase 2. If Vale elects to begin Phase 2, a joint venture will be formed in which Vale will immediately receive a 30% interest.
As Vale contributes up to USD 120 million to complete feasibility studies, environmental work, and other de-risking activities, its interest in the project will rise to 75% once the full Phase 2 contribution is made or once Vale decides to move the project to a mine-development decision.
If Vale chooses not to enter Phase 2, the project remains 100% owned by Cyclone.
At Iron Bear, the Greenbush Zone hosts Lake Superior-type taconite banded iron formation (BIF). BIF comprises banded sedimentary rocks composed of magnetite and haematite bands within a cherty silica matrix with variable amounts of silicate, carbonate and sulphides. Mineralisation is predominantly magnetite (Fe3O4) and haematite (Fe2O3), with some carbonaceous siderite and ferroankerite, as well as in silicates. The iron oxide bands alternate with grey chert or jasper, producing the banding typical of BIF.The general stratigraphy of the area comprises two sedimentary cycles, Cycle 1 comprising earlier rock types such as the Denault dolomite and chert breccia of the Fleming Formation; and Cycle 2 including black shales of the Wishart Formation overlain by the Sokoman Formation. In structurally complex areas, weathering has resulted in formation of limited secondary haematite, goethite and limonite.The BIF exhibits a northwest strike and a corrugated topography resulting from elevated parallel ridges of quartzite and BIF alternating with subdued shales and slates. Unaltered BIF is gently dipping but Proterozoic Hudsonian Orogeny compressed the sediments into a series of synclines and anticlines intersected by steep angle reverse faults that dip to the east. The synclines are overturned at the southwest of Iron Bear, with its eastern extent truncated by strike faults.Secondary iron deposits occur in canoe-shaped synclines, with some tabular bodies extending to depth. There is local supergene enrichment to high-grade ores, especially in synclinal depressions or down-faulted blocks. Two zones of mineralisation have been defined: the Greenbush Zone, located near Greenbush Lake and the Northwest Zone, near the northwest boundary.The Mineral Resource estimate for Iron Bear is defined along approximately 10,000 m of strike length and a range of 5,000 to 7,500 m of width for the central portion, to a depth pf 400m.
- subscription is required.
