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Canada

Raleigh Lake Project

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Overview

Mine TypeOpen Pit
StagePreliminary Economic Assessment
Commodities
  • Lithium
  • Spodumene
  • Rubidium
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotRaleigh Lake is a low-risk, low-impact, small-scale mining operation that can begin to provide critical minerals necessary to fulfil Canada’s Critical Mineral Strategy in a shorter time frame than would be required for a much larger scale, longer duration and more remotely located project. Revenues from the mine production would continue to feed back into exploration work to expand ILC’s drive to become a significant Critical Minerals supplier in North America.

This PEA only considers spodumene concentrate, i.e. lithium, as a revenue source. The Company continues to investigate the potential value associated with the extraction of rubidium from the microcline zone within the spodumene deposit.

The mining method selected for this project will use traditional open pit drilling and blasting followed by load and haul. Preliminary analyses indicated that there would not be sufficient mineral resource remaining after considering open pit mining to support underground mining.

Owners

SourceSource
CompanyInterestOwnership
International Lithium Corp. 100 % Indirect
Raleigh Lake is 100% owned by International Lithium Corp.

Contractors

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Deposit type

  • Pegmatite

Summary:

Deposit Type
The Raleigh Lake project falls under the classification of rare-metal pegmatites. The Project can be further sub-categorized as albite-spodumene type pegmatites. Pegmatites are a common plutonic rock that contains abundant crystals with skeletal, graphic, or strongly directional growth-habits, or anisotropic layered mineral fabrics. Giant or megacrystic crystals can also be present, and the rare-element pegmatites contain anomalous and elevated Be, Li, Ta, Sn, and Cs. The Raleigh Lake Project contains lithium-caesiumtantalum (“LCT”) pegmatites which are enriched in Li, Cs, Ta, Be, B, F, P, Mn, Ga, Rb, Nb, Sn, and Hf. Other examples of LCT pegmatite deposits include the Tin Mountain pegmatite in the United States, Tanco pegmatite in Canada and the Wodgina and Pilgangoora pegmatites in Western Australia. They are formed by fractional crystallization of an incompatible element-enriched granitic melt. Several factors control if barren granite will fractionate to produce a fertile granite melt (Cerný, 1991; Breaks, 2003):
- Presence of trapped volatiles: fertile granites crystallize from a volatile-rich melt.
- Composition of melt: fertile granites are derived from an aluminum-rich melt.
- Source of magma: barren granites are usually derived from the partial melting of an igneous source (I-type), whereas fertile granites are derived from partial melting of a peraluminous sedimentary source (S-type).
- Degree of partial melting: fertile granites require a high degree of partial melting of the source rock that produced the magma

Pegmatites
The rare-metal-bearing pegmatite dykes on the Property occur in a south¬-southeast striking zone approximately 1.5 kilometres wide and at least 4 kilometres long with a trend of tantalum-mineralized albitic dykes occurring south of Raleigh Lake. The main pegmatite trend, which includes Pegmatite 1 through 3 and the Johnson Pegmatite, belong to the albite-spodumene sub-type of rare metal pegmatites. These pegmatites are at least partially hosted within a sheared, coarse grained gabbro which is a common feature of rare-element pegmatite fields. Most of the pegmatites trend north-northeaster and dip to the east. The dyke mineralogy consists of K-feldspar + albite, including secondary cleavelandite, quartz and spodumene. Accessory minerals identified include microlite, tantalite, and bismuthinite.

The known pegmatites form shallowly to moderately dipping, north-northeast trending, undeformed sheets with a significant potential for extensive lateral continuity. Strong fractionation of contained minerals and weak zonation within the pegmatites suggests that strongly enriched rare-metal zonation may exist within other domains of the pegmatites. The pegmatites are hosted in both mafic and intermediate volcanic rocks. Crude zonation is evident in the wider pegmatites, with albitic “wall” zones and “core” intermediate zones of albite–quartz-muscovite or spodumene-K-feldspar-albite. The pegmatite zonation can be broken down into six crudely defined zones (Table 7-1). This includes the upper wall zone, the upper intermediate zone, quartz + spodumene + k-feldspar core, lower intermediate zone, lower wall zone, and late-stage albite zone. These zones are not as distinct as in some other pegmatite occurrences, and spodumene distribution within the Raleigh Lake pegmatites is homogenous. Spodumene crystals are generally green to pale green in colour, exhibiting tan colours locally in the presence of albite. Grains typically range in size from < 1 cm to > 8 cm, and display ragged, corroded grain boundaries that have undergone complete replacement by a dark green, aphanitic, serpentine-like assemblage.

Several “main” pegmatites have been identified within the property. These include Pegmatite 1, 2, 3 and the Johnson Pegmatite. Pegmatite 1 has a minimum surface exposure of 200 m, an average width ranging from 3.90 to 8.00 m, and has been traced along strike for 300 m and down dip for over 400 m. Average Li2O% are ~1.0% and up to 2.7% locally. It is crudely zoned with local strong albitization with heterogeneous intermediate zones consisting of light green to tan spodumene and K-feldspar in an albitic matrix with local muscovite. These zones are bounded by albitic "wall" zones. Pegmatite 1 is the widest and most laterally continuous pegmatite intercepted to date and forms a train of outcrops up to 10 m wide that extend for 200 m. Drilling has shown that Pegmatite 1 flattens down-dip from 15–20° easterly to a horizontal position. The country rock is albitized and contains exomorphic minerals of holmquistite and biotite adjacent to the dyke. This pegmatite, along with Pegmatite 3, is characterized by a strong crescumulate texture defined by elongate spodumene crystals up to 1.5 by 75 cm oriented normal to pegmatite contacts.

Pegmatite 2 was discovered and subsequently mapped by Breaks (1993) owing to the presence of several bright blue, holmquistite, bearing boulders nearby. The pegmatite is located approximately 800 m west of Microlite Lake and specifically noted to have a lithium dispersion halo greater than the Johnson Pegmatite at two metres. Lithogeochemical analyses show Pegmatite 2 to have the highest lithium assay of 2290 ppm to date.

Pegmatite 3, located SE of Microlite Lake, is exposed for ~50 m and is at minimum four metres thick at surface. It is crudely zoned with feldspathic wall zones and heterogeneous intermediate and "core" zones comprised of albite-quartz-muscovite, and spodumene-K-feldspar-albite. Diamond drilling has shown that Pegmatite 3 ranges up to 1.20 metres in thickness at depth but does show strong lateral continuity having been identified over approximately 300 m of strike length.

The Johnson Pegmatite, located 1400 metres north of Pegmatites 1, is exposed on surface for 83 metres along strike, with an apparent width of 3 to 4 metres. It consists predominantly of coarse white to pink K-feldspar and accessory muscovite and trace tantalum oxides. Diamond drilling of hole RL01-06 produced an average grade of 0.017% Ta205 over a core length of 2.65 metres.

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

CommodityProductUnitsAvg. AnnualLOM
Spodumene Concentrate kt 56415

Operational metrics

Metrics
Daily ore mining rate  ....  Subscribe
Daily milling capacity  ....  Subscribe
Annual ore mining rate  ....  Subscribe
Annual processing capacity  ....  Subscribe
Stripping / waste ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
Tonnes processed, LOM  ....  Subscribe
* According to 2023 study.

Production Costs

CommodityUnitsAverage
Cash costs Spodumene USD  ....  Subscribe
Assumed price Spodumene USD  ....  Subscribe
* According to 2023 study / presentation.

Operating Costs

CurrencyAverage
OP mining costs ($/t mined) CAD  ....  Subscribe
OP mining costs ($/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 2023 study.

Project Costs

MetricsUnitsLOM Total
Pre-Production capital costs $M CAD  ......  Subscribe
Sustaining CapEx $M CAD  ......  Subscribe
Closure costs $M CAD  ......  Subscribe
OP OpEx $M CAD  ......  Subscribe
Processing OpEx $M CAD 124.6
Transportation (haulage) costs $M CAD 31.1
G&A costs $M CAD 77.5
Total OpEx $M CAD  ......  Subscribe
Mining Taxes $M CAD  ......  Subscribe
Gross revenue (LOM) $M CAD  ......  Subscribe
Net revenue (LOM) $M CAD  ......  Subscribe
EBITDA (LOM) $M CAD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscribe
After-tax Cash Flow (LOM) $M CAD  ......  Subscribe
Pre-tax NPV @ 8% $M CAD  ......  Subscribe
After-tax NPV @ 8% $M CAD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Required Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Feb 8, 2025
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Aerial view:

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