Deposit Types Magnetite mineralization at the Mont Sorcier Project shows several similarities to other vanadiferous titanomagnetite (“VTM”) deposits or ilmenite deposits associated with layered mafic intrusive complexes, such as the Bushveld Complex (South Africa) or the Skaergard Intrusion (Greenland). North Zone Following the 2021 drilling campaign, the west and central part of the North Zone has been divided into two main zones (Arguin, 2022): Lower (“LZ”) and Upper (“UZ”). The stratigraphic limit between the LZ and the UZ was established by the substantial chemical break between two distinct mineralogical domains (units 3 and 4). Both the LZ and the UZ are composed of distinct magnetite-bearing ultramafic units (or mineralogical domains). The LZ consists of units 1, 2 and 3, whereas the UZ is composed of units 4 and 5. The east part of the North zone is quite different from the west and central part as the subdivision into five units is not observed. It is essentially composed of ferro-pyroxenite, which is bordered by a “minor envelope” that consists of an inner horizon of talc-peridotite (metadunite) and an outer horizon of gabbroic rocks. No massive sulfides were reported in the east part of the North zone (Arguin, 2022). Unit 1 Unit 1 is located at the base of the LZ, generally in contact with anorthosite. The silicate matrix consists of a greenish-grey to bottle-green mixture of very fine grains. The grain size makes the matrix minerals difficult to identify with ........

It is planned to mine Mont Sorcier using traditional truck shovel open pit mining operations for the North zone of the project.

The mine will need to support a processing plant with nominal output of 5 Mtpa dry concentrate requiring on average 16.5 Mtpa mineralized material from the pit (peaking at 18.5 Mtpa). Plant recovery will depend on quality of mineralized material and concentration of the primary mineral – magnetite. Waste mining will be on average about 16 Mtpa.

Based on the selected pit from pit optimization work, a final pit was designed including a ramp, and catch berms following geotechnical slope parameters determined previously.

The final pit contains 354 Mt of mineralized material grading 30.10% Weight Recovery and a stripping ration of 1.0 to 1.

Mining Fleet
The planned mine production fleet will consist of 190 t trucks and matching large excavators (49 t). The fleet will be supported by production drills, wheel loaders and dozers. Purchase of equipment is spread over a number of years, in line with the mine production schedule.

The primary mining equipment will require support or auxiliary equipment to support pit operation and maintenance of equipment, roads, dewatering, fleet management, lighting and carry the workforce from the town and around the production areas.

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The concentrator utilities and services area includes water supply and plant instrument air distribution.

Two separate water supply systems are provided to support the operation: a fresh water tank and a process water tank:
• Fresh water is supplied from the nearby lake system and is used for fire water emergency use, reagents preparation and gland seal water;

• Process water consists of concentrate and tailings thickener overflow and reclaimed water from the tailings pond.