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Canada
Deep Fox and Foxtrot Project

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 Location:
10 km NW from Saint Lewis, Newfoundland and Labrador, Canada

  Project Contacts:
1 Ray Saunders Drive PO Box. 82
St. Lewis
Newfoundland and Labrador, Canada
A0K 4W0
Phone  ...  Subscription required
WebsiteWeb
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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit & Underground
Commodities
  • Dysprosium
  • Praseodymium
  • Neodymium
  • Terbium
  • REE
Mining Method
  • Truck & Shovel / Loader
  • Longhole stoping
  • Cemented backfill
  • Dry waste backfill
Mine Life26 years (as of Jan 1, 2022)


Owners

Source: p. 13
CompanyInterestOwnership
Search Minerals Inc. 100 % Indirect
Search Minerals, through its wholly-owned subsidiary Alterra Resources Inc. (Alterra), owns Deep Fox and nearby Foxtrot, as well as a number of mineral prospects on its 100% owned Critical REE District spanning approximately 64 km.

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Magmatic
  • Volcanic hosted


Summary:

Rare earth element (REE) and rare earth metal deposits can be divided into two main classifications: primary magmatic REE deposits and secondary REE deposits. The vast majority of deposits are primary magmatic and many of the secondary ones are proximal to REE-enriched primary magmatic sources. Most magmatic deposits are related to mantle-derived magmas and/or magmatism associated with crustal rifting. Metamorphic equivalents of these main categories are also known but not distinguished in this classification.

Primary magmatic deposits can be subdivided into peralkaline oversaturated, peralkaline undersaturated, and carbonatite deposits. Peralkaline deposits, both oversaturated (quartz-bearing or quartz normative) and undersaturated (nepheline-bearing or nepheline normative) are mainly HREE- enriched, while carbonatite deposits are commonly LREE-enriched; some carbonatite high-level vein systems are also HREE-enriched. Peralkaline rocks and carbonatites are known to occur in similar geological settings and can be spatially related.

Primary magmatic REE deposits are formed by concentration of REE and other incompatible elements (e.g., Zr, Nb, fluorine (F), U, Th, hafnium (Hf)) in the upper portions of magma chambers. These incompatible element-enriched magmas are either crystallized in place, are transported to locations proximal to the magma chamber, or are transported to surface and deposited as volcanic products.

Peralkaline oversaturated vo ........


Mining Methods

  • Truck & Shovel / Loader
  • Longhole stoping
  • Cemented backfill
  • Dry waste backfill


Summary:

Mining is proposed to be carried out at Deep Fox and Foxtrot using a combination of open pit and underground methods. Mining will first take place at Deep Fox using open pit and underground methods over a period of approximately 11 years. Open pit operations at Foxtrot will commence in the last two years of the Deep Fox underground operation. Once mining is completed at Deep Fox, mining will transition completely to Foxtrot to extend the mine life an additional 15 years (six years open pit and nine years underground) for an overall mine life of approximately 26 years.

Open Pit Mining.
The open pit mining production rate is assumed to be 720,000 tpa, or 2,000 tpd, of REE bearing material. For the purposes of this Technical Report, it is assumed that mining would be carried out year-round, however, given the relatively low production rate, there is the possibility of carrying out mining over a condensed period (six months) to avoid harsher conditions during the winter season.

Run of mine (ROM) mineralized material will be placed in a stockpile adjacent to the Primary Production Plant located near Deep Fox. ROM material will be fed to the concentrator using a front-end loader (FEL).

Mining will be carried out by a contractor using conventional truck and shovel open pit methods consisting of the following activities:
• Drilling performed by conventional production drills.
• Blasting using ammonium nitrate fuel oil (ANFO) and a down ........


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Dysprosium Carbonate kg 3,124,510
Praseodymium Carbonate kt  ......  Subscription required
Neodymium Carbonate kg  ......  Subscription required
Terbium Carbonate kg  ......  Subscription required
REE Carbonate kg  ......  Subscription required
Total Rare Earth Oxides Concentrate kt  ......  Subscription required

Operational Metrics:

Metrics
Daily milling rate  ......  Subscription required
Stripping / waste ratio  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Tonnes milled, LOM  ......  Subscription required
Annual processing rate  ......  Subscription required
Annual milling rate  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

Reserves at December 31, 2021:
Open Pit Mineral Resources were reported inside a resource shell at pit discard Net Value cut-off value of $260/t. Underground Mineral Resources were constrained with mineralization wireframes below the resource shell and validated using underground mining solids based on a Net Value cut-off value of $335/t. Both cut-off values account for all processing, G&A, refining, and transportation charges. Mining costs were assumed at $6.50/t ore mined and $5.00/t waste mined for open pit and $75.00/t for underground.

CategoryTonnage CommodityGrade
Indicated 15,094 t Dysprosium 185 ppm
Indicated 15,094 t Praseodymium 375 ppm
Indicated 15,094 t Neodymium 1402 ppm
Indicated 15,094 t Terbium 32 ppm
Inferred 6,303 t Dysprosium 188 ppm
Inferred 6,303 t Praseodymium 369 ppm
Inferred 6,303 t Neodymium 1382 ppm
Inferred 6,303 t Terbium 32 ppm

Commodity Production Costs:

CommodityUnitsAverageAverage
Assumed price Dysprosium USD  ......  Subscription required&nbs
Assumed price Terbium USD  ......  Subscription required&nbs
Assumed price Praseodymium USD  ......  Subscription required&nbs
Assumed price Neodymium USD  ......  Subscription required&nbs
* According to 2022 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2022
OP mining costs ($/t mined) CAD 6.5 *
UG mining costs ($/t mined) CAD  ......  Subscription required
Combined mining costs ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

2022 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
OP OpEx $M CAD  ......  Subscription required
UG OpEx $M CAD  ......  Subscription required
G&A costs $M CAD 249
Total OpEx $M CAD  ......  Subscription required
Total Taxes $M CAD  ......  Subscription required
Royalty payments $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Net revenue (LOM) $M CAD  ......  Subscription required
Operating margin (LOM) $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 10% $M CAD  ......  Subscription required
Pre-tax NPV @ 8% $M CAD  ......  Subscription required
After-tax NPV @ 10% $M CAD  ......  Subscription required
After-tax NPV @ 8% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of May 31, 2022:
HME TypeModelSizeQuantityLeased or
Contractor
ANFO Loader ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
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....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
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....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
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....................... Subscription required ....................... Subscription required Leased
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....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNamePhoneEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 19, 2022
....................... Subscription required ....................... Subscription required Subscription required May 31, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Aug 19, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2022

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Preliminary Economic Assessment 2022
................................... Subscription required 2021
Preliminary Economic Assessment 2016
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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