Overview
| Stage | Permitting |
| Mine Type | Open Pit |
| Commodities |
|
| Mining Method |
|
| Mine Life | 20.25 years (as of Jan 1, 2021) |
Key permit and environmental monitoring work is ongoing at Mustavaara. |
| Latest News | Strategic Resources Closes Convertible Notes January 23, 2023 |
Source:
p. 21
On February 10 th 2020, Strategic Resources Inc. announced that it had successfully applied for Reservations over the Mustavaara mine area. The company also acquired all of the intellectual property together with the core samples from the 2011 drill campaign and storage facilities associated with Mustavaara from the bankruptcy estate of Ferrovan Oy (Strategic Resources, 2020).
The Mustavaara project consists of three exploration reservations and has a surface extent of 2,660 hectares. All reservations have been approved by Finnish Safety and Chemicals Agency (Tukes) and are valid until February 9 th , 2022.
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Deposit Type
- Magmatic
- Intrusion related
Summary:
The Mustavaara deposit is characteristic of a vanadiferous titanomagnetite deposit (VTM), which are typical mafic layered intrusions.
Mustavaara magnetite gabbro lies in the upper part of the Porttivaara intrusion (part of Koillismaa igneous complex) where it forms a coherent layer following the general layering of the intrusion. The magnetite gabbro is plagioclaseaugite-ilmenomagnetite adcumulate with sharp lower contact and gradual upper contact which is characteristic for VTM deposits.
The Mustavaara deposit is a vanadium bearing magnetite gabbro horizon which is part of a large mafic layered intrusive complex, known as the Koillismaa Layered Igneous Complex. The age of the intrusion is approximately 2,400 to 2,500 Ma. This sheet like body intruded into the Archean basement as a single body with a total length of 100 km and a thickness of up to 3 km. This body has separated into at least 5 distinct large blocks due to later folding and faulting. The block containing the Mustavaara deposit is the Porttivaara Block, with a total approximate length of 19 km.
The layered intrusion is divided into a marginal series (50 to 250 m thick) at the base and a thick layered series (up to 2,500 m thick) making up the bulk of the intrusion. The layered series is mainly composed of norites, gabbronorites, leucogabbros and anorthosites. The ore- bearing Mustavaara magnetite-gabbro occurs in the upper part of the layered series, surrounded by anorthosite ro ........
Summary:
The mine design and mine planning for Mustavaara project is based on the Mineral resource estimate. The Mustavaara deposit mine plan was developed based on the assumption that the mine is operated by an owner operated fleet. The selected conventional truck and shovel excavation is a commonly used mining method in Finland and there is a widely available skilled work force. The mining will start by expanding the existing open pit to west and eventually the maximum open pit dimensions are reached by utilizing a one ramp configuration in the open pit.
A detailed hydrological study has not yet been performed and it is recommended to be done in the next project phase. The created life of mine plan (LOM) supports approximately 20 years of production at Mustavaara. The planned annual mining rate is 3.25 Mt of processed material and the total strip ratio during the life of mine is 1.7. Waste rock mining varies between 4.2 to 7.5 Mt during the main production period.
The open pit optimization results that were used as a base for mine design are based on Measured, Indicated and Inferred mineral resources. The Company further cautions that the PEA is preliminary in nature. No detailed mining study has been completed to support reserve estimation.
The designed open pit is 1,935 meters long (SW–NE) and 435 meters wide (NW–SE). The maximum depth of the pit is 199 meters, calculated from the top of the existing ramp.
Source:
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Flow Sheet:
Summary:
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Reserves at September 14, 2020:
The cut-off grade used for Mineral Resources estimates is 11% Magnetite.
| Category | Tonnage | Commodity | Grade | Contained
Commodity |
|
Measured
|
Mt
|
Iron
|
|
6,244 kt
|
|
Measured
|
Mt
|
Vanadium
|
|
90 kt
|
|
Measured
|
Mt
|
Titanium
|
|
370 kt
|
|
Measured
|
64 Mt
|
Iron (magnetite)
|
63.3 %
|
|
|
Indicated
|
Mt
|
Iron
|
|
3,805 kt
|
|
Indicated
|
Mt
|
Vanadium
|
|
53 kt
|
|
Indicated
|
Mt
|
Titanium
|
|
214 kt
|
|
Indicated
|
39.7 Mt
|
Iron (magnetite)
|
62.8 %
|
|
|
Measured & Indicated
|
Mt
|
Iron
|
|
10,049 kt
|
|
Measured & Indicated
|
Mt
|
Vanadium
|
|
143 kt
|
|
Measured & Indicated
|
Mt
|
Titanium
|
|
584 kt
|
|
Measured & Indicated
|
103.7 Mt
|
Iron (magnetite)
|
63.1 %
|
|
|
Inferred
|
Mt
|
Iron
|
|
3,971 kt
|
|
Inferred
|
Mt
|
Vanadium
|
|
59 kt
|
|
Inferred
|
Mt
|
Titanium
|
|
239 kt
|
|
Inferred
|
42.2 Mt
|
Iron (magnetite)
|
62.3 %
|
|
Corporate Filings & Presentations:
| Document | Year |
|
...................................
|
2021
|
|
...................................
|
2021
|
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