Bellechasse Project

Bellechasse Deposit

The Bellechasse deposit is approximately 6 km northwest of the Fire Lake North Project (East and West pit deposits) and comprises a 10 km long curvilinear synform whose core hosts a magnetite-rich iron formation. The synformal geometry of the deposit is advantageous for open pit mining as it requires a lower strip ratio.

In 2009, P&E Mining Consultants Inc. completed a NI 43-101 in-pit Mineral Resource Estimate (MRE) reporting 177.2 million tonnes, grading 29.2 % total iron (FeT) based on diamond drilling along 8 km of the Bellechasse synform.

The Bellechasse, Oil Can and Fire Lake North deposits are all within close proximity and are now part of the Consolidated Fire Lake North Property; there exists an increased prospect for exploiting the Bellechasse resource utilizing the prospect common infrastructure to be developed to serve the Fire Lake North and Oil Can deposits.