Temas Commences Drilling On Its 100% Owned La Blache Ti-V-Fe Project In Quebec
Temas Resources Corp. (“Temas” or the “Company”) [CSE: TMAS] is pleased to report that it has commenced a helicopter supported diamond drill program at its La Blache Ti-V-Fe project in Quebec. This infill drill program is the next step towards a Preliminary Economic Assessment (“PEA”). This program is designed to confirm historic drill results and to tighten the spacing with the goal of improved confidence from historic estimates. Temas intends to drill roughly 4000m over 15 holes. To date the company has completed a positive metallurgical study (released July 28, 2022) and market studies that will guide key parameters of the study, which Temas is targeting completion in the first half of 2023. Temas has engaged Magnor Exploration Inc., to manage the drill program and CSA Global Canada Ltd., (now ERM Consultants Canada Ltd.,) to complete the PEA.
Overview
The La Blache Project is comprised of 176 claims and covers 9466.97 hectares. It is located 100 km north of the community of Baie-Comeau, Quebec. The property located within the La Blache Anorthosite Complex and hosts the Farrell-Taylor magnetite-ilmenite lens The La Blache Anorthosite Complex is a roughly ellipsoidal batholith of 35 km by 20 km within intrusive rocks that extends for 100 km by up to 20 km. Contained within the complex are four lenses of titaniferous magnetite lenses occur as tabular bodies which extend over a 17km long arc, located roughly in the centre of the complex, with the mineralization starting at surface and extending to depth. The anorthosites are cut by granite and pegmatite dykes which range in thickness from centimeters to a few metres.
Advantages
TiO2 technology developed by ORF proved to be 144.8% more cost-efficient than conventional processes. TiO2 is in demand and price increases in the first 6 months of 2021 from most producers has increased by $400 per ton. Quebec is a very favourable province for mining. Preliminary metallurgical testing using this proprietary technology yielded 90% recovery of Iron and 95% recovery of Vanadium into a final high-purity product. A titanium dioxide (TiO2) product suitable for further processing to pigment-grade TiO2 was recovered in the testing completed earlier this year. The Quebec and Federal Governments consider titanium and vanadium strategic minerals.
About Temas Resources
Temas Resources Corp. (CSE: TMAS) (OTCQB: TMASF) is focused on the advancement of mineral independence and processes by which mineral products (nickel, iron, copper, gold, ilmenite and other sulphide and oxide mineral ores and concentrates) are processed and recovered using sustainable hydrometallurgical technologies. The Company invests in and works to apply its green technologies across its mining portfolio to reduce the environmental impact and carbon footprint of metal extraction through advanced processing and patented leaching technologies. The Company is advancing Iron-Titanium-Vanadium projects in Quebec and soon expects to be active at its boron project in Serbia.
Pursuant to the Option Agreement, Temas Resources may earn a 50% interest in the Piskanja Project by (a) issuing to Erin Ventures 250,000 common shares (completed) and 250,000 Temas warrants (completed) (each exercisable to acquire a common share for a period of 48 months from issuance, at an exercise price equal to the market price of the common shares less the maximum allowable discount pursuant to stock exchange policies) within five business days after the effective date of the Option Agreement, and (b) incurring an aggregate of €10,500,000 in expenditures on the Piskanja Project. The Option Agreement may be terminated in certain circumstances, including by Erin Ventures if certain milestones are not met in accordance with specified timelines. Upon exercise of the option by Temas Resources, a joint venture will be formed and Erin Ventures and Temas Resources will become associated as joint venturers to further advance the Piskanja Project.
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