Voyager Metals Files Updated Mineral Resource Estimate Technical Report For Its Mont Sorcier Iron And Vanadium Project, Quebec
Voyager Metals Inc (Voyager or the “Company”) (TSXV:VONE) announces the filing on SEDAR of the Technical Report entitled “NI 43-101 Technical Report and Mineral Resource Estimate for the Mont Sorcier Project, Quebec, Canada”. The new mineral resource update was completed by InnovExplo, an independent engineering firm located in Quebec, Canada and has an effective date of June 9, 2022. The Mineral Resources Estimate (“MRE”) was prepared in accordance with Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). A summary of the results is highlighted below. It should be noted that the Inferred Resources in the table below are slightly different from those disclosed on June 9, 2022. In the course of writing this technical report, some adjustments were made to some deep inferred blocks in the block model resulting in a small decrease of the inferred MRE. The total has gone from 595 Mt to 547 Mt total inferred. The lost tonnage of Inferred material has been transferred to exploration potential and is not viewed as material to the overall MRE. Overall, Indicated Resources have increased by 565Mt, primarily in the North Zone, while total mineral resources has increased by 15% by drilling deeper in the North Zone relative to the previous MRE report issued in June 2021.
As announced on June 9, 2022, the updated mineral resource incorporates results from the 2021 infill drill program which was designed to upgrade sufficient Inferred Resources in the North Zone to the Indicated category in support of a future Bankable Feasibility Study, which is targeted to be completed by Q1 2023. The 2021 infill drill program consisted of 42 holes or 15,178 meters.
The MRE has defined an Indicated Mineral Resource in the North Zone of 559M tonnes grading 28.2% magnetite and 0.21% V2O5, with an additional 470M tonnes grading 26.4% magnetite and 0.18% V2O5 in the Inferred category up from 809M tonnes of Inferred Resources in the prior Mineral Resources Estimate. This represents a total mineral resource tonnage increase of 31% in the North Zone.
Total Indicated Resources for both the North Zone and the South Zone are now estimated at 679M tonnes grading 27.7% magnetite and 0.20% V2O5, with the potential to produce 195M tonnes of magnetite concentrate grading at least 65% Fe and 0.52% vanadium pentoxide (V2O5).
Total Inferred Resources for both the North Zone and the South Zone are now estimated at 547M tonnes grading 26.1% magnetite and 0.17% V2O5, with the potential to produce 148M tonnes of magnetite concentrate grading at least 65% Fe and 0.52% vanadium pentoxide (V2O5).
About Voyager Metals Inc.
Voyager Metals Inc is a mineral exploration company headquartered in Toronto, Canada. The Company is focused on advancing its Mont Sorcier, Vanadium-rich, Magnetite Iron Ore Project, located just outside of Chibougamau, Quebec.
At Mont Sorcier, Voyager is rapidly advancing the project towards Feasibility and permitting The project currently has Indicated Resources of 679M tonnes grading 27.7% magnetite and 0.20% V2O5, with the potential to produce 195M tonnes of magnetite concentrate grading at least 65% Fe and 0.52% vanadium pentoxide (V2O5) and a further Inferred Resource estimated at 547M tonnes grading 26.1% magnetite and 0.17% V2O5, with the potential to produce 148M tonnes of magnetite concentrate grading at least 65% Fe and 0.52% vanadium pentoxide (V2O5).
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