Imperial Mining files positive NI 43-101 rare earths report for Crater Lake, Quebec
Imperial Mining Group Ltd. [IPG-TSXV; IMPNF-OTCQB] has filed a maiden NI 43-101 technical report for the 100%-owned Crater Lake TG zone mineral resource estimate to SEDAR. The highly favourable results encouraged the corporation to commence a preliminary economic assessment (PEA) study for the project, located 1,080 km northeast of Quebec City, Quebec, by awarding the contract of work to WSP Canada Inc.
“We are extremely pleased by the results of the resource estimate for the TG zone northern lobe, which far exceeded the minimum threshold resource we internally set for a 20- to 25-year notional mining operation, or 10 million tonnes,” said Peter Cashin, Imperial’s president and CEO. “The very favourable results reported by the resource estimate encouraged our team to rapidly move the project to complete a PEA study for the TG zone scandium-rare earth deposit. We look forward to working with the WSP team of engineers on our exceptional resource.”
Indicated Mineral Resources stand at 7.3 million tonnes grading 282 g/t scandium oxide (Sc2O3), 66 g/t dysprosium oxide (Dy2O3), 606 g/t lanthanum (La2O3), 596 g/t neodymium (Nd2O3) and 160 g/t praseodymium (Pr2O3). Inferred Resources are pegged at 13.2 million tonnes of 264 g/t Sc2O3, 62 g/t Dy2O3, 569 g/t La2O3, 573 g/t Nd2O3 and 154 g/t Pr2O3.
The objective of the PEA is to evaluate the preliminary economic feasibility for producing scandium oxide (Sc2O3) and a mixed rare earth carbonate mine-to-market production complex. Imperial’s base assumption would be to produce between 50 to 100 tonnes per year of high-purity Sc2O3 product. In addition, the construction of a scandium-aluminum master alloy (approximately 2% Sc and 98% Al) plant will be incorporated in the project plans. Final results will be documented in a NI 43-101 PEA-level technical report. WSP have informed the company the study results will likely be delivered by the middle of Q1 2022.