Name of the Project
Mont Sorcier iron and vanadium project.

Location
The project is located near Chibougamau, in Quebec, Canada.

Project Owner/s
Vanadium One Iron Corp.

Project Description
A preliminary economic assessment (PEA) on Mont Sorcier has outlined a robust project, based on a traditional openpit mining scenario with magnetic separation processing, to produce about five-million tonnes of vanadium-rich iron concentrates a year, with low levels of impurities.

A mine plan has been developed, which processes 555-million tonnes of the current resource base over a 37-year mine life.

The PEA envisages the sequential mining of the project’s South zone, followed by the North zone using standard openpit drill, blast and haul mining techniques.

This will enable the South pit to be used for waste disposition in future years.

The processing plant designed for Mont Sorcier is in line with similar projects in production worldwide, using standard equipment and technologies.

The PEA has included crushing and grinding to a P95 of 45 μ to ensure the production of premium concentrate grades, with three stages of magnetic separation. Based upon the mine plan, Mont Sorcier is expected to produce a life-of-mine average concentrate grading 65% iron, with 0.6% vanadium pentoxide.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated pretax net present value, at an 8% discount rate, of C$2.51-billion and an internal rate of return of 41.5%, with a payback of three years.

Capital Expenditure
Upfront capital costs are estimated at C$457.5-million.

Planned Start/End Date
Not stated.

Latest Developments
Vanadium One believes it can improve the economics of the PEA through improved resource definition and growth, ongoing project optimisation efforts and further metallurgical testwork to enhance product quality even further.

The company plans on developing strategic partnerships to complete a feasibility study to bring the Mont Sorcier project to a formal investment decision as quickly as
possible.

Key Contracts and Suppliers
CSA Global Consultants Canada, Vulcan Technologies (PEA) and Corem (metallurgical testwork).

Contact Details for Project Information
Vanadium One Iron Corps, email info@vanadiumone.com.