Developing Iron Ore Deposit with Substantial Vanadium in Quebec
This Vanadium One Iron profile is part of a paid investor education campaign.*
Vanadium One Iron Overview
Vanadium One Iron Corp. (TSXV:VONE,FWB:9VR1) is a mineral exploration company focused on advancing its Mont Sorcier iron ore-vanadium project in Quebec, Canada to produce high-quality iron and vanadium products. According to the Fraser Institute, Quebec is a top mining jurisdiction in the world, offering mining companies access to world-class infrastructure such as low-cost hydropower, a skilled mining workforce and access to international markets.
Vanadium One Iron’s Mont Sorcier project is a bulk tonnage iron ore and vanadium deposit with low titanium content. Mont Sorcier’s unique low-titanium iron-vanadium deposit has the potential to produce an iron-vanadium concentrate for use directly in blast furnaces by existing Vanadium slag producers and in steel production.
The company recently released a maiden resource estimate for the property in June 2019. The report outlines an indicated resource of 35 million tonnes of magnetite concentrate grading 65.3 percent iron and 0.6 percent vanadium with an inferred resource of 178.3 million tonnes of magnetite concentrate grading 64.4 percent iron and 0.6 percent vanadium.
Moving forward, Vanadium One Iron intends to complete additional metallurgical testing, environmental baseline studies and a preliminary economic assessment (PEA) for Mont Sorcier. The company expects its PEA to outline an open pit mining operation with a conventional on-site crush, grind and magnetic separation plants. Vanadium One Iron believes that the property can support a production capacity of approximately 5 million tonnes grading 65 percent iron and 0.61 percent vanadium over a mine life of 25 years.
The property is approximately 25 kilometers from the CN Rail terminal, providing Vanadium One Iron direct access to deep water ports and the international markets. Vanadium One Iron intends to utilize its strategic location to the CN Rail system to ship its iron ore to blast furnaces for further refinement once Mont Sorcier is in production. After the iron ore is processed, the company intends to retain the vanadium produced as a by-product, giving the company an additional revenue stream.
Vanadium One Iron’s management team has a wealth of experience building and adding value to mining projects. The team’s expertise will help them push the Mont Sorcier project towards production. Management is also strategically aligned with its shareholders, holding over 18 percent of the company’s shares.
Vanadium One Iron Company Highlights
- Located in Top Tier mining jurisdiction of Quebec, Canada.
- Just 18 km from Chibougamau with access to low-cost hydropower and a skilled mining workforce.
- Excellent infrastructure just 25 km from the CN Rail terminal by road, providing access to deep water ports and international markets.
- Low-titanium content at Mont Sorcier has the potential to produce an iron-vanadium concentrate for use directly in blast furnaces by existing Vanadium slag producers and in steel production.
- Vanadium One Iron’s maiden resource estimate outlines an indicated resource of 35 million tonnes of concentrate grading 65.3 percent iron and 0.6 percent vanadium with an inferred resource of 178.3 million tonnes of concentrate grading 64.4 percent iron and 0.6 percent vanadium.
- A PEA is expected to be released by the end of 2019.
- Additional metallurgical testing and environmental baseline studies are currently under development.
- Vanadium One Iron’s management team and board of directors have experience in iron ore and vanadium deposit exploration, development and production.
- Management and directors notably hold over 18 percent of shares.
The 1,919-hectare Mont Sorcier iron ore-vanadium project is 18 kilometers east of Chibougamau, Quebec within the Abitibi region. The property resides 10 kilometers away from Highway 167, is accessible year-round via a network of gravel logging roads and has access to low-cost hydropower and a skilled mining workforce. Mont Sorcier is approximately 25 kilometers from the CN Rail terminal located north of Chibougamau, providing Vanadium One Iron access to deep water ports and the international iron ore and vanadium markets.
2019 resource estimate
After completing its 2017 and 2018 drill program at the North and South zones, Vanadium One Iron released a resource estimate that significantly increased the indicated and inferred resources when compared to Campbell Resources’ 1974 mineral reserve estimate1.
Metallurgical work performed by Campbell Resources1 in the 1960s and 1970s demonstrated high-grade iron ore product (>65% Fe) is available at Mont Sorcier. Work is currently underway by Vanadium One Iron to confirm these results, compliant with NI 43-101 regulations.
1 Reserve estimates and metallurgy by Campbell Resources are historic and are not considered current by Vanadium One Iron as insufficient work has been completed at this time to satisfy the requirements of NI 43-101. These Results should not be relied on.
Between 2017 and 2018, Vanadium One Iron has completed three drill programs on the North and South zones. Drilling has consistently intersected wide zones of mineralization. The best results at the South zone include 243 meters grading 65.2 percent iron and 0.5 percent vanadium and 209.3 meters grading 62.9 percent iron and 0.59 percent vanadium. The North zone results include 282 meters grading 55.1 percent iron and 0.43 percent vanadium in addition to 244 meters grading 60.5 percent iron and 0.63 percent vanadium. To date, Vanadium One Iron’s results have been predictable and coincide with the historical data that has been compiled by Campbell Resources.
With a new resource in hand, Vanadium One Iron intends to shift its focus towards conducting additional metallurgical testing and completing its environmental baseline studies for the project. The company also expects to complete a PEA for Mont Sorcier Q4 2019.
The PEA is expected to outline an open pit mining operation for both the South and North zone deposits that will feature conventional on-site crush, grind and magnetic separation plants. Vanadium One Iron anticipates that the property will be able to support a production capacity of approximately 5 million tonnes grading 65 percent iron and 0.61 percent vanadium over a mine life of about 25 years. Vanadium One Iron plans to truck the iron ore to the CN Rail system, which has access to deep water ports and international markets, before being sent for further refinement in blast furnaces across the globe.
Mark Brennan — Chairman
Mark Brennan is currently a founding partner and Executive Chairman of Ascendant Resources Inc. and has over 30 years of financing and operating experience in the Americas and Europe. He most recently served as President and CEO of Sierra Metals Inc., where he overhauled the corporate foundation and led a campaign to restructure the Yaricocha mine, a significant zinc-lead-silver-copper mine in Peru; he also oversaw the growth of the resource base and production at its Cusi and Bolivar mines in Mexico.
Prior to that, Brennan served as President and CEO at Largo Resources Ltd., where he facilitated the acquisition of its flagship Maracas vanadium project in 2006 and advanced the project through a maiden resource, definitive feasibility, completion of a $300 million financing, construction and first production. Prior to Largo Resources Ltd., he was a founder or founding member of several resource companies, including Desert Sun Mining, Brasoil Corporation, James Bay Resources, Morumbi Oil and Gas and Admiral Bay Resources. He began his professional career as an investment banker in London, England.
Martin Walter — CEO and Director
Martin Walter is the former CEO of Treasury Metals Inc., an Ontario junior gold mine developer. He has over 20 years of international experience in mineral and mine development and has worked on numerous mining projects worldwide as a consulting geologist. He earned his MBA at the University of Toronto and a Bachelor of Science in Geology from the University of Ballarat in Australia.
John Priestner — President, COO and Director
Mr. Priestner is the former General Manager of US operations for Philip Environmental, where he was responsible for development and construction project management of large waste-management facilities. He is a former professional football player in the NFL and CFL over eight seasons and served on boards for CFL Pension Advisory and Benefits Committee. He holds a BSc from McMaster University.
Jacques Arsenault — CFO
Jacques Arsenault is a well-seasoned veteran as a CFO and has been involved in the financial services industry for over 20 years. He is President and Chief Executive Officer of Arsenault Business Staging Group Inc. and has served as the CFO of Caldera Resources Inc. since 2008, Auxico Resources Canada Inc. since 2017 and Manganese X Energy Corp. since 2010. He has also been the CFO and Treasurer at Kurrant Mobile Catering Inc. since July 2010. He was Vice President of Finance at Forest Gate Energy Inc. from January 22, 2007 to June 30, 2008 and its CFO from 2007 to June 30, 2008. His positions include Financial Controller for notable corporations including Videotron Ltd., Culinar Inc., Uni-Select Inc. and AES Data. Arsenault earned his MBA from the University of Sherbrooke in 1991, an Accounting Bachelor from the University of Quebec in 1986 and a Certificate in Administration from the University of Quebec in 1980.
Pierre-Jean Lafleur — VP Exploration and Director
Pierre-Jean Lafleur is a professional engineer and qualified person (NI 43-101) specializing in mineral resource estimation, exploration and mining. He has worked for various mining companies in Canada for over 15 years, including Falconbridge (now Glencore) until 1994. He is the owner of P.J. Lafleur Geo-Conseil Inc. (PJLGCI) since 2006 and has been a full-time independent consultant since 1994. Lafleur specializes in property evaluation, mineral resource estimation and various aspects of exploration and mining project management, including detailed financial and economic analysis. His latest achievement is a method called mineral resources optimization (MRO) designed for strategic mine planning (SMP) using powerful computer models that are designed to maximize the NPV. Lafleur graduated from Ecole Polytechnique in 1976.
Ashley Martin – VP Technical Services
Ashley Martin is a Civil Engineer with over 14 years of mining construction and development experience, including the development of Guyana Goldfields’ now-operating Aurora Gold Mine. He has worked on projects around the world with Knight Piesold, Treasury Metals, and Forrester Metals. Martin gained his Engineering and Construction degree from Curtin University.
Shimshon (Shimmy) Posen — Corporate Secretary
Shimshon Posen is a lawyer at Garfinkle Biderman LLP, where he focuses on corporate finance, M&A and securities law. He acts for public and private companies, securities dealers and financial institutions on a number of public and private financing and commercial transactions. He holds a J.D. from Osgoode Hall Law School and a B.A. in Political Science from York University.
Mitchell Kidd — Director
Mitchell Kidd is a US-born and based engineer, manager, business consultant and Lean Six Sigma practitioner. Over the past three decades, he has worked in a wide variety of professional capacities, for both privately-held and public companies. He earned his master’s degree in Metallurgical Engineering from Purdue University in 1985 and earned his Lean Six Sigma Master Black Belt from Villanova University in 2014. He has advanced leadership certificates from Ross Business School of the University of Michigan.
Kidd has successfully managed businesses in vanadium, titanium and iron foundry industries and was featured on the cover of Foundry magazine for his novel mercury emission control technology innovation, which was the first of its kind in North America. He has served on the Boards of two industry producer and trade organizations and is well versed in international business processes. He has invigorated failing organizations by implementing lean methodologies and dramatically improving throughput and profitability. He has also served on and led teams implementing large capital projects and programs, including scope to successful implementation and execution. He currently serves as President of his own consulting company.
Dennis Moore — Director
Dennis Moore is an exploration Geologist with 40 years of international experience. He is the President, CEO and founder of Fremont Gold Ltd, a publicly-listed exploration and mining company with a portfolio of significant gold properties in Nevada, including the Gold Bar and Gold Canyon mines.
He was previously and Executive Director and former VP Exploration of Magellan Minerals Ltd. While at Magellan he was responsible for assembling a 200,000-hectare exploration portfolio in Brazil, which included Cuiú Cuiú, Magellan’s flagship property; leading the team responsible for the discovery of the Cuiú Cuiú and Tocantinzinho gold deposits; negotiating various contracts with local prospectors and tenement holders including an important stakeholders agreement with local miners and landowners at Cuiú Cuiú; and, building a 30 person technical team in Brazil. Moore holds a BSc. in Geology from the University of Oregon and a Master’s degree in Engineering from the University of Sydney.
Casper Groenewald — Director
Casper Groenewald is currently the CEO for Lazenby holdings and SVP for DRA America. He has over 20 years of mineral processing experience in the Americas and Africa. He most recently served as Technical Director for Largo Resources, where he was responsible for the commissioning and process optimization of the vanadium process facility in Brazil. He also served as Operations Director at Minopex, where he managed the diamond division responsible for the operation and maintenance of five diamond plants. Prior to Minopex, he worked at Vantech (Xstrata Vanadium Division) and Highveld Steel and Vanadium Corporation. Groenewald is a metallurgist and has successfully commissioned, and process optimized, several mineral processing facilities in Africa, Brazil and Canada.
Disclaimer: This profile is sponsored by Vanadium One Iron Corp. (TSXV:VONE,FWB:9VR1). This profile provides information which was sourced by the Investing News Network (INN) and approved by Vanadium One Iron Corp., in order to help investors learn more about the company. Vanadium One Iron Corp. is a client of INN. The company’s campaign fees pay for INN to create and update this profile.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Vanadium One Iron Corp. and seek advice from a qualified investment advisor.