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Canadian-based Imperial is a new mineral exploration and development company focused on advancing its copper-zinc, gold and technology metals properties in Quebec.
Imperial Mining Group (TSXV:IPG), has announced that it has started up field exploration activities on the Crater Lake scandium project, northeastern Quebec.
Canadian-based Imperial is a new mineral exploration and development company focused on advancing its copper-zinc, gold and technology metals properties in Quebec.
As quoted from the press release:
Highlights:
- Work will evaluate two areas on the western part of the property where scandium (Sc) grades of between 400 and 1,600 g/t Sc (two to eight times higher than what is considered economic threshold), and where historical drilling of on one target returned 19 m grading 506 g/t Sc were identified.
- Previous drilling identified a third zone of scandium mineralization which returned up to 62.8 m grading 304 g/t Sc including 1.48 percent Total Rare Earths (TREO).
- Scandium is a rare, high-value technology metal that reportedly trades for between US$2,500 and US$3,700 per kg in the oxide form (USGS, 2017).
“We are very excited about the scandium potential of our Crater Lake project. The targets of primary interest host exceptional surface grab and diamond drillhole scandium grades that are two to eight times higher than the 200 g/t Sc generally considered to be economic,” said Peter Cashin, Imperial’s president & chief executive Officer. “Scandium demand for use in lightweight, high-strength aluminum alloys, particularly in the aerospace, automotive and defense sectors is expected to grow significantly once an assured supply source outside of Russia or China, has been developed to production. We believe that the Crater Lake project, even at this relatively early stage of development, represents one of the most attractive potential new sources of scandium in the world.”
Click here to read the full announcement