Pedro Resources

Overview

Mining is one of Newfoundland’s oldest and most prominent industries and even today, it is a significant contributor to the region’s economy. Newfoundland and Labrador are a vital hub for the mining and producing of over fifteen minerals, including commodities like iron ore, copper, cobalt, gold and nickel.

Vale (NYSE:VALE), one of the largest mining companies globally and a global leader in iron ore and nickel production, operates an open-pit mine and concentrator at Voisey’s Bay in Labrador. This established mine processes over 6,000 tonnes of nickel-cobalt-copper ore daily, providing reliable production capacity for the essential commodities required to produce batteries and electric vehicle components that make up the “Green Future.”

Only 4.5 kilometres southwest of Vale’s mine is Pedro Resources’ (CSE:VBN) Voisey Bay West project. Pedro Resources aims to supply the new green economy with critical minerals, and is specifically focused on nickel, copper and cobalt production in the mining-friendly jurisdiction of Newfoundland.

The Voisey’s Bay West project was first assembled using compilations from previously completed geological work and compared the compiled data with the Voisey’s Bay deposit. The individuals leading the project are a massive advantage as they are the same people who helped discover the original Vale deposits, giving Pedro Resources extensive knowledge of the geology in the area.

"Pedro Resources is very fortunate to be able to acquire a property of this magnitude, in such proximity to a major producer, and with the potential to provide metals that will be so critical for a global Green Future,” said Brian Stecyk, Chief Executive Officer and Director of Pedro Resources in an interview with INN.

Current geological data suggests that the claims owned by Pedro Resources could contain the rock types required for Voisey’s Bay-type deposits. Pedro staked a number of claims in two licences to cover possible upstream sources of the sediment. These two new mineral licences are contiguous to Pedro's VBW property and contain 178 and 106 claims, respectively, for a total of 284 claims covering 7,100 hectares. The 284 claims increase the size of Pedro's land package to 15 licences containing 1,005 claims with a total area of 25,125 hectares. Pedro plans an aerial VTEM geophysical survey over all licences in 2022.

Company Highlights

• Pedro Resources’ Voisey’s Bay West project is 4.5 kilometres southwest of Vale’s Voisey’s Bay mine, in a mining-friendly jurisdiction with developed infrastructure.
• The project is led by a team of highly experienced consultants and managers with deep knowledge of geology and mining exploration in the region.
• Latest geological data compilations revealed that the claims obtained by Pedro Resources could potentially have similar rock types to Vale’s Voisey’s Bay.
• Pedro Resources’ primary focus is searching for critical minerals to supply a new green economy, particularly the nickel, copper, and cobalt required for EV production.

• The company’s 1,005 claims include 15 licenses in good regulatory standing.