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.
Voisey’s Bay West Site
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.
Voisey Bay West Property Airborne Magnetics
- 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.
Voisey’s Bay West
Voisey Bay Location Map
Voisey’s Bay West project is a 25,125-hectare property located in Northern Labrador, Canada, just 4.5 kilometers southwest of Vale’s Voisey’s Bay mine property, one of the largest nickel mines in Canada. Pedro Resources’ claims are 60 km from the Naim airstrip and 15 km from tidewater. Additionally, they may contain the same geophysical characteristics found at Voisey’s Bay. Since 2005, Vale’s Voisey's Bay Mine has produced concentrates above 600 kt of nickel, 400 kt of copper, and 12 kt of cobalt from the sulfide ore.
Former senior-level Vale employees and consultants assembled the land package by leveraging decades of experience in the Voisey’s Bay district. Many of these individuals currently serve as consultants to Pedro Resources.
Various companies intermittently explored portions of the Voisey’s Bay West property from 1995 to 1998 following the Voisey’s Bay nickel-copper-cobalt deposit discovery. Experts completed a comprehensive review of the existing geological, geophysical and geochemical data, identifying robust exploration targets that have the potential to yield significant nickel, cobalt and copper mineralization. These deposits were historically under-explored by Vale and other junior exploration companies in the area.
There are two proposed work programs. Phase one includes compilation and interpretation, local engagement, analysis of stream sediment samples and generating prospecting targets — while phase two covers geophysics, prospecting, geological and geochemical survey and diamond drilling.
Brian Stecyk - CEO & Director
Mr. Stecyk has extensive communications and public relations experience. He was a successful advertising and public relations firm for over 36 years and has served as a CEO, president, and director of several companies. His strengths include strategic management and planning. He was a member of the Canadian Association of Professional Speakers for several years.
Fiona Fitzmaurice - CPA, ACCA, BA - CFO
Ms. Fitzmaurice has over 15 years of financial experience with private and public companies. She has been responsible for all aspects of finance, treasury and tax functions with a current emphasis on the mining and resource exploration sector.
Rejean Gosselin P. Geo - Director
Rejean Gosselin graduated from Laval University in 1979 with an M.Sc. in Geology. He has worked as a consulting geologist on uranium, gold and base metals mining exploration projects in Canada, the United States, and South America since 1979. For the past 35 years, Rejean has acted as founder and promoter of numerous junior mining companies exploring different commodities in Canada, West Africa, and Mexico. Rejean is responsible for gold, NiCuPGE and ZnCu discoveries in Canada and Mexico. Recent involvements include Dia Bras Exploration as President and CEO from 2003 to 2008 and most recently as chairman of the board of Maya Gold and Silver.
Conan Taylor, LLB - Director
Conan is a lawyer and admitted member of the Alberta Law Society, now practicing at his firm, Taylor Janis LLP. Conan’s practice focuses on corporate-commercial litigation, although his firm generally specializes in workplace law. He has a BA (honors) in Philosophy with First Class Honours from the University of Alberta and an LLB/JD from Queens University in Kingston, Ontario.
Wes Thompson - Director
Mr. Thompson is a diploma graduate of Sheridan College, and an experienced investor and advisor to junior resource companies in investor relations, marketing, corporate development, and capital raises.
Stuart Adair - Director
Mr. Stuart Adair, CPA, CA, is a seasoned finance executive who has been investing in the junior mining sector for over 25 years. Mr. Adair is currently a director of MacDonald Mines Exploration Ltd. (TSXV: BMK) and Chair of its Audit Committee. Stuart is also CFO of Accord Financial Corp. (TSX: ACD), a TSX-listed commercial finance company, a position he has held since 2002. At Accord Financial, Stuart is involved in capital and risk management, strategic planning, acquisitions, corporate taxes, as well as financial management and reporting. Stuart holds a B.A. from Sheffield University, U.K., and an M.A. in Economics from Queens University, Canada.
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