NI 43-101 Compliant Resources – Iron and Vanadium
The Clear Hills Project encompasses approximately 190,00 hectares of metallic and industrial mineral permits and leases and features a near-surface, flat-lying poly-metallic oolitic ironstone extending along the eastern flanks of the Clear Hills in NW Alberta. Ironstone Resources has diamond drilled and analyzed 230 diamond drill cores on its Clear Hills permits elevating the resource into NI 43-101 compliance.
In July 2012 a NI 43-101 technical resource report was released by SRK Consulting (Canada) Inc. incorporating drilling data from Ironstone’s 2008 and 2011 drilling programs. Ironstone currently reports 557 million tonnes of ore, with an indicated resource of 182 million tonnes of contained iron, and 2.45 billion pounds of contained vanadium pentoxide.
As noted in the NI 43-101 report, the deposit is open to the east, west, and south, and is associated with appreciable amounts of vanadium pentoxide.
Key Features of the Clear Hills Project
- a large NI 43-101 compliant indicated iron and vanadium mineral resource
- located in NW Alberta – one of the world's top mining jurisdictions
- local access to carbon (coal and natural gas) for iron reduction and beneficiation process
- well developed local infrastructure including nearby communities, paved highways, airports, high capacity rail, and a skilled labour force
- a potential for more than 100 years of mine life at full production using low-cost environmentally sustainable open-pit electric mining
- supports the annual production of 1.0 million tonnes of high-margin, high-value steel products including HSLA (high-strength, low-alloy) speciality steels
- low-cost vanadium pentoxide to be refined into high-value electrolyte for grid-scale renewable energy storage batteries
- captured process energy (heat) to be converted to electricity, with excess sold into deregulated provincial electricity grid
- expandable clay overburden (not measured) to be manufactured into light-weight clay aggregates for construction and road building materials
- relatively shallow Devonian-age formation brines are noted to have elevated concentrations of lithium and related performance elements on the southern Clear Hills permits
Bulk Sample Pit
Ironstone excavated a 45,000 tonne per year bulk sample pit on the Clear Hills "Rambling Creek Block". Approximately 11,000 tonnes of ore was extracted and stockpiled near Hines Creek, Alberta for ongoing process development at several North American pilot facilities.