CoTec Holdings (TSXV:CTH,OTCQB:CTHCF) (“CoTec” or the “Firm”) is happy to announce that latest metallurgical take a look at work for the Lac Jeannine Mine Tailings Reclamation and Restoration Undertaking (the “Undertaking”) has confirmed the flexibility of the Undertaking to supply a high-purity iron focus grading in extra of 67% FeT and low in impurities. The 67% FeT focus represents an essential technical milestone that helps the Undertaking’s positioning as a high-purity iron undertaking aligned with Québec’s essential and strategic minerals framework and Canada’s Vital Minerals Record, topic to completion of the continued Feasibility Research for the Undertaking.
To be thought-about within the checklist of Québec’s essential and strategic minerals as high-purity iron, iron focus should comprise at the least 67% iron and be low in impurities.i Equally, Canada’s Vital Minerals Record was up to date in 2024 to incorporate high-purity iron in its checklist of essential minerals.ii
Julian Treger, CEO of CoTec, commented: “The 67% FeT concientrate is one other main milestone for the Undertaking. It validates the standard of the useful resource, the effectiveness of our processing technique and our imaginative and prescient of remodeling a historic environmental legal responsibility right into a strategic asset able to supporting the worldwide transition to lower-carbon metal manufacturing.”
The 2026 Mineral Useful resource Estimate and Preliminary Financial Evaluation (the “Undertaking PEA“)iii demonstrated the undertaking’s financial potential and confirmed its skill to supply a high-purity iron focus grading roughly 66.8% Feiv. Subsequent engineering and metallurgical optimisation applications by way of BBA have now validated pathways to producing a 67% FeT focus, low in silica and alumina and different deleterious components.
Current metallurgical take a look at work carried out at Corem utilizing bulk pattern materials (collected in 2023v) confirmed the manufacturing of excessive purity iron focus, in extra of 67% FeT. This take a look at work is a part of the continued Feasibility Research which stays topic to completion and disclosure in accordance with Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks (“NI 43-101”). Attaining this grade of focus is a essential milestone that considerably enhances the undertaking’s strategic significance. As world metal producers proceed to hunt higher-grade feedstocks able to lowering carbon emissions and enhancing blast furnace and DRI efficiencies, the confirmed focus high quality helps the Undertaking’s potential to align with the technical necessities supporting the trade’s transition to lower-carbon metal manufacturing strategies.
With feasibility work persevering with, environmental baseline research underway and engagement progressing with Indigenous communities and authorities stakeholders, the Undertaking is steadily advancing towards its subsequent growth section. The Undertaking PEA signifies an after-tax web current worth of US$91.9 million and an inner fee of return of 29.6% over a projected 15-year mine life, with extra upside from additional useful resource growth and course of optimisation.
The Lac Jeannine Mine Tailings Reclamation and Restoration Undertaking
The Lac Jeannine property includes a contiguous block of thirty-one (31) mineral claims overlaying an mixture of 1,649.34 hectares (ha) within the Caniapiscau regional county municipality (RCM) of the Côte-Nord Area of jap Québec, roughly eight kilometres (km) southeast of the deserted town-site of Gagnon and 290 km north of the Metropolis of Baie-Comeau. The property is situated on the normal territory of the Innu of Pessamit.
The Undertaking encompasses the previous Lac Jeannine open pit mine, from which roughly 260 million lengthy tons of ore at 33% iron, in primarily specular hematite kind, was extracted between 1961 to 1976. The Property additionally covers the “Tailings Storage Facility” (TSF), the realm the place the tailings from the on-site ore concentrator had been deposited however not reclaimed. In 1984, the Lac Jeannine mining and processing services had been shut down.
The Lac Jeannine mine web site is recognized by Québec’s Ministry of Pure Assets and Forests (MRNF) as the biggest deserted mining web site beneath authorities accountability. CoTec’s focus is on the tailing’s materials, deliberate to be re-processed for residual iron, and rehabilitate the TSF to as near its pure state as doable.
This press launch relies on metallurgical investigations and undertaking assessment actions carried out by BBA Inc. in assist of the Undertaking as disclosed by CoTec and must be learn together with the Undertaking PEA.
The disclosure of the scientific and technical data contained on this press launch has been reviewed and authorised by Catherine Pelletier, P.Eng., a Certified Individual as outlined by NI 43-101. Catherine Pelletier is a member of the Ordre des ingénieurs du Québec, is impartial of the Firm and is accountable for the technical data disclosed herein.
About CoTec
CoTec is redefining the way forward for useful resource extraction and recycling. Targeted on uncommon earth magnets and strategic supplies, CoTec integrates breakthrough applied sciences with strategic belongings to unlock safe, sustainable, and low-cost provide chains.
CoTec’s mission is obvious: speed up the power transition whereas strengthening strategic mineral provide chains for the international locations we function in. By investing in and deploying disruptive applied sciences, the Firm delivers capital-efficient, scalable options that rework marginal belongings, tailings, waste streams, and recycled merchandise into high-value essential minerals.
From its HyProMag USA magnet recycling three way partnership in Texas, to iron tailings reprocessing and reclamation in Québec, to next-generation copper and iron options backed by world majors, CoTec is constructing a diversified portfolio with long-term progress, speedy money stream potential, and excessive limitations to entry. The result’s a differentiated platform on the intersection of know-how, sustainability, and strategic supplies.
For additional data, please contact:
Braam Jonker – (604) 992-5600
Ahead-Wanting Data Cautionary Assertion
Statements on this press launch concerning the Firm and its investments which aren’t historic info are “forward-looking statements”, which contain dangers and uncertainties, together with statements regarding the Undertaking, its mid-project replace, future growth, Undertaking web current worth, anticipated return on funding, lifetime of mine, the continued Feasibility Research, the Undertaking possibility train, the Undertaking’s essential minerals standing potential, potential for manufacturing of higher-purity iron focus, the Firm’s participation within the trade’s transition to new manufacturing strategies and the Undertaking usually, in addition to administration’s expectations with respect to the Lac Jeannine funding and different present and potential future investments and the advantages to the Firm which can be implied from such statements. Since forward-looking statements deal with future occasions and circumstances that, by their very nature, contain inherent dangers and uncertainties. Precise ends in every case may differ materially from these presently anticipated in such statements on account of identified and unknown dangers and uncertainties affecting the Firm, together with, however not restricted to, useful resource and reserve dangers; environmental dangers and prices; allowing necessities and delays; labour prices and shortages; unsure provide and worth fluctuations in supplies; will increase in power prices; labour disputes and work stoppages; leasing prices and the supply of apparatus; heavy tools demand and availability; contractor and subcontractor efficiency points; worksite questions of safety; undertaking delays and price overruns; excessive climate circumstances; and Indigenous or social disruptions logistics and transportation availability or disruptions. For additional particulars concerning dangers and uncertainties going through the Firm, please seek advice from “Threat Elements” within the Firm’s submitting assertion dated April 6, 2022 and the Firm’s annual data kind dated July 20, 2022, copies of which can be discovered beneath the Firm’s SEDAR+ profile at www.sedarplus.ca. The Firm assumes no accountability to replace forward-looking statements on this press launch besides as required by legislation. Readers mustn’t place undue reliance on the forward-looking statements and knowledge contained on this press launch and are inspired to learn the Firm’s steady disclosure paperwork which can be found on SEDAR+ at www.sedarplus.ca.
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