TSXV:CCE | FSE:D7H0 | OTC:CMRZF

The Ashram Rare Earth Element and Fluorspar Deposit

The Ashram Deposit: Rare Earth Elements / Fluorspar

Robust Preliminary Economic Assessment - Conventional Metallurgy - Significant Size - Secure Jurisdiction, good grade, monazite-bastnasite-xenotime rare earth mineralogy.

Current MINERAL Resource Calculation:

The mineral resource has an Effective Date of March 6th, 2012 and a cut-off grade 1.25% REO. The CaF2 grade (i.e. fluorspar) is approximated from F (2.055 conversion factor) supported by mineralogy. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves. 

Due to its simple gangue and well-understood rare earth mineralogy, the Ashram Deposit is able to produce high-grade mineral concentrates at high recovery (>40% REO at >75% recovery), in line with active global producers.

DEPOSIT REMAINS OPEN TO THE NORTH, SOUTH, AND AT DEPTH, WITH A MINERALIZED FOOTPRINT APPROXIMATLY 600 M ALONG STRIKE, OVER 350 M ACROSS, AND 600 M DEEP.

Positive PEA economics with benefits of potential fluorspar by-product not yet incorporated.

Federal government supported flowsheet work underway at NRCan.

Financial participation of Quebec Government:

PRE-FEASIBILITY STUDY IS UNDERWAY AND WELL ADVANCEd

PEA Highlights

The current Ashram Technical Report (effective date July 5, 2012, revised January 7, 2015) explains why no after-tax case is included. Results of the PEA represent forward-looking information. This economic assessment is by definition preliminary in nature and it includes inferred mineral resources that are considered too speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary economic assessment will be realized. Mineral resources are not mineral reserves as they do not have demonstrated economic viability.

Mineral Resource Estimate

The PEA uses the updated mineral resource estimate for the Ashram Deposit (SGS Geostat, 2012), released March 6, 2012. This resource incorporates all drilling completed at the Ashram Deposit through 2011 (15,691.74 m over 45 holes). The mineral resource estimate is as follows:

Resource Category

Tonnage
(Mt)

La2O3
(ppm)

Ce2O3
(ppm)

Pr2O3
(ppm)

Nd2O3
(ppm)

Sm2O3
(ppm)

Eu2O3
(ppm)

Gd2O3
(ppm)

Tb2O3
(ppm)

Dy2O3
(ppm)

Ho2O3
(ppm)

Er2O3
(ppm)

Tm2O3
(ppm)

Yb2O3
(ppm)

Lu2O3
(ppm)

Y2O3
(ppm)

TREO*
(%)

MH/T
Ratio

F
(%)

CaF2*
(%)

 

Measured

1.6

4158

7865

859

3102

475

121

297

33

139

20

41

5

24

3

583

1.77

9.8%

3.76

7.7

 

Indicated

27.7

4960

8747

909

3131

403

94

229

23

93

13

28

3

16

2

378

1.90

6.7%

2.89

5.9

 

Inferred

219.8

4895

8775

911

3137

386

88

209

20

77

10

22

2

13

2

302

1.88

6.0%

2.21

4.5

 

*COG 1.25% TREO (BASE CASE); CaF2 approximated from F (2.055 conversion factor) based on mineralogy

Mineral resources are not mineral reserves as they do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves.

REE Distribution

The Ashram Deposit hosts a well-balanced rare earth distribution anchored in the magnet feed rare earths (Nd, Pr, Tb, and Dy) with the strongest market fundamentals over the near, mid, and long-term. In addition, within the overall resource, there exists a zone of more intense Middle and Heavy Rare Earth Oxide (MHREO) enrichment, termed the ‘MHREO Zone’. This mineralized zone contains an REE distribution of 24% combined NdPr (19% Nd, 5% Pr) with significant Dy (0.9%) and Tb (0.2%). This type of magnet feed and MHREO enrichment is unique to Ashram and extends from surface with significant tonnage and grade. The current resource for the Ashram MHREO zone is 1.1 Mt at 1.69% TREO of measured, 5.4 Mt at 1.62% TREO of indicated, and 2.8 Mt at 1.57% TREO of inferred at a cut-off grade of 1.25%. Mineral resources are not mineral reserves as they do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves.

Key Findings of the PEA

* The current Ashram Technical Report (effective date July 5, 2012, revised January 7, 2015) explains why no after-tax case is included. Results of the PEA represent forward-looking information. This economic assessment is by definition preliminary in nature and it includes inferred mineral resources that are considered too speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary economic assessment will be realized. Mineral resources are not mineral reserves as they do not have demonstrated economic viability.

NI 43-101 Disclosure

Results of the PEA represent forward-looking information. This economic assessment is by definition preliminary in nature and it includes inferred mineral resources that are considered too speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary economic assessment will be realized. Mineral resources are not mineral reserves as they do not have demonstrated economic viability.

Darren L. Smith, M.Sc., P.Geol., Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101, has prepared, read and approved all scientific and technical information that relates to the Ashram Rare Earth Element Project on this website.

Sign Up For The Latest News & Updates!