CoTec Holdings Corp. Commences Process to Appoint a Drilling Contractor to Complete Infill and Expansion Drilling at the Lac Jeannine Property
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) has initiated the process to appoint a drilling contractor for expanding its mineral resource estimate at the Lac Jeannine Property in Québec. The company received approval from Québec's MNRF for its closure plan regarding the 2025 exploration drilling campaign.
The project's technical report from August 2024 indicated a pre-tax NPV of US$93.6 million with 38% IRR, and an after-tax NPV of US$59.5 million. The current resource estimate shows approximately 73 million tonnes at 6.7% total Fe for 4.9 Mt of contained total Fe. The planned drilling aims to improve confidence in existing estimates and expand the resource estimate across the entire facility.
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ha avviato il processo per nominare un contraente di perforazione al fine di ampliare la stima delle risorse minerarie nella proprietà Lac Jeannine in Québec. L'azienda ha ricevuto l'approvazione dal MNRF del Québec per il suo piano di chiusura in relazione alla campagna di perforazione esplorativa del 2025.
Il rapporto tecnico del progetto dell'agosto 2024 ha indicato un NPV pre-tasse di 93,6 milioni di dollari USA con un tasso di rendimento interno del 38%, e un NPV post-tasse di 59,5 milioni di dollari USA. L'attuale stima delle risorse mostra circa 73 milioni di tonnellate con un contenuto di 6,7% di Fe totale per 4,9 Mt di Fe totale contenuto. La perforazione pianificata mira a migliorare la fiducia nelle stime esistenti e ad ampliare la stima delle risorse in tutta la struttura.
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ha iniciado el proceso para nombrar un contratista de perforación con el fin de expandir su estimación de recursos minerales en la propiedad Lac Jeannine en Quebec. La empresa recibió la aprobación del MNRF de Quebec para su plan de cierre relacionado con la campaña de perforación exploratoria de 2025.
El informe técnico del proyecto de agosto de 2024 indicó un VPN antes de impuestos de 93,6 millones de dólares estadounidenses con un TIR del 38%, y un VPN después de impuestos de 59,5 millones de dólares estadounidenses. La estimación actual de recursos muestra aproximadamente 73 millones de toneladas con un 6,7% de Fe total para 4,9 Mt de Fe total contenido. La perforación planificada tiene como objetivo mejorar la confianza en las estimaciones existentes y expandir la estimación de recursos en toda la instalación.
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF)는 퀘벡에 있는 Lac Jeannine Property에서 광물 자원 추정치를 확장하기 위한 시추 계약자를 임명하는 과정을 시작했습니다. 이 회사는 2025년 탐사 시추 캠페인에 관한 폐쇄 계획에 대해 퀘벡의 MNRF로부터 승인을 받았습니다.
2024년 8월의 프로젝트 기술 보고서는 세전 NPV가 9,360만 달러에 38%의 IRR을 기록하였으며, 세후 NPV가 5,950만 달러로 나타났습니다. 현재 자원 추정치는 총 6.7%의 철을 가진 약 7300만 톤을 보여주며, 4.9Mt의 포함된 총 철을 포함하고 있습니다. 계획된 시추는 기존 추정치에 대한 신뢰를 높이고 전체 시설에 걸쳐 자원 추정치를 확장하는 것을 목표로 하고 있습니다.
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) a lancé le processus de nomination d'un entrepreneur en forage pour élargir son estimation des ressources minérales sur la propriété Lac Jeannine au Québec. La société a reçu l'approbation du MNRF du Québec pour son plan de fermeture concernant la campagne de forage exploratoire de 2025.
Le rapport technique du projet d'août 2024 a indiqué un NPV avant impôts de 93,6 millions de dollars US avec un TRI de 38 %, et un NPV après impôts de 59,5 millions de dollars US. L'estimation actuelle des ressources montre environ 73 millions de tonnes avec 6,7 % de Fe total pour 4,9 Mt de Fe total contenu. Le forage prévu vise à améliorer la confiance dans les estimations existantes et à élargir l'estimation des ressources sur l'ensemble de l'installation.
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) hat den Prozess zur Ernennung eines Bohrunternehmens zur Erweiterung seiner Schätzung der Mineralressourcen auf dem Lac Jeannine Property in Québec eingeleitet. Das Unternehmen erhielt die Genehmigung des MNRF von Québec für seinen Schließungsplan im Zusammenhang mit der Erkundungsbohrkampagne 2025.
Der technische Bericht des Projekts aus August 2024 wies einen NPV vor Steuern von 93,6 Millionen US-Dollar mit 38% IRR und einen NPV nach Steuern von 59,5 Millionen US-Dollar aus. Die aktuelle Ressourcenschätzung zeigt etwa 73 Millionen Tonnen mit 6,7% Gesamtfe für 4,9 Mt enthaltenes Gesamtfe. Das geplante Bohren zielt darauf ab, das Vertrauen in bestehende Schätzungen zu verbessern und die Ressourcenschätzung über die gesamte Anlage hinweg zu erweitern.
- Pre-tax NPV of US$93.6 million with 38% IRR
- After-tax NPV of US$59.5 million
- Received government approval for closure plan
- Resource estimate of 73 million tonnes at 6.7% total Fe
- None.
VANCOUVER, BC / ACCESSWIRE / December 12, 2024 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to announce it has commenced a process to appoint a drilling contractor to support the expansion of the previously announced PEA mineral resource estimate (the "MRE") at the Lac Jeannine Property in Québec (the "Project").
It is further pleased to announce it recently received the approval of the Québec Ministère des Ressources naturelles et des Forêts (the "MNRF") for its closure plan in connection with the Company's targeted 2025 exploration drilling campaign.
To support the drilling campaign the Company is continuing its discussions with various stakeholders, including the Government of Québec, First Nations and other interested parties, to secure support for the exploration, construction and operation of the Project.
In August 2024 CoTec filed an independent National Instrument 43-101 technical report in relation to the Project indicating a pre-tax NPV of US
Julian Treger, CoTec CEO commented; "We are very pleased with the support received by the Government of Québec as we continue to progress the Project.
The Lac Jeannine Project offers great potential for the resource industry to recover the economic benefit of large Fe tailing sites at competitive cost structures which can deliver high purity, low carbon, iron concentrates for the green steel industry.
We believe the project is very promising and can demonstrate how historic mine sites can be rehabilitated in accordance with best practices while creating jobs and economic opportunities for local and Indigenous communities."
Qualified Person
The Independent Qualified Person as defined by NI 43-101 for the Lac Jeannine Mineral Resource, Mr. Christian Beaulieu, P.Geo., is a member of l'Ordre des géologues du Québec (#1072). The Qualified Person has reviewed and approved the scientific and technical content of this news release relating to the Lac Jeannine Mineral Resource.
About CoTec
CoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange ("TSX- V") and the OTCQB and trades under the symbol CTH and CTHCF respectively. The Company is an environment, social, and governance ("ESG")-focused company investing in innovative technologies that have the potential to fundamentally change the way metals and minerals can be extracted and processed for the purpose of applying those technologies to undervalued operating assets and recycling opportunities, as the Company transitions into a mid-tier mineral resource producer.
CoTec is committed to supporting the transition to a lower carbon future for the extraction industry, a sector on the cusp of a green revolution as it embraces technology and innovation. The Company has made four investments to date and is actively pursuing operating opportunities where current technology investments could be deployed.
For further information, please contact:
Braam Jonker - (604) 992-5600
Forward-Looking Information Cautionary Statement
Statements in this news release regarding the Company and its investments which are not historical facts are "forward-looking statements" which involve risks and uncertainties, including statements relating to the PEA and results thereof, transition to a lower carbon future and the Company's participation therein and contribution thereto, as well as management's expectations with respect to the Lac Jeannine investment and other current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements due to known and unknown risks and uncertainties affecting the Company, including, but not limited to: resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social and transport disruptions. For further details regarding risks and uncertainties facing the Company, please refer to "Risk Factors" in the Company's filing statement dated April 6, 2022, a copy of which may be found under the Company's SEDAR+ profile at www.sedarplus.com. The Company assumes no responsibility to update forward-looking statements in this news release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release and are encouraged to read the Company's continuous disclosure documents which are available on SEDAR+ at www.sedarplus.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release
SOURCE: CoTec Holdings Corp.
View the original press release on accesswire.com
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