Temas Resources to acquire La Blache iron ore property in Cote-Nord, Quebec
Temas Resources, a Canadian mineral exploration company, has agreed to acquire a 100% interest in the La Blache iron ore property in Cote-Nord, Quebec from CloudBreak Discovery and Cronin Services through a certain share and cash consideration.
The La Blache property, which is part of the La Blache Anorthosite Complex, hosts the Farrell-Taylor magnetite-ilmenite deposit. The iron ore asset comprises 48 claims that span 2,653.25 hectares of ground about 100 kilometers north of the community of Baie-Comeau, along Quebec’s north shore region.
According to Temas Resources, the iron ore deposit begins at surface extending to 600 meters below surface, with an 1150 meters strike extent, oriented roughly ENE and with an average thickness of 50 meters and a minimum thickness of 15 meters.
SGS Canada published a resource estimate in 2012 of 101,700,000t @ 59.7% Fe2O3 (41.76% Fe), 18% TiO2 and 0.33 V2O5 (0.18% V) at a cut-off of 5.1% TiO2Eq.
Kyler Hardy – CEO of Temas Resources, commenting on the acquisition of the La Blache iron ore property said: “The La Blache Property brings the company a step closer to consolidating a land package that holds a number of identified mineralized lenses. The Temas team continues to build momentum and this acquisition represents the next step in the execution of our plan to build an advanced base and specialty metals portfolio.”