Available project (R)
The Touladi Lake property is the host of two principal zones, “A” and “B”. The north-trending “A” zone is reported to measure 2400 feet in length and 600 feet in width and is located at the southern end of the anorthosite mass. The northeast-trending “B” zone, located in the central part of the property measures 1800 feet in length and 500 feet in width.
The A zone has had three holes drilled in it which along with surface mapping and magnetic surveys, indicates a length of a mineralized body of 2,400 feet (730 meters), an average width of 600 feet (185 meters) and a depth cutoff of 500 feet. Using an economic depth cutoff of 500 feet and allowing 8 cubic feet (0.227 cubic meters) per ton of iron ore, there is an indicated tonnage of 90,000,000 tons available for open pit mining in this zone, running at approximately 23.6% iron and 6.8% titanium oxide.
The B zone has also had three holes drilled in it, indicating an average width of 300 feet (92 meters) over a length of 1,800 feet (550 meters). Again, using the 500 feet depth cutoff, there is an indicated tonnage of 34,000,000 tons at approximately 22.6% iron and 6.2% titanium oxide.
Thus, altogether there is a possible 124,000,000 tons of iron ore in these two zones down to a minimum depth of 500 feet which an economical mining operation normally attains, grading 23.3% iron and 6.6% titanium oxide. Additional tonnages may be obtained from the (C), (D) and (E) zones when additional deep diamond drilling provides more complete grade information on them.
The open pit potential for iron ore was the main focus at the time of discovery and the economic potential for titanium was totally ignored. Thus, tonnage and grade for underground potential has never been calculated.
All six deep exploration holes drilled in the past have intersected titanium-iron ore mineralization with great uniformity down to a depth of 1000 feet and were in the mineralized zone at the bottom.