Noront Resources has filed an updated technical report for its Black Thor, Black Label and Big Daddy chromite deposits located in the Ring of Fire.
The company filed an NI 43-101 resource report for the properties, which were acquired for $27.5 million from Cliffs Natural Resources in April, on August 21.
Black Thor and Black Label are 100 per cent owned by Noront, while Big Daddy is a joint venture between Noront (70 per cent) and Canada Chrome Mining Corporation (30 per cent), a subsidiary of KWG Resources.
According to the report, Black Thor has 107.6 million tonnes in the measured category, grading at 32.2 per cent chromium; an additional 30.2 million tonnes in the indicated category, grading at 28.9 per cent chromium; as well as 26.8 million tonnes in the inferred category, grading at 29.3 per cent chromium.
Black Label has 5.4 million tonnes in the indicated category, grading at 25.3 per cent chromium and 0.9 million tonnes, grading at 22.8 per cent chromium.
Big Daddy has 23.3 million tonnes, grading 32.1 per cent chromium in the measured category; 5.8 million tonnes, grading at 30.1 per cent chromium; and 3.4 million tonnes in the inferred category, grading at 28.1 per cent.
In a news release, Al Coutts, Noront’s president and CEO, called the mineral resource totals “impressive.”
“As I’ve said before, Noront has acquired a world-class series of chromite deposits both in size and quality,” he said. “Our current focus is on the permitting and development of our Eagle’s Nest mine, because we see that as a proving ground for successful large-scale development in the Ring of Fire.
“Alongside that, we are actively advancing our chromite strategy with a view to completing a preliminary economic assessment outlining our preferred approach for moving development forward there as well,” Coutts added.
The Ring of Fire is located in Ontario’s James Bay lowlands and contains a chromite deposit estimated to be one of the biggest mineral reserves in Ontario.