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Quest Rare Minerals Ltd.
Summary
| Project: | Strange Lake | |
|---|---|---|
| Deposit: | Strange Lake | |
| Location: | Canada | |
| Commodities: | Rare Earth | |
| Date: | 3/10/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing PEA | |
| Report details: | 10-3-2017: Quest Rare Minerals Ltd. announces a Resource Estimation report for its Strange Lake deposit at the Strange Lake project. Updated Mineral Resource Estimate for Strange Lake. Micon International Limited (Micon) has been retained by Quest Rare Mi | |
| Resources: | (Resource): 278Mt @ 0.93% TRE (Ind.) and 214Mt @ 0.85% TRE (Inf.) at project | |
| CP/QP: | [Resources]: William J. Lewis (Micon International Ltd.) | |
| ABSTRACT: | Micon International Limited (Micon) has been retained by Quest Rare Minerals Ltd. (Quest) to compile a Technical Report under Canadian National Instrument 43-101 (NI 43-101) which discloses the results of a desktop review and update to the mineral resource estimate on Quest’s Strange Lake Project (the Project), based upon a change in commodity prices since 2012 and the changes to the CIM definitions in 2014. he Project is generally based on the mining and beneficiation of a rare earth element (REE)- rich deposit at Strange Lake in northern Québec, and processing a flotation concentrate at a facility at Bécancour in southern Québec. Processing will recover rare earths and yttrium as separated oxides. t is Micon’s recommendation that the work required to advance the project continues and that Quest complete the necessary work required to update its previous PEA study, based upon the significant changes to the project that have occurred since 2014. No additional resource definition drilling is recommended. The current indicated mineral resource is of sufficient quality to support the PEA and feasibility studies. The high nugget effect in the lenses and the shape and distribution between sections of both the pegmatite and granite lithologies do not allow for separate interpretation on the current 50 m centred drilling. It is Micon’s opinion that closer spaced drilling will not necessarily improve the confidence of the current mineral classification from an indicated to a measured category, without drilling on such closed spaced centres as to be cost prohibitive. Micon recommends that the current mineral resource estimate be reviewed prior to conducting a prefeasibility or feasibility study to confirm that any updated economic and other NSR cut-off parameters will not materially affect the estimate. | |
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