Mont Sorcier Iron Vanadium Project Shows Strong Progress
Exciting Developments at the Mont Sorcier Iron Vanadium Project
Chibougamau Independent Mines Inc. (CBG-TSXV) and Globex Mining Enterprises Inc. (GMX–TSX) have reported noteworthy progress regarding the Mont Sorcier iron vanadium deposit project. This venture, located near the scenic Chibougamau area, continues to demonstrate its potential in the industry.
Metallurgical Testing Underway for High-Purity Iron
The latest update from Cerrado Gold Inc. has revealed significant advancements in metallurgical test work and flow sheet design for the Mont Sorcier project. Recent tests have confirmed the ability to produce high-grade iron concentrates exceeding 67% iron content while maintaining low silica and alumina levels below 2.3%. This remarkable quality could position the Mont Sorcier project as a leading supplier of pure iron concentrates.
Process Improvements and Optimization
Ongoing test work focuses on enhancing various aspects of the iron processing method, including flotation testing and grind size optimization. Future tests will look into detailed variability assessments and reagent optimization programs. These improvements are critical to achieving the goals set out in the forthcoming Bankable Feasibility Study (BFS).
Bankable Feasibility Study Expected
The BFS is anticipated to break new ground by providing detailed insights into the project’s viability. Targeted for completion by the end of the first quarter of 2026, the study will illuminate the potential economic benefits of the Mont Sorcier project's significant NPV8% of US$1.6 billion determined during the 2022 Preliminary Economic Assessment (PEA). This extensive analysis will guide further development decisions.
Key Leadership Involvement
Jack Stoch, who serves as president of both Chibougamau Independent Mines Inc. and Globex Mining Enterprises Inc., ensures that all principal consultants are actively contributing to the BFS process. His leadership highlights the commitment to advancing the Mont Sorcier project effectively.
Investor and Stakeholder Engagement
As the project progresses, both companies remain dedicated to keeping investors and stakeholders informed. The ongoing engagement involves sharing updates on testing results, project timelines, and expected financial returns, reinforcing investor confidence in the project's development.
Contact Information for Inquiries
For any further inquiries regarding the Mont Sorcier project or related matters, interested parties can reach out to:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
Chibougamau Independent Mines Inc.
86, 14th Street
Rouyn-Noranda, Quebec Canada J9X 2J1
Tel.: 819.797.5242
Fax: 819.797.1470
Email: info@globexmining.com
Website: www.globexmining.com
Frequently Asked Questions
What is the Mont Sorcier project?
The Mont Sorcier project is an iron vanadium deposit located near Chibougamau, led by Chibougamau Independent Mines Inc. and Globex Mining Enterprises Inc.
What are the main goals of the metallurgical testing?
The primary goal is to produce high-purity iron concentrates and optimize the process for better efficiency and yield.
When is the Bankable Feasibility Study expected to be completed?
The BFS is targeted for completion by the end of Q1 2026, providing a detailed analysis of the project's economic potential.
How does the project benefit investors?
Investors can benefit from the project's expected high NPV8% of US$1.6 billion and the growing demand for high-quality iron concentrate.
Who can I contact for more information on the Mont Sorcier project?
For inquiries, you can contact Jack Stoch, President & CEO of Globex and Chibougamau Independent Mines, via email or phone as mentioned above.
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