Voyager Metals Inc. (TSXV: VONE) has announced the results of a new Preliminary Economic Assessment at its 100% owned Mont Sorcier iron and vanadium project located near Chibougamau, Quebec.
The PEA outlines a robust economic assessment of an after tax NPV of US1.6B and IRR of 43% for Voyager’s Mont Sorcier project. These results are based upon a traditional open pit mining scenario with magnetic separation processing and a reverse flotation circuit to produce approximately 5.0Mt per annum of low sulphur, vanadium rich iron concentrates, with low levels of impurities. Based on test work to date, this material is amenable for blast furnace use in either China or Europe. The findings also estimate an annual average EBITDA of US$348M and average annual free cash flow of US$235M over 21 year life of mine.
The general project development plan outlined in the PEA is in line with the potential development scenario being contemplated by the Voyager management team, as it advances towards completion of a Feasibility Study, which the company expects to be complete in Q1 2023.
Cliff Hale-Sanders, President and CEO of Voyager commented “We are very pleased that the results of this PEA more than support our continued efforts to improve the economics and progress with development plans for the Mont Sorcier project, we see the potential of the project to be a profitable, long-life mine. Located in an established mining region, Mont Sorcier has excellent access to existing infrastructure already in place, which reduces upfront capital requirements and shortens the development schedule. The production of premium 65% high grade magnetite iron concentrate with valuable vanadium credits in conjunction with the advantageous infrastructure; positions Mont Sorcier as one of the premier iron development projects in the world.’
The PEA for Voyager’s Mont Sorcier project has been conducted based upon a Mineral Resource Estimate completed by InnovExplo and filed by Voyager on July 22, 2022, using only the Measured and Indicated Resource in the North Zone outlined in the Company’s most recently released NI 43-101 Technical Report dated July 22, 2022, and available on SEDAR. The PEA is preliminary in nature and there is no certainty that the preliminary economic assessment will be realized.
For the full PEA report please visit News Releases | Voyager Metals Inc.
