- CoTec Holdings Corp. (CTHCF, Financial) has initiated its 2025 drilling program at the Lac Jeannine Property in Québec.
- The program involves 12-13 holes for a total of 680 meters, aiming to secure a 66.8% FeT concentrate from historic tailings.
- CoTec plans to incorporate MGS technology to enhance iron recovery from ultra-fines.
CoTec Holdings Corp. (CTHCF) has announced the commencement of its 2025 drilling program at the Lac Jeannine Property in Québec. This new phase includes appointing 403 Drilling for the expansion initiative, which will consist of 12 to 13 holes totaling approximately 680 meters of sonic core samples. The drilling campaign is strategically designed to include four infill holes and additional step-out drilling for adjacent tailings, not covered in the 2023 program.
The August 2024 technical report outlined encouraging project metrics: a pre-tax Net Present Value (NPV) at 7% of US$93.6 million, an Internal Rate of Return (IRR) of 38%, and an after-tax NPV7% of US$59.5 million. These figures are based on a mineral resource of 73 million tonnes at 6.7% total Fe, yielding 4.9 Mt of contained total Fe. The current extraction model projects a 66.8% FeT concentrate from roughly half the historic tailings volume.
CoTec is also set to integrate Multi-Gravity Separators Salter technology (MGS) into the recovery circuit. This could potentially enhance the recovery of iron from ultra-fine materials. The company has already secured approval from Québec authorities for its closure plan and is in discussions with stakeholders including the Government of Québec and First Nations for continued project support.
The company's leadership remains optimistic about the potential impact of this expansion. CoTec's CEO, Julian Treger, remarked on the strategic importance of incorporating MGS technology, which could bolster production capabilities and promote rehabilitation of former mine sites. This reflects CoTec's commitment to advancing the mining sector towards sustainable practices while providing economic benefits to local and Indigenous communities.
