Projects

St. Charles de Bourget Deposit

Near Saguenay, Québec


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Magnetic Survey Map

Deposit Overview

This deposit contains high concentrations of magnetite (Fe3O4), ilmenite (FeTiO3) and apatite (Ca5(PO4)3(F,Cl,OH), plus significant quantities of rare earth oxides (primarily cerium (CeO2), neodymium (Nd2O3), gadolinium (Gd2O3) and yttrium (Y2O3)) and vanadium oxide (V2O5). A slideshow has been prepared containing facts about rare earths and the St. Charles property.

Location

This property is located in a farming area only 25 km from the city of Saguenay, Québec (population 151,000 in 2009), and paved road runs to the property boundary. Infrastructure such as electricity, road, rail and ship transportation are all close at hand. The region has numerous quarry operations nearby, and a pool of experienced contractors and skilled labour is available.

Size

Historical studies have indicated that the deposit contains at least 37 million tons of magnetite and ilmenite bearing rock. Additional drilling and studies are currently underway to bring the estimated resource size into conformity with NI 43-101 reporting standards.

Action Plan

Micrex has retained the services of geologist Réjean Girard to evaluate the deposit and produce a NI 43-101 compliant report. Several holes will be drilled this year to fill the gaps between historical drill holes, which were spaced too far apart to meet NI 43-101 standards. Also, two international conglomerates are performing their own assays on samples from various parts of the deposit.

Micrex intends to crush the rock from this deposit and separate the minerals so they can be sold to various markets. Magnetite is necessary for the production of purified coal to make steel, is used in water treatment facilities, to make radiation blocking walls in hospitals (for X-ray and MRI machines), and many other important purposes. Titanium dioxide is primarily used to produce white pigment for paints. Apatite is used to produce fertilizer. Vanadium is used in specialty steels, and rare earths are essential for many new and emerging technologies. Demand for each of these products is increasing, and companies all over the world are seeking secure, affordable sources of supply.

Permits

Micrex already holds a permit to produce up to 45,000 tonnes per year. The Québec government may increase the allowed production rate after Micrex has demonstrated that a market for the products exists. There are no outstanding requirements for environmental impact assessments.

Geology

The deposit at St. Charles de Bourget, Québec is classed as a magnetite and titanium rich magmatic segregation within an anorthosite host rock.

History

There is a local legend that French explorers visited the area in the 1600s and took some of the heavy rocks to use as ballast for their return journey to France. In the 1900s the property's mineral rights changed hands several times as various companies saw the deposit's potential, but then failed due to lack of funding. The studies and assays done over the years form a historical record that has given Micrex a good picture of the overall deposit. The Company is now in the process of filling in the gaps between historic sample and drill locations so that the resource can be quantified using current measurement standards.

Gallery

Click here to view photos from the St. Charles de Bourget deposit.

Studies / Assays

Apatite/Rare Earth Concentrate Test Program (1988)
Drill core assay results (2010)
NI 43-101 Report (2011)
Magnetic Survey Map (2011)
Drill Hole Location Map (2012)
Drill Holes 1 - 2 Cross Section (2012)
Drill Holes 3 - 6 Cross Section (2012)
Drill Holes 7 - 8 Cross Section (2012)
Drill Holes 9 - 10 Cross Section (2012)
Drill Holes 11 - 12 Cross Section (2012)
Drill Holes 13 - 14 Cross Section (2012)
Drill Holes 15 - 16 Cross Section (2012)
Drill Holes 17 - 19 Cross Section (2012)
Drill Holes 1 - 19 Assays (2012)