Update on the Mont Sorcier Iron and Vanadium Project, Canada
2026-07-28 11:43:07 [Print]
The Mont Sorcier iron and vanadium project, located near Chibougamau in Quebec, Canada, is currently advancing a bankable feasibility study (BFS) that envisions an eight-million-tonne-per-annum concentrate operation. This would be developed in two phased stages, each with a capacity of four million tonnes per year---a notable increase from the five-million-tonne-per-annum scenario assessed in the 2022 preliminary economic assessment (PEA).
The project benefits from a substantial mineral resource base, comprising 678.5 million tonnes of indicated resources and 546.6 million tonnes of inferred resources. It is strategically positioned with access to existing road, rail, and deep-water port infrastructure, supported by a skilled local workforce and low-cost hydroelectric power.
Recent metallurgical testing supports the production of a high-purity concentrate grading approximately 67% iron. Concurrently, the BFS is evaluating a trade-off scenario between initiating production at a 65% iron grade versus the planned 67% product. This analysis aims to determine whether a simplified flowsheet and higher weight recovery could result in reduced capital and operating expenditures.
The completion timeline for the BFS has been extended to accommodate ongoing optimization work and a targeted drilling campaign. Meanwhile, the environmental and social impact assessment is anticipated to be submitted in the second quarter of 2027, with permitting decisions expected by the end of 2028. This schedule would potentially enable construction to commence in the first quarter of 2029.
The Mont Sorcier project is wholly owned by Cerrado Gold through its subsidiary, Voyager Metals. It is being developed as a 100%-owned magnetite iron and vanadium asset, with a focus on producing high-purity, direct-reduced-iron (DRI)-grade iron products.
The project benefits from a substantial mineral resource base, comprising 678.5 million tonnes of indicated resources and 546.6 million tonnes of inferred resources. It is strategically positioned with access to existing road, rail, and deep-water port infrastructure, supported by a skilled local workforce and low-cost hydroelectric power.
Recent metallurgical testing supports the production of a high-purity concentrate grading approximately 67% iron. Concurrently, the BFS is evaluating a trade-off scenario between initiating production at a 65% iron grade versus the planned 67% product. This analysis aims to determine whether a simplified flowsheet and higher weight recovery could result in reduced capital and operating expenditures.
The completion timeline for the BFS has been extended to accommodate ongoing optimization work and a targeted drilling campaign. Meanwhile, the environmental and social impact assessment is anticipated to be submitted in the second quarter of 2027, with permitting decisions expected by the end of 2028. This schedule would potentially enable construction to commence in the first quarter of 2029.
The Mont Sorcier project is wholly owned by Cerrado Gold through its subsidiary, Voyager Metals. It is being developed as a 100%-owned magnetite iron and vanadium asset, with a focus on producing high-purity, direct-reduced-iron (DRI)-grade iron products.
