Copper Fox reports indicated reserves of 71mt for Eaglehead project

Industry innovators are tapping  coal and its waste streams to extract rare earths, 17 essential elements  to realizing an electrified economy.

The company, Société de Recherche et d'Exploitation Minière du Mali (Sorem SA), will be fully funded by the state.

The company released a prefeasibility study for the project in northern Ontario, showing lower resource grades and a reduced net present value, while dropping a plan to build a refinery.

The financing includes private placements with NexGen Energy and Queen’s Road Capital.

The claims are adjacent to and near Sayona’s North American Lithium (NAL) project that is returning to production early next year.

The company has drilled over 5,500 metres in 18 holes this year as part of the Wicheeda resource delineation and pit geotechnical program.

This month, Perpetua’s modified mine plan was identified as the preferred alternative due to improvements in water quality and temperature and site access benefits. 

Highlighted results, all from the Upper Horizon area of the Hilltop target, include 60.2 g/t gold, 908.7 g/t silver, 15.7% lead and 1.1% zinc over 10 metres.

The Baptiste pit-constrained resource estimate includes 1.82 billion tonnes of indicated resources grading 0.211% total nickel.