- The worldwide markets for nickel, cobalt, and copper are strong
- Nickel and cobalt are key commodities for a “Green Future”; in particular for their use in Electric Vehicles (EVs) batteries
- Newfoundland & Labrador is a mining friendly jurisdiction
- The Pedro Resources claims have geophysical characteristics similar to those at the Voisey’s Bay mine area
- Current compilations of geological data suggest that the Pedro claims contain rock types favourable for Voisey’s Bay type deposits
- Further technical analysis can begin in early 2021 with on-site exploration following when weather permits
The 25,125 hectare Voisey’s Bay West project is located in northern Labrador, Canada, 4.5 km to the southwest of Vale’s Voisey’s Bay Mine property. Voisey’s Bay Mine is one of the largest nickel mines in Canada. The Pedro Resources claims are located 60 km from the Nain airstrip and 15 km from tidewater. The land package was designed by a consortium of former senior level Vale employees and consultants, utilizing decades of experience working in the Voisey’s Bay district.
The regional geology of the Voisey’s Bay West property consists of highly metamorphosed gneisses and igneous intrusions of variable age and composition. Compilation of existing data indicates the presence of mafic to ultramafic intrusions (the host rock to massive sulfides in the area) under a shallow granitic cap. Historical operators, including Vale, have transected the four main lithologies associated with the Voisey’s Bay deposit on our current land package.
Voisey’s Bay West shares similar geophysical characteristics to the Voisey’s Bay mine area. Deep-seated northeast-southwest structures that are intersected by later east-west trending faults have been identified, coupled with gravity, magnetic, and electromagnetic anomalies. Historical geophysical surveys have been compiled and processed to remove low prospectivity lithological trends and prioritize isolated clustered anomalies that are prospective for massive sulfide mineralization.
A comprehensive review of existing geological, geophysical, and geochemical data identified significant exploration targets with high potential for nickel, cobalt, and copper mineralization that were historically under/unexplored by Vale and other junior exploration companies:
- Konrad Target: Low angle, shallow drill holes. Not drilled along margin of intrusion. No structural compilation. Failed to isolate geophysical target.
- Garland Target: Although a Vale project, program didn’t integrate brownfield exploration model; structure, geophysics and geochemistry.
- Cabot Lake Target: Historical exploration program did not incorporate the "true" Voisey’s Bay Model. Drill holes did not follow the structural and geological signature unique to Voisey’s Bay.
Proposed Work Program
- Local Engagement
Discussions with First Nations groups and local communities
- Compilation and Interpretation
Assess significance of findings, identify targets
8,000 metres of diamond drilling on priority targets