Ironstone Resources Ltd. owns and operates a 100% WI in over 185,000 of Alberta mineral permits and leases. The Clear Hills ironstone deposits consists of flat-lying oolitic sandstones of Cretaceous age (Bad Heart) from 5 to 30 feet thick, which are exposed along the south and eastern slopes of the Clear Hills. Better than most banded iron deposits of eastern North America, the iron content of these beds grades between 32 and 38 percent Fe, mainly in the form of Goethite (Fe203-H2O). Associated vanadium (V2O5) grades around .21-.24% V2O5.
Features include:
- a large NI 43-101 compliant indicated mineral resource of 557.7 Mt grading 33.3% Fe and 0.20% vanadium pentoxide (SRK 2012)
- a location in Alberta – one of the world's top mining jurisdictions
- local access to carbon reductant (coal and natural gas)
- well developed local infrastructure including nearby communities, paved highways, high capacity rail, and a skilled labour force
- a potential for 50+ years of mine life at full production using low-cost surface mining technology in an environmentally sustainable way
- high margin, high value products including direct reduced iron (DRI) and vanadium pentoxide, targeting annual production of 2.5 million tonnes of hot briquetted iron and 30 million pounds of vanadium pentoxide