Foothills : Rutile (TiO2) Project
- 100% owned by Vior and was optioned to Iluka Resources Limited (ASX: ILU)
- Iluka Resources Limited (ASX: ILU) is the largest producer of high-grade titanium dioxide products in the world
- According to the terms of the deal, Iluka Resources Limited (ASX: ILU) may earn an initial 51% interest (the First Option) in the Foothills property by incurring exploration expenditures totalling $400,000 during the first year of the agreement. Vior will be project operator during this period. After earning an initial 51% interest, Iluka may elect to increase its interest to 90% (the Second Option) over another two-year period, by incurring an additional $2,100,000 in exploration expenditures.
- Rutile price avg CA $1000/t in 2016
- 2.1M$ in exploration work scheduled for 2017-2018
- 640k has been spent in 2016 on exploration work
- Location : St-Urbain, Quebec
The Foothills property is 100% owned by the Company and consists of 478 contiguous map-designated claims covering more than 27,716 hectares and located near Saint-Urbain, a historic iron-titanium mining camp located about 100 kilometres east of Quebec City.
The Foothills project covers the Saint-Urbain Anorthositic Complex, where two kilometre-scale trains of rutile-rich ilmenite blocks and fragments were delineated by Vior in surficial glacial sediments during the 2014 and 2015 field programs. Ilmenite blocks which contain visually significant amounts of rutile minerals yielded assay values for titanium dioxide (TiO2) ranging from 42.1% to 57.6%, with an average of 52.5%. Glacial dispersal patterns in the area suggest the source of these blocks is proximal, located within a few kilometres distance, either in the Saint-Urbain Anorthositic Complex or along its contact zone with gneissic country rocks.
This work led to the discovery of two new massive ilmenite occurrences, the Boudreau and Blueberry Lake showings, as well as the discovery of more than 50 new blocks and fragments of rutile (TiO2)-enriched ilmenite (Fe2TiO3) on the property. These discoveries are the result of a follow-up field campaign, announced in a press release dated June 2, 2015, focusing on magnetic targets defined during a helicopter-borne high-resolution magnetic survey conducted in the winter of 2015.
On March 9, 2016, the Company announced the conclusion of an option and joint venture agreement with Iluka Exploration (Canada) Ltd (“Iluka”), a wholly-owned subsidiary of Iluka Resources Limited (ASX: ILU), the largest producer of high-grade titanium dioxide products of rutile and synthetic rutile. Iluka has the option to earn an undivided interest in the Foothills property. Under the terms of the agreement, Iluka may earn an initial 51% interest (the First Option) in the Foothills property by incurring exploration expenditures totalling $400,000 during the first year of the agreement. Vior will be project operator during this period. After earning an initial 51% interest, Iluka may elect to increase its interest to 90% (the Second Option) over another two-year period, by incurring an additional $2,100,000 in exploration expenditures.
Following execution of the agreement with Iluka, the Company proceeded with a helicopter-borne high-resolution magnetic survey covering a surface area of 130 square kilometres in the central and northern parts of the property, totalling 1,515 kilometres of flight lines at a 100-metre spacing. In parallel, a ground gravity survey comprising 847 reading stations was completed along 47 kilometres of logging roads in the central part of the property. The interpretation of results from these recent magnetic and gravity surveys helped improve our geological understanding of the property and identify high-priority areas, where a follow-up field program was carried out starting in early June 2016. This work consisted in mapping and systematic rock sampling of geophysical targets identified during the two geophysical surveys. Field work is expected to continue all summer; mechanical stripping of outcrops is also planned during this time.
In the industry, most of rutile and ilmenite is processed into non-toxic titanium dioxide pigment for use in the manufacture of paints, plastics, paper, textiles, cosmetics and ceramics. Rutile is also used to produce titanium metal for use in the aerospace industry, surgical implants, and for motor vehicles and desalination plants.