RUTILE WHAT?
- Rutile is a mineral composed mainly of titanium dioxide (TiO2).
- Titanium is a metal that has the highest strength-to-density ratio of any metal so far discovered along with high corrosion resistance. It is very valuable and has a host of uses, from aerospace construction to medical devices and sports equipment (not to mention paint pigments, which make up 65% of worldwide sales).
RUTILE PRICES AVERAGED WELL OVER US$ 1,100/T* IN 2019.
- The market is growing rapidly and new discoveries are getting rare.
*Source: Iluka Resources Ltd Quartely Review, December 31, 2019
BACKGROUND
- Iluka is fulling funding exploration work. It may earn a 90% interest in the project by spending $2.7 M. Vior will retain a 2% GRR on titanium metals and a 2% NSR on all precious and base metals. Vior is the operator during the exploration phase.
- Iluka Resources Ltd. is the largest titanium dioxide producer in the world, with mining operations in Australia, Sierra Leone and Sri Lanka.
- Located in Charlevoix, at 100 km north-east of Quebec City with excellent access and infrastructure nearby.
- Three large blocks of 577 claims for 32,015 ha.
GEOLOGY
- Glacial trains of rutile-bearing massive ilmenite boulders grading up to 57.6% TiO2 discovered since 2015.
- Recently completed a 13 holes (2,664 m) drill program to test the
- HeliFalcon gravity-gradiometric anomalies leading to the discovery of two new massive ilmenite pods.
NEXT STEPS
- The rutile-bearing massive ilmenite drill core is being processed and analyzed by IOS Services Géoscientifiques to determine its physical, mineralogical and geochemical characteristics for the next exploration follow-up.
