Suni Iron Project, ON, CA (100%)
The Suni project is a significant iron ore deposit in Northern Ontario, Canada having been fully explored by Can-Fer Mines in the 1960's with the delineation of 190,000,000 tons of 23% Fe resources. The deposit is strategically located near rail, power, and a historic port used in the transportation of iron ore.Read More
The Suni project is an advanced stage magnetite iron ore deposit located near Kowkash, Ontario, only 5 Km from the CN railway. Previous exploration by Can-Fer Mines and Algoma Steel included over 50,000 feet of diamond drilling and defined a resource of over 280,000,000 tonnes grading 28% Fe to a depth of 250 metres.
The deposit was advanced by Can Fer to feasibility status and a 2,000 tonne bulk test was completed before being sold to Algoma Steel in 1961.
Since acquiring the deposit, NRH has created significant value by engaging best in class consultants to complete a Technical Report, Independent Valuation & JORC Compliant Resource Estimate, and an Airborne Magnetic Survey.
Management believes that given Suni's unique promixity to rail and infrastructure (less than 5 Km) this deposit should be rapidly advanced towards production.
The Iron Ore market has been exhibiting strong fundamentals due to urbanization trends in emerging economies. Canada is well positioned as an important supply source given its vast supply of iron ore that far exceeds projected demand. Other countries such as Brazil, a major source of iron ore today, may need their supply to meet projected internal demand.
- Acquired in 2010
- 100% Owned by NRH
- JORC Compliant 280,000,000 Tonnes @ 28% Fe (Iron Ore)1
- Extensively Drilled Iron Ore Project in Ontario, Canada.
- 95,100,100 tons @ 28.5% Fe in the indicated category and 185,100,000 @ 27.8% in the inferred category.
- Airborne Magnetic Survey flown on May 2011 suggests mineralization is larger.
- Mineral Wealth Estimated at over $7.5 Billion at current Iron Ore prices.
- Close Proximity to Rail (5 Km), Power, and Ports used historically for Iron Ore transport.
- Holding Costs less than $.0002 per Tonne, per annum.
- Two resource estimates were completed in 2011 by Tetra-Tech and Ellis International and can be found in the "Project Reports" section.
Suni Iron Ore Resources
Mineral Resources have not demonstrated economic viability and should not be treated as reserves.
See "Cautionary Note Concerning Reserve & Resource Estimates"