Overview
Lac Virot is located in Newfoundland and Labrador is 12km away from Labrador City. The project hosts Lake Superior-type iron formation, within the Labrador Trough geological belt.
Lac Virot is within a 15km radius of four world class iron ore projects: IOC’s Carol Lake, Champion Irons’ Bloom Lake, Tacora Resources’ Scully Mine, and ArcelorMittal’s Mont Wright.
The Lac Virot property exhibits widespread exposure of the Sokoman Formation, the unit of primary importance within the Knob Lake Group for iron ore exploration regionally. Outcrops of the Sokoman Group at Lac Virot are relatively simple comprised of quartz and iron-bearing minerals including mostly magnetite with lesser hematite or specularite in its coarse-grained form, and goethite. The most economically significant iron formation units on the property may be described as massive or banded quartz-magnetite-specular hematite schists that contain approximately 50% silica and 50% iron minerals by volume.
There is significant exploration potential at Lac Virot, which has only 12,000m of recorded drilling. Airborne geophysical exploration has historically been carried out on the property, revealing large anomalies in both the northern and western sections of the project. The anomalies were subsequently mapped and the presence of outcropping banded iron formations was confirmed.
Cornerstone assets
