CoTec Completes Infill and Expansion Resource Drilling Programme at the Lac Jeannine Project, Engages Corem for Metallurgical Testing and Commences a Process To Appoint an EPCM Provider for the Feasibility Study
CoTec Holdings (OTCQB:CTHCF) has completed its 2025 sonic drilling and bulk sampling programme at the Lac Jeannine Iron Tailings Project in Québec, Canada. The company has engaged Corem for metallurgical testing and is preparing to appoint an EPCM provider for a Feasibility Study set to begin in Q3 2025.
The project's previous Preliminary Economic Assessment showed promising results with a pre-tax NPV of US$93.6M and IRR of 38% (after-tax NPV of US$59.5M and IRR of 30%). The drilling program completed 572 meters across 12 holes, targeting the upgrade of existing Inferred Mineral Resource of 73 million tonnes at 6.7% total Fe. Additionally, 7 tonnes of tailings and waste rock samples were collected for testing, with results expected in Q4 2025.
CoTec Holdings (OTCQB:CTHCF) ha portato a termine il programma di carotaggi sonici e di campionamento bulk 2025 presso il progetto Lac Jeannine Iron Tailings in Québec, Canada. La società ha incaricato Corem per le prove metallurgiche e si sta preparando a nominare un fornitore EPCM per lo studio di fattibilità, la cui attività è prevista a partire dal terzo trimestre 2025.
La precedente Preliminary Economic Assessment del progetto aveva evidenziato risultati incoraggianti con un NPV pre-tasse di US$93,6M e un IRR del 38% (NPV post-tasse di US$59,5M e IRR del 30%). Il programma di perforazione ha completato 572 metri distribuiti in 12 fori, con l’obiettivo di migliorare la classificazione della risorsa minerale inferita esistente di 73 milioni di tonnellate al 6,7% Fe totale. Inoltre sono stati raccolti campioni per test per un totale di 7 tonnellate di fanghi e rocce di scarto; i risultati sono attesi nel quarto trimestre 2025.
CoTec Holdings (OTCQB:CTHCF) ha finalizado su programa de perforación sónica y muestreo a granel 2025 en el proyecto Lac Jeannine Iron Tailings en Québec, Canadá. La compañía ha contratado a Corem para las pruebas metalúrgicas y se está preparando para nombrar a un proveedor EPCM para el estudio de factibilidad, que comenzará en el tercer trimestre de 2025.
La anterior Preliminary Economic Assessment del proyecto mostró resultados prometedores con un VAN antes de impuestos de US$93,6M y una TIR del 38% (VAN después de impuestos de US$59,5M y TIR del 30%). El programa de perforación completó 572 metros en 12 sondeos, con el objetivo de mejorar la categoría de la Reserva Mineral Inferida existente de 73 millones de toneladas al 6,7% Fe total. Además, se recogieron 7 toneladas de muestras de relaves y roca de desecho para ensayo; los resultados se esperan en el cuarto trimestre de 2025.
CoTec Holdings (OTCQB:CTHCF)는 캐나다 퀘벡의 Lac Jeannine Iron Tailings 프로젝트에서 2025년 초음파 시추 및 벌크 시료 채취 프로그램을 완료했습니다. 회사는 광물 가공 테스트를 위해 Corem을 지정했고, 2025년 3분기 시작 예정인 타당성 조사용 EPCM 업체 선정을 준비 중입니다.
이 프로젝트의 이전 Preliminary Economic Assessment는 법인세 전 NPV US$93.6M와 IRR 38%(법인세 후 NPV US$59.5M, IRR 30%) 등 유망한 결과를 제시했습니다. 시추 프로그램은 12개 공에 걸쳐 총 572미터를 완료했으며, 기존 추정된 추정광물자원(Inferred Mineral Resource)인 총 7300만 톤, 총 Fe 6.7%의 등급 상향을 목표로 했습니다. 또한 시험용으로 꼬리물과 폐석 샘플 총 7톤을 채취했으며, 결과는 2025년 4분기에 예정되어 있습니다.
CoTec Holdings (OTCQB:CTHCF) a terminé son programme de forage sonique et d'échantillonnage en vrac 2025 sur le projet Lac Jeannine Iron Tailings au Québec, Canada. La société a mandaté Corem pour des essais métallurgiques et se prépare à nommer un prestataire EPCM pour une étude de faisabilité qui doit commencer au troisième trimestre 2025.
La précédente Preliminary Economic Assessment du projet avait montré des résultats prometteurs avec une VAN avant impôts de 93,6 M$ US et un TRI de 38% (VAN après impôts de 59,5 M$ US et TRI de 30%). Le programme de forage a totalisé 572 mètres répartis sur 12 trous, visant à améliorer la classification de la ressource minérale présumée existante de 73 millions de tonnes à 6,7% Fe total. De plus, 7 tonnes d'échantillons de résidus et de stériles ont été collectées pour des tests ; les résultats sont attendus au quatrième trimestre 2025.
CoTec Holdings (OTCQB:CTHCF) hat sein Sonic-Bohr- und Bulk-Probenprogramm 2025 beim Lac Jeannine Iron Tailings Project in Québec, Kanada, abgeschlossen. Das Unternehmen hat Corem mit metallurgischen Tests beauftragt und bereitet die Ernennung eines EPCM-Anbieters für eine Machbarkeitsstudie vor, die im dritten Quartal 2025 beginnen soll.
Die vorherige Preliminary Economic Assessment des Projekts zeigte vielversprechende Ergebnisse mit einem steuerlichen NPV von US$93,6M und einer IRR von 38% (nach Steuern NPV US$59,5M und IRR 30%). Das Bohrprogramm umfasste 572 Meter in 12 Löchern und zielte darauf ab, die vorhandene Inferred Mineral Resource von 73 Millionen Tonnen mit 6,7% Gesamt-Fe aufzuwerten. Zusätzlich wurden 7 Tonnen Tailings- und Abraumproben für Tests entnommen; die Ergebnisse werden im vierten Quartal 2025 erwartet.
- Project expansion potential to almost double mine life with no additional capex
- Strong economic indicators with 38% pre-tax IRR and US$93.6M NPV
- Strategic focus on green steel industry with high-purity iron concentrates
- Government and First Nations stakeholder support secured
- Bulk sampling and assay results pending until Q4 2025
- Current resource remains in Inferred category, requiring upgrade to Indicated
VANCOUVER, BC / ACCESS Newswire / August 28, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to announce the completion of its 2025 sonic drilling and bulk sampling testing programme at the Lac Jeannine Iron Tailings Project, Québec, Canada ("Lac Jeannine", or the "Project"). The Company has engaged Corem to complete the metallurgical testing and has commenced a process to appoint a EPCM provider for the Feasibility Study. The Feasibility Study is expected to commence in Q3, 2025.
Julian Treger, CoTec CEO commented; "CoTec has progressed its discussions with strategic partners to move rapidly onto preparation of a Feasibility Study with the support of all stakeholders, including the Government of Québec, First Nations and other interested parties. The results from this next phase of drilling and bulk sample collection will allow CoTec to increase its current resource estimate for Lac Jeannine and potentially unlock additional material outside of the tailings dam to reprocess.
The Company is very excited to commence a Feasibility Study regarding the recovery and production of critical mineral iron ore concentrate at competitive cost structures which can deliver high purity iron concentrates for the green steel industry. The Lac Jeannine Project offers great potential for the resource industry to recover the economic benefit of large Fe tailing sites."
In June 2024 CoTec announced the completion of an initial Mineral Resource Estimate (the "MRE") and positive Preliminary Economic Assessment ("PEA") for the Project[i]. Based on open-pit extraction methods and the production of a gravity concentrate via conventional processing techniques and at a discount rate of
The completed drilling targeted upgrading the existing Inferred Mineral Resource of 73 million tonnes (Mt) at
Drilling Highlights
An infill and expansion programme totalling 572 meters of sonic drilling for 12 holes, drilled up to 58 meters, was completed on the historical tailings of the previous Lac Jeannine iron ore mine operated by the Québec Cartier Mining Company between 1959 and 1985.
Additional bulk sampling has also been concluded, a total of 7 tonnes of tailings and waste rock dumps were recovered to assess their iron content and has been shipped to Corem's testing facility in Québec.
Bulk sampling and assay results are expected in Q4 2025.
The Independent Qualified Person as defined by NI 43-101 for the Lac Jeannine Mineral Resource, Mr. Christian Beaulieu, P.Geo., is a member of l'Ordre des géologues du Québec (#1072). The Qualified Person has reviewed and approved the scientific and technical content of this announcement relating to the Lac Jeannine Mineral Resource.
About CoTec
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock secure, sustainable, and low-cost supply chains for the United States and its allies.
CoTec's mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the Company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams, and recycled products into high-value critical minerals.
From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Québec, to next-generation copper and iron solutions backed by global majors, CoTec is building a diversified portfolio with long-term growth, rapid cash flow potential, and high barriers to entry. The result is a game-changing platform at the intersection of technology, sustainability, and strategic materials.
For more information, please visit www.cotec.ca
For further information, please contact:
Braam Jonker - (604) 992-5600
Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements" which involve risks and uncertainties, including statements relating to the Lac Jeannine 2025 sonic drilling and bulk sampling testing programme and management's expectations with respect to other current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements, due to known and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social and transport disruptions. For further details regarding risks and uncertainties facing the Company please refer to "Risk Factors" in the Company's filing statement dated April 6, 2022, a copy of which may be found under the Company's SEDAR profile at www.sedar.com. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release and are encouraged to read the Company's continuous disclosure documents which are available on SEDAR at www.sedarplus.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
[i] For further details, please refer to the technical report entitled "Mineral Resource Estimate, Preliminary Economic Assessment and NI 43-101 technical report for CoTec's Lac Jeannine Fe Tailings Project, Québec, Canada" dated August 5, 2024 and having an effective date of March 19, 2024 prepared by Addison Mining Services Ltd., JPL GeoServices Inc., Soutex Inc., Amerston Consulting Ltd. and Axe Valley Mining Consultants Ltd. A copy of the technical report is available under CoTec's profile on SEDAR+ (www.sedarplus.com) and the Company's website
SOURCE: CoTec Holdings Corp.
View the original press release on ACCESS Newswire
FAQ
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