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Cerrado Gold Provides Update on Its Mont Sorcier High Grade Direct Reduction Iron (DRI) Project in Quebec
Feasibility Study completion targeted for Q2 2026 Targeting Increased Production rate of ...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Provides Update on Its Mont Sorcier High Grade Direct Reduction Iron (DRI) Project in Quebec \n\n\n\n\n\n Feasibility Study completion targeted for Q2 2026\n \n\n\n\n Targeting Increased Production rate of 8 MM tpa of 67% iron concentrate in a 2-stage phased development approach\n \n\n\n\n TORONTO, Nov. 10, 2025 (GLOBE NEWSWIRE) --\n \n CERRADO GOLD\n \n (\"Cerrado\" or the \"Company”) is pleased to provide an update on the progress and anticipated changes to the development proposal for its Mont Sorcier high purity magnetite iron project located on the traditional Cree territory of Eeyou Istchee James Bay in the municipality of Chibougamau, Quebec. Mont Sorcier is currently in the later stages of a Feasibility Study targeted for completion in Q2 2026.\n \n\n As previously announced and based on updated metallurgical testwork, the Mont Sorcier project can produce a premium 67% iron concentrate over a long mine life. The high grade and high purity nature of the iron concentrate product deems it as a Critical Mineral Project as outlined by the Canadian and Quebec governments. The magnetite iron mineralization allows for it to be concentrated into high-grade low impurity material, making the product suitable for direct reduction iron (“DRI”) or pellet feed, contributing to the decarbonization of the steel industry and the achievement of sustainable development goals. Currently, the growth in demand for high grade DRI material is approximately 10% pa; well above the growth for the broader iron ore market, resulting in significant price premiums relative to more standard and lower grade iron ore concentrates.\n \n\n Due to its location, low strip ratio, and innate infrastructure advantages, namely availability of existing rail and Port of Saguenay, the feasibility study is expected to demonstrate a long life mine with high margins, low operating costs, and low capital intensity.\n \n\n Mark Brennan, CEO & Co-Chairman commented: “\n \n As we progress through the different elements of the Feasibility Study, we continue to be impressed by the significant potential of this asset to be developed into a long life, robust operation. With the revised scope now being incorporated into the Feasibility Study, we expect the forthcoming Feasibility Study to clearly demonstrate the project’s stro...