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Temas Resources Completes Acquisition of Flagship Iron, Titanium, and Vanadium Property and Provides Public Update on The Critical Mission of Mineral Independence
Temas Resources Corp. (“The Company”, “Temas Resources”, CSE: TMAS, OTCQB: TMASF), a publicly traded company focused on the advancement of mineral independence
About this update from Temas Resources Corp.
[{"type":"text","content":"Temas Resources Corp. (“The Company”, “Temas Resources”, CSE: TMAS, OTCQB: TMASF), a publicly traded company focused on the advancement of mineral independence within stable, mining-friendly jurisdictions, announced today it has completed the acquisition of 100% interest in the La Blache Property. In 2012, a historic estimate of 101,700,000 tonnes grading 59.7% Iron(III) oxide (Fe2O3) [41.76% Iron], 18% Titanium(IV) oxide (TiO2), and 0.33% Vanadium oxide (V2O5) [0.18% Vanadium] in the inferred category at a cut-off of 5.1% Titanium(IV) oxide (TiO2) equivalent grade was published by SGS Canada for the Farrell-Taylor Deposit located entirely within the La Blache Property. Reported in the document titled “NI 43-101 Technical Report: Resource Estimation of the La Blache Project Cote-Nord, Quebec, Canada for Nevado Resources Corporation”. This historic estimate is relevant because it is the culmination of previous work conducted on the property. This historic estimate was prepared to the quality and rigour as defined by NI43-101 standards in 2012 and at the time would have been considered an inferred resource, but does not meet current standards. A qualified person has not conducted sufficient work on the historical estimate required to categorize this resource to current CIM definitions of a resource (additional work may include additional drilling requirements). Temas Resources is not treating this historic estimate as current mineral resources and a qualified person has not reviewed the work to define the quality of the work associated with this historic estimate. Kyler Hardy, CEO of Temas Resources, stated “We are excited to close the acquisition of 100% ownership of the La Blache Property. This flagship property is an excellent complement to our first project, the DAB Property, and both combined represent a considerable footprint for our company in the Grenville Geological Province. To secure these Iron, Titanium, and Vanadium claims within the stable, mining-friendly jurisdiction of Quebec, Canada completes a major milestone in the development of Temas Resources and moves us one step closer to advancing the greater mission of mineral independence.” Acquisition Highlights: “The La Blache Property” The historic estimate was considered an inferred resource, but modifications to resource estimation in 2014 were not applied to the r...