VIOR INC. (VIO-V) VIOR discovers new phosphate horizons of >16.5 km of strike potential at the Foothills Project, Québec
Vior reported on September 20, 2023 initial field exploration results from a 2023 Summer exploration program at its 100% owned district-scale Foothills Project near Saint-Urbain, Charlevoix, Québec. The Foothills Project is comprised of 532 claims covering ~28,700 ha. north of the town of Saint-Urbain, ~100km NE of Québec City. Summer field exploration sampling has confirmed an extensive mineralized igneous anorthosite-related phosphate (P2O5) system on the Foothills Project. In addition to this new phosphate discovery, the Project is also known for its high-grade mineral content in rutile-bearing massive ilmenite oxide (titanium - TiO2). The Foothills Project benefits from a quality road network, skilled workforce and is in relatively close proximity to a deep-water port located ~93 km at Saguenay to the NW along Route 381. Recall, Vior had announced on August 16, 2023 an update on its early summer 2023 field exploration programs across 3 key exploration projects in Québec: i) Belleterre Gold Project, ii) Belleterre Critical Minerals Project (Lithium) and iii) Skyfall Nickel Project (see: https://www.dhirubhai.net/posts/eric-lemieux-9468715_quebec-gold-lithium-activity-7097687048907616257u7nS?utm_source=share&utm_medium=member_desktop).
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Developing new opportunity: Vior has identified 2 corridors of 9 and 7.5 kms respectively, along the Saint-Urbain anorthosite contact. These new corridors remain open along strike and encompass a series of outcrops with high P2O5 grades of >4% along the contact rim between the anorthositic complex of St-Urbain and the Grenville country rocks. This contact is being recognized as the primary mineralized exploration target for Oxide Apatite Gabbronorite (OAGN). These oxide and apatite-rich layers have been identified over several meters in thickness and in numerous locations along strike.
The mineralized horizons are associated with an anorthositic complex and are located in a geological environment similar to other known economic phosphate deposit systems. Up to 139 outcrop samples were collected, of which 67 have returned values ranging from 4 to 6.3% P2O5. Moreover, the Foothills Project hosts some historic higher-grade mineralization of >10% P2O5 that has been recognized in boulders.
Additionally, occurrences of strongly anomalous Zirconium (Zr) and heavy Rare Earth Elements (REE) were sampled in nearby magnetic country rocks at 2 different locations which shall receive additional exploration work.
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Ultimately, additional fieldwork is planned to further evaluate and expand on the full potential of this interesting new phosphate discovery. In light of the expanding LFP market, Vior could be well positioned to materialize value. Equally, management is looking at ways to potentially create value for other mineral potential on the Project.
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Mark Fedosiewich, Vior's President and CEO stated: "This previously unplanned exploration program at Foothills is a testament to the adaptability and experience of Vior's outstanding technical team as we pivoted to this project in response to summer wildfires in Quebec. Given the outstanding initial exploration results and Foothills' significant mineralized surface footprint, along with its favourable location, this Project could rapidly become an important component of Vior's overall value creation strategy. Anorthosite-type phosphate deposits represent only a small fraction of global phosphate reserves and production. These higher-purity deposits are more environmentally desirable for both the lithium iron phosphate ("LFP") battery and fertilizer markets. The Foothills Project is Vior's third project, along with our Skyfall Nickel and our Belleterre Critical Mineral Project that uniquely positions Vior shareholders for the exciting opportunities in the battery metals revolution".
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See also end: https://www.dhirubhai.net/pulse/vior-inc-vio-v-details-its-springsummer-2023-work-plans-eric-lemieux/
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Important Disclosures
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Vior Inc. ??????????????? ???????????????????????????????
D???????????? The Mining Analyst, in his own account or in a family related account, owns securities in excess of 50,000 shares of the issued and outstanding equity securities of this issuer.
V???????????? The Mining Analyst has visited certain material operations of this issuer, namely the Belleterre project in July 2021 and the Foothills project in 2016.
R???????????? This issuer has indirectly paid the Mining Analyst.
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Mining Analyst Certification
I, éric Lemieux, Mining Analyst, hereby certify that the comments and opinions expressed in this report accurately reflect my personal views about the subject and the issuer.
UPDATE - February 7, 2024:
VIOR INC. (VIO-V)
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VIOR options its Foothills Project to NioBay Metals
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领英推荐
On February 7, 2024, Vior announced that it has executed a definitive Option Agreement with NioBay Metals Inc. (NBY-V), for Vior's Foothills Project. The Foothills Project is comprised of 529 claims covering ~28,500 ha. north of the town of Saint-Urbain. It is located ~100km NE of Québec City and ~90km south of the deep-water port at Saguenay (La Baie area), Québec. The Option Agreement outlines the final terms and conditions between Vior and NioBay, providing NioBay with the right to acquire an 80% undivided interest in the Foothills Project.
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Phosphate optionality: Québec is said to have good potential for apatite mineralization. The Grenville Geological Province contains phosphate resources associated with anorthositic complexes, bedded igneous complexes and carbonatites of alkaline complexes. Exploration activities has led to the discovery of several mineralized apatite zones and deposits, in particular in the regions of the Saguenay–Lac-Saint-Jean; the Québec North Shore; Outaouais and the Mauricie of the Laurentians. The district-scale Foothills Project includes a group of properties with strong potential for critical and strategic minerals. It encompasses most of the contact of the intrusive zone known as the St. Urbain anorthosite. Recall Vior had confirmed on September 20, 2023, following initial field exploration results, the presence of rutile-ilmenite, with results up to 57% titanium dioxide (TiO2), as well as phosphate (P2O5). Vior had identified 2 corridors of 9 and 7.5 kms respectively, along the Saint-Urbain anorthosite contact. These new corridors are along the contact rim between the anorthositic complex of St-Urbain and the Grenville country rocks. This contact is target for Oxide Apatite Gabbronorite (OAGN); of 139 outcrop samples collected, 67 contain P2O5 values of 4.0 to 6.3%, and boulder samples reveal some historic higher-grade mineralization of over 10% P2O5. These oxide and apatite-rich layers have been identified over several meters in thickness and in numerous locations and remain open along strike. Occurrences of strongly anomalous Zirconium (Zr) and heavy Rare Earth Elements (REE) are also present.
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Fair terms: NioBay shall have the option to acquire the 80% undivided interest by paying by December 31, 2027 a total of $400,000 in staged cash payments; issuing equivalent of 5.5M shares and completing $4M in work expenditures. ?NioBay shall act as operator during the Option period. NioBay shall have the right to accelerate the vesting period of this 80% undivided interest by incurring expenditures, making cash payments, and making share-based payments at any time before December 31, 2027. The Option Agreement provides that once one party's interest in the Foothills Project and/or the JV falls below 10%, this interest shall be transferred to the other party and converted into a 1.5% NSR royalty on precious and base metals, and a 1.5% GRR (Gross Revenue Royalty) on mineral substances. ?For both, 0.5% maybe collectively redeemable for an aggregate amount of $1.5M. We estimate the value of the transaction at ~$166/ha.
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Mark Fedosiewich, President and CEO of Vior, stated: "We are very pleased to enter into this Agreement with an experienced partner such as NioBay who has the specific expertise required to fully uncover the Project's mineral potential. The Foothills Project is a non-core asset for Vior that holds much promise, however, due to our recent focus and efforts at our flagship Belleterre Gold Project, Foothills has not been afforded the exploration commitment it deserves. Vior shareholders will now have the opportunity to participate in its upside success by having NioBay rapidly advance it".
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See for Niobay Metals (NBY-V):
Recall, Vior holds, among other, the 3 key exploration projects in Québec: i) Belleterre Gold Project, ii) Belleterre Critical Minerals Project (Lithium) and iii) Skyfall Nickel Project. Applying a hybrid prospector-generator model, Vior is exposed to high potential gold and critical mineral discoveries and development.
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See:
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As well as: https://www.dhirubhai.net/pulse/vior-inc-vio-v-details-its-springsummer-2023-work-plans-eric-lemieux/
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