Lac Otelnuk mine
From Underfoot
Q16966135
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Lac Otelnuk mine is the largest iron mine project in Quebec, Canada, with NI 43–101 compliant estimated reserves of 23.74 billion tonnes of ore grading 29.65% iron. In 2005, Bedford Resource Partners staked 129 claims over the deposit and optioned it to Adriana Resources. In 2012, 60% ownership of the iron deposit was sold to Wuhan Iron and Steel Corporation (WISCO). Over $150 million have been invested in the exploration, studies, the 2015 NI 43-101 compliant feasibility study, and the formation of the Lac Otelnuk Mining Company, a joint venture between Adriana Resources Inc and WISCO.
