Lac Otelnuk mine (original) (raw)

The Lac Otelnuk mine is Quebec's largest iron mine project with NI 43–101 compliant estimated reserves of 23.74 billion tonnes of ore grading 29.65% iron metal. 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 Wuhnan Iron and Steel Co. (WISCO). More than $150 million in expenditures have been invested in the exploration, all studies, the 2015 NI 43-101 compliant feasibility study and the formation of the Lac Otelnuk mining Company between Adriana Resources Inc and WISCO.