Lac Jeannine Mine Tailings Reclamation and Restoration Project Produces
CoTec Holdings (TSXV:CTH,OTCQB:CTHCF) (“CoTec” or the “Company”) is pleased to announce that recent metallurgical test work for the Lac Jeannine Mine Tailings Reclamation and Restoration Project (the “Project”) has proven the ability of the Project to produce a high-purity iron concentrate grading in excess of 67% FeT and low in impurities. The 67% FeT concentrate represents an important technical milestone that supports the Project’s positioning as a high-purity iron project aligned with Québec’s critical and strategic minerals framework and Canada’s Critical Minerals List, subject to completion of the ongoing Feasibility Study for the Project.
To be considered in the list of Québec’s critical and strategic minerals as high-purity iron, iron concentrate must contain at least 67% iron and be low in impurities.i Similarly, Canada’s Critical Minerals List was updated in 2024 to include high-purity iron in its list of critical minerals.ii
Julian Treger, CEO of CoTec, commented: “The 67% FeT concientrate is another major milestone for the Project. It validates the quality of the resource, the effectiveness of our processing strategy and our vision of transforming a historic environmental liability into a strategic asset capable of supporting the global transition to lower-carbon steel production.”
The 2026 Mineral Resource Estimate and Preliminary Economic Assessment (the “Project PEA“)iii demonstrated the project’s economic potential and confirmed its ability to produce a high-purity iron concentrate grading approximately 66.8% Feiv. Subsequent engineering and metallurgical optimisation programs through BBA have now validated pathways to producing a 67% FeT concentrate, low in silica and alumina and other deleterious elements.
Recent metallurgical test work conducted at Corem using bulk sample material (collected in 2023v) confirmed the production of high purity iron concentrate, in excess of 67% FeT. This test work is part of the ongoing Feasibility Study which remains subject to completion and disclosure in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Achieving this grade of concentrate is a critical milestone that significantly enhances the project’s strategic importance. As global steel producers continue to seek higher-grade feedstocks capable of reducing carbon emissions and improving blast furnace and DRI efficiencies, the confirmed concentrate quality supports the Project’s potential to align with the technical requirements supporting the industry’s transition to lower-carbon steel production methods.
With feasibility work continuing, environmental baseline studies underway and engagement progressing with Indigenous communities and government stakeholders, the Project is steadily advancing toward its next development phase. The Project PEA indicates an after-tax net present value of US$91.9 million and an internal rate of return of 29.6% over a projected 15-year mine life, with…
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