This Preliminary Economic Assessment examines a vertically integrated mining and fertilizer complex utilizing an igneous phosphate deposit in northern Ontario.
Report context
This report has been compiled by Hatch Ltd. for Fox River Resources Corporation with input from independent consultants including Ausenco PSI, Chemetics Inc., DMT Group Consulting Ltd., Hatch Ltd., and JESA Technologies. Fox River commissioned this Preliminary Economic Assessment and updated Mineral Resource Estimate for its 100%-owned Martison Phosphate Project, located near Hearst, Ontario. The report is dated June 1, 2022, with an effective date of April 21, 2022, and is compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects. All currency figures are shown in United States dollars unless otherwise noted. The property consists of three Fox River mining leases and 19 unpatented contiguous mineral claims totalling 265 units, comprising approximately 8,256 hectares.
Processing route
Crushing, Storage, Blending and Reclaim
The proposed beneficiation plant receives run-of-mine feed and processes it through a crushing circuit. The design includes storage and blending facilities followed by reclaim to downstream processing.
Grinding and Desliming
Mill feed is ground and deslimed to prepare the material for subsequent separation stages. The proposed flowsheet includes grinding mills and desliming equipment to remove fine gangue particles prior to magnetic separation and flotation.
Magnetic Separation
The ground and deslimed slurry is processed through magnetic separation stages. The design employs both low intensity magnetic separation and wet high intensity magnetic separation to remove magnetic minerals, primarily magnetite, from the phosphate-bearing stream.
Flotation
Following magnetic separation, the phosphate-bearing material is processed through a flotation circuit. The proposed flotation section uses reagents to selectively separate apatite from gangue minerals. The design includes rougher, scavenger, and cleaner flotation stages to achieve the target concentrate grade.
Concentrate Grinding
The final phosphate concentrate is ground to a particle size distribution suitable for slurry pipeline transport. As-produced concentrate and ground concentrate for pipeline slurry transport have specified particle size distributions in the design.
Tailings Disposal and Water Recycle
Tailings from the beneficiation plant are directed to a tailings management facility. The design includes water recycle systems to recover process water for reuse in the plant. The annual average water balance for beneficiation has been calculated as part of the design basis.
Reagent Storage, Preparation and Dosing
The beneficiation plant design includes facilities for reagent storage, preparation, and dosing. Reagent consumption estimates have been developed for the proposed production schedule.
Key reported parameters
| Parameter | Units | Value | Basis |
|---|---|---|---|
| Mine life | years | 26 | Based on current Indicated and Inferred resources |
| Super phosphoric acid production | solution tonnes per year | 221,000 | Proposed design |
| Granular monoammonium phosphate production | tonnes per year | 474,000 | Proposed design |
| Granular nitrogen, phosphate + sulfur production | tonnes per year | 247,000 | Proposed design |
| Total drilling completed | metres | ~22,000 | Historical |
| Anomaly A drill holes | number | 207 | Historical |
| Anomaly A total meterage | metres | 20,407.7 | Historical |
| Anomaly B drill holes | number | 14 | Historical |
| Anomaly B total meterage | metres | 1,571 | Historical |
| 2008 bulk sample for pilot testing | tonnes | >40 | Testwork |
| 1984 bulk sample | tonnes | ~65 | Testwork |
| Residuum material types | , | 2A (unconsolidated), 2B (consolidated), 2C (low-grade partially weathered) | Historical classification |
| Target market , MAP total addressable market | million tonnes | 4.0 | Market study |
| Target market , NPS total addressable market | million tonnes | 2.0 | Market study |
| Target market , SPA total addressable market | million tonnes | 0.7 | Market study |
| Concentrate slurry pipeline length | km | 86 | Proposed design |
Project website: https://fox-river.ca/
Technical qualifications
This report is a Preliminary Economic Assessment as defined under National Instrument 43-101. The report contains estimates, projections and conclusions that are forward-looking information. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA will be realized. The report was prepared to allow Fox River Resources Corporation to reach informed decisions respecting the development of the Martison Phosphate Project. Sections should not be read or relied upon out of context.
Source: Martison Phosphate Project, Ontario, Canada , Preliminary Economic Assessment, National Instrument 43-101 Technical Report, report date June 1, 2022, effective date April 21, 2022, prepared for Fox River Resources Corporation.
