Black Thor & Black Label Chromite Deposits
The Black Thor chromite deposit was discovered in the fall of 2008 while testing a 3 km gravity anomaly. Further drilling in 2009 revealed another parallel chromite horizon 150 m to the northwest now known as Black Label.
A detailed feasibility level analysis was completed on the Black Thor project by Cliffs Natural Resources in May 2013. The study contemplated an open pit mine with an 8:1 stripping ratio producing a diluted grade of 30.7% Cr2O3 ore over a 30-year mine life. Ore was then to be transported by truck and rail to a yet-to-be-built ferrochrome processing facility. The estimated capital cost was $4.4 billion over a 6 year construction period.
Noront is currently reviewing the Feasibility Study for this recently acquired site, along with the associated technical and social documentation. Our goal is to produce a strategic plan and a comprehensive preliminary economic analysis (PEA) for all the development options for the Ring of Fire chromite projects.