*A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource and Anteros Metals Incorporated is not treating the historical estimate as a current mineral resource. Anteros believes that these historic results provide an indication of the potential of the property and are relevant from a continuing exploration perspective. Historical mineral resource estimate from the Report entitled Technical Report: Schefferville Area Phase I DSO Iron Projects Resource Update, Western Labrador – NE Québec, Canada by Maxime Dupéré dated June 27, 2014 and is filed on SEDAR. The Technical Report was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101), NI 43-101F1, and with CIM standards and Mineral Resource best practices. The stated resource uses an iron cut-off grade of 50%, and grades were not capped.
The Knob Lake Iron and Manganese Deposit is located in western Labrador 2.5 kilometres south of Schefferville, Québec, 1.5 kilometres east of the James Iron Deposit, and 2.3 kilometres southeast of the former Silver Yards beneficiation plant at Ruth Lake. The Knob Lake Property is 100% owned by Anteros Metals and consists of three contiguous mineral claim units, covering an area of 75 hectares that is road accessible from Schefferville.
The Labrador Trough is a Proterozoic orogenic iron belt that extends from the eastern margin of Ungava Bay southwards to Labrador City and has been mined for iron ore since 1954. The principal iron formation unit of the area, responsible for world-class iron-ore deposits, is the sedimentary subaqueous Sokoman Formation of the Knob Lake Group, a 30 to 350 metre continuous stratigraphic unit along the length of the Labrador Trough. Deposition of the Sokoman Formation resulted from oxidation of upwelling waters rich in reduced iron in conjunction with continual transport of the iron towards a shallow-water, oxidizing environment of the sedimentary platform.
The Lower Iron Formation (a subunit of the Sokomon Formation) consists mostly of magnetite-poor carbonate–silicate facies. This grades upward into the Middle Iron Formation, an oxide facies marked by abundant coarse-grained hematite and/or magnetite and sugary-textured quartz. These oxide-rich beds are the most economically important with the iron-rich layers and lenses commonly containing more than 50% hematite and magnetite. The Upper Iron Formation is another oxide-poor, carbonate–silicate facies rock.
The Labrador Trough is a Proterozoic orogenic iron belt that extends from the eastern margin of Ungava Bay southwards to Labrador City and has been mined for iron ore since 1954. The principal iron formation unit of the area, responsible for world-class iron-ore deposits, is the sedimentary subaqueous Sokoman Formation of the Knob Lake Group, a 30 to 350 metre continuous stratigraphic unit along the length of the Labrador Trough. Deposition of the Sokoman Formation resulted from oxidation of upwelling waters rich in reduced iron in conjunction with continual transport of the iron towards a shallow-water, oxidizing environment of the sedimentary platform.
The Lower Iron Formation (a subunit of the Sokomon Formation) consists mostly of a magnetite-poor carbonate–silicate facies. This grades upward into the Middle Iron Formation, an oxide facies marked by abundant coarse-grained hematite and/or magnetite and sugary-textured quartz. These oxide-rich beds are the most economically important with the iron-rich layers and lenses commonly containing more than 50% hematite and magnetite. The Upper Iron Formation is another oxide-poor, carbonate–silicate facies rock.
The Knob Lake property is centered over the Upper, Middle, and Lower Iron Formations of the Sokoman Formation, a Superior-type iron formation. An especially iron-rich silica-chert horizon of the property (between the middle and lower iron formations) exhibits direct shipping ore (DSO) characteristics, grading over 60% Fe.
The Knob Lake Property deposit remains open to expansion along iron-rich stratigraphy, including along strike.