Mining Updates

High-Grade Iron Ore Deposits at Mary River north Baffin Island, Nunavut

Wednesday, November 21, 2018 - 10:40 to 10:59 Theatre 2


T. Iannelli (Presenting)
Baffinland Iron Mines Corporation

J. Hey
Baffinland Iron Mines Corporation

The Mary River area on northern Baffin Island is emerging as a major high-grade iron ore camp with several variably delineated deposits, the largest in excess of 600 mt of 66% Fe. Hosted within a prominent Algoma-type banded iron formation (BIF), the deposits are preserved and thickened within fold belts of variable scale. The direct shipping ores (DSO) are characterized by exceptionally high Fe grades, low deleterious element content, and a high lump potential. The ore requires no processing, only crushing and screening.

First production occurred in August 2014 at Deposit No. 1. Delineation drilling continues, and exploration drilling has resumed at Deposits 2 and 3. The ores are being shipped to the European and Japanese steel industries and are marketed as Lump (DSP) and Fine (SSF) products. During 2017, 2.9 mt of DSP (@68.1% Fe) and 1.2 mt of SSF (@67.1% Fe) were shipped. Production in 2018 is anticipated to be ~6 mt of DSO.