Iron Ore Resource for Sale in Ontario, Canada

This listing presents a significant iron ore resource property located in the Onaman Iron Range of Ontario, Canada. The property encompasses approximately 1,155 hectares (11.5 km2) across 6 block claims, totaling 71 mining claim units. It holds an estimated 280 million tons of iron ore with an average grade of 28% Fe. The deposits are identified as Algoma-type iron formations, specifically Banded Iron Formation (BIF), consisting of magnetic rich bands inter-bedded with jasper and greywacke. Metallurgical testing conducted in 1961 on mineralization from a test pit indicated a potential to produce a concentrate grade of 66% or better with low silica content (7% or less) and high recovery rates (90-94%). The resource is categorized into approximately 95.1 million tons in the indicated category and 185.1 million tons in the inferred category. While the resource is not currently NI 43-101 qualified, an offer from a reputable consultancy to upgrade it is available. A full independent valuation report from 2022 is accessible upon signing an NDA. The asset is owned by Greenbank Capital Inc., a Canadian listed investment company. Sale conditions include consideration for shares in publicly listed companies or Joint Ventures/Earn-ins.