South Voisey’s Bay (SVB) Project

  • Location: Newfoundland & Labrador, Canada
  • Project Type: Nickel-copper-cobalt 

About this Project

Buchans holds a 100% interest in its South Voisey’s Bay property in Labrador, located 80 km south of Vale’s Voisey’s Bay nickel-copper-cobalt mine. Buchans 43-claim (10.75 km2) property covers portions of a large mineralized troctolite intrusion (Pants Lake Plutonic Suite) and mineralized troctolitic gabbros  that are similar in age and composition to the Voisey’s Bay mine deposits.

Buchans controls claims covering a deep untested geophysical anomaly (AMT) that occurs in an ideal setting for magmatic sulphides adjacent to historic high-grade intercepts drilled by Teck and Donner Resources in 1997. The anomaly represents a high-priority, drill-ready target and is being highlighted in our pursuit of possible JV partners and/or financing.

Previous explorers (Teck) at identified several prospects within Buchans’ property, including drilled intercepts (core length) of 1.1 m of 11.9% Ni, 9.6% Cu, and 0.43% Co, 0.65 m of 1.93% Ni, 1.07% Cu and 0.26% Co, and 15.7 m averaging 1.13% Ni, 0.78% Cu and 0.20% Co drilled in the late 1990s.

Buchans’ South Voisey’s Bay property is surrounded by Fjordland Exploration Inc.’s (FEX.TSXV) South Voisey’s Bay Property that until April 17, 2023, was joint ventured to Ivanhoe Electric Inc. (“IVNE”), a privately-owned US corporation led by Chairman and CEO Robert Friedland. With IVNE having abandoned the joint venture, Fjordland own a 75% interest in the project while Commander Resources owns 25%. Fjordland can still increase their interest in the project to 100% by expending a further $5 million on the project by October 31, 2024.

Buchans’ principal target consists of an untested Audiomagnetotellurics (“AMT”) anomaly adjacent to high-grade Ni-Cu-Co drilled intercepts. The target is underlain by a particular lobe of mineralized troctolite (“Black Troctolite”) that is host to the highest grade nickel sulphides in the entire complex.

Qualified Person

P. Moore (M.Sc., P.Geo.) Vice President Exploration of Buchans Resourcres Limited is the Qualified Person for the Company as defined by National Instrument 43-101 and has approved this technical disclosure.