1/24/22, 12:18 PM M3 Metals Provides Update on the Block 103 Iron Ore Project
1/24/22, 12:18 PM M3 Metals Provides Update on the Block 103 Iron Ore Project
https://www.newsfilecorp.com/release/111275 1/3
M3 Metals Provides Update on the Block
103 Iron Ore Project
Vancouver, British Columbia--(Newsfile Corp. - January 24, 2022) - M3 Metals Corp. (TSXV: MT) (FSE: X0VP) ("M3 Metals"
or the "Company") is pleased to announce it has completed a LiDAR and Orthophoto survey on its 100% owned Block 103
Iron Ore Project (the "Property") in Newfoundland and Labrador, Canada. The primary objective of the survey was to
acquire a bare earth digital terrane model (DTM) and orthophoto data to aid in its continued exploration for DSO and
Taconite style mineralization on the Property.
The bare earth DTM model (see Figure 1 below) digitally removed the surficial vegetation from the LiDAR (point cloud)
data and resulted in a model of the ground and outcrops that is accurate to 30cm. Because the iron rich rocks on the
Property occur in stratigraphic (layered) rock units, the bare earth DTM greatly enhances the property wide geological
mapping and provides a new perspective on the deformation and fault structures. These structural features can be
spatially related to the enrichment or formation of DSO style mineralization and can be observed by bends (or folds) and
sharp o sets (faults) of the regularly occurring layered geological units.
The survey confirmed that the high-grade DSO style mineralization (including 69.75% Fe2O3 and 16.45%SiO2 over 6.1
metres in hole DDH103-064) occurs within a structurally complex area. Additional work is being planned for the 2022 field
season to test extensions of the high-grade DSO style mineralized intercept encountered in hole DDH103-064 beginning at
26.82 metres depth. Due to the near surface but covered location of the mineralized unit, drilling is required to properly
test its total extent. Continued analysis of the newly acquired data may also result in the identification of additional areas
that share similar structural traps which could also have secondary iron enrichment sourced from the extensive iron
formations on the Property.
The Company also continues to explore business opportunities including communicating with potential partners or buyer
to advance the 7.2 billion tonne taconite iron ore resource at 29.2% total Fe (see news release dated Feb 4, 2013).
1/24/22, 12:18 PM M3 Metals Provides Update on the Block 103 Iron Ore Project
https://www.newsfilecorp.com/release/111275 2/3
(https://orders.newsfilecorp.com/files/5509/111275_1594fea7b405fa1d_001full.jpg)
Figure 1. Block 103 LiDAR DTM Map. (Link to detailed Block 103 Lidar DTM image here)
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5509/111275_1594fea7b405fa1d_001full.jpg
(https://orders.newsfilecorp.com/files/5509/111275_1594fea7b405fa1d_001full.jpg).
DSO is currently being mined by Tata Steel Minerals Canada ("TSMC") in multiple areas surrounding the Property which is
being processed (or beneficiated) at TSMC's DSO facility located 6 kilometres from the Block 103 property. Once
beneficiated, the product is loaded on rail at site and sent to a port in Sept-Îles for shipping to consumers worldwide.
TSMC is processing iron ore material with greater than 50% total Fe and less than 18% SiO2 as a cut-o for the material at
their facility. The Company believes there is potential to identify DSO style mineralization on the Property suitable for
processing at TSMC adjacent and currently operating facility.
Block 103 is located near well-established infrastructure in the heart of the Labrador Trough, Newfoundland and Labrador,
approximately 30 km northwest from the town of Sche erville, Quebec and 1,200 kilometres by air northeast of Montréal,
QC. Previous work by the Company includes geological mapping, geophysical surveys and diamond drilling programs.
Total drilling now stands at 115 drill holes aggregating over 28,000 metres. Two zones of mineralization have been defined
on the Property; namely the Northwest Zone and the Greenbush Zone where the focus of the mineral resource estimate
has been on the Greenbush Zone.
Disclosure
Adrian Smith, P.Geo., is a QP as defined by National Instrument 43-101 for the above-mentioned project. The QP is a
member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEG) and is a
registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed
above.
ABOUT M3 METALS CORP.
1/24/22, 12:18 PM M3 Metals Provides Update on the Block 103 Iron Ore Project
https://www.newsfilecorp.com/release/111275 3/3
M3 Metals Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic
development of mineral properties in North America. For additional information please visit M3 Metals website at
www.m3metalscorp.com (https://www.newsfilecorp.com/redirect/y3M7qTv7Pn). You may also email
[email protected] (mailto:[email protected]) or call investor relations at (604) 669-2279.
M3 METALS CORP.
"Adrian Smith"
Adrian Smith, President
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the
words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or
expressions identify forward-looking statements or information. These forward-looking statements or information may
relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources,
regulatory or government requirements or approvals, the reliability of third party information, continued access to
mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration
costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or
information. Such statements represent the Company's current views with respect to future events and are necessarily
based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently
subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many
factors, both known and unknown, could cause results, performance or achievements to be materially di erent from the
results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The
Company does not intend, and does not assume any obligation, to update these forward-looking statements or
information to reflect changes in assumptions or changes in circumstances or any other events a ections such statements
and information other than as required by applicable laws, rules and regulations.
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