Scandium Canada announces results of a new Mineral Resource Estimate for its Crater Lake project
Scandium Canada announces results of a new Mineral
Resource Estimate for its Crater Lake project
Highlights:
• Scandium Canada’s independent qualified persons report confirms Indicated Resources of
16.3 million tonnes grading 277.9 g/t Sc2O3 and Inferred Resources of 20.9 million
tonnes grading 271.7 g/t Sc2O3 within the TG Zone.
• The TG Zone has been extended by over 250m to the South.
• This new Mineral Resource Estimate represents a 38% increase in total scandium tonnage
for the Indicated Resources category and a 31% increase in total scandium tonnage for
the Inferred Resources category compared to the 2023 Mineral resource report (Press
Release September 14, 2023 - Imperial Mining Announces an Increase of 58% on Indicated
Mineral Resource Estimate for its Scandium-Rare Earth Zone on its Crater Lake project,
Quebec, Canada)
• Determinations of magnet rare earth oxides (Nd, La, Pr, Dy, Tb) were made for both
resource categories.
• Using a Net Smelter Return (NSR) cut-off value of $CAN 205.54/t for potential open pit
extraction method, the value of the mineralization was determined to range between
$CAN369-379/t.
• Mineralization remains open laterally and at depth, demonstrating the potential to increase
the mineral resource with additional drilling.
MONTREAL, QUEBEC April 3, 2025 – Scandium Canada Ltd. ("Scandium Canada") (TSX
VENTURE: SCD) is pleased to announce that it has received the results of a new NI 43-101
mineral resource estimate for the TG Zone on its Crater Lake property, taking into account the
results of the 2024 diamond drilling campaign. The estimate was completed by Norda Stelo Inc. of
Quebec, Quebec. The effective date of the mineral resource estimate is April 02, 2025. The report
will be filed on SEDAR on or before May 16, 2025.
“We are indeed very pleased by this new mineral Resource Estimate for the TG Zone, now
comprised of what was previously referred to as the Northen Lobe and the South lobe” said Guy
Bourassa, Scandium Canada’s CEO. “The 2024 drilling campaign confirmed that the TG Zone
should be considered and worked as a unique deposit extending the TG Zone by over 250m to the
South. It certainly is positive as we continue to advance work required to complete a Pre-Feasibility
study on the project. The next step in the project is the release of the results of the 500kg
metallurgical pilot recently completed at SGS Lakefield facility. We continue to have discussions
with potential strategic investors as well as off-takers of scandium, aluminum-scandium alloys and
rare earth elements and are pleased with the interest we are getting. A project update will be issued
shortly.”
RESOURCE ESTIMATE TABLE
Category Cut-off
NSR ($/t)
Tonnage
(Mt)
NSR
total
($/t)
Sc2O3
(g/t)
Dy2O3
(g/t)
La2O3
(g/t)
Nd2O3
(g/t)
Pr2O3
(g/t)
Tb4O7
(g/t)
Indicated 205.54 16.3 379 277.9 67.3 615.7 604.9 162.3 11.8
Inferred 205.54 20.9 369 271.7 66.5 609.1 599.1 160.7 11.6
Mineral Resource Estimate Notes:
1. The independent and qualified persons for the mineral resource estimate, as defined by NI 43
101, are Marina Iund, P.Geo. and Simon Boudreau, P.Eng., both of Norda Stelo Inc. The
effective date of the estimate is April 2, 2025.
2. These mineral resources are not mineral reserves, as they do not have demonstrated economic
viability. The mineral resource estimate follows current CIM definitions and guidelines.
3. The results are presented in situ and undiluted and considered to have reasonable prospects of
economic viability.
4. The estimate encompasses one mineralized domain using the grade of the adjacent material
when assayed or a value of zero when not assayed.
5. High-grade capping supported by statistical analysis was done on raw assay data before
compositing and established for Sc2O3 (850 g/t), La2O3 (2230 g/t), Pr2O3 (890 g/t), Nd2O3
(2200 g/t), Dy2O3 (230 g/t) and Tb4O7 (50 g/t).
6. The estimate was completed using a sub-block model in LeapFrog Edge 2024. 1 (“Edge”) with
user block size of 5m x 5m x 5m and minimum block size of 1.25m x 1.25m x1.25m. Grade
interpolation was obtained by ID2 using hard boundaries. Results in NSR were calculated after
interpolation of the individual metals.
7. Bulk density values were applied by lithology (g/cm3 : INTSYN, OLFESYN = 3.13; SYN = 2.7;
POMSYN = 2.77; PEG = 2.65 and OVB = 2.0.
8. The mineral resource estimate is classified as indicated and inferred. The Indicated mineral
resource category is defined with a minimum of tree (3) drill holes within the areas where the
drill spacing is less than 60 m and shows reasonable geological and grade continuity. The
Inferred category is defined with a minimum of two (2) drill holes within the areas where the drill
spacing is less than 120 m and shows reasonable geological and grade continuity. Clipping
boundaries were used for classification based on those criteria.
9. The mineral resource estimate is pit-constrained with a bedrock slope angle of 45° and an
overburden slope angle of 30°. It is reported at a NSR cut-off of 205.54 CA$/t. The NSR cut-off
was calculated using the following parameters: mining cost = CA$8.11; processing cost =
CA$42.36; transportation cost (concentrate transportation from mine site to processing plant):
CA$72.67; G&A = CA$45.38; refining and selling costs = CA$ 117.8; Sc2O3 price =
US$1,500.00/kg; La2O3 price = US$0.2/kg; Pr2O3 price = US$16.3/kg; Nd2O3 price =
US$16/kg; Tb4O7 price = US$221.6/kg; Dy2O3 price = US$62.2/kg; USD:CAD exchange rate
= 1.35; Scandium recovery to high grade scandium oxide product = 77.3%; Rare earth elements
recovery to mixed REE carbonate = 63.0%. The cut-off grades should be re-evaluated in light of
future prevailing market conditions (metal prices, exchange rates, mining costs etc.).
10. The number of metric tonnes was rounded to the nearest thousand, following the
recommendations of NI 43 101 and any discrepancies in the totals are due to rounding effects.
11. The authors are not aware of any known environmental, permitting, legal, title-related,
taxation, socio-political, or marketing issues, or any other relevant issue not reported in the
Technical Report, that could materially affect the Mineral Resource Estimate.
Table 1 describes the difference between the NI 43-101 mineral resource estimate of August 3,
2023 and the new NI 43-101 mineral resource estimate of April 2, 2025, incorporating the 2024
diamond drilling results.
2023 2025 Change
%
2023 2025 Change
% Indicated Indicated Inferred Inferred
NSR Cut-off (C$/t) 110.1 205.54 110.1 205.54
Tonnage (Mt) 11.8 16.3 38% 15.9 20.9 31%
NSR Total (C$/t) 426 379 -11% 414 369 -11%
Sc2O3 (g/t) 275.9 277.9 1% 268.4 271.7 1%
Dy2O3 (g/t) 66.4 67.3 1% 66.1 66.5 1%
La2O3 (g/t) 605.5 615.7 2% 606.9 609.1 0%
Nd2O3 (g/t) 596.9 604.9 1% 595.6 599.1 1%
Pr2O3 (g/t) 160.1 162.3 1% 159.8 160.7 1%
Tb4O7 (g/t) 11.7 11.8 1% 11.6 11.6 0%
DESCRIPTION OF THE TG ZONE
The mineral resource estimate underwent a revision, incorporating data from the most recent
drilling program conducted in 2024. This program consisted of seven drillholes with a cumulative
length of 1,185 meters and was conducted within the Northern Lobe and the extension to the South
Lobe of the TG Zone, as illustrated in Figure 1.
Figure 1 - 2024 Drilling Program
The TG Zone mineralization is characterized by the strong continuity of the iron -rich syenitic
intrusive (Ferrosyenite) sill and dyke system and was drilled over a strike length of 550 m, to a
vertical depth of 200 m. Intersection lengths through the zone varied between 20 m and 210 m,
representing a true thickness of up to 130 m. There was an observed general increase in resource
grade and true thickness to mineralization at depth below the pit-shell. In addition, numerous
Scandium-Rare-Earth resource opportunities remain to be drill-defined on the property and will be
evaluated in future exploration programs.
Figure 2 - Pit-shells 2023 versus 2025 and blocks above NSR cut-off (isometric view)
INDEPENDENT QUALIFIED PERSONS
The Mineral Resource Estimate was prepared for Scandium Canada Ltd. by Norda Stelo Inc. The
Qualified Persons (“QPs”) have reviewed and approved technical information provided on the
Crater Lake TG Zone deposit mineral resource estimate presented in this news release. The
independent QPs who have prepared and supervised the preparation of the technical information
relating to the 2025 Crater Lake Mineral Resource Estimate are:
- Marina Iund, P.Geo., M.Sc., Senior Resources Geologist. Ms. Iund is a professional geologist in
good standing with the OGQ (No. 1525), PGO (No. 3123) and the NAPEG (No. L4431).
- Simon Boudreau, P.Eng., Senior Mine Engineer. Mr. Boudreau is a professional engineer in good
standing with the OIQ (No. 132338).
The technical content in this press release was prepared, reviewed and certified by Eric Kinnan, B.
Sc., P.Geo., an independent consulting Geologist, Member in good standing of Ordre Des
Géologues du Québec (No.00788) and Qualified Person as defined by NI43-101.
ABOUT SCANDIUM CANADA LTD.
Scandium Canada (TSX-V: SCD) is a public company dedicated to promoting critical metals,
mainly scandium. Its ultimate goal is to bring the world's leading primary source of scandium into
operation, enabling the development and commercialization of aluminum-scandium (Al-Sc) alloys
to meet the growing needs of modern industry for lighter, greener, longer -lasting, higher-
performance materials. By leveraging its dedicated Al-Sc alloys subsidiary and the development of
its Crater Lake mining project, the company aims to become the market leader in scandium, while
committing itself to building a more responsible economy through innovation and agility.
Forward-Looking Statements
All statements, other than statements of historical fact, contained in this press release including,
but not limited to, the development of the Crater Lake project and, generally, the above “About
Scandium Canada Ltd.” paragraph which essentially described the Corporation’s outlook,
constitute “forward-looking information" or “forward-looking statements” within the meaning of
applicable securities laws, and are based on expectations, estimates and projections as of the time
of this press release. Forward-looking statements are necessarily based upon a number of estimates
and assumption that, while considered reasonable by the Corporation as of the time of such
statements, are inherently subject to significant business, economic and competitive uncertainties,
and contingencies. These estimates and assumption may prove to be incorrect. Many of these
uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to
differ materially from those expressed or implied in any forward-looking statements and future
events, could differ materially from those anticipated in such statements. A description of
assumptions used to develop such forward-looking information and a description of risk factors
that may cause actual results to differ materially from forward-looking information can be found
in the Corporation’s disclosure documents on the SEDAR+ website at www.sedarplus.ca. By their
very nature, forward-looking statements involve inherent risks and uncertainties, both general and
specific, and risks exist that estimates, forecasts, projections and other forward-looking statements
will not be achieved or that assumptions do not reflect future experience. Forward-looking
statements are provided for the purpose of providing information about management’s endeavors
to develop the Crater Lake project, and, more generally, its expectations and plans relating to the
future. Readers are cautioned not to place undue reliance on these forward-looking statements as
a number of important risk factors and future events could cause the actual outcomes to differ
materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions
and intentions expressed in such forward-looking statements. All of the forward-looking statements
made in this press release are qualified by these cautionary statements and those made in our other
filings with the securities regulators of Canada. The Corporation disclaims any intention or
obligation to update or revise any forward-looking statement or to explain any material difference
between subsequent actual events and such forward -looking statements, except to the extent
required by applicable law. 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.
For additional information, please contact :
Scandium Canada Ltd.
Guy Bourassa
Chief Executive Officer
Phone: +1 (418) 580-2320
Email : [email protected]
Website: www.scandium-canada.com
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