North Atlantic Titanium Corp. (CSE:NATO) (OTC: NATQF) (FSE:Y33) announced the filing on SEDAR+ of an independent technical report prepared in accordance with National Instrument 43-101 for its Everett Titanium Project in Quebec, Canada. The report, prepared by Micon International Limited, provides a modern technical framework for the project and recommends a staged exploration program with an estimated total budget of approximately $13.65 million before taxes, including a $1.40 million contingency.
The Everett Property hosts a laterally extensive titanium-vanadium-phosphate mineralized system within an oxide-apatite noritic gabbro of the Lac Allard magmatic suite. Historical drilling, modern surface verification sampling, analytical verification, and supporting technical studies indicate that the Everett Oxide Body represents a continuous mineralized intrusion extending for at least 2.5 km along strike, with indications that the mineralized trend continues to the north. The mineralized body is interpreted as a single intrusive unit rather than a collection of isolated occurrences.
Results from the 2023-2026 exploration program have validated key aspects of the historical exploration database and improved confidence in the geological interpretation of the Everett Oxide Body. The results support the continuity of the mineralized unit and provide a modern technical framework for further exploration and evaluation. Historical metallurgical investigations and recent technical studies also support the interpretation of a consistent titanium-vanadium-phosphate mineralized system throughout the areas investigated to date.
No current Mineral Resource Estimate has been defined for the Everett Property. The Qualified Persons conclude that the geological continuity, mineralization style, and technical characteristics identified through historical and recent work support continued exploration and evaluation of the Everett Oxide Body.
The recommended two-phase exploration program comprises geological mapping, extensive surface sampling, geometallurgical and metallurgical testing, and up to 25,000 metres of diamond drilling. Phase 1 is proposed to be executed in two sequential stages and is estimated at $3.58 million, or approximately $4.12 million including contingency of $0.54 million. Stage 1 would comprise integrated surface exploration and geometallurgical definition work with an estimated budget of $1.14 million, followed by Stage 2 of approximately 6,000 metres of diamond drilling with an estimated budget of $2.44 million. Subject to favourable results from Phase 1, Phase 2 would be initiated on a success-contingent basis and would comprise additional metallurgical testing, approximately 19,000 metres of Stage 2 diamond drilling, geological and resource modelling, and the preparation of an initial mineral resource estimate. Phase 2 is estimated at approximately $9.53 million, including $0.87 million contingency.
Micon International Limited is a highly skilled multidisciplinary engineering company with service capabilities covering geology, mining, metallurgy, mineral economics and environmental and social studies in the mining, minerals processing and financial sectors. Micon has provided independent consulting services to the world’s mining industry since 1988.
Julien Davy, P.Geo., M.Sc., MBA, Qualified Person as defined by National Instrument 43-101, has read and approved all technical and scientific information contained in the news release.
North Atlantic Titanium is a Canadian publicly traded exploration company focused on advancing the Everett titanium deposit in Quebec. The Company also holds a 100-per-cent interest in the Sleeping Giant South project, located in the Abitibi greenstone belt, approximately 75 kilometres south of Matagami, Que. For more information, visit www.natitanium.com. The original release is available on NEWMEDIAWIRE.
