Lac Le Moyne Project

OVERVIEW

The Lac Le Moyne Carbonatite Project is located in northeastern Quebec near the community of Kuujjuaq, the Project consists of 86 map staked claims totalling approximately 4,025 ha (9,946 acres), situated several kilometers to the northwest of Commerce Resources Corp.’s Eldor Carbonatite Complex.

Highlights

  • Government mapping identified several exposures of carbonatite.
  • Regional radiometric surveys show coincident anomalism with carbonatite exposures.
  • Situated within 10 km to the northwest of the Eldor Carbonatite, which is host to significant Nb-REE mineralization.
  • Located approximately 110 km due south of the community of Kuujjuaq, Quebec.

Lac Le Moyne Carbonatite Project, Quebec

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HISTORICAL RESULTS

Historical Results

The Lac Le Moyne Project has little documented historical exploration and no known exploration specifically for carbonatite-related mineralization. Multiple carbonatite outcrops were previously identified by government geologists conducting regional mapping programs throughout the Labrador Trough.

The Lac Le Moyne carbonatite outcrops, which are inclusive to the Property, were originally mapped during the late 1970’s. Carbonatite is a relatively rare rock type; however, is also the primary host to rare earth element (“REE”) and niobium production globally. Just to the south of the Project is the Ashram Rare Earth and Fluorspar Deposit, held by Commerce Resources Corp. on its Eldor Property, with a mineral resource of 73.2 Mt at 1.89% rare earth oxide (“REO”) and 6.6% CaF2 indicated, and 131.1 Mt at 1.91% REO and 4.0% CaF2 inferred (Commerce, 2024). Additionally, recent exploration at Commerce’s Mallard Prospect, located proximal to the Ashram Deposit, returned a drill intercept of 122.5 m of 0.62% Nb2O5 (Commerce, 2024).

The Company cautions that past results or discoveries on adjacent properties (i.e. Eldor) may not necessarily be indicative to the presence of mineralization on the Company’s properties (i.e. Lac Le Moyne).

Lac Le Moyne Carbonatite Project, Quebec – Total Field Magnetics.

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WHAT IS A CARBONATITE?

How is it Formed?

  • Deep-seated magmatic intrusions
  • Rich carbonate mineral makeup, typically appearing as intrusive plugs or in forms like dykes, sills, breccias, or veins
  • Enriched with elements like niobium, rare earth elements, phosphorus, tantalum, scandium, and titanium
  • Carbonatites are relatively rare in geology, with notable sites including Araxá, Bayan Obo, Mt. Weld, Mountain Pass, and Palabora
  • Of the approximately 600 known carbonatites, about 10% mined
Economic Importance

  • Produce essential elements like niobium and rare earth elements, crucial for high-tech industries.
  • Carbonatite production drives economic development in energy, defense, and electronics sectors.