Not much on the web site as to the Strange Lake resource so asked CoPilot. How does it compare to Nechalacho?
The Strange Lake rare earth deposit is a rare and unique mineral occurrence in northern Quebec, Canada. It was discovered in 1979 by Quest Rare Minerals Ltd., a Canadian exploration company. The deposit is hosted by a peralkaline granite intrusion that contains high concentrations of zirconium, niobium, yttrium, and rare earth elements (REEs). The deposit also contains unusual minerals, some of which are essentially unique to this site, such as eudialyte, britholite, gittinsite, and wöhlerite.
According to the latest resource estimate, the Strange Lake deposit has a measured and indicated resource of 52.4 million tonnes at 1.13% total rare earth oxides (TREO), 0.64% ZrO2, 0.18% Nb2O5, and 0.05% Y2O3, and an inferred resource of 36.9 million tonnes at 1.05% TREO, 0.60% ZrO2, 0.17% Nb2O5, and 0.05% Y2O33. The deposit also has a high proportion of heavy rare earth oxides (HREO), which are more valuable and scarce than light rare earth oxides (LREO). The HREO/TREO ratio of the deposit is 23.9%, which is one of the highest among the known rare earth deposits in the world.
The economic evaluation of the project, based on the pre-feasibility study completed in 2014, showed that the project has a net present value (NPV) of $1.44 billion, an internal rate of return (IRR) of 16.4%, and a payback period of 4.1 years, assuming a base case scenario of a 25-year mine life, a 1.4 million tonnes per year processing plant, and a capital cost of $1.33 billion. The project also has a positive social and environmental impact, as it would create jobs, generate revenues, and use environmentally friendly technologies.
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