Vertical Exploration secures nod for Canada wollastonite project
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Vertical Exploration secures approval for Canada wollastonite project

20 Sep 2021 (Last Updated September 20th, 2021 11:55)

The vendor will have a 2% net smelter royalty and a $5/t royalty for the first one million tonnes from the project.

Vertical Exploration has obtained full quarry permitting approval from Canada’s Quebec government for its St-Onge Wollastonite project, through its operations partner Magnor Exploration.

Located 90km north-west of Saguenay in Québec’s Saguenay-Lac-St-Jean region, the project comprises 26 map-designated cells that cover a 1,465ha surface area.

With all quarry permits received, Vertical Exploration and Magnor intend to proceed with quarry operations and production of the St-Onge Wollastonite project.

Vertical also plans to complete the final payment instalment of its option agreement to acquire a 100% ownership in the project from the vendor.

Upon completion of the transaction, the vendor will have a 2% net smelter royalty and $5/t royalty for the first one million tonnes from the project and a $1/t royalty for the remaining tonnage.

Vertical Exploration president/CEO Peter P Swistak said: “With permitting in place, we are now in an excellent position to quickly move forward with the production, marketing and sales of our premium Wollastonite.

“The North American agricultural and home garden markets are in need of an environmentally sound natural fertiliser solution, and we believe our premium Wollastonite product will help fill that growing demand.”

Over the past 18 months, the project has secured official quarry permits from various ministries in the Quebec government.

These permits include a Certificate of Authorization (CA) under Section 22 of the Environmental Quality Act from the Quebec Ministry of Environment and Fight against Climate Change (MELCC), and Bail Exclusif pour l’exploitation de substances minérales de surfaces (BEX) 1809 permit the Quebec Ministry of Energy and Natural Resources (MERN).

It also received a permit from MERN for the construction of a building at the mine site for the storage of crushed Wollastonite.