ENVIROGREEN MANUFACTURING PROCESS

BlackRock is branding its paradigm shift in thinking and design for production of carbon neutral high purity metals and materials utilizing proven processes to meet the challenge of creating environmentally friendly metallic products with zero technology risk.

Studies have been completed outlining our plan to produce 900,000 tonnes of magnetite concentrate at 62% Fe, 1.4% V2O5 and 8% TiO2. Polymetallic VTM ore is very valuable compared to standard iron ores because they can contain several recoverable metals. If an ilmenite circuit is added to our process this provides additional revenue and market penetration. The BlackRock studies demonstrate that it may be possible to add approximately 200,000 tonnes of ilmenite concentrate (46% TiO2) to the mill complex.

Studies demonstrate that a second transformation of the materials can produce 525,000 tonnes of high quality pig iron and approximately 5,000 tonnes of ferrovanadium (FeV80). Engineering studies of this operation, supported by extensive bench and pilot scale testing, were recently completed with very positive results; BlackRock can emerge as the global low cost producer in each of its product lines by virtue of its balanced polymetallic business plan.

Environmental permitting has been completed for the mine and concentrator, and a certificate of authorization awarded by the government. A life of mine impact benefits agreement is in place with the Cree Nation. All authorizations are also in place for the required 26 km of power transmission lines by Hydro-Quebec to connect to the greenest electrical supply in the world. Detailed engineering work for the second transformation plant is now underway with construction to commence in the summer of 2018.

The BlackRock project is blessed with excellent existing infrastructure and nearby municipalities with a strong desire to develop this project which is located in a territory designated for mineral extraction by the Government. The area is serviced by CN rail line passing just 26 km from the concentrator and from there to a deep sea port approximately 350 km to the southeast with available capacity and an ability to handle all vessel types.

BlackRock Metals plans to achieve all of the above with standard commercial processes that pose no added technological or undue execution risk to the business plan and has embraced the challenge to produce such metals on a low carbon basis with the goal of being a near zero CO2 emissions operation.

The BlackRock Project will be powered by hydroelectric power on favourable commercial terms which enables our ability to utilize modern electric furnaces for metals transformation. By utilizing standard machinery, very clean inputs and modern process engineering we plan to minimize the environmental footprint of our operations –this is the essence of BlackRock’s Envirogreen Process.