Thor Project

youmightbeinsaskatchewan 27 Comments

Tisdale’s going to need a new slogan.

The deposit is 60 feet down — and 300 feet in depth.

27 Replies to “Thor Project”

  1. For God’s sake don’t tell the federal Liberals about this or they will shut it down yesterday, or at least regulate it to death.

    1. Don’t forget to ask THE FILTHY LIBERALS for permission to do everything.
      They will never let you remove this from their land. And it is their land since nobody else will stand against these Pieces of Human Shit FILTHY LIBERALS

  2. I lived in that area for a few years, it’s a pretty part of the province. The Tisdale-Melfort-Nipawin triangle is also a place that will benefit from stable, high paying mining jobs. Good for them. Must admit i was hoping a diamond mine would be announced in the melfort region.

      1. Kinda. The technology certainly produces very nice diamonds and the industry had high hopes. Unfortunately, the lab diamonds don’t hold their value. The price for lab diamonds has dropped by something like 80% in recent years. Very good value for costume jewelry though.

        The only diamonds that aren’t suffering right now are large (1ct plus), high quality natural diamonds. I suspect Russia has been mass selling their small diamonds to fund their war and that has flooded the market for smaller diamonds but that’s just my guess. Could be changing consumer trends too, of course.

        2. diamonds have a finger print. man made ones likewise no doubt. mebbe theyre all the same,
          same difference then.

  3. Please Sask. join Alberta in the independence movement … lest you remit the vast majority of that newly discovered $$$$ to Ottawa

  6. This is a Hopium discovery …. read their disclaimer https://www.canadianenergymetals.com/disclaimer
    Almost a 1,000 sq miles and 157 holes drilled. Also it is classified as a “Resource” not reserves. There are no economics or feasibility study … again it is Hopium not Aluminum 😉
    When you take an Economic Geology course the key take away is that there is oil and gold etc everywhere but if you have to spend $10 million bucks to find $1 million bucks worth of Aluminum it isn’t a mine.
    Lots of folks never learn this simple lesson and fall for the most stupid mining promotions … shades of Bre-X!!

    2. When you take an economic geology course you don’t study gold and oil together – different disciplines. But while we’re on Geology 101 the material they are drilling is very consistent hole to hole. This is how they got 50 Bt with only 157 drillholes. This is a huge find. As they infill the drilling to go from Measured and Indicated Resources to Reserves it seems unfathomable that the infill drilling will be different. It’s not like a gold vein.

      From their news release …

      “This PEA confirms that the Thor Project is a possible game changer for North America’s aluminum supply chain,” said Christopher Hopkins, President & Chief Executive Officer, CEM. “In our world, anything that moves products, transmits power or stores energy uses aluminum. We have established a world-leading, secure source of alumina right here in Saskatchewan. Our next focus is to engineer a demonstration facility while moving Thor towards commercialization.”

      The PEA mineral resource estimate includes a Measured and Indicated Resource of 49.5 billion tonnes, containing 6.8 billion tonnes of alumina, with an Inferred Resource of 86.6 billion tonnes. This estimate is confined to 600 square kilometres (230 square miles), representing 23% of the main property.

      Through CEM’s ongoing piloting efforts, the Company has successfully produced two types of alumina: 3N (99.9% – low soda) Chemical Grade Alumina (CGA) and 4N (99.99%) High Purity Alumina (HPA). Additional metallurgical and process testing on the polymetallic nature of this significant deposit is underway, specifically with respect to Smelter Grade Alumina (SGA), Scandium, and Vanadium.

      The financial results of a PEA are important as they provide an initial economic analysis that informs the potential viability of mineral resources based on drilling and metallurgical test results. CEM’s PEA financial model contemplates a surface mining and processing operation with an average throughput of 16.5 million tonnes per year of ore feed, supporting alumina production of 1.8 million tonnes per year over a 25-year project life.

      Economic assumptions include initial capital expenditures of US$6.3 billion, operating costs of US$1.6 billion per year, and product price assumptions of US$5,000 per tonne for CGA and US$25,000 per tonne for HPA. The modelled internal rate of return (IRR) is 72% (after-tax) and net present value of cash flows is US$72.3 billion (discounted at 10% after-tax).

      With a substantial Measured and Indicated Resource, the PEA highlights Thor as a deposit of major scale within the alumina sector. Based on current projections and assumptions more fully described in the PEA, if developed and commercialized, the Thor Project has the potential to create an entirely new processing and value-added industry for Saskatchewan and North America. The construction and operations could support high-paying jobs, royalty and tax revenues, and spur regional economic growth for decades.

      Congratulations Saskatchewan. This could be huge. As Scar says below, imagine a nuclear power plant (with Saskatchewan uranium) powering a smelter that produces aluminum. Why Quebecers will be lining up for miles for their transfer payments 🙂

      ‍

      1. Mining is hot in Saskatchewan in addition to our existing mining there’s the big Jensen potash mine opening soon and a medium sized copper (plus a bit of silver) mine well into development. Saskatchewan consistently ranks in the top 3 for international mining jurisdictions.

        Years ago I read that there was a lot of undiscovered mining plays in Saskatchewan because not much exploration was conducted after the provincial NDP nationalized many industries in the mid 20th century. Unverified but interesting.

  7. Don’t be third world, smelt it in Saskatchewan. The only problem is you need cheap electricity. A secondary project could be building a dozen or two dams on the Peace, Athabasca, and Slave Rivers plus more in Northern Saskatchewan and Manitoba. They won’t be cheap off the bat but they will last hundreds of years. Because they’re the prairie provinces, dams would never be allowed by the Liberals because it would be imagined they are navigable waters.

    1. There are 2 saskpower hydroelectric stations north of Tisdale – EB Campbell and Nipawin hydro. Further north there’s hydro at Island Falls in the NW and Athabasca in the NE. Coteau Creek hydro is in central sask. Would be surprised if any new large hydro stations are built in the province, unfortunately.

      The Saskatchewan Research Council’s work on very small nuclear reactors and micro reactors might be a feasible solution.

      1. SRC Nuclear

        SRC is pursuing the licensing and demonstration of the first nuclear microreactor in Saskatchewan.

        Northern and remote areas of the province that are at the edge of the power grid or off-grid experience energy challenges, such as frequent brown outs or insufficient power for industry.

        https://www.src.sk.ca/src-nuclear

        IIRC, they were planning on having one built and operatiing by 2029.

  8. I think we all know what this means. Indian lands within earshot of let’s say a 12 ga. being fired from the discovery site will automatically be granted a big slice of the action. No deal…roadblocks it shall be.
    Says so in the treaty.

  9. “Putting that together: Thor is conceptually attractive but still high‑risk and speculative, and its eventual feasibility will hinge less on the sheer size of the resource and more on whether it can: prove the process at a demonstration scale, secure long‑term cheap-enough power and water, and lock in premium markets or strategic partners that are willing to pay above the global alumina commodity price for North American security of supply”
    Full appraisal:
    https://www.perplexity.ai/search/there-was-a-recent-aluminum-di-mb6_tRHxS8OIzcQjUqS1dg#1

    1. It is difficult to compete when offshore companies (ahem, China) are digging this stuff up in Guinea and shipping it to smelters around the world. Saskatchewan could set a floor price for this product but Canada might not support an in-Canada solution like Trump would in the USA. Also the capital costs are $6.9 billion. Wow! We would have to sell Newfoundland.

  11. There is iron ore in the Peace River country of Alberta. I see a future industrial power house.

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