- MetalQuest (TSXV:MQM) has acquired the ~52,000-acre Ring of Fire Project 1, a district-scale project in Northern Ontario’s Ring of Fire, one of Canada’s richest regions for the mining of critical metals
- MetalQuest Mining is developing the Lac Otelnuk project in Quebec, one of the largest iron ore projects in North America
- The critical metals stock has added 340 per cent year-over-year
MetalQuest (TSXV:MQM) has acquired the ~52,000-acre Ring of Fire Project 1, a district-scale project in Northern Ontario’s Ring of Fire, one of Canada’s richest regions for the mining of critical metals, including multiple advanced nickel, chromite, titanium-vanadium and volcanogenic massive sulphide (VMS) deposits.
ROF-1 is only 10 kilometres from the prospective Black Thor chromite deposit, the McFaulds VMS trend, as well as Wyloo Metals’ Eagle’s Nest nickel, copper and platinum group elements deposit, which is expected to yield annual production of 15,000 tons of nickel, 6,000 tons of copper, 70,000 ounces of palladium and 22,000 ounces of platinum. Wyloo is also planning a battery‑materials facility in Sudbury to support the Canadian EV supply chain.
ROF-1 boasts a technical review confirming potential for VMS-style mineralization, untested conductor corridors, suggestive magnetic/intrusive architecture, as well as targets analogous to nearby deposits.
Additionally, historic drilling substantiates an active polymetallic system, including a highlight of 2 metres grading 0.86 per cent zinc, 0.03 per cent lead, 0.13 per cent copper and 3.4 grams per ton of silver.
According to Wednesday’s news release, MetalQuest intends to assess the project’s geological potential in 2026, including groundwork and preliminary technical modelling, leveraging a new all-season access road into the Ring of Fire expected to be built as soon as August 2026 to further unlock value in the region.
Management commentary
“As chairman and CEO, our stated corporate objective is to become one of the largest project exploration and developing companies in the Ring of Fire region,” Harry Barr, chief executive officer of MetalQuest, said in a statement. “Over my career, our board of directors and our technical and financial teams have consistently delivered on this objective across multiple international jurisdictions, and we intend to do the same here. The ROF-1 acquisition is the foundation of a broader multi-project strategy we intend to execute over the coming months.”
About MetalQuest Mining
MetalQuest Mining is developing the Lac Otelnuk project in Quebec, one of the largest iron ore projects in North America.
MetalQuest Mining stock (TSXV:MQM) last traded at C$0.22 and has added 340 per cent year-over-year.
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