- Scandium Canada (TSXV:SCD) is announcing a value-accretive increase in estimated mineral resources at its Crater Lake project in Quebec, the only primary source of scandium in North America
- Indicated resources rose by 38 per cent, while inferred resources added 31 per cent
- Scandium Canada intends to bring the world’s leading primary source of scandium into operation
- Scandium Canada stock has given back 75 per cent year-over-year
Scandium Canada (TSXV:SCD) is announcing a value-accretive increase in estimated mineral resources at its Crater Lake project in Quebec, the only primary source of scandium in North America.
The new NI 43-101-compliant estimate for the TG Zone details indicated resources of 16.3 million tons grading 277.9 grams per ton (g/t) Sc2O3 and inferred resources of 20.9 million tons grading 271.7 g/t Sc2O3, including the presence of magnet rare earth oxides (Nd, La, Pr, Dy, Tb) in both resource categories to be explored through future drilling. These figures take into account 2024 drilling results and represent 38 and 31 per cent increases, respectively, compared to a 2023 mineral resource estimate.
Using a net smelter return cut-off value of C$205.54 per ton for potential open-pit extraction, the estimate values mineralization between C$369-379 per ton, driven by scandium‘s diverse use-cases across electric motors, powders for 3D printing, airframes, heat exchangers and in high-quality aluminum alloys.
According to its April 2025 investor presentation, Scandium Canada estimates that demand for its target commodity will increase exponentially over the next 15 years, granting it the potential to play an essential role in the North American supply chain.
Mineralization at Crater Lake remains open laterally and at depth, suggesting untapped resources.
Leadership insights
“We are indeed very pleased by this new mineral resource estimate for the TG Zone, now comprised of what was previously referred to as the Northen Lobe and the South lobe,” Guy Bourassa, Scandium Canada’s chief executive officer, said in a statement. “The 2024 drilling campaign confirmed that the TG Zone should be considered and worked as a unique deposit extending the TG Zone by over 250 m to the south. It certainly is positive as we continue to advance work required to complete a pre-feasibility study on the project. The next step in the project is the release of the results of the 500 kg metallurgical pilot recently completed at the SGS Lakefield facility. We continue to have discussions with potential strategic investors as well as off-takers of scandium, aluminum-scandium alloys and rare earth elements and are pleased with the interest we are getting. A project update will be issued shortly.”
Crater Lake project resource estimate
| Category | Cut-off NSR ($/t) | Tonnage (Mt) | NSR total ($/t) | Sc2O3 (g/t) | Dy2O3 (g/t) | La2O3 (g/t) | Nd2O3 (g/t) | Pr2O3 (g/t) | Tb4O7 (g/t) |
| Indicated | 205.54 | 16.3 | 379 | 277.9 | 67.3 | 615.7 | 604.9 | 162.3 | 11.8 |
| Inferred | 205.54 | 20.9 | 369 | 271.7 | 66.5 | 609.1 | 599.1 | 160.7 | 11.6 |
Mineral resource estimate comparison
| 2023 | 2025 | Change % | 2023 | 2025 | Change % | ||
| Indicated | Inferred | ||||||
| NSR Cut-off | (C$/t) | 110.1 | 205.54 | 110.1 | 205.54 | ||
| Tonnage | (Mt) | 11.8 | 16.3 | 38% | 15.9 | 20.9 | 31% |
| NSR Total | (C$/t) | 426 | 379 | -11% | 414 | 369 | -11% |
| Sc2O3 | (g/t) | 275.9 | 277.9 | 1% | 268.4 | 271.7 | 1% |
| Dy2O3 | (g/t) | 66.4 | 67.3 | 1% | 66.1 | 66.5 | 1% |
| La2O3 | (g/t) | 605.5 | 615.7 | 2% | 606.9 | 609.1 | 0% |
| Nd2O3 | (g/t) | 596.9 | 604.9 | 1% | 595.6 | 599.1 | 1% |
| Pr2O3 | (g/t) | 160.1 | 162.3 | 1% | 159.8 | 160.7 | 1% |
| Tb4O7 | (g/t) | 11.7 | 11.8 | 1% | 11.6 | 11.6 | 0% |
About Scandium Canada
Scandium Canada intends to bring the world’s leading primary source of scandium into operation, facilitating the development of aluminum-scandium alloys to meet modern industry’s demand for greener, higher-performance materials.
Scandium Canada stock (TSXV:SCD) is unmoved by the news, trading at C$0.015 per share as of 9:54 am ET. The stock has given back 75 per cent year-over-year.
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(Top image: Scandium Canada)
