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Bloom Lake East (Newfoundland & Labrador)

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  • Project Location : Newfoundland
  • Project Country : Canada
  • Date Acquired : February 3, 2017
  • Commodity : Cobalt, Iron

Project Overview

The Bloom Lake East Project is located in Newfoundland & Labrador and is situated alongside the Quebec-Labrador border. The project is prospective for both cobalt and iron mineralization. Part of the tenure comprising the Bloom Lake East Project was held in past under license by Rio Tinto Exploration Canada, Inc. and Consolidated Thomson Iron Mines Ltd.
The Bloom Lake East Project consists of 84 mineral claim cells covering three prospect areas hosting both cobalt and iron prospects. Although the area has been of primary interest for its iron ore, deposits of sulphides also occur in several places. Exposed cobaltite has been discovered immediately west of Bloom Lake at the Walsh Cobalt Prospect which contains high-grade historic grab samples of 6.0% cobalt and 6.5% cobalt respectively. Recent increased market demand for politically-secure cobalt supplies warrants an immediate exploration effort in this historic cobalt-hosting region, which until now has not been examined properly for its cobalt potential, because of robust iron ore markets.
  • Project Overview
  • Project Location
  • From The CEO
  • UAV Magnetic Survey Assessment (Nov. 2018)
  • Immediately adjacent to the Bloom Lake Mine.
  • Cobalt showing identified at Bloom Lake East Project near Green Lake.
  • High-grade historic grab samples of 6.0% and 6.5% cobalt on neighbouring project.
  • Multiple iron showings hosted within Bloom Lake East Project.
  • Limited historic cobalt exploration conducted despite regional showings.
  • Two railways, of which one is a common carrier with available capacity connecting to the Port of Sept-Îles.
  • The Port of Sept-Îles, where a 50Mtpa expansion project is nearing completion at Pointe-Noire to construct a multi-user deep-water dock with two ship loaders and two conveyor lines. The Port of Sept-Îles provides access to European and Asian markets with shipping distances of 5,000 km to Rotterdam, and 22,000 km to Tianjin, China
  • Two major hydroelectric installations provide electricity at C$0.045/kwh, significantly reducing operating costs
  • Expansion options are available on the railway to the Port of Sept-Îles
“The Bloom Lake East Project offers shareholders of Supreme Metals Corp. an exciting opportunity to explore for cobalt in an infrastructure-rich iron ore camp historically overlooked for its cobalt potential.

The known cobalt mineralization in the Green Lake area of our project offers an immediate exploration target. We are fortunate to acquire project ground that was not only held in past by large mining entities like Rio Tinto and Consolidated Thomson but also hosts both cobalt and iron showings in the immediate vicinity of a constructed mine.

The Company feels that the strategic location of the property, bisected by a railway that services the Labrador trough and adjacent to the 3.4 billion metric ton Bloom Lake iron ore mine effectively hedges the company's exploration risk as it looks to explore high grade cobalt occurrences that have not been followed up."

- Bob Komarechka, CEO
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As part of the current exploration program, Supreme Metals Corp. requested that Pioneer Aerial Surveys Ltd. carry out a high resolution airborne magnetic survey using an Unmanned Aerial Vehicle (UAV) on the Bloom Lake East property. The survey area is located approximately 20 km southwest of Labrador City (Figure 1: Location of Bloom Lake area relative to Labrador City, NL.Figure 1). The aeromagnetic survey totalled 418.73 line-km and was completed from August 24th, 2018 to October 2nd, 2018, Pioneer Aerial Surveys Ltd. (Pioneer) completed an airborne magnetic survey (UAV-MAGTM) at the Bloom Lake East property using an Unmanned Aerial Vehicle (UAV).

The properties involved with this survey are prospective for iron and cobalt mineralization. Showings of high-grade cobaltite have been observed immediately west of Bloom Lake, and the property is located directly across the provincial border from Champion Iron Mines Ltd. Bloom Lake project, which is a currently producing iron mine.

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