Dobie Lake Copper Property
The project is located in Albanel Township approximately 32 km Northwest of Elliot Lake and 40 km North of Blind River - approx. 100km from Sue Saint Marie, Ont. The Dobie Lake Property comprises 169 claims totaling 8,600 Acres with open ground to the southwest and east along extensions of the known copper bearing structures, which would allow the property to be expanded.
Drill Results
Recent drilling gave very high copper values as expected averaging nearly 4% copper over 1.8 meters. A historical 2.4m channel sample containing some massive sulphide assayed 6.78% copper and 60 g/t silver.
The mineralized structures, having a combined strike length of over 8 kilometres, are considered to represent a class of polymetallic quartz veins and/or Cu-Au-bearing veins and breccia pipes commonly found within the Proterozoic Huronian Basin.
Growing EV Demand
Per the Copper Development Association battery electric vehicles require 183lbs of copper while traditional combustion engine vehicles only require 51lbs of copper. Based on BloombergNEF's forecasting EV sales will be more than 50% of total auto sales by 2040 making copper a vital input for automakers.
Development of Renewable Energy Sources
IRENA's Renewable Energy Roadmap demands 432,000 tonnes of copper to meet offshore wind installation targets by 2050, a 648% increase from 2020 levels
Decarbonized Future
JPMorgan forecasts that decarbonization efforts will account for more than 40% of overall demand growth and demand increasing from 1.8 million tonnes in 2021 to more than 3 million tonnes by 2025