Welcome To The Lion Energy Corp, formally Raytec Metals Corp. HUB On AGORACOM
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Raytec Metals Corp. is a dynamic Canadian-based mineral exploration company focused on the acquisition and development of highly prospective potash, iron ore and uranium projects in Canada. The company recently raised $4.2 million to be used towards exploration on its potash claims in central Saskatchwan and its El Sol and Gunflint iron ore projects in Ontario.
- Raytec has just released a NI43-101 report on the KP441 Potash claim which estimates a total indicated resource of 148.02 million metric tonnes grading 23.44% K2O (for a total of 34.7 million tonnes of K2O) and an additional inferred resource of 229.16 million metric tonnes grading 20.40% K2O (for a total of 46.76 million tonnes K2O).
- Recoverable in-place potash equivalent tonnes, assuming using standard deductions and an overall recovery of 36 per cent (10-per-cent geologic anomaly and expected 40-per-cent extraction), are calculated to a net recoverable indicated resource of 12.49 million tonnes of K2O and a net recoverable inferred resource of 16.83 million tonnes of K2O.
- Exploration permits on potash claims expected to be granted in July 2008.
The company also has a carried interest in 17 uranium claims in northern Saskatchewan where its joint venture partners have committed to a combined exploration budget of over $5.6 million prior to 2012.
Raytec’s President, Brian Thurston, believes that by focusing on the development of company’s potash and iron ore properties, the company is well positioned to service the needs of growing economies in Asia.