Cerrado Gold Advances Mont Sorcier Iron Project in Quebec

Cerrado Gold Inc. has provided an update on its Mont Sorcier iron project near Chibougamau, Quebec. The company is conducting detailed metallurgical tests focused on achieving a 67%+ iron grade concentrate with low silica and alumina content. These tests are crucial for completing the NI 43-101 Bankable Feasibility Study, expected by Q1 2026.

The feasibility study aims to build on the 2022 Preliminary Economic Assessment, which projected a project net present value of US$1.6 billion over 21 years, producing five million tonnes of high-grade iron concentrate annually. Cerrado Gold has appointed DRA Global to lead this study, with support from various specialized consultants.

The project aligns with increasing global demand for high-purity iron products, critical for the green steel economy. Supported by favorable financing from UKEF and TD Bank for 70% of the project capital, Cerrado targets a significant role in sustainable steel production.