February 10, 2025
After a successful 2024 marked by numerous positive meetings, 2025 will be dedicated to following up and consolidating partnerships for Scandium Canada (TSX-V: SCD).
Guy Bourassa, CEO, highlights that the company underwent a major strategic transformation in 2024, strengthening its commitment to innovation, sustainability, and its positioning as a leader in the critical minerals sector.
A New Era for Scandium Canada
One of the key decisions of last year was the appointment of Guy Bourassa as CEO, bringing a renewed strategic vision to the critical minerals sector. This momentum was further boosted by the rebranding of Imperial Mining Group to Scandium Canada, marking the beginning of a new era.
In October 2024, Bourassa undertook a strategic mission to Hong Kong and Singapore, meeting with several investors and potential end-users of scandium interested in the development of the Crater Lake project in Quebec.
He also spent several days in South Korea engaging with market players in the aluminum-scandium alloy sector, a visit he describes as very productive.
“Not only did we discuss the growth potential of Scandium Canada, but also business opportunities in aluminum-scandium alloys,” says Bourassa. “These initial contacts will require significant follow-up, but we are confident in the interest generated by our projects, both in mining and in our advancements in alloys for 3D printing and extrusion.”
Crater Lake Project: A World-Class Deposit
Crater Lake is one of the largest primary scandium projects in the world. It hosts a confirmed resource in the TG zone of 11.8 million tons at 275.9 g/t indicated and 15.9 million tons at 268.4 g/t inferred, before the resource update expected in Q1-2025 to reflect drilling completed in the summer of 2024.
The company holds exclusive mining rights over an area covering 47 km². The TG zone is part of a 4.5 km² area. The potential for new discoveries remains vast on this property.
The June 2022 Preliminary Economic Assessment (PEA) estimated that the project would generate revenues of CAD 15.2 billion (USD 16.9 billion) over an initial 25-year mine life, with an after-tax net present value of CAD 1.72 billion and an internal rate of return of 32.8%. In 2024, Scandium Canada conducted a two-phase drilling campaign, mainly aimed at confirming the extension of the TG zone by an additional 250 meters. The seven drill holes intersected the scandium- and rare earth-bearing ferro-syenite host rock, further confirming the deposit’s potential, which remains open in all directions and at depth.
Following these results, the company is finalizing an updated mineral resource estimate in accordance with Regulation 43-101, which will be published in Q1-2025.
“The 2024 drilling campaigns confirmed the strong scandium and rare earth potential of the TG zone, paving the way for a resource update and a pre-feasibility study for this strategic project,” explains Bourassa.
Major Technological Advances in Aluminum-Scandium Alloys
Another significant milestone reached in 2024 was the filing of a patent in the United States for two aluminum-scandium alloys and their powders, developed in partnership with McMaster University in Ontario.
The use of these alloys in 3D printing paves the way for the production of lightweight and ultra-strong components, particularly for aerospace, automotive, and maritime industries.
Adding only 0.4% scandium to an aluminum alloy can, among other benefits, increase its strength by up to eight times.
Impact on Aviation: The use of aluminum-scandium alloys for aircraft structure assembly (via welding rather than riveting) could reduce weight and generate fuel savings of CAD 10 to 15 million per aircraft over its lifetime.
Aircraft manufacturer Boeing estimates that these alloys could also reduce manufacturing costs by up to USD 3 million (CAD 4.8 million) per aircraft.
Since the patent filing, Scandium Canada has initiated discussions with industrial partners interested in independently testing the properties of these new alloys in 3D printing.
“This patent reflects our ambition to position ourselves as a key player in critical materials, while adopting responsible and sustainable practices,” adds Bourassa.
Towards a Hydrometallurgical Plant and Process Optimization
In the last quarter of 2024, Scandium Canada began searching for an ideal site for its hydrometallurgical plant, which will process scandium concentrate into scandium oxide.
Sites being evaluated include Wabush, Labrador City, and Fermont.
The optimization of the ore concentration process and the hydrometallurgical process has also advanced through testing at the SGS Canada laboratory in Lakefield, Ontario, on a 500 kg sample.
The ore concentration steps have been validated, and the conversion of the concentrate to scandium oxide is now the priority.
Final tests will be completed in February, with a final report expected in March.
2025 Objectives: Pre-feasibility, Metallurgical Pilot, and Environmental
- Update of resources;
- Finalize optimization work on the process flow from the 500kg sample;
- Finalize a pre-feasibility study;
- Launch of a 15-tonne metallurgical pilot program, with completion expected by mid-2026;
- Continued environmental assessment and permitting processes;
- Finalizing strategic partnership agreements.
“Thanks to the progress made, Scandium Canada is entering 2025 with a clear and determined vision to develop its aluminum-scandium value chain,” concludes Bourassa.
Article published in Mining.com.au Magazine
Resource Roadmap: Scandium Canada on growth path in 2025
Source: Resource Roadmap: Scandium Canada on growth path in 2025 – Special Feature – Mining.com.au
