Oceanic Iron Ore Corp.(TSXV:FEO)

Oceanic is focused on the development of the Ungava Bay iron properties in Nunavik, Quebec.

Investor website: https://www.oceanicironore.com/

About

Oceanic is focused on the development of the Ungava Bay iron properties in Nunavik, Quebec. The properties comprise three project areas: Hopes Advance, Morgan Lake and Roberts Lake, which cover over 300 kilometres of iron formation and are located within 20 – 50 km of tidewater.

Verified company data

Cash position
508,054
Shares outstanding
148,439,309
Fully diluted shares
364,777,441
Mineral resource
Hopes Advance has one of the larger iron ore mineral resources globally in respect of single-asset developers (in excess of 1.3 billion tonnes in the Measured and Indicated resource category, at a grade of 32.1% Fe) with a relatively manageable capital cost to bring the asset to production. Mineral Resources for all 10 deposits were estimated for the Bay Zone B, C, D, E, F, Castle Mountain, Iron Valley, West Zone 2, West Zone 4 and West Macdonald deposits, and are totaled below. The effective date of the Mineral Resource Estimate is December 19, 2019. Table 1 – Mineral Resource Estimate Hopes Advance – All 10 Deposits (25% Fe Cut-off) | Resource Classification | Tonnes(t000) | Head Grade(%Fe) | Concentrate Tonnes(t000) | | --- | --- | --- | --- | | Measured | 774241 | 32.2 | 288971 | | Indicated | 613796 | 32.0 | 226901 | | Measured&Indicated | 1388037 | 32.1 | 515872 | | Inferred | 222188 | 32.5 | 82475 | *Refer to “Technical Disclosure” Section for notes on the Mineral Resource Estimate. This mineral resource estimate does not include the historical mineral resources as the Company’s other Project Areas, being Roberts Lake and Morgan Lake, which has the potential for extending the production profile and life of mine in the project area beyond its already significant mine life.
Projects
["Hopes Advance Project: The Hopes Advance Project is located in Northern Québec, Canada. The Company is currently working on progressing key milestones associated with the development of the Project, which include, but are not limited to, economic and optimization studies, detailed engineering, environmental baseline field work and other associated permitting activities. The Project is a world-class iron ore development project, located in a tier-one mining jurisdiction in the same geological formation of other world class producing iron ore mines. The Project has a large tonnage mineral resource over 10 deposits at Hopes Advance in Northern Québec – over 1.3 billion tonnes (Measured and Indicated resource category, at a grade of 32.1% Fe). The current mine plan only contemplates mining 3 of 10 deposits over a 28 year mine life. There is an opportunity for significant life extension at Hopes Advance as well as with possible development of neighboring properties at Roberts Lake and Morgan Lake. The site is located at tidewater, providing direct access of product via access road or pipeline (26km) from site to a private port to be built & operated by Oceanic. The Project enjoys additional infrastructure advantages, including a privately built and operated port and self-generated power for construction and operations. The Project has robust financial metrics, including a low operating cost of $30.70/t and a post-tax NPV8 of $1.4 Billion with an Initial Capex estimate of $1.19 Billion. The mineral resource provides for generational mine life potential."]
Leadership
Jeremy Langford (Director, An internationally recognized mining executive with over 20 years of experience in designing, building, commissioning, and operating large-scale mining projects. Currently serves as President of Artemis Gold Inc. and has a strong background in cold-weather jurisdictions.)

Verified data last updated: 2026-06-12

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