Iron & vanadium (Clear Hills ironstone)

POTENTIAL & KNOWN RESERVES IN ALBERTA

557.7 Mt @ 33.3 % Fe, 0.20 % V2O5 indicated + 94.7 Mt inferred; 1.116 Mt V2O5 (AGS)

Confidence: Indicated

• SRK 2012 NI 43-101557.7 Mt @ 33.3 % Fe, 0.20 % V2O5 indicated; 94.7 Mt @ 34.1 % Fe inferredAlberta MAR 20140005 ↗
• AGS vanadium1.116 Mt V2O5 indicated at ≈2,000 ppm over 84 km²AGS INF 155 — Vanadium in Alberta (Feb 2025) ↗
• Historic estimate≥1.1 Bt @ 32–36 % Fe (1975)AGS Clear Hills ironstone ↗

Where it occurs

• Rambling Creek / Worsley
• Whitemud River
• Swift Creek (thickest, NE)
• Smoky River, Spirit River, Blueberry (prospective)

Official reserve pins on the map

• Clear Hills ironstone — indicated557.7 Mt @ 33.3 % Fe, 0.20 % V2O5 · Resource estimate · 2012SRK NI 43-101 / AGS INF 155 ↗
• Clear Hills vanadium — indicated1.116 Mt V2O5 · Resource estimate · 2025AGS INF 155 ↗

GEOLOGY: WHAT MAKES A DEPOSIT MORE LIKELY

Minette-type oolitic ironstone (goethite, nontronite, siderite) with vanadium in glauconite and goethite; flat-lying, 2–10 m thick.

Host formations

Bad Heart Formation (Upper Cretaceous)

Depth range

0–120 m

Favourable conditions

• Bed thickness over 5 m beneath thin Quaternary cover
• Vanadium above 2,000 ppm (southern Clear Hills samples 506–2,598 ppm)
• Low phosphorus zones for direct-reduction feed

Prospectivity envelopes on the map (1)

• Clear Hills Bad Heart oolitic ironstoneFavourable
  Cretaceous oolitic ironstone (chamosite–goethite) with vanadium-enriched glauconite · 0–120 m
  • Bad Heart Formation 2–9 m thick ironstone at < 100 m depth on the Clear Hills plateau
  • Grades 30–35 % Fe with 0.15–0.25 % V2O5 and phosphorus that needs metallurgical removal
  • Flat-lying, open-pit geometry; large tonnage but low grade
  Source: AGS Clear Hills ironstone assessments; historical drilling programs.

DATASETS THAT TEST THE TARGET

Stack these layers on the integrated map

Discriminating datasets first, then every catalogued public dataset tagged to this commodity. Verified endpoints draw directly; link-only entries open the publisher page.

• Bedrock geology of Alberta (Map 600 tiles)Alberta Geological Survey · Bedrock geology · drawable · verifiedWhich formation is at the bedrock surface: the first screen for outcropping targets such as silica sand, limestone, ironstone, bentonite, ammonite shell and shallow coal.Source ↗
• Metallic mineral occurrences (DIG 2019-0026)Alberta Geological Survey · Mineral occurrences · drawable · verifiedKnown showings to anchor exploration models; density is highest on the Shield and Clear Hills.Source ↗
• Sediment (drift) thickness above bedrockAlberta Geological Survey · Structure, depth & isopach · drawable · verifiedOverburden cost for open-pit targets and the depth of cover that geophysics must see through.Source ↗
• AGS prospective areas for mineral explorationAlberta Geological Survey · Mineral occurrences · drawable · verifiedThe survey's own view of where each commodity is prospective; compare with the Atlas knowledge-driven envelopes.Source ↗
• Metallic & industrial minerals agreementsAlberta Energy and Minerals · Mineral tenure · drawable · verifiedLithium, salt, silica, limestone and metallic tenure; about 2 million ha are under lithium leases.Source ↗
• Canada critical minerals projects & processingNatural Resources Canada · Mines & operations · drawable · verifiedFederal critical-minerals pipeline; filter to Alberta by extent.Source ↗

VALUE & VALUE CHAIN

V2O5 / iron ore 62 % Fe: V2O5 US$12,600–14,400/t (2026); iron ore US$97–100/dmt

Vanadium supply: China 68 kt, Russia 20 kt, South Africa 9.1 kt, Brazil 6.4 kt (2023)

Not in the Atlas price deck; steel and vanadium redox flow battery demand set the price.

Value chain

1. Open pit
2. Beneficiation and roast-leach for vanadium
3. Direct-reduced iron or pellets
4. Steel alloys; VRFB electrolyte

Industries and products that rely on it

DEMAND & PRODUCTION PROJECTIONS

What the forecasts say

• CRUVanadium demand ×2 by 2032Stockhead / CRU ↗

Key risks

• Metallurgical recovery
• Vanadium price volatility
• No proponent activity since 2012

DEVELOPMENT: TENURE, ROYALTY, PERMITTING

What a developer needs to know

Tenure

Metallic & Industrial Minerals Tenure Regulation (AR 265/2022): permit — exclusive exploration right, indefinite term, no rent, $625 fee, assessment work $7/ha (first 2 years) → $13 → $20/ha; lease — 15-year initial + 15-year intermediate term, indefinite while producing, $3.50/ha rent.

Royalty

Metallic minerals: 1 % of mine-mouth revenue pre-payout; post-payout the greater of 1 % mine-mouth or 12 % of net revenue (AR 350/93 s.4).

Lead time

10+ years

Permitting path

1. AER Directive 091 (rock-hosted minerals) under the Mineral Resource Development Act, in force Feb 2024
2. EPEA approval and Water Act licence
3. Public Lands Act surface disposition on Crown land
4. Indigenous consultation via the Aboriginal Consultation Office

Infrastructure needs

• Rail spur (≈150 km) or slurry pipeline
• Power for DRI
• Tailings

Active players

Recommended next steps

• Metallurgical pilot on vanadium leach
• Updated NI 43-101 with vanadium grade
• Study petcoke-ash vanadium as the cheaper Alberta vanadium source

MINES, PILOTS & PROJECTS (1)

Who is already working this commodity in Alberta

• Clear Hills iron–vanadium (Rambling Creek)Metallic exploration · Ironstone Resources (dormant) · 557.7 Mt @ 33.3 % Fe, 0.20 % V2O5 indicated (SRK 2012)Exploration (2026)AGS INF 155: 1.116 Mt V2O5 indicated over 84 km²; no activity found 2024–26.Source ↗