Falco Resources Announces Updated Feasibility Study for Horne 5 Project, Delivering After-Tax NPV5% C$3.35 Billion, IRR of 28.2% and Cash Flow of C$6.4 Billion at Base Case Gold Price of US$3,600/Oz
Original announcement by tmx on
- Company
- Falco Resources Ltd.
- Ticker
- FPC
- Exchange
- TSX
- Region
- Québec, Canada
- Primary commodity
- Gold
- Secondary commodities
- Silver, Copper, Zinc
- Document categories
- Resource update, Economic study, Metallurgy
- Extracted
- 2026-09-17 22:45:42 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Falco Resources announced an updated Feasibility Study for its Horne 5 Project, reporting a robust after-tax NPV5% of C$3.35 billion and an IRR of 28.2% at a base case gold price of US$3,600/oz. The study outlines a 15-year underground mine with average annual gold production of 220,300 payable ounces and a low AISC of US$782/oz. This represents a significant improvement over the 2021 FS, with the project benefiting from substantial copper, zinc, and silver by-product credits and strong local support in Québec.
Reasoning: The updated Feasibility Study for the Horne 5 Project demonstrates significantly improved economics with a high after-tax NPV and IRR, low AISC, and a long mine life, positioning it as a major gold producer. The study is NI 43-101 compliant and prepared by independent QPs, indicating high confidence in the results, despite pending final permitting decisions.
Positive factors
- Robust economics with high after-tax NPV and IRR
- Significant increase in NPV and IRR compared to prior study
- Low all-in sustaining costs (AISC) positioning as 1st quartile producer
- Long mine life of 15 years with potential for further development
- Strong local support and advanced permitting process
- NI 43-101 compliant Feasibility Study prepared by independent QPs
Negative factors
- Permitting not fully complete, with a government decision expected by end of 2026
- Funding not explicitly stated as fully committed beyond the silver stream agreement
Facts used in scoring: 34
Classification and evidence
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: A current resource fact retains the disclosed cut-off grade
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The source explicitly discloses a revised resource estimate
Evidence · text
“updated mineral resource estimate”
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: the document describes a mill_cil route ("CIP")
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: the document describes a gravity route ("gravity")
Extracted facts
Stored fact records: 32. Some facts used in scoring do not have a stored record.
Resource Estimates (28)
measuredHorne 5 Project · goldTonnes: 13049000Grade: 1.3Grade Unit: g/tContained Metal: 0.547Contained Unit: mozView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- gold
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:a92e91891eb67884efde
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- measured
- Tonnes
- 13049000
- Grade
- 1.3
- Grade Unit
- g/t
- Contained Metal
- 0.547
- Contained Unit
- moz
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.8
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Measured gold resource contributes significantly to the project's overall value and confidence.
Positive factors
- High confidence Measured category
- Significant contained gold
- NI 43-101 compliant and QP signed
Evidence · table
“1.30”
Context: 13.049
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredHorne 5 Project · silverTonnes: 13049000Grade: 14.64Grade Unit: g/tContained Metal: 6.143Contained Unit: mozView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- silver
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:a92e91891eb67884efde
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- measured
- Tonnes
- 13049000
- Grade
- 14.64
- Grade Unit
- g/t
- Contained Metal
- 6.143
- Contained Unit
- moz
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.8
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Measured silver resource adds significant byproduct value to the project with high confidence.
Positive factors
- High confidence Measured category
- Significant contained silver as a byproduct
- NI 43-101 compliant and QP signed
Evidence · table
“14.64”
Context: 13.049
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredHorne 5 Project · copperTonnes: 13049000Grade: 0.15Grade Unit: %Contained Metal: 44.175Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- copper
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:a92e91891eb67884efde
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- measured
- Tonnes
- 13049000
- Grade
- 0.15
- Grade Unit
- %
- Contained Metal
- 44.175
- Contained Unit
- mlbs
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.8
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Measured copper resource provides additional byproduct value and confidence to the project.
Positive factors
- High confidence Measured category
- Significant contained copper as a byproduct
- NI 43-101 compliant and QP signed
Evidence · table
“0.15”
Context: 13.049
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredHorne 5 Project · zincTonnes: 13049000Grade: 0.65Grade Unit: %Contained Metal: 186.654Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- zinc
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:a92e91891eb67884efde
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- measured
- Tonnes
- 13049000
- Grade
- 0.65
- Grade Unit
- %
- Contained Metal
- 186.654
- Contained Unit
- mlbs
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.8
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Measured zinc resource contributes valuable byproduct credits and enhances project confidence.
Positive factors
- High confidence Measured category
- Significant contained zinc as a byproduct
- NI 43-101 compliant and QP signed
Evidence · table
“0.65”
Context: 13.049
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedHorne 5 Project · goldTonnes: 109403000Grade: 1.33Grade Unit: g/tContained Metal: 4.669Contained Unit: mozView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- gold
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:9cf525e3aa16cb9de260
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 109403000
- Grade
- 1.33
- Grade Unit
- g/t
- Contained Metal
- 4.669
- Contained Unit
- moz
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.81
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Indicated gold resource represents a substantial portion of the project's gold endowment, supporting its economic viability.
Positive factors
- Large Indicated gold resource
- Significant contained gold
- NI 43-101 compliant and QP signed
Evidence · table
“1.33”
Context: 109.403
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedHorne 5 Project · silverTonnes: 109403000Grade: 13.27Grade Unit: g/tContained Metal: 46.678Contained Unit: mozView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- silver
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:9cf525e3aa16cb9de260
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 109403000
- Grade
- 13.27
- Grade Unit
- g/t
- Contained Metal
- 46.678
- Contained Unit
- moz
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.81
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Indicated silver resource provides substantial byproduct credits, enhancing the project's overall economics.
Positive factors
- Large Indicated silver resource
- Significant contained silver as a byproduct
- NI 43-101 compliant and QP signed
Evidence · table
“13.27”
Context: 109.403
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedHorne 5 Project · copperTonnes: 109403000Grade: 0.15Grade Unit: %Contained Metal: 363.522Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- copper
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:9cf525e3aa16cb9de260
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 109403000
- Grade
- 0.15
- Grade Unit
- %
- Contained Metal
- 363.522
- Contained Unit
- mlbs
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.81
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Indicated copper resource adds valuable byproduct credits and contributes to the project's overall economic robustness.
Positive factors
- Large Indicated copper resource
- Significant contained copper as a byproduct
- NI 43-101 compliant and QP signed
Evidence · table
“0.15”
Context: 109.403
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedHorne 5 Project · zincTonnes: 109403000Grade: 0.7Grade Unit: %Contained Metal: 1693.832Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- zinc
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:9cf525e3aa16cb9de260
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 109403000
- Grade
- 0.7
- Grade Unit
- %
- Contained Metal
- 1693.832
- Contained Unit
- mlbs
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.81
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Indicated zinc resource provides substantial byproduct credits, further enhancing the project's economic potential.
Positive factors
- Large Indicated zinc resource
- Significant contained zinc as a byproduct
- NI 43-101 compliant and QP signed
Evidence · table
“0.70”
Context: 109.403
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredHorne 5 Project · goldTonnes: 30071000Grade: 1.23Grade Unit: g/tContained Metal: 1.189Contained Unit: mozView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- gold
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:420c65357787cf15b270
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 30071000
- Grade
- 1.23
- Grade Unit
- g/t
- Contained Metal
- 1.189
- Contained Unit
- moz
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.74
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Inferred gold resource provides future exploration upside but requires further drilling to upgrade confidence.
Positive factors
- Additional gold resource potential in the Inferred category
- NI 43-101 compliant and QP signed
Negative factors
- Inferred resources have lower geological confidence and cannot support economic studies alone
Evidence · table
“1.23”
Context: 30.071
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredHorne 5 Project · silverTonnes: 30071000Grade: 17.17Grade Unit: g/tContained Metal: 16.601Contained Unit: mozView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- silver
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:420c65357787cf15b270
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 30071000
- Grade
- 17.17
- Grade Unit
- g/t
- Contained Metal
- 16.601
- Contained Unit
- moz
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.74
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Inferred silver resource offers future byproduct potential but requires further validation.
Positive factors
- Additional silver resource potential in the Inferred category
- NI 43-101 compliant and QP signed
Negative factors
- Inferred resources have lower geological confidence and cannot support economic studies alone
Evidence · table
“17.17”
Context: 30.071
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredHorne 5 Project · copperTonnes: 30071000Grade: 0.17Grade Unit: %Contained Metal: 110.218Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- copper
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:420c65357787cf15b270
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 30071000
- Grade
- 0.17
- Grade Unit
- %
- Contained Metal
- 110.218
- Contained Unit
- mlbs
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.74
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Inferred copper resource provides future byproduct potential but requires further validation.
Positive factors
- Additional copper resource potential in the Inferred category
- NI 43-101 compliant and QP signed
Negative factors
- Inferred resources have lower geological confidence and cannot support economic studies alone
Evidence · table
“0.17”
Context: 30.071
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredHorne 5 Project · zincTonnes: 30071000Grade: 0.55Grade Unit: %Contained Metal: 363.64Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- zinc
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:420c65357787cf15b270
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 30071000
- Grade
- 0.55
- Grade Unit
- %
- Contained Metal
- 363.64
- Contained Unit
- mlbs
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.74
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Inferred zinc resource offers future byproduct potential but requires further validation.
Positive factors
- Additional zinc resource potential in the Inferred category
- NI 43-101 compliant and QP signed
Negative factors
- Inferred resources have lower geological confidence and cannot support economic studies alone
Evidence · table
“0.55”
Context: 30.071
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
provenHorne 5 Project · goldTonnes: 8400000Grade: 1.41Grade Unit: g/tView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- gold
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Geneviève Auger
- Resource group id
- resource:9701e50f365dcfc91510
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- proven
- Tonnes
- 8400000
- Grade
- 1.41
- Grade Unit
- g/t
- Cutoff Grade
- 119
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Proven gold reserve provides the highest level of confidence for the project's economic viability and mine plan.
Positive factors
- Highest confidence Proven Reserve category
- QP signed and CIM compliant
Evidence · table
“1.41”
Context: 8.4
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
provenHorne 5 Project · silverTonnes: 8400000Grade: 15.8Grade Unit: g/tView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- silver
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Geneviève Auger
- Resource group id
- resource:9701e50f365dcfc91510
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- proven
- Tonnes
- 8400000
- Grade
- 15.8
- Grade Unit
- g/t
- Cutoff Grade
- 119
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Proven silver reserve adds high-confidence byproduct value to the project's economic plan.
Positive factors
- Highest confidence Proven Reserve category
- Significant contained silver as a byproduct
- QP signed and CIM compliant
Evidence · table
“15.8”
Context: 8.4
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
provenHorne 5 Project · copperTonnes: 8400000Grade: 0.17Grade Unit: %View all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- copper
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Geneviève Auger
- Resource group id
- resource:9701e50f365dcfc91510
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- proven
- Tonnes
- 8400000
- Grade
- 0.17
- Grade Unit
- %
- Cutoff Grade
- 119
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Proven copper reserve contributes high-confidence byproduct value to the project's economic plan.
Positive factors
- Highest confidence Proven Reserve category
- Significant contained copper as a byproduct
- QP signed and CIM compliant
Evidence · table
“0.17”
Context: 8.4
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
provenHorne 5 Project · zincTonnes: 8400000Grade: 0.75Grade Unit: %View all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- zinc
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Geneviève Auger
- Resource group id
- resource:9701e50f365dcfc91510
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- proven
- Tonnes
- 8400000
- Grade
- 0.75
- Grade Unit
- %
- Cutoff Grade
- 119
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Proven zinc reserve adds high-confidence byproduct value to the project's economic plan.
Positive factors
- Highest confidence Proven Reserve category
- Significant contained zinc as a byproduct
- QP signed and CIM compliant
Evidence · table
“0.75”
Context: 8.4
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableHorne 5 Project · goldTonnes: 72500000Grade: 1.44Grade Unit: g/tView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- gold
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Geneviève Auger
- Resource group id
- resource:f119a6b74532abf2aead
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- probable
- Tonnes
- 72500000
- Grade
- 1.44
- Grade Unit
- g/t
- Cutoff Grade
- 119
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Probable gold reserve forms a substantial part of the project's mineable inventory, supporting the economic study.
Positive factors
- Large Probable Reserve category
- Significant contained gold
- QP signed and CIM compliant
Evidence · table
“1.44”
Context: 72.5
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableHorne 5 Project · silverTonnes: 72500000Grade: 14Grade Unit: g/tView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- silver
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Geneviève Auger
- Resource group id
- resource:f119a6b74532abf2aead
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- probable
- Tonnes
- 72500000
- Grade
- 14
- Grade Unit
- g/t
- Cutoff Grade
- 119
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Probable silver reserve adds substantial byproduct value to the project's mine plan.
Positive factors
- Large Probable Reserve category
- Significant contained silver as a byproduct
- QP signed and CIM compliant
Evidence · table
“14.0”
Context: 72.5
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableHorne 5 Project · copperTonnes: 72500000Grade: 0.17Grade Unit: %View all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- copper
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Geneviève Auger
- Resource group id
- resource:f119a6b74532abf2aead
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- probable
- Tonnes
- 72500000
- Grade
- 0.17
- Grade Unit
- %
- Cutoff Grade
- 119
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Probable copper reserve contributes valuable byproduct credits to the project's mine plan.
Positive factors
- Large Probable Reserve category
- Significant contained copper as a byproduct
- QP signed and CIM compliant
Evidence · table
“0.17”
Context: 72.5
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableHorne 5 Project · zincTonnes: 72500000Grade: 0.78Grade Unit: %View all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- zinc
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Geneviève Auger
- Resource group id
- resource:f119a6b74532abf2aead
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- probable
- Tonnes
- 72500000
- Grade
- 0.78
- Grade Unit
- %
- Cutoff Grade
- 119
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Probable zinc reserve adds substantial byproduct credits to the project's mine plan.
Positive factors
- Large Probable Reserve category
- Significant contained zinc as a byproduct
- QP signed and CIM compliant
Evidence · table
“0.78”
Context: 72.5
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedHorne 5 Project · goldTonnes: 122452000Grade: 1.32Grade Unit: g/tContained Metal: 5.216Contained Unit: mozView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- gold
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:0d01834f47b23a5af39d
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 122452000
- Grade
- 1.32
- Grade Unit
- g/t
- Contained Metal
- 5.216
- Contained Unit
- moz
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.81
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Indicated resource category provides a strong foundation for future reserve conversion and project development. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Large Indicated resource category
- Significant contained metal equivalent
- NI 43-101 compliant and QP signed
Evidence · table
“1.32”
Context: 122.452
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedHorne 5 Project · silverTonnes: 122452000Grade: 13.42Grade Unit: g/tContained Metal: 52.822Contained Unit: mozView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- silver
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:0d01834f47b23a5af39d
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 122452000
- Grade
- 13.42
- Grade Unit
- g/t
- Contained Metal
- 52.822
- Contained Unit
- moz
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.81
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Indicated resource category provides a strong foundation for future reserve conversion and project development. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Large Indicated resource category
- Significant contained metal equivalent
- NI 43-101 compliant and QP signed
Evidence · table
“13.42”
Context: 122.452
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedHorne 5 Project · copperTonnes: 122452000Grade: 0.15Grade Unit: %View all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- copper
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:0d01834f47b23a5af39d
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 122452000
- Grade
- 0.15
- Grade Unit
- %
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.81
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Indicated resource category provides a strong foundation for future reserve conversion and project development. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Large Indicated resource category
- Significant contained metal equivalent
- NI 43-101 compliant and QP signed
Evidence · table
“0.15”
Context: 122.452
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedHorne 5 Project · zincTonnes: 122452000Grade: 0.7Grade Unit: %View all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- zinc
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- resource
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Martin Perron
- Resource group id
- resource:0d01834f47b23a5af39d
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 122452000
- Grade
- 0.7
- Grade Unit
- %
- Cutoff Grade
- 75
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Metal Eq. Grade
- 1.81
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Indicated resource category provides a strong foundation for future reserve conversion and project development. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Large Indicated resource category
- Significant contained metal equivalent
- NI 43-101 compliant and QP signed
Evidence · table
“0.70”
Context: 122.452
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableHorne 5 Project · goldTonnes: 80900000Grade: 1.44Grade Unit: g/tView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- gold
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Geneviève Auger
- Resource group id
- resource:261d6980db25feedbfcf
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- probable
- Tonnes
- 80900000
- Grade
- 1.44
- Grade Unit
- g/t
- Cutoff Grade
- 119
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Probable gold reserve forms a substantial part of the project's mineable inventory, supporting the economic study. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Large Probable Reserve category
- Significant contained gold
- QP signed and CIM compliant
Evidence · table
“1.44”
Context: 80.9
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableHorne 5 Project · silverTonnes: 80900000Grade: 14.1Grade Unit: g/tView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- silver
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Geneviève Auger
- Resource group id
- resource:261d6980db25feedbfcf
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- probable
- Tonnes
- 80900000
- Grade
- 14.1
- Grade Unit
- g/t
- Cutoff Grade
- 119
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Probable gold reserve forms a substantial part of the project's mineable inventory, supporting the economic study. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Large Probable Reserve category
- Significant contained gold
- QP signed and CIM compliant
Evidence · table
“14.1”
Context: 80.9
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableHorne 5 Project · copperTonnes: 80900000Grade: 0.17Grade Unit: %View all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- copper
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Geneviève Auger
- Resource group id
- resource:261d6980db25feedbfcf
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- probable
- Tonnes
- 80900000
- Grade
- 0.17
- Grade Unit
- %
- Cutoff Grade
- 119
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Probable gold reserve forms a substantial part of the project's mineable inventory, supporting the economic study. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Large Probable Reserve category
- Significant contained gold
- QP signed and CIM compliant
Evidence · table
“0.17”
Context: 80.9
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableHorne 5 Project · zincTonnes: 80900000Grade: 0.77Grade Unit: %View all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- zinc
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-06-02T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Geneviève Auger
- Resource group id
- resource:261d6980db25feedbfcf
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- probable
- Tonnes
- 80900000
- Grade
- 0.77
- Grade Unit
- %
- Cutoff Grade
- 119
- Cutoff Unit
- $/t NSR
Prior Estimate
- Resource Date
- 2026-06-02
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The Probable gold reserve forms a substantial part of the project's mineable inventory, supporting the economic study. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Large Probable Reserve category
- Significant contained gold
- QP signed and CIM compliant
Evidence · table
“0.77”
Context: 80.9
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Metallurgical Results (4)
cyanide leaching, CIPHorne 5 Project · goldRecovery: 88.3 %Head Grade: 1.44Head Grade Unit: g/tView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- gold
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Test Work
- Program Status
- detailed
- Test Type
- cyanide leaching, CIP
- Processing Route
- SAG, ball milling, flotation, fine grinding, cyanide leaching, CIP
- Grind P80
- 12 µm
Recovery
- Recovery
- 88.3 %
- Recovery Basis
- to_payable_metal
- Head Grade
- 1.44
- Head Grade Unit
- g/t
Lab
- Consultant
- BBA Inc.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The high payable gold recovery is a key positive for the project's economics, indicating efficient extraction from the pyrite concentrate.
Positive factors
- High payable gold recovery
- Concentrates free of significant deleterious elements
- Detailed test program supporting feasibility study
Evidence · text
“average payable recoveries are estimated at 88.3% for gold”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the mill_cil signal
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
flotationHorne 5 Project · copperRecovery: 75.7 %Head Grade: 0.15Head Grade Unit: %View all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- copper
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- SAG, ball milling, flotation, fine grinding, cyanide leaching, CIP
- Grind P80
- 55 µm
Recovery
- Recovery
- 75.7 %
- Recovery Basis
- to_payable_metal
- Head Grade
- 0.15
- Head Grade Unit
- %
- Conc. Grade
- 16
- Conc. Grade Unit
- %
Lab
- Consultant
- BBA Inc.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The good payable copper recovery and high-grade concentrate contribute positively to the project's byproduct credits and marketability.
Positive factors
- Good payable copper recovery
- High-grade copper concentrate
- Concentrates free of significant deleterious elements
- Detailed test program supporting feasibility study
Evidence · text
“average payable recoveries are estimated at 75.7% for copper”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the mill_cil signal
Low Recoverynegative
Recovery below the weak band for the commodity and processing route.
Why it applies: 75.7% is below the weak band (80%)
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
flotationHorne 5 Project · zincRecovery: 72.8 %Head Grade: 0.7Head Grade Unit: %View all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- zinc
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- SAG, ball milling, flotation, fine grinding, cyanide leaching, CIP
- Grind P80
- 55 µm
Recovery
- Recovery
- 72.8 %
- Recovery Basis
- to_payable_metal
- Head Grade
- 0.7
- Head Grade Unit
- %
- Conc. Grade
- 52
- Conc. Grade Unit
- %
Lab
- Consultant
- BBA Inc.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The good payable zinc recovery and high-grade concentrate enhance the project's byproduct credits and marketability.
Positive factors
- Good payable zinc recovery
- High-grade zinc concentrate
- Concentrates free of significant deleterious elements
- Detailed test program supporting feasibility study
Evidence · text
“average payable recoveries are estimated at 72.8% for zinc”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the mill_cil signal
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
cyanide leaching, CIPHorne 5 Project · silverRecovery: 74.2 %Head Grade: 14.1Head Grade Unit: g/tView all detailsHide details
Identity
- Project
- Horne 5 Project
- Commodity
- silver
- Region
- canada_qc
- Reported Region
- Québec, Canada
- Ticker
- FPC
Test Work
- Program Status
- detailed
- Test Type
- cyanide leaching, CIP
- Processing Route
- SAG, ball milling, flotation, fine grinding, cyanide leaching, CIP
- Grind P80
- 12 µm
Recovery
- Recovery
- 74.2 %
- Recovery Basis
- to_payable_metal
- Head Grade
- 14.1
- Head Grade Unit
- g/t
Lab
- Consultant
- BBA Inc.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-17T00:00:00.000Z
Reasoning: The good payable silver recovery contributes valuable byproduct credits to the project's overall economics.
Positive factors
- Good payable silver recovery
- Concentrates free of significant deleterious elements
- Detailed test program supporting feasibility study
Evidence · text
“average payable recoveries are estimated at 74.2% for silver”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the mill_cil signal
Low Recoverynegative
Recovery below the weak band for the commodity and processing route.
Why it applies: 74.2% is below the weak band (75%)
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.