North Atlantic Titanium Corp. (CSE:NATO) (OTC: NATQF) (FSE:Y33) announced the filing of an independent technical report prepared in accordance with National Instrument 43-101 for its Everett Titanium Project in Quebec, Canada. The report, prepared by Micon International Limited, confirms the presence of a laterally extensive titanium-vanadium-phosphate mineralized system within an oxide-apatite noritic gabbro of the Lac Allard magmatic suite, according to a news release.
The Everett Oxide Body is interpreted as a continuous mineralized intrusion extending at least 2.5 km along strike, with indications that the trend continues to the north. Historical drilling, modern surface verification sampling, and analytical work indicate that the mineralized body is a single intrusive unit rather than isolated occurrences. Results from the 2023-2026 exploration program have validated key aspects of the historical database and improved confidence in the geological interpretation, supporting the continuity of the mineralized unit and providing a modern technical framework for further exploration.
No current Mineral Resource Estimate has been defined for the Everett Property. However, the Qualified Persons conclude that the geological continuity, mineralization style, and technical characteristics support continued exploration and evaluation of the Everett Oxide Body. They recommend a staged, two-phase exploration program comprising geological mapping, extensive surface sampling, geometallurgical and metallurgical testing, and up to 25,000 metres of diamond drilling, with an estimated total exploration budget of approximately $13.65 million before taxes, including a contingency of $1.40 million.
Phase 1 is proposed to be executed in two sequential stages and is estimated at $3.58 million, or approximately $4.12 million including contingency of $0.54 million. Stage 1 would comprise integrated surface exploration and geometallurgical definition work with an estimated budget of $1.14 million, followed by Stage 2 of approximately 6,000 metres of diamond drilling with an estimated budget of $2.44 million. Subject to favourable results from Phase 1, Phase 2 would be initiated on a success-contingent basis and would comprise additional metallurgical testing, approximately 19,000 metres of diamond drilling, geological and resource modelling, and the preparation of an initial mineral resource estimate. Phase 2 is estimated at approximately $9.53 million, including $0.87 million contingency.
Micon International Limited is a multidisciplinary engineering company with service capabilities covering geology, mining, metallurgy, mineral economics, and environmental and social studies. Micon has provided independent consulting services to the global mining industry since 1988. The technical report has been filed on SEDAR+, and the company's website is www.natitanium.com.
For investors, the filing and recommended program signal a potential path toward defining a mineral resource at Everett, though no resource estimate exists yet and the program is subject to financing and exploration success. The news underscores the project's large-scale potential and provides a clear roadmap for future work, which could attract further interest in North Atlantic Titanium as it advances one of Quebec's titanium-vanadium-phosphate occurrences. The company also holds a 100-per-cent interest in the Sleeping Giant South project in the Abitibi greenstone belt, approximately 75 kilometres south of Matagami, Quebec.
