CoTec Holdings Corp. announced the completion of its 2023 sonic drilling and bulk sampling testing programme at the Lac Jeannine property and has engaged Corem to complete the metallurgical testing. An initial programme totaling 510 meters of sonic drilling for 13 holes, drilled up to 40 meters, was completed on the historical tailings of the previous Lac Jeannine iron ore mine operated by the Quebec Cartier Mining Company between 1959 and 1985.

Additional bulk sampling has also been concluded, a total of 25 tonnes of tailings material has been shipped to Corem's testing facility in Quebec. Bulk sampling results are expected in First Quarter 2024. The Company has worked closely with Corem to develop the test program best suited for the current stage of development of the Lac Jeannine flowsheet.

Test work will include particle grain size analysis, gravity and particle size separation test work and metallurgical analysis. Results will be used to develop the flow sheet and mass balances for the project and, in addition, will confirm previous historical bulk sampling test work.