Thierry Mine is one of Canada’s largest, most advanced copper deposits ready to come back online. Thierry was a profitable producer of copper from 1976 to 1982 when the mine closed due to low copper prices, trading $0.60 - $0.80 per pound, compared to 2017 prices of over $3.00. With funding, Thierry may be re-commissioned in the next three years, positioning it as a top five copper producer in Canada.

Independent NI 43-101 compliant Technical Report and Preliminary Economic Assessment of the Thierry Mine deposit reports over 1.4 billion pounds of proven copper, holding an in-ground value of $4.23 billion USD, in addition to nickel, platinum, and palladium, for a total of over $4.8 billion USD of in-ground value.

We are currently working on completing the Bankable Feasibility Study and begin Permitting.



History of Thierry Mine


Thierry Deposit optioned by Union Miniere Explorations and Mining Corporation (UMEX) from Kapkichi Nickel Mines and conducts ground geophysical, electromagnetic (EM), magnetometer, and geological surveys in the area.

Follow-up drilling led to the discovery of low grade copper and nickel mineralization in mafic and ultramafic rocks underlying Kapkichi Lake. And additional drilling in the immediate area outlined 4 principal areas with copper-nickel mineralization; the K1-1, K2-1, G and J anomalies.


UMEX performs preliminary metallurgical test work on the Thierry mineralization indicated that a much more favourable metallurgical response than the nearby K1-1, K1-2, K2-1, J and G deposits.

In September 1970, drilling intersects 20 feet of sulphides in biotite and chlorite schist containing 1.24% copper and 0.14% nickel.

Following the discovery drill hole, the Thierry Deposit was drilled off on a grid of cross sections 200 feet apart. 77 holes totalling 45,000 feet were drilled. The mineralization is now known to cover 4,000 feet in length and to have a vertical depth of at least 2,500 feet. The deposit was still open at depth.

1971 - 1976

UMEX awards Kilborn Engineering the contract to prepare a Preliminary Feasibility Study of the deposit and assume project engineering.


The Thierry Deposit initially produced from two open pits followed by underground operations. A total of 52,000 ft of underground diamond drilling was completed to delineate mineralization.

Historical UMEX records indicate production of approximately 5.8 million tons of ore with an average grade of 1.13% copper and 0.14% nickel, between October 1976 and April 1982.

Initially only a copper concentrate was produced; by 1981 limited amount of nickel concentrate was produced.

Later in the mine life precious metals and PGE”s were also recovered: platinum 17,500 troy ounces; palladium 47,000 troy ounces; gold 17,000 troy ounces and silver 900,000 troy ounces. The average grades of PGE”s reported by UMEX were 0.0046 oz/t gold, 0.004 oz/t platinum and 0.020 oz/t.


UMEX began test mining of a large low-grade zone of disseminated copper-nickel mineralization at the K1-1 anomaly


UMEX closes the mine due to a combination of low copper prices and mill inefficiencies.

1987 - 1989

UMEX implements re-sampling and assaying of selected diamond drill holes.

The studies revealed that higher grade nickel-copper zones were coincident with anomalous PGE's.

An airborne geophysical survey (EM/Resistivity / Magnetometer / VLF) was flown  in 1988 over the Kibler Lake Stock.

1990 - 2000

Etruscan Resources Inc. purchases the Thierry Mine property with a view to place it back into production but never does.

2000 - 2003

In 2002, PGM Ventures acquires the property and completes 25 drill holes totalling 8,952 meters to test mineralization at the Thierry Deposit (11 of 25 holes) and at other targets on the property.

2004 - 2005

In 2004 Richview Resources Inc. acquires the property and conducts a multi-phased drill program to explore the Thierry Deposit and other target areas of the Thierry Project.


P&E Mining Consultants Inc., and Billiken Management Services Inc. prepare a NI 43-101 compliant resource estimate.

The resource consisted of 4,623,000 tonnes of Measured and Indicated material at a grade of 1.81 % Cu, 0.20 % Ni, along with 4,366,000 tonnes of Inferred material at a grade of 1.71 % Cu and 0.18 % Ni.


Richview commences validation and exploration program, where 45,900 ft drilling program is completed. Surface drilling around the K1-1 open pit area to confirm and validate the historic drilling is completed.

A compilation of all mine data was conducted and a 3 km corridor of unexplored ground between the Thierry Mine and the K1-1 deposit was cleared of overburden.


Richview commits to an ongoing relationship with the First Nations with respect to the company’s exploration activities and the Thierry Deposit.

A summer work program included excavation, geological mapping, prospecting and geochemical sampling was completed. Richview completes 45,900 ft of a deep drill hole program.

A Mobile Metal Ion (MMI) geochemical survey of the Thierry Project was conducted.


The amalgamation of Cadillac Ventures Inc. and Richview Resources Inc.. pursuant to a three-cornered agreement became effective on January 15, 2010. Cadillac assumes 100% control of the Thierry Project.

2017 Q3

Peblik Limited and Northern Fox sign Earn In Option Assignment Agreement, with interest ownership 51%:30%:19%, Peblik: Cadillac Ventures: Northern Fox, respectively.


Begin fundraising potential $14 million USD to complete the Detailed Feasibility Study, putting Thierry in a position to accept up to potential $30 million in flow through funding to re-commission and begin production in the next 3-5 years.


An advanced copper resource

The Thierry Mine February 2012, NI 43-101 Resource Update is presented in the table show here.

The deposit sits below and to the east of a previously mined ore body – mined open pit and underground to ~850 feet)

The Thierry Mine includes a ramp and shaft down to 1,600 feet including access to the east section and mineralization down to in excess of 3,000 feet – it is open at depth and to the west.

Northern Fox Charts for Web_Thierry Mine Resources Growth.png
2012 P&E Resource Update Thierry Mine.png

K1-1 is located approximately 3 kilometers to the east of the Thierry Mine deposit and contains an economic Whittle Pit inferred resource of 53.6 million tonnes at 0.38% Cu and 0.10% Ni, which represents 449 million pounds of contained copper.

Widespread mineralization, shallow-lying, large, low-grade deposit with localized higher grade occurrences.

1.2 kilometer strike length, open along strike and at depth, with positive results outside the current pit shell.


Mineral Resources

Underground Resource Estimate

Thierry Mineral Resource Estimate

Open-Pit Resource Estimate

K1-1 Resource Estimate.png

Potentially Economic Portion of the Mineral Resources

The Thierry underground Potentially Economic Portion of the Mineral Resources is diluted by 20% and has a 90% mine extraction factor applied. The K1-1 open-pit Potentially Economic Portion of the Mineral Resources is diluted by 8% and has a 97% mine extraction factor applied. 

Potentially Economic Portion.png

Thierry Underground Mine

A longitudinal section of the proposed underground mine. The primary mining method would be conventional longitudinal longhole retreat with paste backfill. It is estimated that 432 stopes would be mined over the mine life. 

Thierry Mine Cross Section

K1-1 open-pit

The proposed K1-1 open-pit would be a conventional open-pit operation utilizing proven open-pit mining equipment and drill/blast/load/haul technologies. The key open-pit mining equipment would include a 10 cubic meter wheel loader, two 12 cubic meter diesel-powered hydraulic excavators and fifteen 91 tonne capacity haulage trucks. 

The open-pit is scheduled to produce 11,000 tonnes per day. 

K1-1 Orebody Typical Cross Section

Exploration at Thierry Mine

Mineralization resources are present underground at Thierry and on surface at K1-1, in each instance the deposits are open at depth and along strike 

The underground resource at Thierry is under review on a stand alone basis. 

The 3 kilometer distance between Thierry and K1-1 is largely untested, with several geophysical targets present. Prior exploration drilling by Cadillac has already extended the Thierry Mine deposit to the east, resulting in an increase in the resource in 2012. Management is optimistic further drilling along the open strike will again expand the resource base at Thierry. 

K1-1 has identified drill targets which are anticipated to expand the resource by in fill drilling within the pit and additional drilling below the current pit where positive results have previously been obtained. 

K1-1 and Thierry Mine Deposits
K1-1 Drill Program


  • Untested Geophysical targets at Thierry. 
  • Both deposits open on strike and to depth. 
  • Metallurgical Recoveries of K1-1 higher than reported drilled grade. 
  • The G and J occurrences lay south of Thierry represent additional known resources previously identified and drilled by UMEX while the Thierry Mine was in operation. 


  • The Thierry Mine Property is located 15 kilometers west of Pickle Lake, Ontario and consists of 47 kilometers squared. 
  • Infrastructure includes a three compartment shaft and production decline to 1700 feet. Three levels developed at 800, 1200 and 1600 feet. 
  • Accessible by an all weather road, municipal airport and nearby rail system.• Provincial power grid within 8 kilometers. 
  • Power sharing agreement with Gold Corp’s Musslewhite Mine. 
  • Memorandum of Agreement with First Nations. 

Mining and Processing Plan

The Thierry deposits will be mined by a combination of underground retreat long-hole methods at the Thierry underground deposit and conventional open-pit methods at the K1-1 deposit. 

This is envisaged to produce a total of 15,000 tonnes per day, 4,000 tonnes per day of mill feed from the underground, combined with 11,000 tonnes per day from the open-pit. 


Conventional process plant and flowsheet will be employed, including crushing and grinding to a 100 micron grind at an annual rate of 5.25 million tpa (15,000 tpd). 

This will be followed by a two (2) product flotation circuit; a copper concentrate containing low nickel but 50% of the PGM, and a copper-nickel concentrate containing 8.6% metal (1.7% Cu, 6.9% Ni) and low PGM. The projected concentrates would be shipped to an off-site smelter. 

Estimated recoveries are: 

  1. Copper concentrate: 30.4% Cu, 0.8% Ni, with 92% copper recovery and 50% Au and PGM recoveries. 
  2. Copper-nickel concentrate: 1.7% Cu, 6.9% Ni with 2% copper recovery and 50%Ni recovery.

Details of PEA


Mining Rate Per Year

15,000 tpd for 5,250,000 tonnes annually

Forecast NSR Value

C$52.12/tonne after calculation of shipping and smelter charges

Payback of Capital

4.0 years from commencement of commercial production

Pre Tax IRR


Pre Tax NPV

C$380 million using 6% discount rate and 10% contingency on operating costs and a 15% contingency on capital costs.

Pre Production Tax NPV

Approximately C$500 million

Cash Flow PA

Approximately C$500 million