Stay Curious. Stay Connected.
MailNewsletters♡Donate Now
Sign up
*Password must be at least 8 characters and contain one uppercase letter, one lowercase letter, one number and one symbol.
Already have an account?
By submitting, you consent that you are at least 18 years of age and to receive information about MPR's or APMG entities' programs and offerings. The personally identifying information you provide will not be sold, shared, or used for purposes other than to communicate with you about MPR, APMG entities, and its sponsors. You may opt-out at any time clicking the unsubscribe link at the bottom of any email communication. View our Privacy Policy.
Sign in to your profile
Forgot Password?
New to MPR News?
Welcome back
to news
for you
Reset Password

Enter the username on file and we'll send you a code to reset your password.

Still require assistance or not sure what your User Name is?
Welcome back
to news
for you
Email Verification

A verification code has been emailed to

Still awaiting the code?
Babbit, Minn. (AP)

Iron Range metals deposit could be one of world's largest

Go Deeper.

Create an account or log in to save stories.

Log inCreate a free Account

Like this?

Thanks for liking this story! We have added it to a list of your favorite stories.

Show me!

A metals deposit found near here might be one of the world's largest unexploited resources of its kind, Franconia Minerals Corp. officials said.

The company's drilling program at Birch Lake found the copper-nickel and platinum group resource and tested it to determine the thickness and grade of the metals, officials said in a news release.

The company estimated the deposits at Birch Lake, at nearby Maturi and at the company's resource at Spruce Road contain 307 million tons of inferred mineral resources.

A preliminary economic assessment shows that over 26 years, mines at Birch Lake and Maturi could yield 74 million pounds of copper, 19 million pounds of nickel and 2.9 million pounds of cobalt, 68,000 ounces of palladium, 33,000 ounces of platinum, and 7,400 ounces of gold, the company said.

The Spokane, Wash.-based company hopes to develop a group metals mine and processing facility at the site.

Exploratory drilling at Birch Lake will be complete in January, and the company will then start drilling at the Maturi property, said Franconia President and CEO Brian Gavin.