The Tuktu Project is located within 60 kilometers of the Roche Bay Project on the eastern side of the Melville Peninsula. It is within 45 kilometers of tidewater. The inferred resource estimate for Tuktu includes 465 million tonnes of 31.3% total iron, at a 20% iron cut-off, as reported for Tuktu 1 deposit.

Independent geological consultants have completed a comprehensive review of the Roche Bay and Tuktu projects. The key conclusion from the review: there exists a potential for direct ship ore-type iron at both Tuktu and Roche Bay.