News Article | November 2, 2016
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 2, 2016) - Vendome Resources Corp. (TSX VENTURE:VDR)(FRANKFURT:9VR) ("Vendome" or "the Company") is pleased to announce assay results from July-August 2016 geological, geochemical and geophysical work completed at its 100% owned Clinton Manganese Property located near Clinton, British Columbia. Combined with a ground magnetometer geophysical survey, a total of 10 rock samples and 80 soil samples were collected from three claims (MN2, MN3, and MN4). The results not only confirmed the presence of anomalous values of manganese in rock and soil samples but also helped in generating targets for further exploration work on the property. Highlights of the sampling program are: The exploration work was carried out during July-August 2016 and was contracted to Andris Kakuka a professional geologist registered with Association of Professional Engineers and Geoscientists of British Columbia (APEGBC). Details of rock samples are provided in the table at the end of this press release and the exploration maps can be viewed at the Company's website. All the samples were shipped to SGS Canada Laboratories in Burnaby, British Columbia. The rock samples were assayed using GE_ICP 40B - Multi-Acid (4 Acid) digestion / ICP-AES Package. The soil samples were analyzed using SGS Laboratories proprietary MMI-M5 analytical procedure. In this technique, target elements are extracted using weak solutions of organic and inorganic compounds and analyzed through ICP-MS Dynamic Reaction Cell™ (DRC II™). The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as a consultant with the Company. Vendome is a mineral exploration company located in Burlington, Ontario, Canada. Our primary focus is to acquire "near-term production" exploration mining projects and existing producers. Vendome Resources Corp. is managed by an experienced team of mining professionals with extensive operating and financial experience. ON BEHALF OF THE BOARD OF DIRECTORS OF VENDOME RESOURCES CORP. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company's filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information.
News Article | November 22, 2016
TORONTO, ON--(Marketwired - November 22, 2016) - Aura Minerals Inc. (TSX: ORA) ("Aura", the "Company") is pleased to announce the results from the Feasibility Study (the "Study") for the Ernesto/Pau-a-Pique Project (the "Project") located in the southwest of Mato Grosso state, near Pontes e Lacerda in Brazil. The Feasibility Study supports a systematic sequence to launch three gold mines starting with the Lavrinha open pit gold deposit, followed by the re-start of the Pau-a-Pique underground gold deposit and subsequently the development and production of the Ernesto underground gold deposit. Jim Bannantine, the Company's President and CEO noted, "We believe that the results of the Study show that the Ernesto/Pau-a-Pique Project will help to support Aura Minerals' operational presence in Brazil for the years to come. The Project is shown to be mostly self-financeable with the selected mining sequence, which will minimize the risks for the Company. We believe the Project has tremendous upside potential as well and we are very encouraged by its prospects." The Project consists of the Lavrinha open pit, the Pau-a-Pique underground mine and the Ernesto deposit which have been reviewed in the Study; as well as three additional areas to be evaluated in 2017 and 2018 (e.g. Nosde, Japones and Pombihnas). The processing plant was commissioned in 2012 and treated ores from Pau-a-Pique and the Ernesto open pit until its closure in December 2014. It is centrally located to these deposits and additional areas and a capacity of 3,000 tonnes per day ("tpd") through a conventional carbon-in-leach process. The process includes crushing, grinding, gold extraction/recovery and cyanide detoxification stages followed by final deposition in a tailings storage facility. The Study presents attractive economics since most of the Project's infrastructure such as fresh water access, power line bringing energy to the different areas in the project (including Pau-a-Pique underground mine) and access roads are already in place. The capital requirements are further reduced by the reutilization and transfer of Pau-a-Pique's infrastructure and mine fleet to the newly developed Ernesto underground upon completion of the scheduled production at Pau a Pique. The Study was developed by a group of leading consultants in the mining sector such as P&E Mining Consultants, MCB Brazil, Knight Piesold Canada, Patterson & Cooke, SGS Canada, SGS Belo Horizonte, Jacobs and Tierra Group International Ltd. The Project economics are comprised of two economical scenarios: 1) "Base Case" Scenario which uses current metal prices and foreign exchange rates (e.g. 1,300 USD/oz Au and 3.2:1 FOREX) and, 2) "Consensus" Scenario which considers the long-term metal prices and foreign exchange rates (e.g. 1,350 USD/oz Au and 3.5:1 FOREX). The below summary shows the After-Tax Project economics for the "Base Case" Scenario: The "Consensus" scenario is considered as an upside case and its results will be presented in the final report, to be filed within 45 days of this news release. Inflation has not been considered in the cash flow analysis, since the Project will be commenced over a relatively short period of time, and all costs are stated in nominal terms. Neither costs nor revenue has been escalated with any Consumer Price Index ("CPI") or other base commodities inflation. Mining at Pau-a-Pique will be conducted by a modified Avoca choke blasting stoping method with ore transported to the run-of-mine ("ROM") pad on surface by 30 tonne haulage trucks operating through the main ramp. Ore will be subsequently hauled on a 47 km surface road to the Ernesto processing plant. Primary access to the underground mine is via a single portal located next to the main mining office. Approximately 0.32 Mt of ore at an average grade of 3.24 g/t Au will be mined over a 17 month period at an average of 850 tpd when the Project achieves full production. Once the deposit has been depleted most of the equipment and operators will be transferred to the Ernesto operation. The stoping method applied to the Area 7 and Area 8, NW, and P3 and P4 ore bodies will be via Hanging Wall ("HW") access ore drives with levels spaced at 15 metre ("m") and 21 m vertical intervals, for the upper and lower areas of the deposit, respectively. The upper and lower areas will be separated by a sill pillar. Unconsolidated waste rock will be used to backfill the stopes The majority of underground mining activities will utilize Aura's employees, with external contractors or suppliers to undertake the supply of explosives, piping and services, ground support consumables, truck haulage underground and on surface and other specialized tasks (i.e. site security, doré bar transportation, etc.). Aura has 100% ownership of all major fixed plant components utilized at the mine. Due to its nature of gentle and variable shallow dip and variable thickness, the Ernesto gold deposit will be extracted by a Drift and Fill mining method, using a combination of drifting in ore and transverse primary and secondary small stopes in a 32%:36%:32% drift/primary/secondary tonnage ratio. The deposit is relatively close to surface at a maximum depth of approximately 170 m and will be accessed by one main ramp portal, with a second portal for definition drilling access. The main backfill material will be waste rock for secondary stopes and ore drifts and cemented rock fill ("CRF") for all primary stopes. Waste rock to fulfil the required backfill quantities will be obtained from two sources; the primary source will be from mine waste development and the second source will from the existing Ernesto open pit waste rock storage facility. A six month pre-production period will be followed by approximately 3.5 years of production to mine an estimated 0.87 Mt of ore at an average grade of 5.03 g/t Au. Production will average 800 tpd. The majority of underground mining activities at Ernesto will use Aura's employees, with external contractors or suppliers to undertake the supply of explosives, piping and services, ground support consumables, cement supply for the CRF plant, and other specialised tasks. Aura will have 100% ownership of all major fixed plant components used at Ernesto. Activities such as diamond drilling and other specialized activities or Project work will be contracted. Approximately 1.11 Mt of ore at an average grade of 1.69 g/t Au and 14.0 Mt of waste rock will be mined from the Lavrinha open pit over a two and half year period. The overall strip ratio for Lavrinha is 12.6:1 with mining conducted 365 days per year by a contractor. The contract is full service and includes providing all mining equipment, drilling, blasting, loading, hauling and maintenance. Total material movement rates of the LOM range from 15,000 to 25,000 tpd. Conventional truck and hydraulic shovels will be utilized. Four excavators, supported by three front-end loaders, will load a fleet of ten 38-tonne trucks and five 25-tonne trucks. Ore will be transported to the primary crusher and ROM pad, and waste material will be hauled to a nearby waste rock storage facility. Multiple metallurgical samples of the three deposits (Ernesto, Lavrinha and Pau-a-Pique) were selected from available core and coarse rejects to represent scheduled half years according to the production forecast. The testwork was performed in two different laboratories; SGS Lakefield performed the grinding work, which consisted of SAG Power Index ("SPI") and Bond Work Index ("BWI") measurements, while SGS Geosol, in Belo Horizonte Brazil, performed the hydrometallurgical testwork. The grinding testwork showed the ore to be relatively soft both in the coarse and fine fractions, with SPI averaging 27 minutes and the Bond Work Index ("BWI") averaging 9.3 kWh/tonne. All samples tested had a calculated treatment rate well above the design rate of 130 t/h (e.g. 3,000 tpd). This indicates that the grinding circuit, as installed, will be able to achieve the planned production rate. The hydrometallurgical test programme was designed to follow the existing plant flowsheet as closely as possible. Two different grind sizes were investigated, namely 125 microns and 106 microns. On average the gold recovery in the Knelson MD3 laboratory concentrator was higher for the finer grind and averaged 77.78% versus 76.4% for the coarse grind. The gravity concentrate was subsequently intensively leached for 8 and 12 hours, with the 12 hour recovery being substantially better. The gravity tailings were leached, using a carbon-in-leach ("CIL") method, to recover the remaining gold and the results indicated that the 24 hour retention time in the plant circuit will be adequate. Overall recoveries, taking into account gravity recovery, intensive leach recovery and CIL recovery, were calculated and averaged 94.7% for the Lavrinha samples and 93.2% for the Pau-a-Pique samples. The hydrometallurgical testwork on the Ernesto samples is ongoing and thus are not being reported at this time, however, it is anticipated that the metallurgical performance of the Ernesto ore will be similar to the ore coming from Lavrinha and Pau-a-Pique deposits. The existing gold processing plant is located next to the Ernesto underground deposit and is designed to treat up to 1 million tonnes per year ("Mtpy") of ore feed. The flowsheet is based on a low-risk proven technology configuration for processing gold bearing ore feed. A primary crusher is located at the front-end of the process plant. ROM ore feed will be blended and fed through the plant's primary screen. The screen oversize is crushed and the combined crushed ore feed is ground in a single-stage, closed-circuit Semi-Autogenous Grinding ("SAG") mill. Approximately 25% of the mill cyclone underflow feeds a gravity-gold recovery circuit. The grinding circuit product is thickened and subsequently pumped to a leach tank that is followed by six CIL tanks in series. CIL tailings are treated in a cyanide reduction tank where cyanide is chemically decomposed before disposal as tailings. Final tailings are pumped to a nearby tailings storage facility. Loaded carbon, recovered from the first CIL tank, reports to the desorption area where gold is stripped from the carbon into a solution and electroplated from solution onto stainless steel cathodes. Dried cathode sludge and flux are mixed and smelted to produce gold doré. The development of Pau-a-Pique mine, including the Ernesto process plant and site infrastructure, was effectively completed by the previous owner at the end of 2012. Therefore, the capital cost requirements of the Project are considerably low. The Lavrinha open pit is a contracted mining operation and the selection of the mining contractor has, after a rigorous competitive bidding process in Brazil, been completed. Therefore, there will not be material capital costs associated with the operation of the Lavrinha open pit. The Ernesto underground mine will benefit from the transferring of the existing Pau-a-Pique's mobile fleet and infrastructure since these two deposits have been scheduled sequentially. The Ernesto mine design is compatible with the existing underground mining equipment at Pau-a-Pique. The existing tailings storage facility will undergo an additional three metre raise to increase its capacity for another two years. The design of this raise was originally done by DAM Engenharia do Brazil and it is currently being re-evaluated and validated by Tierra Group. In late 2014 the Pau-a-Pique mine was placed on care and maintenance. The existing infrastructure and installations are functional and require minimal work before mining recommences. Sustaining capital expenditure over the mine life includes completion of outstanding work such as: Total initial and sustaining capital for the LOM is estimated at US$7.8M (Table 1). The closure cost for Pau a Pique underground mine has been included in the consolidated cash flow and is estimated at US$1.7M. It is anticipated that the development of the Ernesto underground gold mine will commence once the Pau-a-Pique mine's lateral development has been completed. Within the current evaluation of the Ernesto underground project, additional mobile equipment has been included to achieve the mine production schedule and those units will be purchased/leased. As per the current mine plan and schedule Ernesto reaches full production after approximately six months from commencement. During this period mining mainly consists of ore development and primary stope extraction. To expedite the planned production the Ernesto underground mine will be accessed via a twin ramp concept, with a Hanging Wall ("HW") development drift which will be primarily for definition drilling and ventilation, and a main access ramp which will serve as a main haulage and fresh air intake. This arrangement will create a loop for traffic fluidity and will fulfill ventilation and secondary egress requirements. The total capital cost for Ernesto has been estimated at approximately US$22.97M which includes capitalized development, sustaining capital, allocated labour, and mobile equipment capital for the duration of the mine life. The capitalized development portion has been estimated at approximately US$11.49M which will be required to fully develop the Ernesto underground mine including US$4.53M for pre-production and the remaining US$6.96M as sustaining capital costs required until the mine ceases operation. The closure cost for the Ernesto underground mine has been included in the consolidated cash flow and was estimated at US$3.0M. Sustaining capital expenditure for the remainder of the mine life includes: A summary of total capital costs including pre-production and sustaining for the LOM at Ernesto is US$23.0M as outlined in Table 2. The Lavrinha operation is fully contracted and does not incur in any material capital costs. Aura Minerals, using its many years of operating experience in the region, selected a reputable and reliable mining contractor for this operation. The gold processing plant was commissioned in 2012 which includes a state-of-the-art distributed control system and all associated instrumentation with all components currently being fully functional. Lavrinha includes an allowance of US$4.5M for sustaining capital over the 5.5 year LOM. The existing tailings dam facility has storage capacity for one year of operation and the next dam raise was engineered by DAM Engenharia from Belo Horizonte. The estimated costs for the next raise are US$1.5M and the subsequent raise is estimated at US$2.1M for a total cost of US$3.6M over LOM. Operating cost estimates have been developed from first principles, utilizing historical advance rates, updated contractual rates for haulage, new consumables quotes and an up-to-date study on Aura's labour rates. A summary by cost area is presented in Table 3. Costs of other inputs into the mining operations, including provision of power, water and services, are based on existing contract rates with external suppliers and estimated consumption rates. Operating cost first principle estimates have been built utilizing advance rate cycles for each heading that were applied against scheduled quantities. A summary of the Ernesto operating cost estimates is presented in Table 4. Ernesto labour costs have been based on scheduled manpower requirements for the operations, in line with Aura's organizational chart. Salaries and benefit structures are calculated in accordance with current prevailing salary structures in Brazil for the prescribed employment positions. The salary structures and labour rates are compliant with the provisions required under Brazilian tax law. All-in costs have been factored into the labour rates, including bonuses, overtime, sick leave, allowances for vehicle and accommodation (where relevant), annual leave, and health insurance and medical provisions. Ernesto and Pau-a-Pique mining costs have been developed based on a schedule of first principle developed rates for underground production, development and diamond drilling. Costs of other inputs into the mining operations, including provision of power, water and services, are based on existing contract rates with external suppliers and estimated consumption rates. The Lavrinha open pit is a contracted operation and the costs associated with ore production and waste movement have been set as presented in Table 5. Aura Minerals has been actively mining in this area of Brazil for over half a decade utilizing mining contractors. The plant operating costs were estimated for different work regimes (i.e. shifts) and using updated quotes for key consumables and historical data. Process consumables and reagents for the process plant have been calculated on budgeted consumption rates and pricing provided by suppliers for initial first fill supply. Maintenance costs have been estimated on planned maintenance requirements for ongoing operation of the process plant. Gold doré bar freight and refining costs have been based on historical costs and are subject to market adjustment. Labour costs were defined after a "Pesquisa de Remuneracao e Beneficios" (i.e. Salary survey) was launched by Parametro RH, a Human Resources Company based in Sao Paulo, Brazil in early 2016. This survey provided average, maximum and minimum salaries and benefits for more than 150 employment positions based on eleven active mining companies operating in Brazil. The total payable for gold is 99.99% and the refining costs are estimated to be US$5.63/oz of payable gold. The gold transportation costs are estimated at US$9.44/oz of recovered gold (e.g. saleable gold). In addition to each mine's G&A, there is a total Project G&A for all general administrative costs that are shared by the three mines. This G&A was estimated as a fixed cost of US$344k per month as long as two mines operate in parallel and US$305k per month when only one mine operates, as shown in Table 7. On August 3, 2016 Aura filed an NI 43-101 Mineral Resource Estimate technical report on SEDAR, entitled "Technical Report and Updated Resource Estimate on the EPP Project, Mato Grosso, Brazil", dated effective May 25, 2016. The report contained the following Mineral Resource statement: Mineral reserves for the Project as of an effective date of July 31, 2016, are as follows: All infrastructure, which includes access roads, power and fresh water were fully built by the previous Project owner and has been preserved. The Project area is suitable for year-round mining, and has adequate access infrastructure that was developed during the previous 2013-14 operating period. Minor road maintenance work has been identified and will be carried out in late 2016. Aura is updating the landowner agreements for resumption of ore haulage along an approximate 47 km stretch of the existing access road between Pau-a-Pique and state road BR-174. This process is well underway and no impediments are anticipated. The Project's electrical substation is connected to the National grid through a 138kV power line. The Project substation provides 34 kV power (primary voltage) and 13.8 kV (secondary voltage) to the entire project, including the Pau-a-Pique underground mine. The total contracted capacity is 8.0 MW, which is considered sufficient to support the future operation of the Project. The Company engaged Tierra Group International, an internationally recognized tailings engineering firm, to review the current Tailings Storage Facility's ("TSF") design and construction history; and based on the review, design future TSF expansions. The historical review is complete wherein Tierra Group found the existing TSF to have been designed and constructed using satisfactory industry standards of care to support initial operations. Tierra Group is currently advancing a detailed engineering investigation and design to expand the TSF in support of the Study. Aura has existing surface rights over most of the Project area either via direct ownership or agreements with landowners. Negotiations are in process for a remaining parcel in Lavrinha and a small portion of the Pau-a-Pique project area. There are no communities or permanent dwellings within the Project footprint. Just under 234 ha of the Ernesto site's surface property held by the Company is a designated Legal Reserve, in compliance with the Brazil Forest Code's provisions pertaining to conservation for native vegetation in rural properties. Maintenance, monitoring and security of the Reserve are the responsibility of the Company. Additional project disturbance is primarily for Lavrinha mining and waste rock storage is estimated to be in the order of 55 ha. Much of the Lavrinha pit area has been previously affected by smaller scale mining by others. It is expected that noise, dust and vibration emissions from Project operations will be similar in scale to emissions during the 2013 to 2014 operating period. Underground mining will utilize both cemented rock fill and non-cemented waste fill in order to optimize ore recovery, and is not expected to generate waste rock for disposal at surface. The backfill process lessens the Project footprint and is also expected to minimize the potential for surface subsidence. Acid rock characterization studies were conducted by the previous operator using samples consisting of a drillhole interval of mineralization along with the immediately adjacent 1m of non-mineralized material. Three of the 25 Ernesto sample results and three of the 10 Pau-a-Pique sample results indicated potential for acid rock drainage. The Project cost model provides for additional test work in 2017 for tailings and waste rock. A review of monitoring data indicates that the Company is complying with the monitoring, inspection and surveillance programs stipulated in operating licenses for Ernesto and Pau-a-Pique. Water quality monitoring results indicate that the existing facilities meet or exceed applicable federal effluent and receiving water standards. Estimated fresh water consumption during the Project's normal operation is 70.6 m3/h, below the permitted license limit of 100 m3/h from the existing water intake. Approximately 130 m3/h is expected to be recycled from the tailings impoundment to the process plant. Discharges from the Ernesto site include controlled releases of excess tailings impoundment water, in order to maintain sufficient freeboard at all times. These planned releases are expected to occur on an as-required basis throughout the Project life. The Company reports that the most recent impoundment water release occurred from July 8 to August 18, 2016 and totalled 243,242 m3. Water discharges at Pau-a-Pique includes excess water from underground dewatering, and a minor quantity of effluent from its permitted sewage treatment plant. Project closure costs are estimated at US$6.0M, with an additional US$1.0M allocated for supporting studies. The cost model assumes some closure-related expenditures during the operating period for studies and closure plan updates, as well as for decommissioning of completed mine areas such as the Pau a Pique underground workings. The Ernesto site has a native plant nursery with facilities for seed collection, processing and storage, composting, and propagation of up to 60,000 plants per year. The Project has the required permits and authorizations to resume and continue mining operations at the Lavrinha open pit and the Pau-a-Pique underground mine, as well as to process ore at the Ernesto plant. Pau-a-Pique had its Mining Concession (Portaria de Lavra) granted on December 27, 2013. The Mining Concession for Lavrinha was requested on August 21, 2016 and is under review by the Nacional de Producao Mineral ("DNPM"), which is expected to be granted soon. While the analysis of the application for the Mining Concession is not concluded, the Project obtained, on September 9, 2016, a special authorization (Guia de Utilização) to mine up to 50,000 t of ore. This authorization can be renewed for additional 50,000 t of ore before the granting of the definitive Mining Concession. The Project has valid environmental licenses for both Lavrinha and Pau-a-Pique. The permits (Certificados de Registro - CR's) for use of explosives and chemicals at Ernesto, and for use of explosives at Pau-a-Pique were issued on September 29, 2016. Once the definitive Mining Concession has been issued, other pending authorizations for continued mining in Lavrinha including its definitive operating license and permit to construct a separate waste rock storage facility adjacent to the open pit, are anticipated to be issued from the State environmental authority. The Company believes that the selected mining sequence will provide sufficient cashflow to support a majority of the internal financing for the Project. The Company is also considering options with respect to advancing with Project debt to partially fund and accelerate Ernesto through development to production. The Project has two new areas, Nosde and Japones, for development in 2017 and 2018 which may eventually become replacement open pits once Lavrinha is depleted. There is also a third area (e.g. Pombihnas) and other additional concessions in the area that are currently under exploration. The technical information included in this press release has been prepared, reviewed and approved by Fernando A. Cornejo M. Eng., P.Eng. (the Company's Vice-President, Projects), Eugene Puritch P.Eng. (President, P&E Mining Consultants), Richard Routledge M.Sc., P.Geo., (Sr. Associate Geologist, P&E Mining Consultants Inc.), David Orava M.Eng, P.Eng, (Sr. Associate Mining Engineer, P&E Mining Consultants Inc.), Alexandru Veresezan P.Eng, (Sr. Associate Mining Engineer, P&E Mining Consultants Inc.), Matt Fuller P.Eng. (Tierra Group International Ltd.), Graham Holmes P.Eng. (Snr. Metallurgical Engineer, Jacobs), Diane Lister M.A.Sc., P.Eng. (Altura Environmental Consulting), and Marcelo Batelochi Ausimm, (CP) (Geologist, MCB Consultants). This news release contains certain "forward-looking information" and "forward-looking statements", as defined in applicable securities laws (collectively, "forward-looking statements"). All statements other than statements of historical fact are forward-looking statements. Forward-looking statements relate to future events or future performance and reflect the Company's current estimates, predictions, expectations or beliefs regarding future events and include, without limitation, statements with respect to: the Project and the Report (including but not limited to, the mineral resources and mineral reserves). Often, but not always, forward-looking statements may be identified by the use of words such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements in this news release are based upon, without limitation, the following estimates and assumptions: the presence of and continuity of metals at the Project at modeled grades; obtaining and maintaining the various permits required, the capacities of various machinery and equipment; the availability of personnel, machinery and equipment at estimated prices; exchange rates; metals and minerals sales prices; appropriate discount rates; tax rates and royalty rates applicable to the mining operations; cash costs; anticipated mining losses and dilution; metals recovery rates, reasonable contingency requirements; and receipt of regulatory approvals on acceptable terms. Known and unknown risks, uncertainties and other factors, many of which are beyond the Company's ability to predict or control could cause actual results to differ materially from those contained in the forward-looking statements. Specific reference is made to the Company's most recent Annual Information Form and the MD&A for a discussion of some of the factors underlying forward-looking statements, which include, without limitation, gold and certain other commodity price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the mineral exploration and development industry. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.
News Article | November 23, 2016
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 23, 2016) - Canada Carbon Inc. (the "Company") (TSX VENTURE:CCB) (FRANKFURT:U7N1) is pleased to provide an update on its progress towards the permitting and financing for a marble quarry and a graphite mine on its flagship Miller Project in southwestern Quebec. Amendments made by the Quebec government to the Mining Act were proclaimed in force on December 31st, 2015, while certain Regulations to the Act applicable to small mining projects (less than 500 tonnes/day, non-metallic ore) were made public in September, 2016. Our review of the changes indicates that there will be an impact on the sequence in which the Company will receive the required approvals. However, these changes will not affect either the overall timelines to complete the permitting process or the subsequent development of production capability for either the marble quarry or the graphite mine. In contrast to the timelines published in the Company's Preliminary Economic Assessment ("PEA") filed to SEDAR on April 14th, 2016, the quarry permit will now be issued after land use and environmental approvals have been obtained. Also, the community consultation and social impact assessment for the graphite mine will now be conducted as part of the revised mining lease application process, in accordance with the new Mining Act Regulations for small mining projects. E. Richard Klue, B.Com, NHD Ext. Met, a senior member of the Company's Technical Advisory Committee, advises, "In a series of press releases dated March 11th, 2015, October 29th, 2015, and March 7th, 2016, Canada Carbon has discussed its work programs to concurrently advance the permitting and engineering of the Miller Project. The changes to the Mining Act and its Regulations have substantially altered the specifics of the required permitting on more than one occasion. In contrast, the engineering development program has been progressively advancing towards feasibility level assessment. The Canadian Institute of Mining Definition Standards requires that a Pre-Feasibility Study ("PFS") includes a detailed trade-off analysis of various mine and mill parameters, in order to demonstrate a preferred methodology. Many of Canada Carbon's engineering programs have already advanced to Feasibility Study ("FS") levels of confidence, such that it no longer makes economic sense to publish a PFS-level Technical Report on the Miller Project. Moreover, the new permitting process will require certain elements of the documentation required for public consultation to be at the FS level. Therefore, Canada Carbon has elected to bypass the previously reported PFS, and will instead complete a FS on the Miller Project." The Company would also like to report that certain lands adjacent to the proposed Miller Project infrastructure and mine development areas reported in the April 2016 PEA have subsequently been formally removed from (maple) sugar bush reserve status. The release of this additional land for development will likely enable the Company to integrate the thermal upgrading treatment plant and processing facility with the proposed mining and graphite flotation concentration facilities at the Miller Project. The Company had previously planned to transport the graphite concentrate by truck to its property at Notre-Dame-du-Laus, where it had planned to develop its thermal treatment and product storage capacity. By locating all of its operations within its Grenville-sur-la-Rouge property, the Company expects to significantly reduce its projected operational and administrative costs. The Company has begun detailed negotiations to secure the funding required to meet the initial capital and operating expenditures for the Miller Project construction and development activities. The Company has met with Quebec government organizations tasked with funding resource development projects, as well as non-governmental agencies which invest in Quebec projects which will provide well-paying jobs in regions of the province with high unemployment. The Company has also begun the process of seeking asset-based capitalization through federal government business development agencies. Canada Carbon Executive Chairman and Chief Executive Officer Mr. R. Bruce Duncan remarked, "As the Company continues to develop its business plan for the production and sale of both the Miller Project's nuclear purity graphite and architectural marble blocks, we will move closer to finalizing the agreements which will provide the start-up capital for the Project, with as little dilutive impact on shareholders as possible. The PEA reported annual marble production at twice the volume required to fulfill the existing off-take agreement. We anticipate further market developments for the unallocated marble capacity as soon as the Company is fully permitted for production." Quarry Permit for the Extraction of Marble Blocks On November 21st, 2016, the Company provided the municipality of Grenville-sur-la-Rouge with a final copy of its application to the Commission de la Protection du Territoire Agricole du Québec ("CPTAQ") for the release of the Miller Project lands from protected agricultural land reserves. The application will be presented at the next public meeting of the Town Council to obtain its formal approval, on December 12th, 2016. Subsequently, the CPTAQ documents and the mine closure and reclamation plan will be made available to interested parties by CPTAQ as part of the approval process. The Company will also submit its application for a Certificate of Authorization ("CA") for quarrying activities so that it is reviewed in parallel with the application to the CPTAQ. Upon land use approval by the CPTAQ, the Company should shortly thereafter obtain the CA from the Ministry of the Environment, which will allow the Company to start pre-production activities at the quarry site, on or about April 2017. The quarry permit should be obtained from the Ministry of Mines by the end of May 2017, shortly after obtaining the CA, which will allow the Company to immediately begin the production and sale of architectural marble blocks. The Company expects to receive its updated graphite resource estimate from SGS Canada at some time during the next few weeks. This revised resource estimate will incorporate the results from the graphite mine infill sampling program, including an additional 47 diamond drill holes and 30 new bedrock channels (4,988 new assays in total), which will be used to upgrade inferred resources to the indicated or measured categories required for feasibility level economic analysis. The Company anticipates performing additional drilling over this winter to improve the definition of the Miller Project graphite mineralization, which will be used to complete a Feasibility Study in 2017. A Feasibility Study is required as part of the mining lease application. The Company has completed a preliminary mine closure and reclamation plan using the information provided in its PEA for inclusion in its CPTAQ land use application. The mine closure plan will later be updated using the information to be obtained from the FS process. In the same way, noise impact studies already underway will be finalized using the data from the FS process. Background hydrogeology tests have been completed, and the final studies will be conducted once the mine pit boundaries are fully defined. Geotechnical studies were completed using data obtained during the drill campaign performed in winter 2016, and will be updated for final design and approval of site infrastructure. Once these environmental studies are finalized, the Company will submit its application for a CA for its graphite mining activities. A review of the CA and the FS will be required before the Company will receive its mining permit. A formal survey of the perimeter of the mining lease is being reviewed for final approval by the Ministry of Energy and Natural Resources ("MERN"). No change to the development timeline is expected, and graphite mine production is still expected to begin on or about December, 2017. "Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
News Article | December 13, 2016
VANCOUVER, British Columbia, Dec. 13, 2016 (GLOBE NEWSWIRE) -- Pure Energy Minerals Limited (TSX-V:PE) (FRANKFURT:A111EG) (OTCQB: PEMIF) (the “Company” or “Pure Energy”) is very pleased to announce the initial results from Pure Energy’s recently completed innovative mini-pilot test work. The mini-pilot campaign was successful on all counts and demonstrated efficient recovery of at least 85% of the lithium from the tested brine. The mini pilot trial also produced battery-grade lithium hydroxide monohydrate. The Company sees this milestone as an important proof-of-concept for modern, efficient and environmentally sustainable lithium brine processing techniques without the use of evaporation ponds. The newly developed flowsheet will be a foundation of Pure Energy’s forthcoming Preliminary Economic Assessment (PEA), and it will constitute a key building block for a larger scale continuous pilot plant. A summary of the main findings is shown below, and greater detail will be provided in the forthcoming PEA. The testing work performed by Pure Energy and its technology providers Tenova Bateman Technologies (TBT) and SGS Canada evaluated a four-stage process: One of the most important work products of the mini pilot plant is a preliminary process flowsheet, a simplified version of which is shown below as Figure 1. The test work also supports several key performance indicators that warrant continued development and scale-up of the TBT Process for commercial scale lithium production at the Clayton Valley South Project (“CVS Project”): Figure 1 – Schematic Summary of Preliminary Flowsheet for Treatment of CVS Lithium Brine Patrick Highsmith, Pure Energy Minerals CEO commented, “The TBT and Pure Energy technical team has done some extraordinary work in this mini-pilot plant. Not only is this a proof-of-concept for the use of TBT’s new technology in lithium production, but the team collaborated and optimized the process on-the-fly. The flowsheet you see here is a significant improvement upon our projections from the bench scale tests, and we believe there is a great opportunity for economic application of this technology to commercial scale production. The preliminary estimates of lithium recovery by our process are at least a 70% improvement over the typical 50% recovery experienced by traditional evaporation. The current resource drilling that is underway at the CVS Project and the subsequent update to our mineral resource are the last precursor steps to our PEA. We look forward to more fully describing the project and its economics during Q1 of 2017.” The pre-treatment of the CVS brine to remove key interferents (particularly Ca and Mg) is a prerequisite if selective solvent extraction of lithium is to be used. The CVS lithium brine is an ideal candidate for the direct use of modern membrane technology as it has relatively low concentrations of Ca and Mg (compared to other brine deposits globally), and is not saturated with other solutes that may cause problems with membranes (e.g. gypsum). In order to test the use of membranes for pre-treating the brine ahead of solvent extraction, TBT tested a synthetic brine with the same composition as brine recovered during bulk sampling from exploration well CV-1 (from the CVS Project). They tested an array of commercially available membranes from several suppliers to determine whether the main interferents (Ca, Mg and Sr) could be effectively reduced to acceptable levels. The first part of the test work consisted of screening 8 different membranes in a flat-sheet configuration at an operating pressure of 60 bar, and evaluating how the various membranes transmitted lithium whilst rejecting alkaline earth elements. Following completion of the flat-sheet testing, TBT selected a single membrane based on its superior relative performance and proceeded with testing it in a spiral-wound module test rig, again at 60 bar. The recently completed test work demonstrated that even in a relatively simple, ‘single-pass’ arrangement (i.e. brine being passed once through a single set of membranes), approximately 85-90% of the lithium is recovered, while at the same time, approximately 91% of Mg, 90% of Ca and >99% of Sr are rejected. These data are extremely encouraging and validate the use of modern membrane technology to pre-treat CVS brines. Additional test work is ongoing to further refine and optimize the use of membranes prior to continuous testing in a full pilot plant configuration, including evaluation of variable pressure across the membranes and the use of anti-scalants in the process. The next stages of work are being completed by TBT and their partner, GE Water & Process Technologies. In a parallel phase of pre-treatment test work (performed by SGS Canada), the lab treated CVS brine (actual raw brine sample from CV-1) with additions of caustic soda (NaOH) and soda-ash (Na CO ) to determine whether direct chemical precipitation could be used to remove divalent contaminants. This work successfully demonstrated that >99% of Ca, Mg and Sr could be removed through careful pH control with negligible loss of lithium through co-precipitation. Subsequent work was completed using a High Density Sludge (HDS) circuit that allowed semi-continuous operation over 3 ½ days to investigate whether the solids produced by the direct chemical precipitation could be aggregated and thickened (using a flocculant), and then removed from the brine flow. This phase of work also showed excellent results, and resulted in a steady-state process that produced brines with Ca levels reduced to 2 mg/L, and Mg and Sr both <1 mg/L, also confirming very low lithium losses. While it is unlikely that direct chemical precipitation would be used in isolation to remove divalent impurities from the CVS brine (owing to relatively high reagent costs), it is likely that some form of this unit operation will be used after the membrane step to polish the permeate and raise its pH to target levels prior to feeding the lithium solvent extraction circuit. The primary aim of the solvent extraction (LiSX™) part of the process, which forms the core of TBT’s and Pure Energy’s modern approach to the CVS brines, is to selectively extract lithium from the pre-treated brine and at the same time, effectively concentrate the lithium into the high purity stream exiting the SX stage. This solvent extraction step is composed of three parts: (1) introduction of the pre-treated brine to fresh barren solvent; (2) scrubbing the loaded solvent with a weak acid solution to clean the solvent of any low concentrations of co-extracted cations; and (3) stripping the lithium from the clean, purified solvent to produce a high purity lithium sulphate solution and generate a clean unloaded solvent that can be recycled back to the start of the SX loop. All of the SX test work was completed by TBT at their test facility in Katzrin, Israel, and was performed in a mixture of 40 mm and 100 mm diameter, 7 m tall Bateman Pulsed Columns. The initial work looked at optimizing the extraction of Li into TBT’s proprietary solvent by adjusting the pH of the brine entering the column, and adjusting the ratio of solvent to brine contact in the pulsed column. The tests demonstrated that optimal mass transfer of lithium from brine into solvent was achieved by adding 1.35 g/L of NaOH (on dry basis) to the input brine, and with the extraction column working in an ‘organic continuous’ mode i.e. discrete droplets of brine pulsing down through a continuous solvent matrix. Operation under these conditions resulted in theoretical maximum extraction of Li into the solvent (Li concentration of 1,750 mg/L in the solvent), plus a raffinate (the ‘waste’ brine) containing Li at concentrations below the available method detection limits (<3 mg/L); hence lithium was concentrated by a factor of 9 during the initial extraction process. Scrubbing of the loaded solvent was tested using a weak acid solution (0.6% H SO ) in an ‘aqueous continuous’ mode (discrete droplets of loaded solvent pulsing upwards through a continuous matrix of aqueous scrub solution). The resulting scrubbed solvent contained effectively only lithium, with all other potential contaminants (Na, K, B etc.) present at concentrations below method detection levels (<3 mg/L). The loaded and scrubbed solvent was stripped of its lithium using sulphuric acid in ‘aqueous continuous’ mode. The acidic strip solution is the spent electrolyte generated during the subsequent electrolytic stage (see below), and therefore requires little or no additional reagents. Following stripping, a lithium sulphate solution is formed with effectively-neutral pH (7.7) and at a concentration close to saturation. At the end of the three-step LiSX™ process, the SX product going into electrolysis had a purity greater than 99.9%, and had concentrated Li by a factor of approximately 38 times. Lithium measured in residual solutions throughout the SX circuit was below detection levels, indicating that Li conservation through this stage approached 100%. The electrolysis stage (LiEL™)of the process is designed to convert a high purity lithium sulphate solution into a high purity lithium hydroxide solution. The reason for doing this is partly based on Pure Energy’s strategic view on demand vs. supply dynamics for lithium hydroxide monohydrate in the coming decades, and also on Pure Energy’s conditional supply contract with Tesla, which envisages delivery of battery-grade lithium hydroxide monohydrate to supply the Gigafactory. The electrolysis testing work was completed by a sub-contractor to TBT, and was performed using TBT’s novel two compartment electrochemical cell process (see Figure 2 below). The first phase of the testing evaluated potential membranes suitable for a mixed sulphate/hydroxide environment, and a very specialized candidate membrane was shown to exhibit superior performance. The selected membrane was formulated to limit hydroxide transport, while still allowing lithium to migrate through it. The second phase of testing looked at optimizing current efficiency in the cell while varying the concentration of lithium hydroxide in the catholyte. The results from this stage of the test revealed that the optimal current efficiency of 80% was reached in the cell with a solution of 3-3.5M lithium hydroxide concentration. Above these concentrations, the current efficiency started to drop to unsatisfactory levels. The team also determined that constant operating temperatures in the cell of approximately 60°C resulted in the best efficiencies (note that the cell was effectively self-heating due to the currents used during electrolysis and the internal resistance). After testing in the cell in batch and continuous modes, TBT found that steady state operation could be readily achieved, producing 3M LiOH solution at the cathode, and the required sulphuric acid solution, suitable for recycling back to act as the stripping agent for the SX phase. Figure 2 - Conceptual Diagram of Electrochemical Cell Used during Testing An intermediate purification step between the SX stripping and the electrolysis was also contemplated during the mini-pilot testing work. The team recognized that ion exchange (IX) may be required to remove any divalent and monovalent cations that are collected and concentrated by the solvent exchange process. While the concentrations of these contaminants are not expected to be high, appropriate test work has been performed in a dedicated testing facility in Plainfield, IL, to evaluate IX as a means of purifying the SX strip solution should it be required. To test the feasibility of this interim step, a synthetic solution was prepared and several types of resins were evaluated. The results demonstrated that the effluent from the SX step, treated with a specific IX resin, meets or exceeds the purity specifications for the electrolysis step. These initial performances are promising, and suggest that if the full-scale pilot plant is run with natural brine from the CVS Project, it will be feasible to include an IX step to ensure that the lithium sulphate solution entering the electrochemical cell will be of the highest purity. The final stage of the process was to concentrate the 3M lithium hydroxide solution produced by the electrolytic step using evaporation until it reached saturation, producing Lithium Hydroxide Monohydrate crystals from the solution. The crystals were separated and washed using a centrifuge process and then dried in an inert atmosphere to avoid carbonation. This test work was performed by a sub-contractor to TBT at a dedicated testing facility in Plainfield, IL. The crystallization test work commenced with a synthetic lithium hydroxide solution having an inferior composition to that produced by the electrolysis test work. The work was conducted at bench scale, and high quality Lithium Hydroxide Monohydrate, complying with battery-grade criteria (crystal shape, particle size and purity) was produced. The process is designed such that the potential for significant lithium loss from the system is limited to the first half of the circuit. The likely areas for any potential minor lithium losses are: in the pre-treatment stage, where a portion of the brine is rejected by membranes for discharge back to the basin, or by entrainment with calcium carbonate and magnesium hydroxide during the polishing step. The process is designed to capture most streams for recycling back into the process. After the first stage of SX extraction, all bleeds and washes of solutions from the process are looped back into the process at various points, and hence, will not result in any lithium loss from the system. Test work completed during this mini-pilot program has demonstrated that the only real loss of lithium from the process is caused by the efficiency of the membrane at the pre-treatment stage (LiP™). As such, the flowsheet described above can be expected to recover 85-90% of the lithium from the raw feed brine. It is possible that recovery can be improved and such possibility will be investigated during operation of a full pilot plant. Notwithstanding possible future increases in efficiency, recovery of 85-90% of the lithium is extremely encouraging given oft-quoted industry figures of maximum 40-60% efficiency at all lithium brine plants operating today. Dr. Ron Molnar, Professional Metallurgical Engineer (Ontario P.E.# 100111288), is a qualified person as defined by NI 43-101, and has reviewed and approved the scientific and technical information that forms the basis for this news release. Dr. Molnar is independent of the Company. About Pure Energy Minerals Ltd. Pure Energy is a lithium resource developer that is driven to become a low-cost supplier for the burgeoning lithium battery industry. While the Company is currently focused on the development of the CVS Lithium Brine Project and the adjoining Glory Lithium Clay Project in Clayton Valley, Nevada, it is actively evaluating new lithium targets in North and South America. Pure Energy has developed core strengths in innovative development and processing technologies for lithium brines and lithium mineral deposits. The Company’s key attributes and activities include: On behalf of the Board of Directors, “Patrick Highsmith” Chief Executive Officer Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release may include statements regarding mineral processing, adaptation of test work to larger scale and/or future operational scales, estimates of reduced future capital and operating expenses, delivery of a preliminary economic assessment, future exploration programs, operation plans, geological interpretations, and mineral tenure issues. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
News Article | December 8, 2016
TORONTO, ONTARIO--(Marketwired - Dec. 8, 2016) - Signature Resources Ltd. (TSX VENTURE:SGU)(OTCQB:SGGTF) ("Signature" or the "Company") is pleased to announce results from 12 of 22-holes from its on-going historic core re-evaluation program. The results to date, have successfully demonstrated the validity of the historic data, and the high-grade nature of the Lingman Lake deposit. Hole 87-54 returned a current assay of 140.14 gpt (4.09 opt) along a core interval of 1.6-feet within a wider interval of 5.6-feet which includes 3.6-feet of 71.34 gpt (2.08 opt) resulting in a calculated weighted average of 92.51 gpt (2.69 opt). This assay of 140.14 gpt (4.09 opt) essentially matches the historic value for this 1.6-foot sample of 146.40 gpt (4.27 opt). The historic core re-evaluation program consists of a subset of 22-holes from 177-drilled between 1987-89 and are representative of the deposit along a strike of 1,000-meters and a width of 225-meters. Zone categorization is pending and detailed maps will be posted on the company website in the near future. Results for the remaining 10- holes are pending. Exclusive of standards, 566-samples were analyzed for gold and multi-element, of which 274-samples (48%) duplicated historic sample intervals. A correlation by regression analysis of gold values comparing historic assays to current assays, was completed by independent QA/QC consultant, and is reported to have an excellent correlation producing an R2 value of 0.965 (1.0 being perfect positive correlation). Only 2.6% of the samples are dissimilar which is due to the influence of nugget effect of gold on high grade values. Highlights of 2016 weighted gold average intervals are tabled below. For the sake of clarity with respect to historic interval sampling, imperial measurements of length have been retained. A comprehensive table of assay results and intervals comparing the historic data (1987-88) with the current (2016) data is provided at the end this release. Notes: gpt is grams per tonne, opt is oz per short ton, W Avg is weighted average. Intervals are core length. "We are extremely pleased with this first set of assay results from the archived drill core, as they not only support the historic data and the high-grade nature of the deposit, they have also demonstrated that gold mineralization occurs over significant widths. We now have current data which reinforces our confidence in the up-side potential of the gold deposit, allowing the company to proceed beyond exploration, to developing an asset, by upgrading its historic estimate of 234,684 oz and expanding it with a program of detailed diamond drilling. We are also looking forward to receiving the assay data from the remaining holes to augment these results," commented Walter Hanych, President and CEO. The scientific and technical content of this press release has been prepared, reviewed and approved by Mr. Walter Hanych, P.Geo. President and CEO of Signature Resources, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Gold and multi-element analyses were performed by SGS Canada Ltd. Gold assays were performed at their Red Lake facility, adhering to a Quality Management System that meets, as a minimum requirement, ISO 9001 and ISO/IEC 17025 standard. In addition to the laboratories internal quality management system, an independent Quality Assurance-Quality Control (QA/QC) of the assays was commissioned by Signature Resources which was implemented and monitored by J. Selway, Ph.D. P.Geo. of Caracle Creek International Consulting Ltd. (CCIC). Standards inserted at the core sampling stage into the sample stream and analyzed by the laboratory were scrutinized by CCIC for reproducibility by the laboratory. The Lingman Lake gold property consists of four free hold patented claims and the twelve staked claims, comprising 606.8 hectares. The property hosts an historic estimate of 234,684 oz of gold* and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths. * This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101-compliant mineral resource estimate. Accordingly, this historical estimate should not be relied upon. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, "Technical Report on the Lingman Lake Property" dated December 20, 2013, prepared by Walter Hanych, P.Geo., and Frank Racicot, P.Geo., available on the Company's SEDAR profile at www.sedar.com. To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
News Article | November 17, 2016
OTTAWA, ONTARIO--(Marketwired - Nov. 17, 2016) - Stria Lithium Inc. (TSX VENTURE:SRA)(OTCQX:SRCAF) ("Stria" or the "Company") is pleased to report that further metallurgical testing confirm 88g per tonne (Ta) tantalum metal in bulk samples extracted from its wholly owned Pontax Lithium Project in the James Bay Region of Northern Quebec. Widely used in cell phones and computers and other consumer electronics, tantalum is also used in nuclear reactors, aviation components, medical implants and surgical devices. The United States, Canada and the European Union have designated tantalum emanating from the largest tantalum producing countries in Africa as a conflict metal. Initial metallurgical testing results on Pontax spodumene concentrate by SGS Canada Ltd. (SGS) published on May 24, 2016, showed a highly favorable result that supported the Company's decision to continue its investigation and exploration of the Pontax property. (See news release filed on SEDAR). Those tests support the metallurgical viability of Pontax spodumene as a feedstock for the production of high value, in-demand lithium metal and high-grade lithium compounds for lithium battery applications and other lithium products for technology applications using Stria Lithiums proprietary process. Subsequent metallurgical investigations performed by SGS discovered significant concentrations of tantalum, feldspar and quartz in the Pontax mineralization. Further metallurgical investigation for additional recoveries of tantalum from Pontax spodumene waste materials are now planned. Stria holds in-house developed, proprietary technologies that remove upstream obstacles to enable downstream production of lithium metal, lithium carbonate or hydroxide using conventional metallurgical processes. SGS confirmed the presence of tantalum (88g/t Ta) in the as received trench samples by whole rock analysis. The present flowsheet to produce a combined spodumene concentrate assaying 6.3% Li O with an 85% overall lithium recovery incorporates dense media separation - magnetic separation and flotation. During magnetic separation for removal of iron bearing minerals from both DMS and flotation feed ores, Tantalum bearing minerals are naturally recovered in the magnetic concentrates. These combined concentrates represent almost 39% of tantalum in the feed mineralization at a concentration of 1275g/t Ta. Further testwork is now planned to upgrade this material as a potentially marketable tantalum concentrate through gravity concentration and/or selective flotation. As a further 38% of the tantalum is rejected in the final DMS gangue material, this stream will also be tested for Tantalum mineral recovery. Tantalum is a silvery metal that is soft in its purest form. It is almost immune to chemical attack at temperatures below 150 C. Tantalum is virtually resistant to corrosion due to an oxide film on its surface. Tantalum finds use in four areas: high-temperature applications, such as aircraft engines; electrical devices, such as capacitors; surgical implants and handling corrosive chemicals. Because of its anti-corrosive properties, Tantalum is widely used by chemical industries for heat exchangers in boilers where strong acids are vaporized. Preliminary laboratory flotation tests on spodumene flotation tailings have established the potential for recovery of a high grade quartz product assaying greater than 98% SiO2 and representing 25.4% of the flotation tailings volume. Two feldspar products have also been produced. A high grade product containing 34.3% microcline, 64.2 % albite and 1% quartz and a lower grade product containing 18.9% microcline, 76.5% albite and 4.6% quartz. The combined mass yield for these feldspar products represents 54.4% of the flotation tailings. Stria Mangement are encouraged that potentially 80% of the flotation tailings that would normally require disposal can possibly be marketed as quartz and feldspar products. Feldspar is a common raw material used in glassmaking, ceramics, and to some extent as a filler and extender in paint, plastics, and rubber. In glassmaking, alumina from feldspar improves product hardness, durability, and resistance to chemical corrosion. Quartz is economically important on a global scale and is one of the most widely used minerals in manufacturing, including glass for automotive, residential and industrial applications; as a flux in metallurgy; as an abrasive material and in building materials. By volume, the bulk of all commercially mined quartz is used in the construction industry as aggregate for concrete and as sand in mortar and cement. An initial roasting produces the β-spodumene used for Stria's process. Within a closed loop containing chloride compounds, the β-spodumene is mixed in a proprietary process environment. Impurities including iron, magnesium, vanadium, chrome, aluminum and silicates are eliminated, producing a high-purity lithium chloride concentrate. The unique advantage of Stria's process is that it removes upstream obstacles to enable downstream production of lithium metal, lithium carbonate or hydroxide using conventional metallurgical processes. Stria's process obviates the need for additional, cost-heavy refinery steps, making it potentially economically competitive. Moreover, the process permits the recycling and repeated re-use of chemicals, returning them to the start of the process -using fewer chemicals results in lower costs and effectively lowers the process's environmental footprint. Stria Lithium Inc. (TSX VENTURE:SRA) is a Canadian junior mining exploration company with an expanding technology focus and the sole owner of the Pontax spodumene lithium property in Northern Quebec. Stria's mission is to be a reliable, profitable global source for both lithium metal and lithium compound products and process technologies for producing value added lithium products. Stria's expanded business focus is on the application of in-house developed technologies and processes that lead to the production and milling of lithium metal and lithium metal foil for advanced lithium batteries. From the production of lithium metal also comes the value added production of: lithium hydroxide; lithium carbonate; lithium fluoride, and; lithium chloride. Lithium is a critical metal in the universal fight against global warming. It is a core component of Lithium-Ion batteries used for powering electric vehicles and for industrial scale energy storage. Towards its commercial goals, Stria has positioned itself as a partner in the 2GL Platform business alliance announced on May 18, 2016. 2GL Platform is a green energy technology strategic alliance with Grafoid Inc., Focus Graphite Inc., and Braille Battery Inc. (See news release filed on SEDAR). Mr. Oliver Peters, M.Sc., P.Eng, MBA, (Consulting Metallurgist for SGS and Principal Metallurgist of Metpro Management Inc.) is an Independent Qualified Person under National Instrument 43-101, and has reviewed and approved the metallurgical information of the SGS testwork provided in this news release. This news release may contain forward-looking statements, being statements that are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy of this release.
Mann A.,PO Box 778 |
Reimann C.,Geological Survey of Norway |
De Caritat P.,Geoscience Australia |
De Caritat P.,Australian National University |
And 2 more authors.
Geochemistry: Exploration, Environment, Analysis | Year: 2015
Two thousand one hundred and eight agricultural soils (0–20 cm depth) collected at a density of one sample per 2500 km2 under the auspices of the Geochemical Mapping of Agricultural Soils (GEMAS) project over most of the European continent have been analysed using the Mobile Metal Ion (MMI®) partial extraction technique with ICP-MS finish. For a number of elements, notably Ce, Ni, and Ca, coherent geogenic patterns have been observed which relate to underlying lithology. For Fe and Al, coherent patterns are also observed but the effects of weathering are evident, and provide a mechanism to explain the acidity of soils in high rainfall areas. Individual anomalies, many related to anthropogenic activity (mining, metallurgy, agriculture) have been observed for Ag, Au, Cu, Pb, Cd and Zn. Comparison of the results with aqua regia digestion and the equivalent National Geochemistry Survey of Australia (NGSA) provides insights into weathering processes and the concept of bioavailability. © 2015 AAG/The Geological Society of London.
Mann A.,PO Box 778 |
de Caritat P.,Geoscience Australia |
Prince P.,SGS Canada
Geochemistry: Exploration, Environment, Analysis | Year: 2012
Catchment outlet sediments (0-10 cm depth, sieved to <2 mm) collected at a very low density over most of the Australian continent have been analysed using the Mobile Metal Ion (MMI®) partial extraction technique. Of the 54 elements determined, eight are generally regarded as essential nutrients for plant growth: Ca, Cu, Fe, K, Mg, Mn, P and Zn. A further three, Mo, Ni and Se are considered significant micronutrients. Estimation of 'bioavailability' from MMI® analysis gives results comparable with standard agricultural measurements for many nutrients. Percentage 'bioavailability', operationally defined here as the ratio of MMI® concentration to total element concentration, has been investigated and ranges from 31% for Se to 0.1% for Fe. Smoothed (kriged) colour raster maps for continental Australia have been produced for these 11 nutrients and interpreted in terms of lithology (e.g. presence of carbonates in the MMI® Ca map), mineralization (e.g. known mineral districts in the Cu and Zn maps), environmental processes (e.g. salinity in K map, weathering and acid generation in Fe map) and agricultural practices (e.g. application of fertilizers in the MMI® P map). This first application of a partial extraction technique at the scale of a continent has yielded meaningful, coherent and interpretable results. © 2012 AAG/Geological Society of London.
News Article | November 10, 2016
TORONTO, ONTARIO--(Marketwired - Nov. 9, 2016) - Signature Resources Ltd. (TSX VENTURE:SGU)(OTCQB:SGGTF) ("Signature" or the "Company") is pleased to announce that an assessment of archived core stored at the Lingman Lake mine site has determined that the core is in remarkably good condition allowing for a detailed re-evaluation and sampling of it. 22 holes, totaling approximately 3,500 meters, representative of the gold mineralized zones, are being evaluated by a process of re-logging and sampling. The sampling component is two-fold; 1) sample past intervals for confirmation of historic results, 2) test sections of previously un-sampled core exhibiting geological-mineralogical characteristics for potential gold enrichment. The objectives of this program are: to confirm the historic database, potentially identify new zones and extensions to known zones. Gold and multi-element analyses will be performed by SGS Canada at their laboratory located at Red Lake, Ontario and quality assurance/quality control monitoring of the samples will be undertaken by the independent consulting firm of Caracle Creek International Ltd. "We look forward to receiving the assay results and re-logs of the core. This information will be invaluable in our assessment of the Lingman Lake deposit as we move forward to upgrading the historic resource to meet current 43-101 standards," commented Walter Hanych, President and CEO. Bob Komarechka, P.Geo., is a Qualified Person as defined by NI43-101 and is responsible for maintaining best practice in the field. The Lingman Lake gold property consists of four free hold patented claims and the twelve staked claims, comprising 606.8 hectares. The property hosts an historic estimate of 234,684 oz of gold* and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths. *Cautionary Note. The quantity reported as 'historical' estimate is historic in nature: A qualified person has not done sufficient work to classify the historical estimate as a current resource estimate. The issuer is not treating the historical estimate as a current resource estimate. Additional information concerning the historical estimate is contained within the 43-101 filed on www.sedar.com. To find out more about Signature Resources Limited, visit our website at www.signatureresources.ca. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
Banuta M.,SGS Canada |
Tarquini I.,SGS Canada
Journal of Failure Analysis and Prevention | Year: 2010
Three basic modes of failure are known for oil tanks: manufacturing defects, mechanical damage, and corrosion. Most of the tanks currently in use and manufactured in or prior to the 90s, are subject to leaking caused by internal corrosion. Corrosion-induced leakage always results in environmental damage by underground and/or aboveground oil contamination. Considering the costs related to decontamination and to replacement of residential tanks, the possibility of corrosion should be carefully addressed. To accomplish this task, the most common issues related to tank corrosion must be recognized and understood. This article is an overview of the corrosion mechanisms in aboveground residential tanks made of non-coated mild steel. © ASM International 2010.