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To: LoneClone who wrote (15887)5/12/2019 6:10:32 PM
From: LoneClone
   of 16598
 
[Vanadium]

Alba Enters into Definitive Agreement for Torado Vanadium and Uranium Project: 100% Interest in 5 Prospective Vanadium and Uranium Properties with Historic Production and a 6th Option for a Property with a Known Historic Resource

accesswire.com

Tuesday, May 7, 2019 1:55 AM


VANCOUVER, BC / ACCESSWIRE / May 7, 2019 / Alba Minerals Ltd. ("Alba") (TSX - Venture: AA / Frankfurt: A117RU / OTC: AXVEF is pleased to announce that it has entered into an agreement with Journey Exploration Inc. ("Journey"), a private arms' length company, to acquire all of the issued and outstanding share capital of Journey. Journey holds a 100% interest in 5 prospective vanadium and uranium properties in Colorado and Utah in addition to an option to acquire 100% of a 6th property with a known historic resource. The properties are in and adjacent to the Uravan Mineral Belt which has seen extensive prospecting, exploration, drilling for and production of vanadium, uranium and radium since 1881.

The following is an overview of the assets that will be acquired by Alba upon completion of the transaction with Journey.




Figure 1 – Satellite view of locations of the 6 vanadium-uranium properties transferred by the agreement.

La Sal West Property
The La Sal West Property is comprised of 176 vanadium and uranium claims (3636.16 acres or 1472 hectares) located in the La Sal District of San Juan County, Utah approximately 20 miles (32km) southeast of Moab, Utah. The property is near the junction of US Highway 191 and Utah Highway 46 and can be easily accessed via dirt roads and 4-wheel drive trails leading off the highways. The La Sal West Property has seen considerable exploration and development over the years.

Lyons Property
The Lyons Property is comprised of 144 vanadium and uranium claims (2975.04 acres or (1204 hectares) located in the La Sal Creek Mining District of Montrose County, Colorado and abuts the Utah-Colorado border. The claims are adjacent to Colorado Highway 90, which is an extension of Utah Highway 46. The property is accessible by 4-wheel drives off the highway. Nine mines are shown within the Lyons claim block on the geologic map of the La Sal Quadrangle*.

Polar Mesa Property
The Polar Mesa Property is comprised of 181 vanadium and uranium claims (3,739.46 acres or 1513 hectares) located in the Gateway West Mining District of Grand County, Utah which lie north of the La Sal mountains. The Polar Mesa Property has seen extensive exploration and development over the years, of which, the estimated production from the Polar Mesa Camp to 1945 was reported to be 10,060 tons of ore at an estimated grade of 3.24% V2O5 and 0.46% U3O8 for a ratio of 1:7 of U3O8 to V2O5**.

Slick Rock Property
The Slick Rock Property is comprised of 158 vanadium and uranium claims (2604.28 acres or 1054 hectares) located in the Slick Rock Mining District of San Miguel County, Colorado. The claims occupy an area of undulating topography on a mesa that is covered in the most part by open grassy areas and scattered short scrubby trees. Elevation ranges from 7,000ft in the north to 8,080ft (2,130m – 2,460m) in the south eastern corner of the claim group. The area is readily accessible by roads, tracks and drill trails established by previous miners and explorers of the Spud Patch Group of Mines. Production from the Spud Patch area between 1940 and 1951 is reported to have been 24,000 tons at a grade of 2.2% V2O5 and 0.21% U3O8.

Yellow Circle Property
The Yellow Circle Property is comprised of 96 vanadium and uranium claims (2045.34 acres or 828 hectares) located in the Yellow Circle Mining District of San Juan County, Utah. Total production from the Yellow Circle Property is unknown, but in 1943 the mines were credited with 1,624 tons of ore averaging 1.65% V2O5***. During the Atomic Energy Commission's purchase program, 1948-70 inclusive, the Yellow Circle Mines produced 43,070 tons of ore that averaged 0.28% U3O8 and 1.52% V2O5****.

Wray Mesa Property
The Wray Mesa Property consists or two project areas, the Ajax and Dylan Projects, in the La Sal Trend of southeast Utah and southwest Colorado. The Ajax and Dylan are both located on the Utah side. Both projects have historic resource calculations conducted by Homeland Uranium, Inc. in 2007. At that time Homeland was focused on the uranium mineralization due to its higher value. They calculated the resource values listed in Table 1.

Table 1 – Homeland Uranium Inc. historic resource estimates.


Deposit
Measured Resource
Pounds U3O8

Indicated Resource
Pounds U3O8

Inferred Resource
Pounds U3O8

Dylan

85,501

211,713

-

Ajax

38,207

57,178

40,456

As with other deposits in the region, these deposits also carry strong vanadium values with ratios ranging from 4:1 to 14:1 V2O5:U3O8 and averaging 6:1 for deposits in the La Sal Quadrangle (Carter and Gualtieri, 1965).

The above values are presented here as documentation of a historical estimate for the Wray Mesa property. It is believed that these resource figures were created in 2007 by competent practitioners and are considered accurate for the timeframe in which they were created but have not been verified. There is insufficient information for the Qualified Person to classify these historical estimates as a resource under current CIM mineral resource standards and Alba is not treating them as current mineral resources.



Figure 2 – One of many accessible adits on the Yellow Circle claims.

Together, the properties total 762 mining claims covering approximately 15,697 acres (6352 hectares). All six of the properties have undergone historical exploration, development and/or production of vanadium and uranium.




Figure 3 – Vanadium mineralization (dark grey to black coloration) in one of the Yellow Circle underground workings.

These five properties (with option to acquire the 6th, Wray Mesa Property) are collectively referred to as the Torado Vanadium & Uranium Project. which are located in the vicinity of Energy Fuels Inc. Energy Fuels is currently producing a high-purity vanadium product at commercial rates from the tailings pond solutions at its 100%-owned White Mesa Mill (the "Mill"). The Mill is located within trucking distance of the Properties. Furthermore, Energy Fuels is currently considering going back into full production at the La Sal Complex where they are undergoing a test-mining program to recover vanadium, as further detailed in their release dated April 1, 2019 and available through SEDAR.

"Alba's mission to become a global player in the Green Energy revolution has been significantly advanced by this acquisition. The procurement of this high-profile portfolio of properties, all with historical workings, mines, excellent infrastructure and significant data is exceedingly rare and makes Alba a major force in the vanadium/uranium exploration, development and production space in Utah and Colorado. This acquisition complements Alba's existing portfolio of lithium properties as well as our significant investment in Noram's 143 million ton lithium resource in Clayton Valley, Nevada" stated Sandy MacDougall, Chairman and Director.

Journey is presently comprised of 32,000,000 shares issued and outstanding. Pursuant to the share exchange agreement dated May 6, 2019, Alba will acquire all of the issued and outstanding shares of Journey, thereby making Journey its wholly owned subsidiary, in consideration for which, Alba will issue the equivalent number of shares of Alba to the shareholders of Journey, subject to TSX Venture Exchange approval

This transaction remains subject to TSX Venture Exchange approval.

*Carter and Gualtieri, 1965
** Atomic Energy Commission, 1951
*** Huleatt, et al. 1946
**** Chenowith 1983








Figure 4.- example of historic cart tracks inside mines.



Figure 5 – example of infrastructure & workings inside mines

The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc and Certified Professional Geologist, who is a Qualified Person with respect to the Torado Vanadium & Uranium Project as defined under National Instrument 43-101.

About Alba Minerals Ltd.
Alba Minerals Ltd. is a Vancouver-based junior resource company with projects in North and South America. Alba is focused on the development of the following mineral properties:

3,800,000 common share ownership interest in Noram Ventures Ltd., a lithium exploration and development Company with a principal property known as the Zeus Property which hosts a 146,000,000 ton inferred resource in Clayton Valley, Nevada.

The Quiron II Lithium Property consists of 2,421 hectares of prospective lithium exploration in the Pocitos Salar, Province of Salta, Argentina. The Property is located approximately 12 km northeast from the Liberty One Lithium Corp and 19 km from Pure Energy Minerals Ltd.'s Pocitos prospects.

The Chascha Norte property consists of 2,843 hectares of prospective lithium exploration in the Southeastern part of the Salar de Arizaro, Salta, Argentina in closest vicinity to Argentina Lithium & Energy Corporation's and Lithium X's Arizaro lithium brine projects.

The Rainbow Canyon Gold Property consists of 417 hectares of prospective gold exploration in the Olinghouse mining district, in the Washoe County Nevada.

The Muddy Mountain property consists of 450.41 hectares of prospective lithium exploration in Muddy Mountains of Clark County, Nevada.

Please visit our web site for further information: www.albamineralsltd.com .

ON BEHALF OF THE BOARD OF DIRECTORS

"Sandy MacDougall"
Chairman & Director
Phone: (778) 999-2159

This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward - looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management's estimates or opinions change.

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 adequacy or accuracy of this release.


SOURCE: Alba Minerals Ltd.

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To: LoneClone who wrote (15888)5/12/2019 6:13:42 PM
From: LoneClone
   of 16598
 
[Lithium] Lepidico and Desert Lion to Merge

newswire.ca

Desert Lion Energy May 07, 2019, 07:00 ET

Lepidico 1 for 9 Entitlements Offer to Fund Business Integration, New Development and Growth Opportunities

TORONTO, May 7, 2019 /CNW/ - Desert Lion Energy Inc (TSXV: DLI) ("Desert Lion") is pleased to announce that on May 5, 2019 it entered into a definitive arrangement agreement (the "Arrangement Agreement") with ASX-Listed Lepidico Limited (ASX: LPD) ("Lepidico") whereby Lepidico, an arm's length party from Desert Lion, will acquire all of the outstanding common shares of Desert Lion for 5.4 Lepidico shares for every 1 Desert Lion share (The "Transaction"). No finder's fee is payable in connection with the Transaction. The Transaction is anticipated to create a vertically integrated lithium development company from mine to chemical conversion plant by combining Lepidico's leading proprietary lithium processing technologies with Desert Lion's lepidolite Mineral Resources and extensive exploration package.

The agreed exchange ratio represents a premium of either 38% based on the closing price of Lepidico and Desert Lion shares on 3 May 2019 or 39% based on the 10 trading day volume weighted average price of the shares. Directors and officers of Desert Lion representing 17% of Desert Lion's shares on issue have entered into voting and support agreements to vote in favour of the Transaction.

Transaction Highlights

  • The Transaction will combine two companies with highly complementary assets to create an integrated lithium business which has:
    • Lepidico's innovative L-Max®, LOH-MaxTM and S-MaxTM proprietary process technologies and offtake arrangement with Mota Ceramic Solutions ("MCS") from the operational Alvarrões lepidolite mine in Portugal.
    • Desert Lion's Rubicon and Helikon deposits in Namibia and partially developed lepidolite concentrator. Mineral Resources – Indicated 3.0Mt @ 0.63% Li2O & Inferred 5.8Mt @ 0.53% Li2O (see section 14 of Desert Lion's NI 43-101 Technical Report dated November 28, 2018, as amended and restated on December 7, 2018, for more information);
    • Lepidico's pilot plant with L-Max® and S-MaxTM capability, which is in the commissioning phase, and the Phase 1 Plant Project, at the advanced stages of feasibility study which contemplates output capacity of 5,000tpa lithium hydroxide;
    • Battery grade lithium carbonate of 99.8% purity produced from Desert Lion lepidolite mineralisation in L-Max® amenability trial; and
    • Desert Lion's non-binding offtake agreement for lithium hydroxide with chemicals and materials multination corporation BASF SE.
  • Lepidico will also undertake a 1 for 9 pro-rata renounceable Entitlements Offer at an issue price of A$0.029 to raise up to A$10.8 million for business integration, new development and growth opportunities, with one (1) free attaching option for every two (2) new shares issued under the offer. The Entitlements Offer is scheduled to close on 29 May 2019.
  • The merged company will be called Lepidico Ltd and will continue to be headquartered in Perth, Australia. No changes to Lepidico's Board of Directors are planned.
Proposed Merger of Lepidico and Desert Lion

The Transaction will be effected by way of a statutory plan of arrangement pursuant to the Business Corporations Act (Ontario). Under the terms of the Transaction, Desert Lion shareholders will exchange each of their Desert Lion shares for 5.4 ordinary shares of Lepidico. Following the completion of the Transaction, Lepidico will maintain its primary listing on the ASX under the code "LPD", and the Desert Lion common shares will be delisted from the TSXV.

Each option of Desert Lion will be exchanged for a replacement option of Lepidico reflecting the exchange ratio and any outstanding warrants and convertible notes of Desert Lion will be adjusted to allow for the acquisition of Lepidico ordinary shares upon their exercise (also reflecting the exchange ratio). Desert Lion securityholders will hold approximately 15.9% of the shares in the combined company and 19.8% on a fully diluted basis (prior to the effects of the planned entitlements offer).

The Transaction is subject to regulatory, court, Desert Lion shareholder approval and Lepidico shareholder approval (if required), together with other customary conditions. The written consent of a majority of the holders of Desert Lion's convertible debt has been obtained and is a condition of closing of the Transaction.

Lepidico has received confirmation from ASX that the proposed transaction does not attract any requirements under Chapter 11 of the ASX Listing Rules. Lepidico will seek a waiver from Listing Rule 7.1 (in relation to the issue of securities the subject of the proposed transaction) on the basis that Listing Rule 7.2 (exception 5) should apply to the transaction. If the waiver is granted by ASX, Lepidico will not need to seek any shareholder approvals in relation to security issues to be made under the Desert Lion transaction.

As part of the process in the approval of the Arrangement Agreement, the directors of Desert Lion received an opinion from its financial advisor, INFOR Financial Inc., that the consideration to be received is fair, from a financial point of view, to shareholders of Desert Lion. Directors and officers of Desert Lion representing 17% of Desert Lion's shares on issue have entered into voting and support agreements to vote in favour of the Transaction. Convertible note holder, AIP Global Macro Fund L.P., has also indicated its support for the transaction.

A Desert Lion management information circular setting out the terms of the Transaction, as well as further information regarding the Transaction and the combined company, is expected to be circulated to all Desert Lion shareholders in June 2019. A special meeting of Desert Lion shareholders to consider the Plan of Arrangement is expected to be held in July 2019 and the Transaction is expected to be implemented in July 2019.

The Arrangement Agreement includes customary provisions, including a commitment by Desert Lion not to solicit alternative transactions to the Transaction, subject to the right of Desert Lion to accept a superior proposal in certain circumstances, with Lepidico having a five business day right to match any superior proposal. Each company has agreed to pay a termination fee to the other party equal to C$1 million in certain circumstances.

"The transaction with Lepidico represents a significant advancement for the Desert Lion Energy Project," commented Tim Johnston, CEO of Desert Lion Energy Inc. "The combination of Desert Lion Energy's lepidolite assets with Lepidico's advanced L-Max® and LOH-MaxTM processing technology will enable the acceleration of lithium chemical production."

Lepidico Managing Director Joe Walsh said, "Closing of these transactions announced today will be transformative for Lepidico. They will allow it to advance its technologies and projects, demonstrate the commercial viability of L-Max® and LOH-MaxTM, and hopefully become a globally significant, vertically integrated lithium chemical producer. The Desert Lion transaction will provide Lepidico with a direct controlling interest in its first quality lepidolite deposit under an awarded mining license, providing a clear path to development."

Following completion of the Transaction, it is expected that the combined company will conduct a feasibility study to establish mineral reserves and to determine the economic and technical viability of production.

Indicative timetable for merger completion




Announcement of the Transaction

6 May 2019

Dispatch of Desert Lion's Circular to Desert Lion shareholders

June 2019

Desert Lion Company Meeting

July 2019

Implementation of merger

July 2019




Summary of assets and attributes




Lepidico Ltd

Desert Lion Energy Inc.

L-Max®, LOH-MaxTM and S-MaxTM proprietary process technologies

Desert Lion Mineral Resources at Rubicon and Helikon deposits in Namibia of Mineral Resources – Indicated 3.0Mt @ 0.63% Li2O & Inferred 5.8Mt @ 0.53% Li2O plus tantalum credit (NI 43-101) (see section 14 of Desert Lion'sNI 43-101 Technical Report dated November 28, 2018, as amended and restated on December 7, 2018, for more information)

Pilot plant with L-Max® and S-MaxTM capability is in the commissioning phase – plant developed on schedule and within budget before contingency

10 year Mining Licence granted 20 August 2018 over 68.7km2 for mine and lithium mica concentrator development

Phase 1 Plant Project is in the advanced stages of feasibility study – engineering for Li2CO3 production complete, engineering for LiOH capability to commence June 2019

Prospecting Licences covering approximately 1,000km2, prospective for LCT type pegmatites

Phase 1 Plant Abu Dhabi location trade off study offers potential for fast track to development with enhanced economics versus Sudbury, Canada

Infrastructure: all weather road, water bore-field, water licence, 14 bed camp and laboratory, and materials to construct 7km 22kV power line spur to grid

Research & development capability to evaluate further identified value add process technologies

Two mills and flotation tanks partially refurbished, suitable for a lithium mica concentrator with output capacity of approximately 70,000tpa

Offtake arrangement with MCS for production from the operational Alvarrões lepidolite mine in Portugal

Memorandum of Understanding with BASF SE supply of lithium hydroxide for production of high nickel cathode

Well capitalised with A$4.9 million cash and no debt as at 31 March 2019

Testwork by Strategic Metallurgy produced battery grade lithium carbonate using L-Max® from Desert Lion mineralisation




Strategic Rationale for Proposed Merger

Lepidico and Desert Lion share a similar strategic objective: to get to free cash flow generation as swiftly as possible by developing a scalable, vertically integrated new lithium chemical business based on lithium mica and lithium phosphate minerals.

Desert Lion's assets provide a platform to advance a mine and lepidolite concentrator into development. Importantly, Desert Lion has already secured a Mining Licence for a similar development, thereby substantially reducing permitting risk and providing an opportunity to rapidly transition to development. Furthermore, Desert Lion has acquired and is in the process of refurbishing two mills and two banks of flotation cells, which could reduce the capital cost of the concentrator.

L-Max® amenability testwork undertaken on a sample of Desert Lion lepidolite mineralisation returned excellent results, with a lithium extraction of 94% from concentrate and production of lithium carbonate with 99.8% purity.

Lepidico recently extended the scope of the Phase 1 Plant Feasibility Study (the "Study") to include a LOH-MaxTM circuit for the production of lithium hydroxide, as well as the evaluation of a plant development in the Industrial City of Abu Dhabi (ICAD). The Study will, however, continue to contemplate the base case scenario of Sudbury, Canada for the Phase 1 Plant until the ICAD trade-off study is complete, scheduled for the second half of 2019. Lead Study consultant, Minmet Services, has advised of material capital and operating cost benefits associated with developing the Phase 1 Plant at ICAD and a separate study has revealed that local markets exist for L-Max® and S-MaxTM by-products. Engineering for the LOH-MaxTM circuit is expected to be completed by Lycopodium in December 2019, which will also take into account the change in location. Finally, ICAD promotes a "plug and play" philosophy for new developments, allowing for rapid permitting and approvals. This is in part afforded by having world class established infrastructure, including power, gas, water and developed roads, storage and logistic hubs that have quick and easy access to multiple ports and airports.

Results for the integrated Phase 1 Plant Feasibility Study are now scheduled for completion in the March 2020 quarter. This will incorporate a new mine plan for Alvarrões based on the recent Mineral Resource upgrade, a mine design for the Desert Lion project following a planned intensive drill programme intended to upgrade the Mineral Resource, the following transaction close and a re-engineered Phase 1 lithium hydroxide chemical plant designs for both ICAD and Sudbury.

Entitlements Offer

  • 1 for 9 renounceable rights issue to raise up to A$10.8 million
  • Attractively priced at A2.9 cents per share
  • Discount of 26% to the 10 day volume weighted average share price and 24% to the closing share price on 3 May 2019
  • With every two new shares issued, shareholders will receive one free attaching option
  • New options will be listed, have an exercise price of A5.0 cents and a term of three years ("New Options")
  • Shareholders can trade their rights and apply for additional shares and options
  • Rights to start trading from 10 May 2018
  • Galaxy Resources Ltd & Bacchus Capital Advisors plan to take up their full entitlements
  • Directors of Lepidico intend to participate
  • Funds will be used for Business integration, new development and growth opportunities
Shares under the Entitlements Offer (each, a "New Share") will be issued at A$0.029 per New Share. The maximum number of New Shares which will be issued under the Entitlements Offer is 372,908,354 to raise up to approximately A$10,814,342 (before expenses, based on the current capital structure of Lepidico). New Options will be listed, have an exercise price of A$0.05 and a three year term.

New Shares issued under the Entitlements Offer will rank equally with existing shares and Lepidico will apply for official quotation of the New Shares and New Options.

Lepidico confirms it is in compliance with its continuous disclosure obligations.

The Entitlement Offer is partially underwritten by Lead Manager CPS to A$3.0 million.

It is intended that the proceeds of the Entitlements Offer will fund the integration of the Desert Lion business post-merger, including the evaluation of a mine and concentrator development at the Desert Lion Project, for incorporation into the Phase 1 Plant Feasibility Study. In the event that the Plan of Arrangement does not complete, these proceeds will be used by Lepidico for the acquisition of alternative lithium assets and Mineral Resource development.

If sufficient proceeds are raised from the Entitlements Offer, Lepidico will use these additional proceeds to: undertake LOH-MaxTM engineering and revised location evaluation for the Phase 1 Plant Feasibility Study; undertake further L-Max® and LOH-MaxTM product development work; accelerate drilling activities at Alvarrões in Portugal and other exploration; working capital; and expenses of the offer.

The Entitlement Offer price of A$0.029 per New Share represents a 24% discount to the last traded price of Lepidico's shares being A$0.038 on 3 May 2019, and a 26% discount to the 10-day volume weighted average price of Lepidico's shares.

All Directors who hold Shares currently intend to participate in their personal capacity to the fullest extent possible, subject to funding.

The Company has been advised that Galaxy Resources Ltd (ASX: GXY) intends to take up its full entitlement in the Entitlements Offer. In addition, Bacchus Capital Advisers Ltd, Lepidico's financial adviser, has advised its intention to take up its rights under the Entitlement Offer.

The timetable for the Entitlement Offer is as follows:




Lodgement of prospectus with ASIC and ASX

7 May 2019

Notices sent to option holders

7 May 2019

Notices sent to shareholders

9 May 2019

Ex-date, rights start trading

10 May 2019

Record Date for determining Entitlements

13 May 2019

Prospectus sent to shareholders & Company announcement this has been completed

14 May 2019

Rights stop trading

22 May 2019

Shares quoted on a deferred settlement basis

23 May 2019

Last date for Closing Date to be extended

24 May 2019

Closing Date*

29 May 2019

ASX notified of under subscriptions

31 May 2019

Issue date / shares entered into shareholders' security
holdings / deferred settlement trading ends

5 June 2019

Quotation of shares and options issued under the
Entitlements Offer*

6 June 2019



* The directors of Lepidico may extend the Closing Date by giving at least three business days' notice to ASX prior to the Closing Date. As such, the date the New Shares are expected to commence trading on ASX may vary.





Advisers

Bacchus Capital Advisers Ltd is acting as Lepidico's exclusive financial adviser, and Stikeman Elliott LLP and Steinepreis Paganin are acting as Lepidico's legal advisers.

INFOR Financial Inc. is acting as Desert Lion's exclusive financial adviser, and Fasken Martineau DuMoulin LLP is acting as Desert Lion's legal adviser.

Shares for Debt Settlement

Desert Lion is also pleased to announce that it intends to issue 27,473 common shares of Desert Lion (the "Common Shares"), at an effective price per share of C$1.82 in payment of C$50,000 of certain additional obligations owed in connection with its acquisition of Exclusive Prospecting License 5718.

In accordance with applicable securities laws, the Common Shares issued will be subject to the approval of the TSX Venture Exchange and will be subject to a hold period of four months and one day from the date of completion of the debt settlement.

About Desert Lion Energy Inc.
Desert Lion Energy is a Toronto based emerging lithium development company focused on building Namibia's first large-scale lithium mine located near the town of Karibib approximately 210 km from the nation's capital of Windhoek and 220 km from the Port of Walvis Bay (the "Desert Lion Project"). Desert Lion's Rubicon and Helikon mines, which have been mined intermittently for petalite and tantalum since the 1930's, are located within a prospective land package covering approximately 1,000 km2. The project site is accessible year-round by road and has access to power, water, rail, port, airport and communication infrastructure. Desert Lion has delineated a NI 43-101 Mineral Resource estimate at Rubicon and Helikon of Indicated 3.0Mt @ 0.63% Li2O and 59ppm Ta2O5 & Inferred 5.8Mt @ 0.53% Li2O and 59ppm Ta2O5 (see section 14 of Desert Lion's NI 43-101 Technical Report dated November 28, 2018, as amended and restated on December 7, 2018, for more information).

About Lepidico Ltd
Lepidico Ltd is an ASX-listed company focused on exploration, development and production of lithium chemicals. Lepidico owns the technology to a metallurgical process that has successfully produced lithium carbonate from non-conventional sources, specifically lithium-rich mica minerals including lepidolite and zinnwaldite. The L-Max® Process has the potential to complement the lithium market by adding low-cost lithium carbonate supply from alternative sources. More recently Lepidico has added LOH-MaxTM to its technology base, which produces lithium hydroxide from lithium sulphate without by-produce sodium sulphate. Lepidico is currently conducting a Feasibility Study for a 5,000 tonne per annum Phase 1 lithium chemical plant. Work is currently being undertaken to evaluate the incorporation of LOH-MaxTM into the Phase 1 Plant Project flow sheet. Lepidico has entered into an access agreement in Portugal with owner-operator Mota Ceramic Solutions (ASX announcement of 7 December 2017).

Lepidico's current exploration assets include a farm-in agreements with Venus Metals Corporation Limited (ASX:VMC) over the lithium mineral rights at the Youanmi Lithium Project in Western Australia. Lepidico also has a Letter of Intent with TSX listed Avalon Advanced Materials Inc. for planned lithium mica concentrate supply from its Separation Rapids Project in Ontario, Canada.

Qualified Persons Consents
The information in this report that relates to the Alvarrões Mineral Resource estimate is based on information compiled by John Graindorge who is a Chartered Professional (Geology) and a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". John Graindorge is a full-time employee of Snowden Mining Industry Consultants Pty Ltd and consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

The information in this report that relates to Lepidico Exploration Results is based on information compiled by Mr Tom Dukovcic, who is an employee of Lepidico and a member of the Australian Institute of Geoscientists and who has sufficient experience relevant to the styles of mineralisation and the types of deposit under consideration, and to the activity that has been undertaken, to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves." Mr Dukovcic consents to the inclusion in this report of information compiled by him in the form and context in which it appears.

The information in this report that relates to the Desert Lion Mineral Resource estimates is based on information compiled and verified by Mike Venter, Pr.Sci.Nat and VP Exploration for Desert Lion, who is a Qualified Person as defined by National Instrument 43-101.

Tim Johnston, CPEng, Chief Executive Officer of Desert Lion Energy Inc, and a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical information contained in this news release pertaining to the Namibian Property and was responsible for verifying the data herein.

Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget" "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or indicates that certain actions, events or results "may", "could", "would", "might" or "will be" taken, "occur" or "be achieved." Forward-looking information is based on certain factors and assumptions management believes to be reasonable at the time such statements are made, including but not limited to: (i) assumptions and expectations with regard to the proposed merger, its completion and anticipated benefits and advantages; (ii) the future prospects, including the integration and commercial viability of Lepidico's technologies, resulting from the proposed merger and the ability to unlock value; (iii) the completion of the entitlements offers; (iv) continued exploration activities; (v) lithium and other metal prices; (vi) , the estimation of initial and sustaining capital requirements; (vii) the estimation of labour and production costs; (viii) the estimation of mineral reserves and resources; (ix) assumptions with respect to currency fluctuations; * the timing and amount of future exploration and development expenditures; (xii) receipt of required regulatory approvals; (xiii) the availability of necessary financing for Lepidico, Desert Lion and the Desert Lion Project, permitting; and (xv) such other assumptions and factors as set out herein.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Desert Lion and Lepidico to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in lithium prices; sources and cost of power and water for the Desert Lion Project; the estimation of initial capital requirements; the lack of historical operations; the estimation of labour and operating costs; general global markets and economic conditions; risks associated with exploration, development and operations of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade for the Desert Lion Project; risks associated with uninsurable risks arising during the course of exploration, development and production; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; risks associated with changes in the mining regulatory regime governing Lepidico, Desert Lion and the Desert Lion Project; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at the Desert Lion Project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of Lepidico and Desert Lion; the risk of litigation; the risk that the proposed merger will not be completed within the proposed timeline, or at all; and the risk that Lepidico's entitlements offers will not be completed.

Although Desert Lion has attempted to identify important factors that cause results not to be as anticipated, estimated or intended, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this announcement and Desert Lion does not undertake to update or revise any forward-looking information that is included herein, except in accordance with applicable securities laws.

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.

SOURCE Desert Lion Energy

For further information: Joe Walsh, Managing Director, Lepidico Ltd, +1 647 272 5347; Tom Dukovcic, Director Exploration, Lepidico Ltd, +61 (0)8 9363 7800; Tim Johnston, Chief Executive Officer, Desert Lion Energy Inc., +1 416 309 2953

Related Links desertlionenergy.com

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To: LoneClone who wrote (15889)5/13/2019 10:55:11 AM
From: LoneClone
   of 16598
 
[Lithium] Arena Minerals Increases Prospective Brine Field by 600% and Initiates Shallow Drill Program

ca.finance.yahoo.com

GlobeNewswireMay 9, 2019

TORONTO, May 09, 2019 (GLOBE NEWSWIRE) -- Arena Minerals Inc. ("Arena" or the "Company") ( AN.V) is pleased to report results from its recently completed surface transient electromagnetic (“TEM”) survey over the Antofalla North claim block. The survey results confirm the presence of halite over the salar surface, representing approximately 15% of the claim block, but also discovered low resistivity fields at depth along the eastern margin of the survey area. This low resistivity field is interpreted as a large aquifer saturated with brine, increasing the prospective brine field by 600 percent. Arena had purchased the claim block on the assumption brine would be present only within the known halite found on the salar surface, which covers the north western corner of the property.

Will Randall, President and CEO of Arena Minerals, commented: "The TEM results add significant value to our recent acquisition, increasing the potential for a significant resource entirely within our Antofalla North claim block. Based on these results we will design a drill program to test the newly discovered brine field. At present, the Company is initiating a shallow drill program to define the near surface brines within the halite found on the salar surface along the western portion of the claim block."

A video of the TEM survey results is now available on the Company’s website at www.arenaminerals.com.. The discovered low resistivity field extends down 300 metres from surface and is open at depth.

A follow up work program has been initiated, consisting primarily of shallow drilling on a regular grid to determine brine composition over the halite dominant salar surface. Once these results have been received a drill program will be designed to define the brine resource hosted within the halite as well as test the low resistivity discovered in this survey.

TEM Survey Details

The TEM survey was performed by Quantec Geoscience Argentina S.A. The TEM field procedure was designed to collect sounding data in an expedient manner. Data were collected with a moving-loop method in which the receiver coil was located at the center of a square, single-turn transmit loop. Transmit loop dimensions were fixed at 200 m x 200 m.

A frequency of 25 Hz and 2.5 Hz was employed throughout the survey allowing secondary magnetic field decay measurements over a total of 20 time channels. The transmitter and receiver were linked with a reference cable.

In addition, the Company informs that Vernon Arseneau is no longer Vice President of Exploration for the Company.

About Arena Minerals

Arena owns three lithium brine projects in Argentina, consisting of three claims covering a total of 4,000 hectares of the central portion of Salar de Antofalla, located immediately south of Albemarle Corporation's Antofalla project, claims covering 290 hectares in Salar de Hombre Muerto, and an option over 2,000 hectares in the Pocitos Salar.

Arena also owns 80 percent of the Atacama Copper property, consisting of two projects covering approximately 7,000 hectares within the Antofagasta region of Chile. The projects are at low altitudes, within producing mining camps in infrastructure-rich areas, located in the heart of Chile's premier copper mining district.

The technical and scientific aspects of this news release have been reviewed and approved by Mr. William Randall, P.Geo, who is a qualified person pursuant to NI 43-101. As the President & CEO of the Company, Mr. Randall is not considered independent.

To view our website, please visit www.arenaminerals.com. In addition to featuring information regarding the Company, its management, and projects, the site also contains the latest corporate news, a long form text explaining the unique business model of the Company (under the tab “the Company Explained”) and an email registration allowing subscribers to receive news and updates directly.

For more information, contact William Randall, President and CEO, at +1-416-818-8711 or Simon Marcotte, Vice-President Corporate Development, at +1-647-801-7273 or smarcotte@arenaminerals.com.

On behalf of the Board of Directors of

Arena Minerals Inc.

William Randall, President and CEO

Cautionary Note Regarding Accuracy and Forward-Looking Information

This news release may contain forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements, projections and estimates relating to the future development of any of the Company's properties, the anticipating timing with respect to private placement financings, the ability of the Company to complete private placement financings, results of the exploration program, future financial or operating performance of the Company, its subsidiaries and its projects, the development of and the anticipated timing with respect to the Atacama project in Chile, the Antofalla, Hombre Muerto or Pocitos Projects in Argentina , and the Company's ability to obtain financing. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The statements made herein are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Estimates underlying the results set out in this news release arise from work conducted by the previous owners and the Company. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Arena Minerals does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

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To: LoneClone who wrote (15890)5/13/2019 11:25:06 AM
From: LoneClone
   of 16598
 
Canada Cobalt More Than Doubles Size of Castle Mine Land Package

ca.finance.yahoo.com

CNW GroupMay 10, 2019

COQUITLAM, BC, May 10, 2019 /CNW/ - Canada Cobalt Works Inc. (TSXV: CCW.V - News) (OTC: CCWOF - News) (Frankfurt: 4T9B) (the "Company" or "Canada Cobalt") is pleased to announce that it has added approximately 4,800 hectares to its Castle mine land package, more than doubling the total size from 29.6 sq. km to approximately 78 sq. km.

A new map of the Gowganda Camp, showing the holdings of Canada Cobalt and others, will be posted on the Canada Cobalt web site ( www.CanadaCobalt.com) later today.

The additional strategic contiguous ground is to the north and northeast. Most of it (approximately 4,200 hectares) was acquired in a deal with a local prospector for $15,000 cash and 200,000 shares of Canada Cobalt, subject to the approval of the TSX Venture Exchange. The balance (approximately 600 hectares) was acquired through staking. All shares issued are subject to a four month and a day hold period pursuant to applicable Securities Laws.

Canada Cobalt eagerly anticipates providing more property results in the near future.

Qualified Person

The technical information in this news release was prepared under the supervision of Frank J. Basa, P. Eng., Canada Cobalt's President and Chief Executive Officer, who is a member of Professional Engineers Ontario and a qualified person in accordance with National Instrument 43-101.

About Canada Cobalt Works Inc.

Canada Cobalt is focused on immediate and longer-term value drivers at its past producing Castle mine and adjoining land package in the historic Northern Ontario Silver-Cobalt district, Canada's cobalt heartland since the start of the electric vehicle revolution. The Canada Cobalt "advantage" includes underground access at Castle, an innovative tailings program with a plan to recover silver, gold and cobalt, a recently installed pilot plant to produce gravity concentrates on site, a proprietary hydrometallurgical process known as Re-2OX, and exciting exploration discovery potential at Castle East.

"Frank J. Basa"
Frank J. Basa, P. Eng.
President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Service 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 may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE Canada Cobalt Works Inc.


View original content: newswire.ca

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To: LoneClone who wrote (15891)5/13/2019 11:43:32 AM
From: LoneClone
   of 16598
 
First Cobalt Advances Refinery Commissioning Strategy

newswire.ca

First Cobalt Corp. May 08, 2019, 07:00 ET

TORONTO, May 8, 2019 /CNW/ - First Cobalt Corp. (TSX-V: FCC, ASX: FCC, OTCQX: FTSSF) (the "Company") is pleased to announce it has initiated a scoping-level capacity study to estimate the capital and operating requirements for various production scenarios using cobalt hydroxide as feedstock for the restart of the First Cobalt Refinery in Ontario, Canada.

Highlights



Image 1. Top left to right, cobalt sulfate produced using the First Cobalt Refinery flowsheet; current autoclave circuit. Bottom left to right, external and areal images of the facility. (CNW Group/First Cobalt Corp.)





  • Third party discussions underway to supply feedstock and capital to restart of the First Cobalt Refinery 18 to 24 months from finalizing feedstock supply terms
  • Study will define the production capacity of First Cobalt's Refinery in Ontario under specific commercialization scenarios using higher grade feedstock
  • Study will provide detailed capital and operating costs estimates to process cobalt hydroxide at various production rates
  • First Cobalt is 100% owner of the Refinery, which is the only fully permitted cobalt refinery in North America capable of producing battery grade cobalt sulfate
Trent Mell, President & Chief Executive Officer, commented:

"First Cobalt is focused on becoming the first North American refiner of battery grade cobalt sulfate and is in discussions with sources of potential cobalt hydroxide feed material. The study announced today is expected to identify upside within the Refinery by treating higher grade hydroxide feed material and removing the autoclave circuit, which is the current bottleneck to increasing throughput capacity. We look forward to announcing the results of this study in a few weeks' time."

On April 3, 2019, First Cobalt announced the production of a battery grade cobalt sulfate from a cobalt hydroxide feed source using the current refinery flowsheet by SGS Canada. Based on this work, the Company concluded that cobalt hydroxide was the preferred source of feed material to restart the Refinery and that the throughput rate and cost profile could be improved by excluding the autoclave circuit from the flowsheet.

First Cobalt has now engaged Ausenco Engineering Canada Inc. to complete a scoping-level debottlenecking study to define the production capacity of First Cobalt's Refinery in Ontario with the exclusion of the autoclaves. Results of the study are expected before the end of the month and are expected to provide a better understanding of production constraints and opportunities under various operating scenarios.

The Ausenco study will focus on cobalt hydroxide feed materials and optimizing process flowsheets for the First Cobalt Refinery restart. The conceptual study will update the baseline production capacity and capital estimate, without the autoclave circuit, as well as explore additional production capacity for the Refinery under additional process flowsheets, estimating the capital and operating costs for each scenario. The report will support First Cobalt in developing the business case for the restart and serve as a foundation for future work to generate a financeable project definition.

Ausenco is a global consulting, engineering, project delivery and asset operations, management and optimization solutions firm to the minerals & metals, oil & gas and industrial sectors.

The First Cobalt Refinery is a hydrometallurgical cobalt-silver-nickel refinery located approximately five kilometres east of Cobalt, Ontario. Commissioned in 1996, the refinery is located a few hours north by road or rail from the US border. Once operational, the Refinery would become the only North American producer of refined cobalt for the North American EV market.

The facility was originally permitted to processing feed containing elevated concentrations of arsenic, such as those from the Cobalt Camp, the Idaho Cobalt Belt and elsewhere in North America. The Company believes that permitting a similar facility in North America today could take a significant investment of time.

Debt Settlement Agreement

The Company also announces it will settle an aggregate of C$364,130 of indebtedness owed to an arms'-length creditor of its wholly-owned subsidiary, US Cobalt Inc., through the issuance of an aggregate of 2,427,530 common shares ("Common Shares").

The Common Shares issued will be subject to a statutory four month and one day hold period. Completion of the settlement is subject to the approval of the TSX Venture Exchange.

About First Cobalt

First Cobalt is a Canadian-based pure-play cobalt company and owner of the only permitted primary cobalt refinery in North America. The Company is exploring a restart of the First Cobalt Refinery in Ontario, Canada, which could produce 2,000 tonnes of cobalt sulfate or metallic cobalt per year. First Cobalt's main cobalt project is the Iron Creek Cobalt Project in Idaho, USA, which has Inferred mineral resources of 26.9 million tonnes grading 0.11% cobalt equivalent, or an alternative underground-only scenario of 4.4 million tonnes grading 0.3% cobalt equivalent.

On behalf of First Cobalt Corp.

Trent Mell
President & Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Estimates of Resources

Readers are cautioned that mineral resources are not economic mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum's "2014 CIM Definition Standards on Mineral Resources and Mineral Reserves" incorporated by reference into NI 43-101. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for Preliminary Economic Assessment as defined under NI 43-101. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically. An Inferred Mineral Resource as defined by the CIM Standing Committee is "that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration."

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for First Cobalt, filed on SEDAR at www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE First Cobalt Corp.

For further information: visit www.firstcobalt.com or contact: Heather Smiles, Investor Relations, info@firstcobalt.com, +1.416.900.3891

Related Links www.firstcobalt.com

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To: LoneClone who wrote (15892)5/13/2019 1:19:54 PM
From: LoneClone
   of 16598
 
Geomega Begins Front End Engineering Design for Rare Earth Recycling Demonstration Plant

ca.finance.yahoo.com

GlobeNewswireMay 13, 2019

MONTREAL, May 13, 2019 (GLOBE NEWSWIRE) -- Geomega Resources Inc. (“Geomega” or the “Corporation”) ( GMA.V) is pleased to announce that it has selected Seneca Inc. (“Seneca”), a Montreal based engineering consulting firm specializing in industrial process engineering, to complete the Front End Engineering Design (FEED) study for the rare earth recycling demonstration plant with the focus on the permanent magnet industry. The FEED study will produce an externally validated construction and operating cost estimates, project completion schedule, process flow and control diagrams and environmental impact review and process safety measures and provisions that are required for permit requests. In addition, the FEED study will help in the selection of the ideal location for the demonstration plant and produce the required plans and drawings. It is expected that the FEED study will be completed within 8-12 weeks.

Seneca is a private engineering consulting firm specialising in industrial materials process engineering offering professional services for the implementation of industrial investment projects in Quebec and abroad. Seneca has experience in both the recycling and in the mining and metallurgy industries which fits well with Geomega’s approach to rare earth elements. Seneca specializes in setting up pilot and demonstration plants and building commercial plants. Seneca has worked with many new green technologies in the past and currently is involved with a lithium ion battery recycling technology to build a 200 tonnes per year capacity pilot plant in Quebec.

Financing Update
Geomega is continuing to evaluate various options to finance the construction of the demonstration plant and is focused on delivering the least dilutive approach possible to its shareholders. The Corporation is in discussions with several potential strategic investors, institutional groups as well as various Federal and Provincial government groups regarding the financing and how to establish Canada and Quebec as an eco-friendly and cost effective rare earth elements producer.

“We are very pleased to be starting the FEED study for the demonstration plant and to count on Seneca as our partner. Seneca’s experience both in the mining and metallurgy industry with industrial minerals and in the recycling industry are a major plus for our project. Having a group that is actively involved in recycling is important as they understand some of the constraints and realities of the industry but they as well understand the importance of innovative green technologies and how they can be attached in the future to cleaner and more sustainable mining industry.” commented Kiril Mugerman, President and CEO of Geomega and Innord.

About Geomega ( www.geomega.ca)
Geomega is a mineral exploration and evaluation company focused on the discovery and sustainable development of economic deposits of metals in Québec. Geomega is committed to meeting the Canadian mining industry standards and distinguishing itself with innovative engineering, stakeholders’ engagement and dedication to local transformation benefits. Geomega owns the Montviel rare earth carbonatite deposit and is advancing sustainable rare earth refining through Innord’s ISR Technology. In addition, Geomega holds over 17.8M shares, representing over 20% of the issued and outstanding shares of Kintavar Exploration Inc., a mineral exploration company that is advancing the Mitchi stratiform copper project in Quebec.

About Innord Inc.
Innord is a private subsidiary of Geomega of which Geomega owns 96.1%. The goal of Innord is to develop and optimize the proprietary ISR Technology for extraction and separation of rare earth elements. Innord focuses on scaling up the technology through processing rare earth enriched secondary sources (recycling of end of life and manufacturing waste) and then to apply the technology to primary mining feeds.

About Seneca Inc.
Seneca is a private engineering consulting firm specializing in industrial process engineering. It offers comprehensive professional services for industrial investment projects in Quebec and abroad. Its team of over 80 experts has helped carry out thousands of industrial projects in some 15 countries. www.seneca.ca

For further information, please contact:
Kiril Mugerman
Président et Chef de la direction
Ressources GéoMégA Inc.
Tel : 450-641-5119 ext. 5653
Email : kmugerman@geomega.ca

Dave Burwell
Vice-Président
The Howard Group Inc.
Tel: 403-221-0915
Toll Free: 1-888-221-0915
Email : dave@howardgroupinc.com

Cautions Regarding Forward-Looking Statements
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.

This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including as regards the commercialization of any of the technology referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s annual management’s discussion and analysis for the fiscal year ended May 31, 2018, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

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To: LoneClone who wrote (15893)5/13/2019 1:21:24 PM
From: LoneClone
   of 16598
 
[Lithium] Enertopia Provides Solution Testing Progress Report # 3

ca.finance.yahoo.com

ACCESSWIREMay 8, 2019

KELOWNA, BC / ACCESSWIRE / May 8, 2019 / Enertopia Corporation ( ENRT) and ( TOP.CN) (the "Company" or "Enertopia") is pleased to announce the following lithium project and synthetic solution testing update.

Since March 2019, Enertopia has been running tests to recover lithium in the most cost-effective Capex manner from synthetic brine solutions produced by leaching samples from the December 2018 drilling program from our Clayton Valley, Nevada project.

The Company has been and continues to run the following series of tests, grain sizing and lithium grades per grain sizing, pre-strip reagent testing on impurity levels in the Upper Oxide and Reduced drilled horizons.

The Company is still waiting for the assay results on the grain sizing. Early reagent results thus far have been very encouraging. These tests have been run at room temperature and normal atmospheric pressure. Early findings have resulted in significant drops in contaminants before running Ion resin column leach tests. For example, Boron levels have been dropped to below the detection limit of 5 ppm from starting solution values of 49 ppm in the upper oxide horizon, 27 ppm in the reduced horizon. Calcium values have been dropped to a low of 16 ppm from 740 ppm in the oxide horizon.

Potassium values have been dropped to 46 ppm in the upper oxide and to 64 ppm in the reduced zone from 1,800 ppm levels. Sodium values of 500 ppm and 600 ppm in the upper oxide and reduced horizons were dropped to 300 ppm and 434 ppm respectively.

To put this into perspective when using ion resin exchange values below 500 ppm are considered the threshold for Potassium and Sodium removal on a cost-effective basis. We believe our next series of solution testing will further lower the contaminate levels even further.

CEO Robert McAllister was recently at the CIM (Canadian Institute of Mining and Metallurgy) Conference in Montreal. While there he met with the company's resin provider to go over the updated testing results and steps for the next series of solution tests to be followed by the column leach resin tests. The lithium concentration tests will follow the completion of the Ion resin tests. While attending the conference timelines for mining equipment procurement were discussed along with capital requirements for other equipment with various vendors.

It is too early in the Company's development to specify an exact timeline or particular production equipment, but we have, at this point, every indication that our goal is achievable at a much lower capital cost than the industry has recently been accustomed to dealing with.

Our pre-pH adjustments have demonstrated positive outcomes as contaminant minerals are greatly reduced allowing for a cleaner synthetic lithium brine to be processed using off the shelf technologies and variants developed by Entertopia.

The company's technical advisors believe the positive testing to date may warrant patent protection and thus the Company is keeping all internal data strictly confidential at this time. The Company has signed several NDA's with industry partners as it works to reach its goal of a low capex solution to battery grade lithium production.

'Our ongoing solution testing of the drilled lithium horizons continues to provide great insights and novel ways to strive for a low-cost mining and processing solution to unlock the potential value of the Lithium enriched claystones,' stated CEO Robert McAllister.

The Qualified person:

The technical data in this news release have been reviewed by Douglas Wood, P.Geol a qualified person under the terms of NI 43-101.

About Enertopia:

A Company focused on using modern technology to build shareholder value. Enertopia is working to establish a lithium resource and at the same time working on extracting Lithium from its synthetic brine solutions by using industry leading proven technology.

Enertopia shares are quoted in Canada with symbol TOP and in the United States with symbol ENRT. For additional information, please visit www.enertopia.com or call Robert McAllister, the President at 1.250.870.2219.

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, potential and financing of its mining or technology projects, growth opportunities, plans and objectives of management for future operations, including statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions that are forward-looking statements. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements., foreign exchange and other financial markets; changes in the interest rates on borrowings; hedging activities; changes in commodity prices; changes in the investments and expenditure levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which Enertopia Corporation operates. There can be no assurance that a lithium resource will be outlined at the Clayton Valley, NV project or the testing for the brine recovery system will be effective for the recovery of Lithium and if effective will be economic or have any positive impact on Enertopia and that Enertopia will file for patent protection. The User should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by Enertopia Corporation from time to time with regulatory authorities.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

SOURCE: Enertopia Corp

View source version on accesswire.com:
accesswire.com

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To: LoneClone who wrote (15894)5/14/2019 11:02:00 AM
From: LoneClone
   of 16598
 
Mawson Expands Rajapalot Project With New Gold-Cobalt Discovery At Rumajärvi, Finland

mawsonresources.com


Vancouver, Canada — Mawson Resources Limited (“Mawson”) or (the “Company”) (TSX:MAW) (Frankfurt:MXR) (PINKSHEETS: MWSNF) announces a new drill discovery at the Rumajärvi prospect of shallow gold-cobalt mineralization located 700 metres west and 1.1 kilometres south of the Raja and Palokas resource areas respectively, at the Company’s 100% owned Rajapalot Project in northern Finland.Highlights include PAL0182 which intersected 7.4 metres @ 4.4 g/t gold equivalent (“AuEq”), 3.4 g/t gold (“Au”) and 597 ppm cobalt (“Co”) from 86.3 metres.

Assay results continue to be received from drill holes that tested both the boundaries of Mineral Resources at the Raja, Palokas and South Palokas prospects, and earlier stage prospect areas including the Hut, Terry’s Hammer and Rumajärvi (Figures 1 and 2). Mawson recently completed 44 holes (PAL0159–PAL0201D1) for 15,059 metres during the 2019 winter drill season. Results from 6 holes from the Rumajärvi prospect are provided here, with additional results to be reported on a prospect-by-prospect basis. Twenty-three holes with full assays remain to be reported that were drilled predominantly down plunge from resource areas.Sulphidic (pyrrhotite-rich) intersections with visible gold provide encouraging signs in drill holes PAL0190 and PAL0191(Raja), PAL0194 (Palokas) and PAL0198 (South Palokas), where assays are yet to be received.

"Our exploration success at Rumajärvi provides encouragement of continued growth of the Rajapalot mineral system," said Mr. Michael Hudson, Chairman and CEO of Mawson. “The discovery of these new gold-cobalt zones at Rumajärvi clearly demonstrate the potential to increase Rajapalot’s gold-cobalt resources. Rajapalot is a significant and strategic growing gold-cobalt resource already positioned as one of Finland's top three gold resources by grade and contained ounces and one of a small group of cobalt resources in Europe prepared in accordance with NI 43-101 policy. We still have over half the winter season drill holes to report, and look forward to sharing results over the coming month.”

The newly discovered gold-cobalt corridor at Rumajärvi lies on the western flank of the mineralized Rajapalot trend and is indicated with dashed lines in Figures 1 and 2. The resource areas at Rajapalot trend to the north and east of this discovery within an overall 4 kilometre trend. Rajapalot remains untested to the south, west and north.

The new Rumajärvi corridor is located 700m west and 1.1 km south of the Raja and Palokas Inferred Mineral Resources and represents a new drill-defined mineralized area within the best-developed boulder field in Rajapalot where a total of 55 boulders and outcrops with >0.1 g/t gold have been discovered.Gold grades from a 10 hectare area range from 0.1 g/t gold to 3,870 g/t gold, with an average of 184 g/t gold and median of 0.6 g/t gold. Samples from boulders are grab samples, which are selective by nature and are unlikely to represent average grades on the property

Results are available from 6 of 9 holes drilled at Rumajärvi over winter (PAL0177, 179, 181, 182, 183 and 184).Results from 3 drill holes from Rumajärvi are awaited (PAL0178, 185 and 186). Better drill holes from this release include PAL0182 which intersected 7.4 metres @ 4.4 g/t gold equivalent (“AuEq”), 3.4 g/t gold (“Au”) and 597 ppm cobalt (“Co”) from 86.3 metres. PAL0179, drilled 200 metres to the NE of PAL0182 intersected 4.7 metres @ 1.9 g/t AuEq, 1.0 g/t Au and 578 ppm Co from 6.0 metres and PAL0183 intersected 0.6 metres @ 2.8 g/t AuEq, 2.2 g/t Au and 340 ppm Co from 142.5 metres.

Geological Discussion

Rumajärvi prospect area is a discovery at its early stages within the Rajapalot project.Drilling at depth at Rajapalot is driven by electromagnetic geophysics.At Rumajärvi six modelled geophysical conductors (two ground-based TEM and four airborne VTEMplus) have only been tested by four drill holes. The discovery is a result of systematically following up boulder trains, geophysical surveys and scout drilling to target further mineralization.

Vein and fracture fill mineralization formed at multiple stratigraphic levels appears to be the main style associated with Rumajärvi. It is interpreted that drilling may have only intersected “thin” structurally controlled transgressive veins marginal to a main mineralized position. PAL0182 (7.4 metres @ 4.4 g/t AuEq from 86.3 m) was drilled to intersect an inferred linear, NNW plunging Au-Co sulphidic intersection down-plunge from earlier hole PAL0037 (19.5 metres @ 1.8 g/t AuEq, 0.7 g/t Au, 659ppm Co from 20.5 metres). Mineralization commences at the lower intersection of albite-rich rocks with schists in association with fine-grained muscovite schists. Unlike at Raja where mineralization lies close to the basal muscovite quartzite marker, mineralization at Rumajärvi is located over 300 metres structurally above this marker horizon. Drill hole PAL0179 (4.7 metres @ 1.9 g/t AuEq, 1.0 g/t Au and 578 ppm Co from 6.0 metres), commenced in mineralization at the base of the glacial till overburden in moderately foliated sulphidic breccia comprising pyrrhotite, pyrite chalcopyrite, sphalerite and galena in a silicate host comprising chlorite, biotite, Mg-Fe amphiboles, albite, quartz and tourmaline.

Geological interpretation suggest that mineralization may extend more than 300 metres to the west of current drilling at Rumajärvi where VTEMplus electromagnetic plates have not been drill tested. Notably, the only two holes drilled 320 metres NNW from PAL0182 (PAL0043 (3.0 metres @ 3.0 g/t AuEq, 2.6 g/t Au, 273 ppm Co from 10.6 metres) and PAL0184 (1.0 metre @ 1.7 g/t AuEq, 1.3 g/t Au, 206 ppm Co from 117.6 metres) have both intersected gold-cobalt mineralization. The principal undrilled target occurs in the large fold hinge where the sequence inverts from right-way-up in the north (South Palokas and upper sequence at The Hut) to upside down in the south (Raja and Rumajärvi).The construction of a 3D model (grade and structure/stratigraphy) to merge with geophysics (especially EM) is planned over the coming months to help target drilling at the end of the year.

Technical and Environmental Background

The gold equivalent ("AuEq") value used in the resource and this press release was calculated using the following formula: AuEq g/t = Au g/t + (Co ppm/608) with assumed prices of Co $30/lb; and Au $1,250/oz. AuEq varies with gold and cobalt prices. A long-term price point has been chosen for both commodities to maintain consistency of reporting individual drill holes against the resource dated December 2018.Approximate spot prices for gold and cobalt are currently $1280/oz and $16/lb respectively.

Assuming a predominant stratabound control, the true thickness of the mineralized interval is interpreted to be approximately 90% of the sampled thickness. Quality control duplicates for all holes show good repeatability of gold assays. Intersections are reported with a lower-cut of 0.5g/t gold or 304ppm Co over 2 metre lower cut, except where indicated. No upper cut-off was applied.

Four diamond drill rigs (K3 & K8) from the Arctic Drilling Company OY (“ADC”), Kati OY (“Kati”) and MK Core Drilling OY (“MK”), all with water recirculation and drill cuttings collection systems were used for the drill program. Core diameter is NQ2 (50.7 mm). Core recoveries were excellent and average close to 100% in fresh rock. After photographing and logging in Mawson’s Rovaniemi facilities, core intervals averaging 1 metre for mineralized samples and 2 metres for barren samples were cut in half at the Geological Survey of Finland (GTK) core facilities in Rovaniemi, Finland. The remaining half core is retained for verification and reference purposes. Analytical samples were transported by Mawson personnel or commercial transport from site to the CRS Minlab Oy facility in Kempele, Finland. Samples were prepared and analyzed for gold using the PAL1000 technique which involves grinding the sample in steel pots with abrasive media in the presence of cyanide, followed by measuring the gold in solution with flame AAS equipment. Multi-element assays, including cobalt are determined using the ICP-MS method (IMS-230) of MS Analytical shipped directly from the CRS Minlab Oy facility. The QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content, duplicate samples by quartering the core, and blanks the within interpreted mineralized rock. In addition, CRS and MS Analytical insert blanks and standards into the analytical process.

The qualified person for Mawson's Finnish projects, Dr. Nick Cook, President for Mawson and a Fellow of the Australasian Institute of Mining Metallurgy has reviewed and verified the contents of this release.

NI 43-101 Technical Report

On December 19, 2018, Mawson filed an independent National Instrument 43-101 Technical Report (the “NI 43-101 Technical Report”) on the Mineral Resource Estimate for the Raja and Palokas Prospects, at the 100% owned Rajapalot Project in Finland, (the “NI 43-101 Technical Report”), in support of the Company’s news release dated December 17, 2018. The NI 43-101 Technical Report was authorized by Mr. Rod Webster of AMC Consultants Pty Ltd (“AMC”) of Melbourne, Australia, and Dr. Kurt Simon Forrester of Arn Perspective of Surrey, England. Each of Mr. Webster and Dr. Forrester are independent “qualified persons” as defined by National Instrument 43-101. The NI 43-101 Technical Report may be found on the Company’s website at www.mawsonresources.com or under the Company’s profile on SEDAR at www.sedar.com.


About Mawson Resources Limited (TSX:MAW, FRANKFURT:MXR, PINKSHEETS:MWSNF)


Mawson Resources Limitedis a sustainable and ethical exploration and development company. Mawson has distinguished itself as a leading Nordic Arctic exploration company with a focus on the flagship Rajapalot gold-cobalt project in Finland.

On behalf of the Board,

"Michael Hudson"
Michael Hudson, Chairman & CEO
Further Information
www.mawsonresources.com
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), Corporate Secretary,
+1 (604) 685 9316, info@mawsonresources.com
Forward-Looking Statement

This news release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate, and similar expressions, or are those, which, by their nature, refer to future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, capital and other costs varying significantly from estimates, changes in world metal markets, changes in equity markets, planned drill programs and results varying from expectations, delays in obtaining results, equipment failure, unexpected geological conditions, local community relations, dealings with non-governmental organizations, delays in operations due to permit grants, environmental and safety risks, and other risks and uncertainties disclosed under the heading "Risk Factors" in Mawson's most recent Annual Information Form filed on www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Mawson disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

Figure 1: Plan of Rajapalot project area showing new Rumajärvi discovery, drilling, outlines of 43-101 resource, modelled ground TEM plates over a background of 25 and 50 metre-spaced ground magnetics.




Figure 2: Combined longitudinal section at Rajapalot prospect showing expansion of system into new areas at Rumajärvi and continuation of mineralization below existing resource. Outlines of existing resource are indicated.




Table 1: Collar Information from 2019 Winter drilling at the Rajapalot Project (Finnish Grid, Projection KKJ3)

HoleID

East

North

Azimuth

Dip

RL

Depth

Prospect

Comment

PAL0159

3408545.8

7372603.5

56

-71

179.162

473.8

Raja

Au results Mar 04 2019

Co results Apr 23 2019

PAL0160

3408485.8

7372581.1

67

-79

177.865

447

Raja

Au and Co results Apr 23 2019

PAL0161

3408696.1

7372556.6

57

-75

179.24

405.8

Raja

Au results Mar 04 2019

Co results Apr 23 2019

PAL0162

3408446.4

7372648.4

46

-84.5

180.158

482.9

Raja

Au results Mar 04 2019

Co results Apr 23 2019

PAL0163

3408487.0

7372587.9

65

-73.5

178.218

470.05

Raja

Au results Mar 04 2019

Co results Apr 23 2019

PAL0164

3408545.4

7372603.2

61.1

-75.6

178.586

441.7

Raja

Au and Co results Apr 23 2019

PAL0165

3408612.7

7372312.2

60

-79

176.25

167.9

Raja

Au results Mar 04 2019

Co results Apr 23 2019

PAL0166

3408897.7

7372385.3

240

-83

170.452

238.6

Raja

Au and Co results Apr 23 2019

PAL0167

3408486.0

7372587.0

96

-85

178

398.6

Raja

Au results Mar 04 2019

Co results awaited

PAL0168

3408554.5

7372806.4

233

-83

173.987

45.6

Raja

Abandoned hole

PAL0169

3408553.5

7372806.4

233

-83

173.987

545.8

Raja

Au and Co results Apr 23 2019

PAL0170

3408713.0

7372255.4

60

-79

172.803

200.2

Raja

Results Awaited

PAL0171

3408603.8

7372636.0

58

-73

179.753

497.6

Raja

Au and Co results Apr 23 2019

PAL0172

3408447.4

7372648.4

47

-79.5

180.158

491.9

Raja

Au and Co results Apr 23 2019

PAL0173

3408255.8

7373707.9

116

-56

173.48

427.9

South Palokas

Au results Mar 04 2019

Co results awaited VG

PAL0174

3408255.8

7373707.9

116

-69.5

173.48

8.3

South Palokas

Abandoned hole

PAL0175

3408830.5

7372237.5

60

-74

172.071

120.1

Raja

Results Awaited

PAL0176

3408937.3

7372300.3

240

-79.5

173.012

140.0

Raja

Au and Co results Apr 23 2019

PAL0177

3408434.0

7372388.0

240

-60

176.1

250.5

Rumajärvi

Results here

PAL0178

3408225.9

7372340.1

60

-75

177.064

237.2

Rumajärvi

Results awaited

PAL0179

3408105.5

7372350.5

60

-80

180.572

209.0

Rumajärvi

Results here

PAL0180

3408128.3

7372706.1

41

-61

173.634

778.65

Terry's Hammer

Results Awaited

PAL0181

3407954.6

7372245.0

150

-60

177.834

161.7

Rumajärvi

Results here

PAL0182

3407944.8

7372476.5

60

-70

176.8

439.65

Rumajärvi

Results here

PAL0183

3408094.0

7372422.1

160

-70

178.624

170.0

Rumajärvi

Results here

PAL0184

3407754.4

7372867.6

120

-50

173.07

211.8

Rumajärvi

Results here

PAL0185

3407900.4

7372519.6

60

-68

173.064

381.1

Rumajärvi

Results Awaited

PAL0186

3407905.2

7372446.2

55

-75

174.386

341.85

Rumajärvi

Results Awaited

PAL0187

3408547.0

7372492.4

47

-63.5

176.807

474

Raja

Results Awaited

PAL0188

3408630.2

7372440.6

53

-63.5

176.974

379.4

Raja

Au and Co results Apr 23 2019

PAL0189

3408768.8

7372378.8

48

-77

173.301

245.5

Raja

Au results Apr 23 2019, Cobalt results awaited VG

PAL0190

3408576.2

7372512.8

63

-65

177.732

427.9

Raja

Results Awaited VG

PAL0191

3408547.0

7372492.4

44

-58.5

176.807

492.1

Raja

Results Awaited VG

PAL0192

3408221.8

7373180.6

130

-60

171.892

203.2

Hut

Results Awaited

PAL0193

3408255.3

7373706.4

104

-53

173.478

427.15

South Palokas

Results Awaited

PAL0194

3408312.2

7373980.0

74

-57

173.8

497.8

Palokas

Results Awaited VG

PAL0195

3408353.9

7373580.2

65

-77

174.918

245.6

South Palokas

Results Awaited

PAL0196

3408089.1

7373031.9

90.5

-60

172.308

317.4

Hut

Results Awaited

PAL0197

3408271.4

7373630.1

63

-66.5

173.603

466.8

South Palokas

Results Awaited

PAL0198

3408414.1

7373660.3

117

-70

174.417

296.2

South Palokas

Results Awaited VG

PAL0199

3408126.6

7373140.2

215

-80

173.042

386.7

Hut

Results Awaited

PAL0200

3408312.2

7373979.0

62

-61.8

173.8

536.8

Palokas

Results Awaited

PAL0201

3408545.8

7372603.5

57

-67.25

179.162

281.0

Raja

Results Awaited

PAL0201D1

3408545.8

7372603.5

57

-67.25

179.162

195.0-392.2

Raja

Results Awaited

Table 2: Better intersections report from the 2019 Winter Drill Program.

Intersections are reported with a lower cut of 0.5g/t gold over 2 metre lower cut except where stated in the text. No upper cut-off was applied.

Prospect

Hole_id

from

to

width

AuEq

Au

Co

Raja

PAL0159

419.0

437.0

18.0

1.4

0.5

547




including

419.0

420.2

1.2

0.8

0.2

378




including

422.0

426.0

4.0

2.5

0.3

1377

Raja

PAL0159

434.0

437.0

3.0

3.4

2.3

672

Raja

including

429.0

432.0

3.0

0.9

0.1

488

Raja

PAL0159

451.0

455.5

4.5

3.2

1.9

754

Raja

PAL0161

305.5

313.0

7.5

1.1

0.0

636

Raja

PAL0161

336.0

338.0

2.0

2.7

2.1

362

Raja

PAL0161

344.0

349.0

5.0

3.3

2.3

600

Raja

PAL0162

323.0

324.0

1.0

1.2

0.0

701

Raja

PAL0162

452.0

453.0

1.0

0.9

0.0

562

Raja

PAL0163

416.6

419.4

2.8

10.9

0.0

6604

Raja

PAL0164

406.0

414.3

8.3

1.3

0.4

519

Raja

PAL0164

418.4

419.7

1.3

0.9

0.0

546

Raja

PAL0166

55.3

56.3

1.0

0.6

0.1

355

Raja

PAL0166

67.8

68.8

1.0

1.0

0.0

568

Raja

PAL0166

76.6

77.6

1.0

1.1

0.1

596

Raja

PAL0166

79.3

80.3

1.0

1.6

0.0

958

Raja

PAL0169

522.3

524.4

2.1

0.7

0.1

368

Raja

PAL0171

299.0

300.1

1.1

0.9

0.0

528

Raja

PAL0172

120.0

122.0

2.0

0.9

0.0

541

Raja

PAL0172

329.0

332.0

3.0

1.0

0.0

573

South Palokas

PAL0173

232.8

233.7

0.8


0.5


South Palokas

PAL0173

264.0

281.0

17.0


3.4





including

264.0

269.0

5.0


4.9





including

276.1

281.0

4.9


4.6


South Palokas

PAL0173

380.0

381.1

1.1


0.8


South Palokas

PAL0173

384.8

385.8

1.0


2.0


Raja

PAL0176

14.0

15.6

1.6

2.5

2.4

58

Raja

PAL0176

20.5

31.9

11.4

1.4

0.8

382

Raja

PAL0176

33.8

35.7

1.9

1.2

1.0

105

Raja

PAL0176

49.0

52.0

3.0

4.0

3.8

86

Rumajärvi

PAL0179

6.0

10.7

4.7

1.9

1.0

578

Rumajärvi

PAL0179

37.0

38.0

1.0

0.6

0.1

311

Rumajärvi

PAL0179

39.0

40.0

1.0

1.0

0.0

592

Rumajärvi

PAL0179

48.0

51.0

3.0

0.6

0.0

344

Rumajärvi

PAL0179

73.8

76.3

2.5

0.6

0.1

342

Rumajärvi

PAL0182

86.3

93.7

7.4

4.4

3.4

597

Rumajärvi

PAL0183

54.3

55.1

0.8

1.6

0.4

728

Rumajärvi

PAL0183

112.3

114.2

1.9

0.7

0.1

364

Rumajärvi

PAL0183

142.5

143.1

0.6

2.8

2.2

340

Rumajärvi

PAL0184

117.6

118.6

1.0

1.7

1.3

206

Raja

PAL0188

298.3

329.6

31.3

6.0

4.3

1030

Raja

PAL0188

298.3

315.6

17.4

4.8

2.9

1113

Raja

PAL0188

320.6

329.6

9.0

11.7

9.4

1412

Raja

PAL0188

337.9

338.9

1.0

3.1

3.1

35

Raja

PAL0189

165.0

165.8

0.8

1.1

1.1

0

Raja

PAL0189

182.9

186.0

3.2

4.5

4.5

0

Raja

PAL0189

194.0

195.0

1.0

1.1

1.1

0

Raja

PAL0189

202.0

205.0

3.0

4.5

4.5

0

Raja

PAL0189

210.0

211.0

1.0

1.6

1.6

0

Raja

PAL0189

213.2

214.3

1.1

7.2

7.2

0

Raja

PAL0189

220.6

221.6

1.0

0.5

0.5

0

Table 3: Individual assay data from key drill holes reported in this release.

hole_id

Prospect

from (m)

to (m)

width (m)

Au g/t

Co ppm

PAL0179

Rumajärvi

6

7

1.0

1.73

493

PAL0179

Rumajärvi

7

8.0

1.0

2.56

898

PAL0179

Rumajärvi

8.0

8.7

0.7

0.09

709

PAL0179

Rumajärvi

8.7

9.7

1.0

<0.05

252

PAL0179

Rumajärvi

37.0

38.0

1.0

0.05

311.1

PAL0179

Rumajärvi

38.0

39.0

1.0

<0.05

59.8

PAL0179

Rumajärvi

39.0

40.0

1.0

<0.05

592.3

PAL0170

Rumajärvi

48.0

49.0

1.0

<0.05

440.5

PAL0179

Rumajärvi

49.0

50.0

1.0

<0.05

263.3

PAL0179

Rumajärvi

50.0

51.0

1.0

<0.05

328.2

PAL0179

Rumajärvi

73.8

74.8

1.0

<0.05

422.5

PAL0182

Rumajärvi

86.3

87.0

0.7

0.56

976

PAL0182

Rumajärvi

87.0

87.9

0.9

2.01

1000

PAL0182

Rumajärvi

87.9

88.5

0.6

0.31

96

PAL0182

Rumajärvi

88.5

89.5

1.0

4.26

542

PAL0182

Rumajärvi

89.5

90.4

1.0

5.21

817

PAL0182

Rumajärvi

90.4

91.4

1.0

6.37

414

PAL0182

Rumajärvi

91.4

92.2

0.8

5.81

237

PAL0182

Rumajärvi

92.2

93.2

1.0

2.89

552

PAL0182

Rumajärvi

93.2

93.7

0.5

0.08

708

PAL0183

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To: LoneClone who wrote (15895)5/14/2019 1:54:27 PM
From: LoneClone
   of 16598
 
[Tungsten] Almonty Achieves Positive EBITDA from Mining Operations of $7,318,000 and Net Income of $0.02 Per Share in Q2 of FY 2019

ca.finance.yahoo.com

Business WireMay 14, 2019

TORONTO--(BUSINESS WIRE)--

Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / OTCQX: ALMTF / Frankfurt: 1MR) today announced the filing of its unaudited interim condensed consolidated financial statements and management’s discussion & analysis for the three and six months ended March 31, 2019. Unless otherwise indicated, all currency amounts contained in this news release are expressed in Canadian dollars.

The following financial information is for the three and six months ended March 31, 2019 and 2018:




Three Months
Three Months
Six Months
Six Months



Ended
Ended
Ended
Ended



31-Mar-19
31-Mar-18
31-Mar-19
31-Mar-18



$'000
$'000
$'000
$'000
Gross Revenue
13,051
17,302
29,463
28,069
Mine production costs 5,733
9,698
14,578
17,512
Reversal of impairment loss -
-
(4,150)
-
Depreciation and amortization 1,630
2,073
3,104
4,345
Earnings from mining operations 5,688
5,531
15,931
6,212










General and administrative costs 1,620
1,786
3,454
3,768
Non-cash compensation costs -
-
-
-
Earnings before the under noted items 4,068
3,745
12,477
2,444










Interest expense
654
615
1,302
1,232
(Gain) Loss on debt settlement -
-
(1,015)
-
Foreign exchange (gain) loss (718)
82
693
315
Tax provision
168
(711)
276
(711)
Net income for the period 3,964
3,759
11,221
1,608
Income per share - basic $0.02
$0.02
$0.06
$0.01
Income per share - diluted $0.02
$0.02
$0.06
$0.01
Dividends

-
-
-
-










Cash flows provided by (used in) operating activities 3,890
2,770
5,520
677
Cash flows provided by (used in) investing activities (1,729)
(2,077)
(3,316)
(3,434)
Cash flows provided by (used in) financing activities (1,950)
1,257
(1,564)
3,969









The following financial information is as at March 31, 2019, and September 30, 2018:




31-Mar-19
30-Sep-18



$'000
$'000
Cash

9,353
8,721
Restricted cash
1,262
1,245
Total assets
148,799
147,302
Long-term debt
49,689
50,331
Shareholders’ equity
51,963
40,863






Other






Outstanding shares (‘000) 181,442
181,442
Weighted average outstanding shares (‘000)


Basic

181,442
178,587
Fully diluted
183,350
179,078
Closing share price
$0.80
$0.81






Lewis Black, Chief Executive Officer of Almonty commented, “These results are continuing to reflect the go-forward cost structure and production profile of Almonty. To highlight this, the Company has seen an increase of 80.3% in EBITDA from mining operations when compared to the same six-month period in 2018. The Company’s outlook for the 2019 year is positive based on current pricing although we did see prices soften compared to the same quarter in 2018 but prices have now stabilized. As we have recently published on our website, work continues at our 100%-owned Sangdong project. The pilot plant is assembled after some changes we made to the layout and it will begin to produce commercial grade finished concentrate by June 2019. There is currently over 5,000 tons of fresh ore now on surface which is increasing as our mine development continues. We have passed the 350m mark in our mine development program underground and this continues to confirm the conservatism of our block models. We continue to move forward toward the closing of the previously announced financing for Sangdong. We believe Almonty is well placed to remain the dominant Western supplier of tungsten concentrate.”

About Almonty

The principal business of Toronto, Canada-based Almonty Industries Inc. is the mining, processing and shipping of tungsten concentrate from its Los Santos Mine in western Spain and its Panasqueira mine in Portugal as well as the development of its Sangdong tungsten mine in Gangwon Province, South Korea and the development of the Valtreixal tin/tungsten project in north western Spain. The Los Santos Mine was acquired by Almonty in September 2011 and is located approximately 50 kilometres from Salamanca in western Spain and produces tungsten concentrate. The Panasqueira mine, which has been in production since 1896, is located approximately 260 kilometres northeast of Lisbon, Portugal, was acquired in January 2016 and produces tungsten concentrate. The Sangdong mine, which was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China, was acquired in September 2015 through the acquisition of a 100% interest in Woulfe Mining Corp. Almonty owns 100% of the Valtreixal tin-tungsten project in north-western Spain. Further information about Almonty’s activities may be found at www.almonty.com and under Almonty’s SEDAR profile at www.sedar.com.

Legal Notice

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.

Disclaimer for Forward-Looking Information

When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. These statements and information are based on management’s beliefs, estimates and opinions on the date that statements are made and reflect Almonty’s current expectations.

Forward-looking statements in this press release include, among others, statements regarding Almonty’s future business plans and operations, the Company’s outlook for the 2018/2019 year, the timeline for its Sangdong mine to produce finished concentrate, the differences between the Company’s block models and actual results, anticipated future cost savings and future financing terms and supplier relations.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Almonty to be materially different from those expressed or implied by such forward-looking statements. Such risks include, but are not limited to, the risks discussed in the Company’s management discussion and analysis for the three months ended December 31, 2018 and in its annual information form for the year ended September 30, 2018.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to, no material adverse change in the market price of ammonium para tungstate (APT), the continuing ability to fund or obtain funding for outstanding commitments, expectations regarding the resolution of legal and tax matters, no negative change to applicable laws, the ability to secure local contractors, employees and assistance as and when required and on reasonable terms, and such other assumptions and factors as are set out herein. Although Almonty has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Almonty. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary.

Investors are cautioned against attributing undue certainty to forward-looking statements. Almonty cautions that the foregoing list of material factors is not exhaustive. When relying on Almonty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

Almonty has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Non-GAAP Financial Measures

This press release makes reference to certain non-GAAP financial measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS financial measures by providing further understanding of Almonty’s results of operations from management’s perspective. Almonty’s definitions of non-GAAP measures used in this press release may not be the same as the definitions for such measures used by other companies in their reporting. Non-GAAP measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of Almonty’s financial information reported under IFRS. Almonty uses non-GAAP financial measures, including “EBITDA”, to provide investors with supplemental measures of its operating performance and to eliminate items that have less bearing on operating performance or operating conditions, and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. Almonty defines “EBITDA from mining operations” as gross revenue less mine production costs.

Almonty believes that securities analysts, investors and other interested parties frequently use non-GAAP financial measures in the evaluation of issuers. Almonty’s management also uses non-GAAP financial measures in order to facilitate operating performance comparisons from period to period.

View source version on businesswire.com: businesswire.com

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To: LoneClone who wrote (15896)5/14/2019 2:33:28 PM
From: LoneClone
   of 16598
 
Canada Carbon: Miller Graphite Significantly Purer Than Commercial Synthetic Graphite Marketed for Use in Small Modular Nuclear Reactors

ca.finance.yahoo.com

GlobeNewswireMay 6, 2019

VANCOUVER, British Columbia, May 06, 2019 (GLOBE NEWSWIRE) -- Canada Carbon (the “Company”) (CCB:TSX-V) (BRUZF:OTC) ( FF) is pleased to announce that the Company has obtained market leading and statistically significant test results which indicate that, when compared with a synthetic nuclear grade graphite reference material, the Miller thermally purified natural graphite had far fewer detectable elemental contaminants overall, and significantly lesser amounts of those that were detectable.

Executive Chairman and CEO R. Bruce Duncan commented, “The new analytical results reported here are based on the direct comparison of the Miller graphite to a Certified Reference Material ("CRM") by 10 independent international labs and provide further evidence of the purity advantage of the Miller natural graphite over the commercially available synthetic graphite SGL NGB-18 which is being considered for use in small modular reactor development programs around the world. We anticipate that the Miller graphite will be classified as the standard by which all natural and synthetic nuclear grade graphites will be assessed.”

Technical Notes

A breakdown of the results can be found in Table 1, below.

Canada Carbon’s thermally upgraded Miller graphite was made available for method development work conducted by Subcommittee D02.F0 on Manufactured Carbon and Graphite Products of ASTM International, as first reported September 30th, 2015. The analytical devices employed for this new analytical method used Electro Thermal Vaporization & Inductively Coupled Plasma Optical Emission Spectrometry (“ETV-ICP OES”), which has now been shown to have the capability to decrease the elemental impurity detection threshold to parts per billion by weight in nuclear graphite samples. The new ASTM standard test method based on these results is expected to be published before the end of 2019.

The ASTM procedure to develop this new standard method for ultra-trace impurity determination in nuclear graphite grades involved supplying ten international laboratories equipped with ETV-ICP OES with a nuclear-grade CRM for instrument calibration, and identical samples of unknown nuclear purity graphite for later comparison of the measured impurity content detected by each lab. Statistical analysis indicating significant congruity of the collected analytical results for the unknown sample would serve to validate the method used. The CRM used was a commercial material identified as BAM-S009 (SGL NBG-18 synthetic nuclear grade graphite powder) and the ‘unknown’ was thermally purified natural graphite from the Company's Miller deposit. Each laboratory was to determine the concentrations of 21 elemental contaminants within each sample. 20 elemental contaminants were detected in the CRM by all 10 laboratories, whereas only 7 were detected in the Miller graphite. Of the 7 elements detected in the Miller graphite only 4 of the elements were detected by all 10 laboratories. (Please refer to the notes accompanying Table 1 for details.)

Statistical analysis of the compiled data showed that the CRM contained significantly higher amounts of the 7 elements than were found in the Miller thermally purified natural graphite. The CRM contaminant load for the seven elements ranged from 3.3 to 84.4 times higher than for the Miller graphite.

Executive Chairman and CEO R. Bruce Duncan further stated, “In the past (May 13th, 2015 press release), Canada Carbon reported on the comparative purity of its graphite by comparing its elemental contaminants with information available from an assessment made by Oak Ridge National Laboratory of other candidate nuclear graphites in 2011. Canada Carbon’s thermally treated Miller graphite contained only a small fraction of the selected elemental contaminants (0.99 ppm) when compared to the best natural graphite (Asbury RD 13371, at 36.55 ppm) and substantially lower contaminant levels than the best synthetic graphite samples SGL KRB-2000 (4.53 ppm) and the experimental GrafTech GTI-D (8.1 ppm). Today’s results confirm the purity advantage enjoyed by Canada Carbon’s Miller graphite.”

With these results in hand, the Company also wishes to disclose that it is in negotiations to have its Miller ultra-high purity natural graphite made available as a Certified Reference Material for laboratory use in instrument calibration for GDMS and ETV-ICP OES. Further developments in this regard will be reported when details are finalized.

Synthetic graphite for use in a nuclear reactor is typically supplied as a molded and machinable block known as a billet. It is formed during a lengthy high-temperature treatment of green billets made from a blend of petroleum coke particles and graphitizable binding resin. The Company is in the planning stage for developing a similar machinable graphite billet based on its ultra-high purity Miller graphite and graphitizable binding resin. If successful, this new material will significantly expand the applications for the Miller nuclear purity graphite within a reactor setting.

TABLE 1: ELEMENTAL CONTAMINANT CONCENTRATIONS FOR CCB MILLER NATURAL GRAPHITE AND COMMERCIALLY AVAILABLE SGL NBG-18 SYNTHETIC NUCLEAR GRAPHITE

ELEMENTAL CONTAMINANT CCB MILLER SGL NBG-18 CONTAMINANT RATIO CCB:SGL2

MEAN CONC. (PPB)1 MEAN CONC. (PPB)1
Al: ALUMINUM 5804 1940 1:3.3
B: BORON ND3 1320
Ba: BARIUM ND 1090
Ca: CALCIUM 160 13500 1:84.4
Co: COBALT 204 150 1:7.5
Cr: CHROMIUM ND 1520
Cu: COPPER ND 350
Fe: IRON 53605 36200 1:6.8
K: POTASSIUMI 60 3120 1:52
Li: LITHIUM ND 200
Mg: MAGNESIUM 30 270 1:9
Mn: MANGANESE ND 1230
Na: SODIUM 260 3010 1:11.6
Ni: NICKEL ND 5080
S: SULPHUR ND ND
Sr: STRONTIUM ND 320
Ti: TITANIUM ND 27100
V: VANADIUM ND 920
W: TUNGSTEN ND 270
Y: YTTRIUM ND 100
Zr: ZIRCONIUM ND 1140

Notes:

All concentrations are parts per billion by weight, the arithmetic mean of values reported by 10 laboratories (except as per notes 4 and 5). Calculated means have been rounded.Simple ratio of average mean concentrations of the specified elements for the two samples.ND = Not Detected.Detected by 3 labs.Detected by 4 labs.CANADA CARBON INC.

R. Bruce Duncan
CEO and Director

Contact Information
E-mail inquiries: info@canadacarbon.com
P: (604) 685-6375
F: (604) 909-1163

“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).


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