Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) is saddened to announce the passing of Ms. Karen Poniachik, a member of the Aclara Board of Directors
"On behalf of Aclara, our employees and our Board of Directors, we extend our deepest condolences to Karen's family and friends," said Chairman Eduardo Hochschild. "It has been a privilege to know and work alongside her and we are grateful for her contributions to Aclara and to mining in Chile. She will be greatly missed."
Ms. Poniachik had been a director of Aclara since December 2021 and had been serving as the Chair of the Aclara Board's Sustainability Committee. She had been the Director of Columbia University's Global Centers Santiago since 2012 and a member of the board of directors and advisory boards of a number of companies and other entities. She previously served as Chile's first female Minister of Mining and acted as Chile's Special Envoy to the Organization for Economic Co-operation and Development (OECD) in the country's accession process to the organization.
Aclara is a development-stage rare earth mineral resources company located in Chile. Aclara is initiating the development of its resources through a project called the Penco Module (the "Penco Module"), which covers a surface area of approximately 600 hectares and which has ionic clays that are rich in rare earth elements. Aclara is currently focused on the development and on the future construction and operation of the Penco Module, which will aim to produce a rare earth concentrate through a processing plant that will be fed by clays from nearby deposits. Aclara's unique extraction process offers several advantages such as: no blasting, crushing or milling required; no tailings dam; minimal water consumption due to a high level of water recirculation; amenable leaching with a fertilizer; and no radioactivity.
Ramon Barua Chief Executive Officer investorrelations@aclara-re.com
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Aclara Resources (TSX:ARA), a rare earth element (REE) exploration and development mining company, is on a quest to reinvent mining as a climate-friendly industry, sustainably supplying minerals the world critically requires to achieve a low-carbon future.
Through its Penco Module ionic clay asset in Chile, Aclara is testing its innovative, patent-pending Circular Mineral Harvesting Process, a unique, sustainable extraction method developed in collaboration with the University of Toronto and the University of Concepción in Chile.
The mining industry has long-endured a negative public reputation. But recent efforts, such as the World Bank’s Climate-Smart Mining Initiative, are hoping to reshape the mining industry as a sustainable, vital partner in achieving the world’s net-zero emissions goals. The Climate-Smart Mining Initiative sets out guidelines to improve sustainability and minimize the environmental impact of mining operations.
Aclara Resources aims to be at the forefront of this movement.
Clean technologies, such as electric vehicles and wind turbines, require rare earth elements to manufacture the powerful magnets they need. However, while REEs are technically abundant in the Earth’s crust, there are few economically viable deposits worldwide, outside of Southern China and Myanmar. Ionic clay deposits, known as ionic adsorption clay (IAC), have three special characteristics, (1) contain high value of scarce heavy rare earths (HREE), (2) generate no radioactivity, and (3) have a simple metallurgy allowing for low costs and capital expenditures.
IAC are major contributors to the world’s total HREE output. For years, the only significant IAC deposit outside of China has been Ionic Rare Earth’s (ASX:IXR) Makuutu project in Uganda. Fortunately, that’s about to change as new IAC deposits have been discovered and are now moving towards development.
Aclara Resources’ Penco Module, the company’s flagship asset in Chile, contains ionic clays rich in both HREE and LREE. The project will be a testing ground for its Circular Mineral Harvesting Process for further optimization for future projects. This advanced extraction process does not use explosives, crushing or milling, nor produces solid or liquid residues.
The extraction process advances Aclara’s mission of becoming a leader in climate-smart mining practices. The Circular Mineral Harvesting Process produces no tailings dam, prioritizes revegetation, recirculates up to 95 percent of water used and 99 percent of the main reagent. This transformative new process led to the company earning the 2022 Sustainability Initiative of the Year award.
In addition to its new extraction process, Aclara has proposed and designed steps to achieve sustainability and ESG excellence throughout the Penco Module. These steps include preserving the local biological corridor, establishing a safety buffer to protect flora and fauna, reforestation of native species, and additional voluntary environmental protection commitment. The company recently voluntarily withdrew its Environmental Impact Assessment application following feedback from authorities to allow the company to reduce its environmental impact further. Aclara is now refining its operations before moving forward and resubmitting its application.
In parallel to the Penco Module development, Aclara owns a large concessions land package of 451,985 hectares to allow organic growth. The company is exploring to the south and north of the Penco Module (situated in only 600 hectares) to potentially incorporate additional modules in the medium term. An exploration plan has already been designed for the next 3 years and a drilling campaign is already underway.
Aclara Resources’ management team has diverse expertise throughout the natural resources sector. Experience includes project financing, REE project development, corporate management and international law. The range of experience builds confidence in the team’s ability to lead the company towards its goals.
A process developed by Aclara in collaboration with University of Toronto & University of Concepción
Aclara’s flagship asset covers 451,985 hectares of land in the Maule, Ñuble, Biobío and Araucanía regions of Chile. The project is fully funded to the construction decision and is a spin-off from Hochschild Mining’s REE project. Hochschild Group will retain a 57 percent interest in Aclara, which owns a land package and mineral concessions in Chile containing ionic clays rich in REEs. Environmental sustainability is paramount to the operation's goals, and the asset is close to a trained workforce and established infrastructure.
Ramon Barua has more than 10 years of experience as CFO of Hochschild Mining. He was previously CEO of Fosfatos del Pacifico S.A., general manager of Hochschild’s Mexican operations, and deputy CEO and CFO of Cementos Pacasmayo.
Rodrigo Ceballos has more than 20 years of experience working in molybdenum, rhenium and rare earths markets at companies including Molibdenos y Metales S.A (Molymet) and Mathiesen Corporation. He was a member of the Minor Metals and Molybdenum Committees of the London Metals Exchange.
Francois Motte has more than 10 years of experience in various financial positions, including serving in corporate finance, financial planning, management and control, business development and investor relations at Hochschild Mining.
Barry Murphy is an experienced mining industry veteran with more than 30 years of experience in the industry. Prior senior positions included roles at Torex Gold Resources, Inc., Yamana Gold Inc. and Anglo American. Additionally, he has led technical services and project development teams in Chile, Peru, Argentina, Mexico and South Africa.
Diego Brieba has more than 20 years of experience in the mining sector. His prior positions included working at Codelco as senior corporate counsel, head of the mining practice group at Prieto & Cía. Abogados in Chile and foreign legal consultant at McMillan Binch Mendelsohn LLP in Canada.
Dr. Azimi is an Associate Professor and Canada Research Chair joint-appointed between the Departments of Chemical Engineering & Applied Chemistry and Materials Science & Engineering at the University of Toronto. She is an expert in the fields of electrochemistry, thermodynamics, hydrometallurgy, supercritical fluids and materials design. She has published several journal and refereed conference publications and she continues to present her research in national and international conferences. She is also a co-inventor in a number of patent applications and one awarded patent.
Dr. Azimi received her Ph.D. from the University of Toronto and she completed her first and second postdoctoral appointments at MIT.
Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) is pleased to announce that the Company will be participating in strategic Rare Earths and Sustainability Mining conferences on September and October
Asian Metals - 13th Rare Earth Summit
On September 23, the Company will be participating in the Asian Metals 13th Rare Earth Summit in Hangzhou, China. Ramon Barua, CEO, will be giving the opening remarks of the event as well as presenting the recent developments of the Penco Module (defined below), the Company's heavy rare earths development project located in Chile.
For additional information please visit the following link:
https://www.asianmetal.com/Events_2022/2022RES/Index_2022RES_en.asp
Rare Earths Industry Association ("REIA") - 2022 Annual Conference
On October 5 and 6, the Company will be attending the REIA 2022 Annual Conference in Hanau, Germany. The conference is intended to improve the collaboration between the rare earths industry, its industrial customers, research institutions and governments to ensure these materials deliver on their incredible potential to decarbonize energy and transportation. Major downstream OEMs and Tier 1s such as BMW, Stellantis, Mercedes, Porsche, Polestar, ZF, Valeo, PSA, Mahle, Bosch, Brose, Shaeffler, Nidec, Grundfos, Danfoss, BASF, among other, will be participating as speakers, panelists, and attendees.
Rodrigo Ceballos, General Manger and President, and Francois Motte, CFO, will be available in-person for meetings throughout the conference to discuss potential business opportunities as well as Aclara's plans for the Penco Module. Aclara will have a spotlight to pitch the Penco Module unique value proposition.
For additional information please visit the following link:
https://www.global-reia.org/conference-2022/
Metal Events Limited - 18th International Rare Earths Conference
On October 18, the Company will be attending the Metal Events 18th International Rare Earths Conference in Las Vegas, USA. Ramon Barua, CEO, and Francois Motte, CFO, will be available in-person for meetings throughout the conference to discuss potential business opportunities.
For additional information please visit the following link:
https://metalevents.com/events/18th-international-rare-earths-conference-2
MIT - Sustainability Mining & Energy Conference
On October 18, the Company will be also attending the MIT - Sustainability Mining & Energy Conference in Santiago, Chile. The conference is intended to discuss the roles that climate change, biodiversity loss, water scarcity, and other critical environmental challenges will play in global, national, regional, and urban markets. This conference will highlight the MIT knowledge and expertise on sustainable mining and the clean energy transition.
The Company will be presenting the Aclara's environmental and social unique value proposition as part of the fight against the climate change. Rodrigo Ceballos, General Manger and President, and Fernando Illanes, Public Affairs Manager, will be available in-person for meetings throughout the conference to discuss Aclara's plans for the Penco Module in Chile.
For additional information please visit the following link:
Aclara is a development-stage rare earth mineral resources company located in Chile. Aclara is initiating the development of its resources through a project called the Penco Module (the "Penco Module"), which covers a surface area of approximately 600 hectares and which has ionic clays that are rich in rare earth elements. Aclara is currently focused on the development and on the future construction and operation of the Penco Module, which will aim to produce a rare earth concentrate through a processing plant that will be fed by clays from nearby deposits. Aclara's unique extraction process offers several advantages such as: no blasting, crushing or milling required; no tailings dam; minimal water consumption due to a high level of water recirculation; amenable leaching with a fertilizer; and no radioactivity.
This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements with regard to advancing the exploration and development of the Penco Module, the exploration of potential new modules and the completion of a feasibility study on the Penco Module. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to the factors discussed under "Risk Factors" in the Company's final prospectuses each dated December 2, 2021 filed on the Company's SEDAR profile. Actual results coulddiffer materially from those projected herein. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information, please contact:
Ramon Barua Chief Executive Officer investorrelations@aclara-re.com
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Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) is pleased to announce that the Business Intelligence Group has designated Aclara as one of the receivers of this year's Sustainability Initiative of the Year award, in the 2022 Sustainability Awards program. The Sustainability Awards honor those organizations who have made sustainability an integral part of their business practice or overall mission
"We are proud to reward and recognize Aclara Resources for their sustainability efforts," said Maria Jimenez, Chief Nominations Officer, Business Intelligence Group. "It was clear to our judges that their vision and strategy will continue to deliver results toward a cleaner, more sustainable world. Congratulations!"
Ramon Barua, Aclara's CEO, commented: "We are glad to be recognized with the Sustainability Initiative of the Year award, as it reflects the efforts that the Company is carrying out in order to be the cleanest Heavy Rare Earths supplier in the world. We have developed a clean and simple process around our unique ionic clays deposit that allows us to extract its valuable rare earths sustainably. There are no explosives, no crushing, no milling, and no tailings dam. Our main reagent is a fertilizer, which will be recovered and reused during the process, with an efficiency close to 99%. And most importantly, we do not generate any liquid or solid wastes. Our product is 100% free of radioactivity. On top of that, we will have very low water consumption and will recirculate up to 95% of water used in the process. Finally, we will revegetate all extraction areas with native species, seeking to preserve and rehabilitate natural forests. We believe that being able to produce clean rare earths in Chile is our main competitive advantage. At Aclara, we are moved by creating environmental wealth in everything we do"
This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements with regard to, among other things, the efficacy and sustainability of the Company's extractive process and contemplated operations, and any competitive advantages derived therefrom. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Company's annual information form dated as of March 30, 2022 filed on the Company's SEDAR profile. Actual results and timing could differ materially from those projected herein. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
Aclara is a development-stage rare earth mineral resources company located in Chile. Aclara is initiating the development of its resources through a project called the Penco Module (the "Penco Module"), which covers a surface area of approximately 600 hectares and which has ionic clays that are rich in rare earth elements. Aclara is currently focused on the development and on the future construction and operation of the Penco Module, which will aim to produce a rare earth concentrate through a processing plant that will be fed by clays from nearby deposits. Aclara's unique extraction process offers several advantages such as: no blasting, crushing or milling required; no tailings dam; minimal water consumption due to a high level of water recirculation; amenable leaching with a fertilizer; and no radioactivity.
For further information, please contact:
Ramon Barua Chief Executive Officer investorrelations@aclara-re.com
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Bravo Mining Corp. (TSXV: BRVO), (OTCQX: BRVMF), ("Bravo" or the "Company") today announced that it has received the overlimit (>1.0 g/t) rhodium ("Rh") assay results from drill hole PPT-LUAN-FD0065 at its wholly owned Luanga palladium + platinum + rhodium + gold + nickel project ("Luanga" or "Luanga PGM+Au+Ni"), located in the Carajás Mineral Province, state of Pará, Brazil. Preliminary results for PPT-LUAN-FD0065 were announced in the news release dated September 27th, 2022, reporting re-assay of samples from historic diamond drill holes ("DDH"). These results included a 2m interval that exceeded the upper limit of 1.0g/t rhodium for the assay methodology used. This sample was re-assayed for rhodium using the applicable methodology for higher rhodium grades and has returned exceptional rhodium values.
"We are highly encouraged that PGM intercepts are proving to not only correlate well with historic results in thickness but can show significant improvements in grade on re-assay," said Luis Azevedo, Chairman and CEO of Bravo. "We are particularly excited by the high rhodium assay results and believe that the Luanga deposit could be a rare example globally due to its concentration of valuable rhodium metal, particularly in some parts of the deposit."
Notes: All 'From', 'To' depths, and 'Thicknesses' are downhole. Given the orientation of the hole and the mineralization, the intercept is estimated to be 85% of true thickness. Type: Ox = Oxide. LS = Low Sulphur. Recovery methods and results will differ based on the type of mineralization. NA: Not Applicable as intercept is oxide or a mix of oxide and fresh rock mineralization.
Luanga Re-Assay and Phase 1 Drilling Progress
A comparison of the historic intercept with the Bravo re-assay result for PPT-LUAN-FD0065 is tabulated below, with a plan showing the location of the drill hole. The thickness for the overall intercept and the higher-grade section within it correlate well with the historic intercepts, with the exception of Rh which significantly exceeds the historic values.
Comparison of Re-Assayed Intercepts – Historic Intercept (SGS Laboratory) versus Bravo Intercept (ALS Laboratory)
Individual Re-Assay Grades of Intercections (PPT-LUAN-FD0065) – Bravo, ALS Laboratory
Individual Original Assay Grades of Intersections (PPT-LUAN-FD0065) – Vale, SGS Laboratory
Notes: All 'From', 'To' depths, and 'Thicknesses' are downhole. Given the orientation of the hole and the mineralization, the intercept is estimated to be 85% of true thickness. Type: Ox = Oxide. FR = Fresh Rock. LS = Low Sulphur. Recovery methods and results will differ based on the type of mineralization. NA: Not Applicable as intercept is oxide or a mix of oxide and fresh rock mineralization. * = Note that Bravo's nickel grades are for sulphide nickel, which is representative of potentially recoverable (by froth flotation treatment) nickel, and does not include non-recoverable silicate nickel, unlike historic total nickel assays.
The Phase 1 diamond drill program continues as planned at Luanga. Six drill rigs are on site, with drilling progressing in various locations along the entire 7km strike length of the known Luanga mineralized envelope (as defined by historic drilling). To date, 84 drill holes have been completed, for a total of 14,579 metres of the planned 25,500 metre Phase 1 drill program.
Location of Historic Drill Hole Results Discussed in this Report
Bravo is a Canada and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM + Au + Ni Project in the world-class Carajás Mineral Province of Brazil.
The Luanga Project benefits from being in a location close to operating mines, with excellent access and proximity to existing infrastructure, including road, rail and clean and renewable hydro grid power. The project area was previously de-forested for agricultural grazing land. Bravo's current Environmental, Social and Governance activities include replanting trees in the project area, hiring and contracting locally, engagement with local communities, and ensuring protection of the environment during its exploration activities.
Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company's "qualified person", as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Mottram has verified the technical data and opinions contained in this news release.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "believe", "exceptional", "highly encouraged", "correlate", "significant", "improvement", "highly encouraged", "rare", "valuable", and other similar words, phrases or statements that certain events or conditions "could", "should", or "will" occur. In particular, this news release contains forward-looking information pertaining to the Company's ongoing re-assay and drill programs and the results thereof and the potential for a continued increase in grades relative to historic assays. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm the interpreted mineralization contains significant values of nickel, copper and also contain PGMs and Au; final drill and assay results will be in line with management's expectations; that re-assayed may continue to outperform historic grades; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
Schedule 1: Drill Hole Collar Details
Schedule 2: Assay Methodologies and QAQC
Samples followed chain of custody between collection, processing and delivery to the ALS laboratory in Parauapebas, state of Pará, Brazil. The drill core was delivered to the core shack at Bravo's Luanga site facilities and processed by geologists who inserted certified reference materials, blanks and duplicates into the sampling sequence. Drill core was quarter cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas ALS laboratory by Bravo staff. Additional information about the methodology can be found on the respective ALS or SGS global websites (ALS, SGS) in their analytical guides. Information regarding preparation and analysis of historic drill core is also presented in the table below, where the information is known.
Quality Assurance and Quality Control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.
For further information about Bravo, please visit www.bravomining.com
E-Tech Resources Inc. (TSXV: REE) (FSE:K2I) ("E-Tech" or "Company") is pleased to announce results of its annual meeting held September 27, 2022.
All resolutions were passed, and the shareholders have elected Jim Megann, John Philpott, Ken Marshall, Christopher Drysdale, and Frances Wall as directors of the Company. In addition, the Company has appointed Jim Megann as interim CEO, replacing Mr. Daniel Whittaker, who will step down as interim CEO of the Company in order to direct his focus to the expansion of other exploration projects.
Jim Megann is an accomplished executive and business leader with experience in the exploration, communications and marketing industries. He currently sits on the Board of Directors of Torrent Capital Ltd., Sona Nanotech Inc., and OARO and is the former CEO of Stockport Exploration Inc.
E-Tech will continue its search for a permanent CEO to lead the Company in its next phase of exploration. "We are pleased to have Jim Megann lead the Company as CEO on an interim basis," said Dan Whittaker, outgoing interim CEO. "E-Tech's board and management team is well positioned to develop an exploration and operational plan to advance the Eureka project."
"There has been a lot happening at E-Tech, notably the most recent widespread exploration program and the signing of a Letter of Intent with the Saskatchewan Research Council (SRC)," said Jim Megann, interim CEO. "The Company has been in the process of completing its radiometric and magnetic survey, which has been augmented with a robust mapping and grab sampling campaign. These results are being used to define future drill targets, further giving us confidence on the expanded size potential for Eureka. E-Tech and the SRC intend to continue to cooperate in the supply of a sustainable source monazite concentrate. We are eager to continue the excellent work being completed in Namibia."
E-Tech is a rare earth exploration and development company focused on developing its Eureka Rare Earths Project in Namibia. The Eureka project is located approximately 250 km north-west of Namibia's capital city Windhoek and 140 km east of Namibia's main industrial port Walvis Bay. The project is situated next to the national B1 highway in the Erongo Region of Namibia.
The Eureka deposit lies in the Southern Central Zone of the Neoproterozoic Damara Belt within Exclusive Prospecting License ("EPL") number EPL 6762, which covers farms Eureka 99 and Sukses 90.
Namibia is recognized as one of Africa's most politically stable jurisdictions, with an extremely well-established national infrastructure and a clear and transparent mining law.
This press release may contain forward-looking information, such as statements regarding the appointment of directors and consultants. This information is based on current expectations and assumptions (including assumptions relating to general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from results suggested in any forward-looking information. E-Tech does not assume any obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by securities laws applicable to E-Tech. Additional information identifying risks and uncertainties is contained in the filings made by E-Tech with Canadian securities regulators, which filings are available at www.sedar.com.
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.
For further information, please contact Jim Megann, Interim CEO of E-Tech Resources Inc., at (902) 442-7192.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138779
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Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (" Search " or the " Company "), is pleased to provide an update on our 2022 exploration programs in Labrador, Canada.
Greg Andrews, President/CEO, comments: "We have had a very busy exploration season so far this year. In addition to managing the exploration program, we expanded our exploration team and expanded our facilities and infrastructure in St. Lewis, Labrador. Search renovated its modern office and core shed facilities and built an additional storage shed to manage the increased drill core. We also purchased property in St. Lewis for our 2 – six-person trailers which are being utilized for our increased need for local accommodations."
Andrews added; "We continue to work toward a feasibility study for the end of 2023, and the Deep Fox drill program should provide a measured resource category as well as expanded indicated and inferred resource for an updated mineral resource calculation expected in 2023."
The 2022 Deep Fox Exploration Program commenced in early June, following the mobilization of two diamond drilling rigs to St. Lewis, Labrador. The drill program has two main objectives: (i) further define and delineate the Deep Fox mineral resource, to update the mineral resource estimate suitable for a feasibility study, and (ii) collect the necessary geotechnical and hydrogeological data to facilitate an optimized mine planning and design process.
The first month of drilling was helicopter-supported, providing access to areas previously inaccessible due to the steep and rocky nature of the terrain. We have completed the Geotechnical and Hydrogeological drill program which utilized one of the drill rigs. The remainder of the drill program is being completed using the two track-mounted drills. The 2022 Deep Fox program is approximately 60% complete, with a total of 46 drill holes advanced to date. The remainder of the Deep Fox drilling program will focus on ensuring that the area within the currently proposed open pit has been adequately drilled, and that the mineral resource is aligned with the next phase of technical reporting. We are anticipating finishing the drill program by early November.
A summary of the 2 separate drilling initiatives are outlined below:
Our exploration team will be carrying out a 200 m channel sampling program designed to extend the mineralized zone to the SE. We will review the possibility of a smaller drill program pending available personnel and funding.
Exploration efforts in the Fox Valley area have consisted of the building of an access trail to the mineralized area, with the intention of conducting a preliminary assessment of surface mineralization. This trail is complete, exploration in this area will consist of test pitting and channel cutting, and is anticipated to be complete by the end of November.
Our exploration team is planning a two-week helicopter-supported exploration program in the Red Wine area of central Labrador. Exploration will consist of prospecting, mapping, channel cutting, and detailed drone imagery on the Two Tom Lake, Mann #1, Narnia Hill and Merlot prospects. This preliminary program will prepare these REE mineralized zones for a more extensive exploration programs in 2023-2024.
Dr. Randy Miller, Ph.D., P.Geo, is the Company's Vice President, Exploration, and is a "qualified person" (as defined by NI 43-101) and has supervised the preparation of and approved all scientific and technical information herein and has conducted appropriate verification on the underlying data. The Company will endeavor to meet high standards of integrity, transparency, and consistency in reporting technical content, including geological and assay (e.g., REE) data.
About Search Minerals Inc. Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson – St. Lewis CREE District of South East Labrador. Search controls two deposits (Foxtrot and Deep Fox), two drill ready prospects (Fox Meadow and Silver Fox) and numerous other REE prospects, including Fox Valley, Foxy Lady and Awesome Fox, along a 64 km long belt forming a REE District in Labrador. Search has completed a preliminary economic assessment report for DEEPFOX and FOXTROT. Search is also working on three exploration prospects along the belt which include: FOX MEADOW, SILVER FOX and AWESOME FOX .
Search has continued to optimize our patented Direct Extraction Process technology with the support from the Department of Industry, Energy ad Technology, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining. We also recognize the continued support by the Government of Newfoundland and Labrador for its Junior Exploration Program.
Search Minerals was selected to participate in the Government of Canada Accelerated Growth Service (" AGS ") initiative, which supports high growth companies. AGS, as a ‘one-stop shop' model, provides Search with coordinated access to Government of Canada resources as Search continues to move quickly to production and contribute to the establishment of a stable and secure rare earth element North American and European supply chain.
Cautionary Statement Regarding "Forward-Looking" Statements:
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's exploration plans and the preparation of the PEA and Definitive Feasibility Study, and the timing thereof, and other forward-looking information. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, results of exploration work, the ability to secure any required funding, receipt of all required regulatory approval and the ability to secure the necessary resources to complete the planned exploration work.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's financial condition and development plans do not change as a result of unforeseen events, and that the Company will receive all required regulatory approvals.
Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com .
For further information, please contact:
Greg Andrews President and CEO Tel: 604-998-3432 E-mail: info@searchminerals.ca
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Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (" Search " or the " Company "), is pleased to announce that two bulk samples of mineralization from Deep Fox and Foxtrot have been processed in our PHASE 1 magnetic separation program at SGS Canada (Lakefield) (" SGS "). The Deep Fox sample comprises 53 metric tonnes recovered from the exposed surface of the deposit. Similarly, the Foxtrot sample comprises 20 tonnes of surface material.
The SGS program involved bench scale work to test the amenability of the two samples to magnetic separation and then the execution of a continuous pilot plant operating at ~550 kg per hour of feed material over 15 separate pilot plant periods to produce a pre-concentrate of iron by Low Intensity Magnetic Separation (LIMS) and a rare earth concentrate by Wet High Intensity Magnetic Separation (WHIMS) and a final tailing material for environmental testing.
The results of the magnetic separation pilot plant on the two bulk samples were in line with expectations.
Highlights of the program were,
Dr. David Dreisinger, Director/Vice-President of Metallurgy states; "The results of the testing on the two bulk samples were in line with expectations and provide a basis for "scale up" of the commercial facility. The availability of approximately 18.9 tonnes of rare earth concentrate allows us to move to our larger scale testing of the Direct Extraction Process. The benefit of producing a concentrate, using the grinding and magnetic circuit, prior to our proprietary Direct Extraction Process, is the reduction in size of equipment and reduced chemical and energy use to obtain similar overall recoveries of saleable rare earth elements."
Greg Andrews, President/CEO states; "We continue with our "Sprint to Production" and this is a very important step to scale up and produce more material for further separation into individual oxides of the permanent magnet material, Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy) and Terbium (Tb). These are the key elements which create the value in the rare earth element supply chain. Upon producing the oxides, we are seeking co-funded government programs to process the 18.9 tonnes of rare earth concentrate using our proprietary Direct Extraction Process to produce approximately 1t of mixed rare earth oxide concentrate for further separation processing. Ultimately, Search will demonstrate the transformation of the permanent magnet oxides into metal as a precursor to magnet fabrication."
Dr. David Dreisinger, Ph.D., P.Eng, is the Company's Vice President, Metallurgy, and Qualified Person (as defined by National Instrument 43-101) who has supervised the preparation of and approved the technical information reported herein. The company will endeavour to meet high standards of integrity, transparency, and consistency in reporting technical content, including geological and assay (e.g., REE) data.
SGS is the world's leading testing, inspection and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 96,000 employees, SGS operates a network of over 2,700 offices and laboratories around the world. SGS is constantly looking beyond customers' and society's expectations in order to deliver market leading services wherever they are needed. Working together to make the world a better, safer place.
Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson – St. Lewis CREE District of South East Labrador. Search controls two deposits (Foxtrot and Deep Fox), two drill ready prospects (Fox Meadow and Silver Fox) and numerous other REE prospects, including Fox Valley, Foxy Lady and Awesome Fox, along a 64 km long belt forming a REE District in Labrador. Search has completed a preliminary economic assessment report for DEEPFOX and FOXTROT. Search is also working on three exploration prospects along the belt which include: FOX MEADOW, SILVER FOX and AWESOME FOX .
Search has continued to optimize our patented Direct Extraction Process technology with the support from the Department of Industry, Energy ad Technology, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining. We also recognize the continued support by the Government of Newfoundland and Labrador for its Junior Exploration Program.
Search Minerals was selected to participate in the Government of Canada Accelerated Growth Service (" AGS ") initiative, which supports high growth companies. AGS, as a ‘one-stop shop' model, provides Search with coordinated access to Government of Canada resources as Search continues to move quickly to production and contribute to the establishment of a stable and secure rare earth element North American and European supply chain.
For further information, please contact:
Greg Andrews President and CEO Tel: 604-998-3432 E-mail: info@searchminerals.ca
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.
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Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration and production company focused on developing assets in southern Saskatchewan, is pleased to announce the appointment of Ms. Kristi Kunec to the role of Chief Financial Officer, effective September 12, 2022.
Ms. Kunec brings over 15 years of financial experience to HEVI, with a proven track record that includes leading the corporate finance, organizational planning and financial reporting functions for growing resource companies. Over the last 13 months, she has served as part-time Controller for Kanata Clean Power & Climate Technologies Corp., and prior thereto was Chief Financial Officer and Corporate Secretary for Pine Cliff Energy Ltd. (TSX:PNE). Ms. Kunec directly contributed to the growth of the company from approximately 100 boe/d to 24,000 boe/d, which included closing four equity offerings that raised more than $170 million, and the completion of two corporate and seven asset acquisitions. Prior to Pine Cliff, Ms. Kunec was Controller for North American Oil Trust, Corporate Controller for Orion Oil & Gas Corporation, and Manager of Financial Reporting for TransGlobe Energy Corporation. After earning a Bachelor of Commerce degree from the University of Saskatchewan, she began her career at PriceWaterhouseCoopers LLP in 2003, earning her CPA, CA designation in May of 2006.
"As a relatively new entrant to the capital markets following our TSXV listing in March, I am very pleased to welcome Kristi to the HEVI management team and to work alongside a financial executive of her calibre," said Greg Robb, President & CEO of HEVI. "We look forward to leveraging Kristi's extensive expertise in financial reporting, strategic planning and corporate finance as we continue to develop and prove up our sizeable land base, and advance our goal of achieving commercial production of helium in the next 12 to 24 months."
In concert with the above appointment, HEVI has granted 400,000 stock options (the " Options ") under the Company's stock option plan (the " Option Plan ") to Ms. Kunec (the " Option Recipient ").
Each Option represents the right to receive one common share of the Company upon vesting, exercisable at a price of $0.30. The Options will vest as to 20% on each of the 6 th , 12 th , 18 th , 24 th and 30 th month anniversaries of the date of grant. The Options will expire on September 12 th , 2027.
These grants represent compensation for service to HEVI as an officer of the Company and serve as an incentive mechanism to foster the interest of such persons in the ongoing success of the Company.
Helium Evolution is a Canadian-based helium exploration and production company holding the largest helium land rights position in North America among publicly-traded companies, focused on developing assets in southern Saskatchewan. The Company has over five million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI's management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market, offering a compelling opportunity for investors.
For further information, please contact:
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements regarding the Company's expectations regarding the Company's exploration plans, including the Company's goal of achieving commercial production within the next 12 to 14 months, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may choose to defer, accelerate or abandon its exploration plans; new laws or regulations and/or unforeseen events could adversely affect the Company's business and results of operations; stock markets have experienced volatility that often has been unrelated to the performance of companies and such volatility may adversely affect the price of the Company's securities regardless of its operating performance risks generally associated with the exploration for and production of resources; the uncertainty of estimates and projections relating to expenses; constraint in the availability of services; commodity price and exchange rate fluctuations; the current COVID-19 pandemic; adverse weather or break-up conditions; and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.
When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such 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 reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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.
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Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration and production company focused on developing assets in southern Saskatchewan, today announced the filing of our unaudited financial results for the three-and six-month periods ended June 30, 2022, along with a corporate update that includes a change in management and posting of an updated corporate presentation on HEVI's website.
For complete details of the consolidated financial statements and the associated management's discussion and analysis (" MD&A "), please refer to the Company's filing on SEDAR ( www.sedar.com ).
HEVI Q2 & First Half 2022 Highlights:
1 The weighted average number of common shares outstanding is not increased for outstanding stock options and warrants when the effect is anti-dilutive.
The second quarter of 2022 was HEVI's first full quarter as a publicly traded company, cementing HEVI's position as the largest holder of helium exploration rights in North America among publicly-traded helium companies. The most significant highlight during the quarter was our announcement of HEVI's farmout agreement (the " Farmout Agreement ") with North American Helium Inc. (" NAH ") and associated non–brokered, brokered and strategic investor private placements that raised aggregate gross proceeds of $6.9 million. The NAH farmout agreement validates and differentiates HEVI's strategy, while aligning the Company with one of the helium industry's leading operators. The related financings enhanced HEVI's financial flexibility to fund the farmout arrangement and execution of our overall strategy, while also contributing to a cash balance of approximately $14.0 million exiting Q2/22.
HEVI's internal exploration and development program is supplemented by our farmout with NAH which provides additional opportunities and further capital to prove up the Company's asset base and continue driving towards commercialization. Under the farmout, NAH will drill a total of five wells while incurring 100% of the drilling expenditures on three predetermined land blocks in Saskatchewan, representing approximately 2.3 million acres located west of the third meridian (the " Blocks "), excluding our current drilling focus at McCord. For each well drilled, NAH will earn an 80% operated interest in the section on which the well was drilled plus nine contiguous sections of land adjoining to the well, up to a maximum of 32,000 acres. HEVI will retain a 20% working interest in the earned lands and each successful well drilled by NAH (the " HEVI Working Interest ").
Capital expenditures during the second quarter totaled $1.06 million, largely directed to licensing and environmental work, the commencement of drilling the Company's first helium exploration well, along with the pre-purchase of casing to mitigate against ongoing supply chain issues. Drilling of both wells concluded during the third quarter, and although both indicated the presence of helium, the targeted geological traps did not contain sufficient quantities of helium to support production testing at this time. HEVI is committed to continued capital discipline and is in the process of conducting further analysis on logs and other information obtained through the drilling process to date. We intend to secure additional 2D seismic at McCord to facilitate and enhance visibility into the play, and may also elect to re-enter these wells in the future. We believe the NAH drilling program will also provide valuable data to support the identification of future high-quality drilling targets.
Currently, HEVI has approximately $10 million in cash and stringent cost reduction initiatives in place to optimize funds for asset development. In addition, we benefit from a valuable farmout agreement that can complement our ongoing exploration and development efforts. The HEVI team maintains full confidence in the prospectivity of our sizeable land package and due to the long tenure of helium permits granted by the Government of Saskatchewan, retain considerable flexibility in managing our capital.
Management Change and Updated Corporate Presentation
HEVI also announced today that Chief Financial Officer, Ryan Tomlinson, has resigned his position effective August 24, 2022 having accepted a new role within a different industry. HEVI is currently searching for a replacement to fulfill the duties previously discharged by Mr. Tomlinson. HEVI wishes Mr. Tomlinson the best in his future endeavours.
Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company's website , which includes an updated corporate presentation , and are invited to follow the Company on LinkedIn and Twitter for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive' research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers. In addition to recent media articles , HEVI maintains a profile on the Investing News Network platform, where further information, editorial pieces and industry reviews are available.
Helium Evolution is a Canadian-based helium exploration and production company holding the largest helium land rights position in North America among publicly-traded companies, focused on developing assets in southern Saskatchewan. The Company has over five million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI's management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market, offering a compelling opportunity for investors.
For further information, please contact:
This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements regarding the Company's expectations regarding the Company's exploration program, including the purchase of 3D seismic and activities related to the Farmout Agreement, increasing shareholder value, the retention of a new chief financial officer and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may choose to defer, accelerate or abandon its drilling plans; new laws or regulations and/or unforeseen events could adversely affect the Company's business and results of operations; stock markets have experienced volatility that often has been unrelated to the performance of companies and such volatility may adversely affect the price of the Company's securities regardless of its operating performance risks generally associated with the exploration for and production of resources; the uncertainty of estimates and projections relating to expenses; constraint in the availability of services; commodity price and exchange rate fluctuations; the current COVID-19 pandemic; adverse weather or break-up conditions; and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.
When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such 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 reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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.
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