DNI concludes verification drill core resampling and advances toward summer drilling on its polymetallic black shale projects,
19 June 2012 - 6:13PM
PR Newswire (Canada)
DNI METALS INC. TORONTO, June 20, 2012 /CNW/ - DNI Metals Inc.
announces that it has made good progress toward resuming drilling
on its Alberta polymetallic black shale projects. Drill permit
applications were submitted a few weeks ago and expectations are
that this season's drill programs will mobilize into the field
during July to complete three drill programs intended: (i) to
expand and upgrade the existing Buckton initial inferred resource;
(ii) to commence drill testing of the Buckton South target
which is either an extension of the Buckton Zone 9km to its south
or is a separate mineralized Zone which has been extensively
sampled and trenched on surface in valley walls; and (iii) to
commence probing possible northerly extensions of the Buckton Zone
over at least an additional 6km of strike. The Buckton initial Base
Metals, Uranium and Specialty Metals inferred resource was
announced on October 24, 2011, and related contained REE-Y-Sc-Th
inferred resource was announced on January 16, 2012. Considerable
progress has also been made toward the ongoing resource study
relating to mineralized black shales overlying the Buckton initial
inferred resource. The cover rocks had previously been regarded as
"waste" but hold potential for hosting additional mineralized
tonnages from which Base Metals, Specialty Metals and Rare Earth
Elements (REEs) are recoverable by leaching as announced on March
1, 2012. The foregoing resource study relies on drill core samples
from DNI's 2010-2011 drilling, augmented by archived core from
historic drilling over the area verification sampling of which has
been completed (assay results pending). Other work in progress
includes bioleaching testwork on samples from black shales above
and beneath the Buckton inferred resource, and separate
collaborative work being carried out at CANMET Mining and Minerals
Science Laboratories. This work entails testwork toward the
commercialization of a heap leaching process for DNI's polymetallic
black shales, specifically focusing on formulating refining
procedures for separation of the various Rare Earth Elements (REEs)
from the leaching solution into saleable end-products, relying on
process technologies from Chinese ionic clay adsorbed REE ores as a
guide. DNI also announces that it has granted 500,000 stock
options, pursuant to the Company's Stock Option Plan, to its
officers and directors, to allow for the purchase of up to an
aggregate of 500,000 common shares at a price of 25 cents per share
for up to five years. 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. DNI - TSX Venture DG7 -
Frankfurt Issued: 69,546,689 post financing DNI Metals Inc.
CONTACT: DNI Metals Inc. - Shahe Sabag, President & CEO
(416-595-1195) orDenisClement, Chairman (416-364-1909) email
ir@dnimetals.com. Alsovisit www.dnimetals.com.
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