Search Minerals Inc. (TSXV: SMY) (“
Search” or the
“
Company”) is pleased to report that SGS Canada
(Lakefield) (“
SGS”) has been commissioned to
conduct preliminary metallurgical testing on a channel sample from
SILVER FOX for recovery of a zirconium and hafnium
mineral concentrate
. SILVER FOX is the fourth
major mineralized zone in the Port Hope Simpson – St. Lewis
Critical Rare Earth Element (“CREE”) District and is enriched in
zirconium content in comparison to
FOXTROT and
DEEP FOX Resources (see Search Minerals new
release: April 8, 2020).
HIGHLIGHTS – ZIRCONIUM AND HAFNIUM
RECOVERY TESTING
- A SILVER FOX sample weighing approximately 17
kilograms has been delivered from the channel sample program;
- SGS have proposed a program of preliminary
metallurgical work on the SILVER FOX sample
comprising:° Sample preparation (crushing and
grinding)° Sample characterization including zirconium
mineralogy° Concentration testing using gravity, magnetic
separation and zircon mineral flotation methods
- SGS will also test a sample of
FOXTROT leach residue from the recent optimization
program for by-product zirconium and hafnium recovery. The
preliminary SILVER FOX test results will be used
to select the test conditions for the FOXTROT
leach residue.
Greg Andrews, President/CEO states, “The
delineation of two CREE resources (FOXTROT & DEEP
FOX) and the discovery of two other significant CREE-Zr-Hf
mineralized zones (FOX MEADOW & SILVER FOX) is
a significant development for our company. We are very pleased to
engage our processing consultants, SGS Canada, to provide the
preliminary metallurgical work on zirconium and hafnium recovery
from the SILVER FOX and FOXTROT
material. SGS has been instrumental, along
with Dr. David Dreisinger, our VP-Metallurgy/Director, in the
development of the direct extraction process flowsheet for our rare
earth elements. Our focus remains on rare earth element recovery,
but the potential to add value through recovery of a zirconium and
hafnium coproduct is very exciting. Entry into the zirconium and
hafnium supply chains could offer additional funding and offtake
opportunities in addition to what is available from the rare earth
supply chain.”Qualified Person:
Dr. David Dreisinger, Ph.D., P.Eng., is the
Company’s Vice President, Metallurgy and Qualified Person for the
purposes of NI 43-101. Dr. Dreisinger has reviewed and approved the
technical disclosure contained in this news release as applicable.
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.
About SGS Canada
SGS is the world’s leading inspection,
verification, testing and certification company. SGS is recognized
as the global benchmark for quality and integrity. With more than
94,000 employees, SGS operates a network of over 2,600 offices and
laboratories around the world.Around the world, SGS offers a wide
range of integrated services for the hard rock, energy minerals and
fertilizer sectors including sustainable geochemical analysis,
resource calculation, mineralogy, metallurgical testing and
consulting, engineering services, advanced systems, water treatment
and trade services. For further information regarding these
and other SGS services, please visit
www.sgs.com/metallurgy.About Search Minerals
Inc.
Led by a proven management team and board of
directors, Search is focused on finding and developing resources
within the emerging Critical Rare Earth Element (“CREE”) District
of South East Labrador. The Company controls a belt 63 km long and
2 km wide including its 100% interest in the
FOXTROT and DEEP FOX Projects,
which are road accessible and at tidewater. Exploration efforts
have advanced FOX MEADOW and SILVER
FOX as new CREE prospects very similar to and in close
proximity to FOXTROT and DEEP
FOX. The FOXTROT Project has a capital
cost to bring the initial project into production ($152 M), a short
payback period and is scalable due to Search’s proprietary
processing technology.
For further information, please
contact:
Greg AndrewsPresident and CEOTel:
604-998-3432E-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.
Not for distribution to U.S. Newswire Services
or for dissemination in the United States. Any failure to
comply with this restriction may constitute a violation of U.S.
securities laws.
Cautionary Statement Regarding
“Forward-Looking” Statements:
This news release includes certain
“forward-looking information” and “forward-looking statements”
(collectively “forward-looking statements”) within the meaning of
applicable Canadian and United States securities legislation
including the United States Private Securities Litigation Reform
Act of 1995. All statements, other than statements of historical
fact, included herein, without limitation, statements relating the
future operating or financial performance of the Company, are
forward-looking statements.
Forward-looking statements are frequently, but
not always, identified by words such as “expects”, “anticipates”,
“believes”, “intends”, “estimates”, “potential”, “possible”, and
similar expressions, or statements that events, conditions, or
results “will”, “may”, “could”, or “should” occur or be achieved.
Forward-looking statements in this news release relate to, among
other things, technical results from the Company’s drilling program
and closing of the Offering. Actual future results may differ
materially. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements.
Forward-looking statements reflect the beliefs, opinions and
projections on the date the statements are made and are based upon
a number of assumptions and estimates that, while considered
reasonable by the respective parties, are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors, both known and
unknown, could cause actual results, performance or achievements to
be materially different from the results, performance or
achievements that are or may be expressed or implied by such
forward-looking statements and the parties have made assumptions
and estimates based on or related to many of these factors. Such
factors include, without limitation, the risk that the Company is
not able to find suitable investors for the Offering or does not
receive the approval of TSX Venture Exchange. Readers should not
place undue reliance on the forward-looking statements and
information contained in this news release concerning these times.
Except as required by law, the Company does not assume any
obligation to update the forward-looking statements of beliefs,
opinions, projections, or other factors, should they change.
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