VANCOUVER, BC, Nov. 9, 2021 /CNW/ - Strategic Resources
Inc. (TSXV: SR) (the "Company" or
"Strategic") is pleased to announce that it has
transferred existing environmental permits for its 100% owned
vanadium-iron Mustavaara project in Finland. The transfer was from the Ferrovan Oy
bankruptcy estate to Strategic Explorations Oy and includes the
environmental and water permits issued to Mustavaaran Kaivos Oy in
2016 by the Regional State Administrative Agency for Northern Finland (PSAVI). The water permit is
scheduled to lapse in July 2022 and
the environmental permit could lapse as early as July 2023. Strategic plans to submit applications
for extensions for both the water and environmental permits in
early 2022. In addition, Strategic is working to submit its
exploration license applications to transition its concessions from
reservation status by early 2022.
On May 10, 2021, Strategic
announced starting a joint hydrometallurgical testing program on
titanomagnetite concentrate from Mustavaara. A sulphuric acid-based
method of extracting vanadium, iron, and titanium was tested.
Although the process was successful in recovering all three metals
in varying quantities, the vanadium recoveries and the sulphuric
acid consumption on the initial test work would not allow the
process to be commercially viable in Finland. Further test work and refinement may
change these results; however, no additional test work is currently
planned.
About Strategic Resources
Strategic Resources Inc. (TSXV:SR) is a Vancouver, Canada-based mineral exploration
and development company focused on vanadium projects in
Finland. The Company is primarily
focused on its flagship Mustavaara vanadium-iron-titanium project
in Finland. The Company continues
to evaluate new opportunities that are related to the
electrification of the economy.
Further details are available on the Company's website
at https://strategic-res.com/.
To follow future news releases, please sign up
at https://strategic-res.com/contact/.
STRATEGIC RESOURCES INC.
Signed: "Scott Hicks"
Scott Hicks,
CEO
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 news release.
Cautionary Note Regarding Forward-Looking
Information
Certain statements and information herein, including all
statements that are not historical facts, contain forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or
information include but are not limited to statements or
information with respect to extending existing environmental
permits and applying for exploration licenses for the Mustavaara
concessions. Often, but not always, forward-looking statements or
information can be identified by the use of words such as "will" or
"projected" or variations of those words or statements that certain
actions, events or results "will", "could", "are proposed to", "are
planned to", "are expected to" or "are anticipated to" be taken,
occur or be achieved.
With respect to forward-looking statements and information
contained herein, the Company has made numerous assumptions
including among other things, assumptions about general business
and economic conditions, the prices of vanadium and pig iron, and
anticipated costs and expenditures. The foregoing list of
assumptions is not exhaustive.
Although management of the Company believes that the
assumptions made and the expectations represented by such
statements or information are reasonable, there can be no assurance
that a forward-looking statement or information herein will prove
to be accurate. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause the
Company's actual results, performance or achievements, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements or information. These factors include,
but are not limited to: risks associated with the business of the
Company; business and economic conditions in the mining industry
generally; the supply and demand for labour and other project
inputs; changes in commodity prices; changes in interest and
currency exchange rates; risks relating to inaccurate geological
and engineering assumptions (including with respect to the tonnage,
grade and recoverability of reserves and resources); risks relating
to unanticipated operational difficulties (including failure of
equipment or processes to operate in accordance with specifications
or expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters); risks relating to adverse weather conditions; political
risk and social unrest; changes in general economic conditions or
conditions in the financial markets; and other risk factors as
detailed from time to time in the Company's continuous disclosure
documents filed with Canadian securities administrators. The
Company does not undertake to update any forward-looking
information, except in accordance with applicable securities
laws.
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SOURCE Strategic Resources Inc.