Plateau continues Falchani, Macusani desktop work
Plateau Energy Metals Inc. has provided an update on recent initiatives and activities.Read More
- Falchani lithium chemical project desktop work for project optimization programs in progress:
- Lithium chemical product flexibility to evaluate lithium hydroxide and lithium sulphate from lithium sulphate solution;
- Lithium process flowsheet optimization program design;
- Byproduct phase 2 program design.
- Macusani uranium project desktop work for project optimization programs in progress:
- Preconcentration work program design as follow-up to favourable Cameco results;
- Two-tonne uranium sampling program from five different deposit areas for future testwork completed.
- Community support initiatives in Peru continuing to help ensure the health, safety and well-being of host communities.
“Our team has been making concerted efforts to support our host communities in these challenging times,” stated Alex Holmes, chief executive officer. “Peru has been hit extremely hard by the global pandemic caused by COVID-19, and a focus of ours is in helping ensure our host communities can be safe and responsible in handling the pandemic.
“To our shareholders, as we navigate these times, we want to remind you of the tremendous value opportunity we have with two strategically important critical minerals projects in the green energy/technology industry. We continue to see investment down stream of raw materials in lithium-ion batteries and electric vehicles, and in nuclear energy as a stable clean-energy source. At the same time, we are also seeing future supply constraints surfacing in both battery-quality lithium chemicals in a fast-growing demand market and in uranium for fuel for nuclear-energy plants. The market dynamics, medium and long term, are unfolding in our favour, and we remain focused on derisking both projects, as they are needed in a green recovery world.”
Falchani lithium project
The company is currently concentrated on taking strategic steps and engaging in discussions with various parties to advance the technical strengths and identify areas to increase the underlying asset value of the Falchani lithium project. These steps are in preparation for future work programs, while balancing capital constraints and the current Peru environment. Some of the work being considered includes:
- Phase 2 work program in planning, following on from the results of preliminary metallurgical work in April, 2020, on potential byproducts from caesium, rubidium and potassium for sulphate of potash (SOP);
- Complete SOP (fertilizer) market study for South America, specifically Peru, as previous metallurgical testwork results demonstrated potassium sulphate is a potential byproduct of Falchani;
- Lithium flowsheet optimization focused on areas where it may be possible to reduce reagent consumables and capital costs;
- Lithium chemical product flexibility to evaluate lithium hydroxide and lithium sulphate from lithium sulphate solution. Evolving battery technology dictates the need for projects to evaluate flexibility in battery-quality lithium chemicals to be a strategic player in the battery supply chain.
Falchani is a scalable, long-mine-life, battery-quality lithium chemical project with an after-tax net present value (8 per cent) of $1.55-billion at $12,000 per tonne lithium carbonate and an after-tax internal rate of return of 19.7 per cent. The development plan at Falchani incorporates multiple responsible and green mining initiatives, with further opportunities for revenue optimization and technological advancements. The company believes this will position Plateau to capitalize on a return to improved lithium market sentiment and pricing, without impacting the development path significantly.
Macusani uranium project
The Macusani uranium project is a low-capex (capital expenditure), large-scale, development-stage uranium project containing significant measured, indicated and inferred uranium resources. Macusani is located approximately 25 kilometres away from Falchani, with an NPV (8 per cent) of $603.1-million, an IRR of 40.6 per cent and a 1.8-year payback (all after tax at a selling price of $50 per pound triuranium octoxide).
- An optimization work program evaluating preconcentration amenability has been prepared, and various options are being considered. This work program would be a follow-up to favourable historical results yielded by Cameco Corp. in 2013, which demonstrated that approximately 85 per cent of the uranium is concentrated in fine fractions representing only 50 per cent of the mass of the uranium-mineralized rhyolitic material. Preconcentration potential using conventional scrubbing technology could impact the volume and head grade of mineralized material in the preliminary economic assessment mine plan, positively impacting operating and capital cost estimates, and result in a re-evaluation of resources outside the preliminary economic assessment mine plan. Samples were collected at site in July for this future work program. The timing of initiating the work program and results of the work program will be dependent on capital allocation later in 2020. The work programs may lead to an optimized development plan, the execution of which will be dependent on the Peru government implementing the new uranium regulations (defined herein) and market conditions for uranium improving.
- The company is continuing work with the government of Peru for uranium transport and export regulations, in co-ordination with the International Atomic Energy Agency and the Peruvian Institute of Nuclear Energy. In early 2020, the Ministry of Energy and Mines (MINEM) announced that it was targeting the second half of 2020 to have this new framework submitted for approval. The company expects that, in the context of work restrictions due to COVID-19, along with personnel changes at MINEM, this could be delayed to the first half of 2021. However, a recent public announcement by the Minister of Energy and Mines continues to guide to the end of 2020.
- A targeted exploration drill program is being planned to test high-priority areas between existing deposits, something that was not previously possible due to the fractured historical ownership. Previous environmental impact assessment work is continuing, albeit at a slower pace. The exploration program is contingent on securing uranium exploration capital and the new uranium regulations being implemented.
An updated preliminary economic assessment is under consideration, pending the outcome of optimization work programs and new uranium regulations. Positive optimization work programs may result in a modified mining and processing plan.
Health and safety
The ministries of health, and energy and mines, in co-operation with regional governmental authorities, permitted the restart of larger-scale mining activities in mid-May. All mining companies are required to submit restart safety protocols for approval before being given the go-ahead to resume operations. Plateau received approval from the ministries to restart activities on July 1, 2020. The company’s decision to resume full-scale work at the site will be conditional on being able to ensure the safety of employees and the local communities, and to access supplies and equipment to maintain health and safety at the site.
Plateau has been working to support communities through the donation of hygiene and medical supplies, such as sanitizer, digital thermometers and rapid response testing kits, along with the delivery of parcels of essential food.
At the end of May, the company facilitated the delivery of supplies and equipment to partner with the Women Association of Isivilla to commence the production of reusable non-medical masks for distribution to the surrounding communities. The mask initiative is continuing. To date, over 5,000 reusable face masks have been assembled and distributed freely throughout the communities.
In mid-June, the company was able to arrange for the delivery of essential food parcels to the local communities. Over three days, the team in Peru distributed food parcels to the inhabitants in five villages. The company continues to engage and work with host communities to develop ways to support and assist them, where possible, during this global pandemic.
Peru government and regulatory
On Sept. 11, the Peruvian Congress approved a motion to commence impeachment proceedings against President Martin Vizcarra, following allegations that have yet to be substantiated. The date for the vote is expected to be Sept. 18.
Recently, three projects of proposed legislation with special emphasis on lithium were introduced in the Peruvian Congress for debate and approval. The projects vary considerably in their approach, ranging from tremendous support from the state and its institutions as well as assistance for the private sector to develop the lithium market in Peru, to strict controls imposed by the state at all levels. As far as can be ascertained, the proposed legislation highlights the strategic importance of lithium to the country, prioritizing the development of the sector, and does not seem to preclude private ownership or development.
“The submission of three different lithium legislation proposals to Congress within a week demonstrates the interest that our Falchani discovery has generated in Peru,” commented Mr. Holmes. “Lithium chemical processing and production requires certain technologies and a very specialized skill set not currently available in-country. As we advance Falchani, we are seeking to support the development of the prerequisite skill sets in-country, through education, training and partnerships, to make lithium chemical development a successful industry for the country.”
Peru has a long history of encouraging and supporting foreign private investment, both in general and particularly in the mining sector, which is, and has always been, paramount to the economic stability and continued development of the country. Considering the very tumultuous political period that Peru as a country passes through at present, the company believes that it is possible that more projects may be submitted to Congress. As a result, it will take a while before any decision may be adopted with respect to the lithium industry. The company expects that any such decision will be one that continues to encourage investment and ensure sustainable and responsible development in the country. In Peru, lithium is considered a non-metal and does not currently require any specific regulatory/permitting framework for exploration, exploitation and processing.
On Aug. 4, Peruvian Congress rejected a vote of confidence for President Vizcarra’s cabinet chief, forcing the resignation of 19 cabinet ministers, including Rafael Belaunde, the Minister of Energy and Mines, who was appointed on July 15. On Aug. 11, Luis Miguel Inchaustegui, previously the Vice-Minister of Energy and Mines, was appointed as the new Minister of Energy and Mines. On Aug. 13, Vice-Minister Augusto Cauti tendered his resignation and was replaced by economist Jaime Galvez Delgado, who, until last year, served as general director of mining promotion and sustainability of MINEM. The company has worked with both parties in their prior roles at the ministry and looks forward to working with them as the projects continue to advance.
In July, MINEM adopted new exploration regulations that will, in effect, streamline early exploration (predrilling) timelines in advancing a project to drill-ready status.
On July 24, Susana Vilca, previously the Minister of Energy and Mines, was appointed as the new president of the Institute of Geology Mining and Metallurgy (INGEMMET).
Concessions: judicial and administrative processes
In August, 2020, the judicial process for the concessions officially resumed; however, COVID-19 work stoppages and restrictions in Peru have added significant delays to court procedures, and the company has not been provided with a timeline for an expected decision for the precautionary measure on the remaining 15 concessions. Meetings with MINEM and INGEMMET have continued to advance the administrative process, but recent personnel changes within these institutions will likely lead to some delays with talks restarting with new ministers within MINEM. Updates will be provided as and when they become available.
Ted O’Connor, PGeo, a director and technical adviser of Plateau, the company’s designated qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this news release.
About Plateau Energy Metals Inc.
Plateau Energy Metals, a Canadian exploration and development company, is enabling the new energy paradigm through exploring and developing its Falchani lithium project and the Macusani uranium project in southeastern Peru, both of which are situated near significant infrastructure.
We seek Safe Harbor.
© 2020 Canjex Publishing Ltd. All rights reserved.
American Manganese Inc. to Speak on a Circular Economy for EV Batteries – Hosted by Cleantech Group
SURREY, BC / ACCESSWIRE / September 21, 2020 / American Manganese Inc. (TSXV:AMY)(OTC PINK:AMYZF)(FSE:2AM) (“AMY” or the “Company“) is pleased to speak and take part in the EV Battery Circularity Innovation Showcase, hosted by Cleantech Group. Join Zarko Meseldzija, CTO of American Manganese, for Cleantech Interactive, the fourth edition in a series of innovative online events, on September 22-23 and build a new network with investors, innovators and corporates accelerating the transition to a cleaner future. The theme is ‘The Path to Circularity’ and Mr. Meseldzija will be speaking on ‘A Circular Economy for EV Batteries’and its connection to the future of sustainability.Read More
American Manganese Inc. is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ Patented Process. The process provides high extraction of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum at high purity, with minimal processing steps. American Manganese Inc. aims to commercialize its breakthrough RecycLiCo™ Patented Process and become an industry leader in recycling cathode materials from spent lithium-ion batteries.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh,
President and Chief Executive Officer
Telephone: 778 574 4444 Email: firstname.lastname@example.org
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. This news release may contain “forward-looking statements”, which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
SOURCE: American Manganese Inc.
Defiance Silver repays Windermere loan
Defiance Silver Corp. has repaid in full the company’s outstanding loan with Windermere Capital Fund SPC (on behalf of the Navigator Segregated Portfolio). The Loan was originally announced on June 19th, 2018, and subject to several increases, with the final extension announced on December 19th, 2019. The Company has now repaid the total outstanding balance of $1,312,018 including accrued interest. The Loan was secured by the assets of the Company’s subsidiaries and the General Security Agreement will now be removed following repayment of the Loan in full.Read More
Chris Wright, Executive Chairman & CEO, commented: “We want to thank our capital partners for their support of Defiance. The loan enabled us to minimize shareholder dilution during a tough market, while the proceeds from our recently closed financing have enabled us to repay the debt and have sufficient working capital moving forward.”
About Defiance Silver Corp.
Defiance Silver Corp. (TSXV: DEF) (OTC Pink: DNCVF) (FSE: D4E) is an exploration company advancing the San Acacio Deposit, located in the historic Zacatecas Silver District and the 100% owned Tepal Gold/Copper Project in Michoacan state, Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring, advancing and developing several operating mines and advanced resource projects Defiance’s corporate mandate is to expand the San Acacio and Tepal projects to become premier Mexican silver and gold deposits.
We seek Safe Harbor.
© 2020 Canjex Publishing Ltd. All rights reserved.
Mineral Mountain increases financing to $1.28M
Due to investor demand, Mineral Mountain Resources Ltd. has increased the size of its private placement previously announced on Aug. 20, 2020. Mineral Mountain now proposes to issue up to 4,266,666 units of the Company (the “Units”) for aggregate proceeds of up to $1,280,000.Read More
Each Unit consists of one common share of the Company and one common share purchase warrant (a “Warrant”), with each warrant entitling the holder to purchase one common share of the Company (a “Warrant Share”) for a period of one (1) year from closing at an exercise price of C$0.40 per Warrant Share. All other terms are as described in the initial private placement news release.
The Company is also announcing that TSX Venture Exchange has granted the Company an extension on the closing of the private placement until September 30, 2020.
The net proceeds raised from the Private Placement are intended to be used to fund Company lease renewals in the Rochford District, a radiometric airborne survey, drill permitting, new lease acquisitions and, for corporate and general working capital purposes.
About Mineral Mountain
Mineral Mountain Resources Ltd., through its wholly owned subsidiary Mineral Mountain Resources (SD) Inc., is an exploration and development Company with a strong management and technical team which has many years of experience in the Homestake area. The parent Company, Mineral Mountain Resources Ltd., is based in Vancouver, B.C.
The Company now owns one of the largest land package in the Rochford Gold District located in the Black Hills of South Dakota, U.S.A. about 26 kilometers south of the richest and largest gold deposits in the world, the Homestake Mine gold system, which produced over 42 million ounce of gold! The Rochford District is situated within the most prospective exploration regions for gold in the United States.
Mountain Province sells $11.7-million in diamonds
Mountain Province Diamonds Inc. has released the preliminary results of its latest diamond sale in Antwerp, Belgium, which closed on Sept. 19, 2020. The latest sale represents the company’s first traditional commercial sale since February and the start of the COVID-19 pandemic. It is important to note that these results do not include the sale of any high value fancy and special stones.Read More
Total proceeds from the sale were $8.9 million (U.S.) ($11.7 million (Canadian)) from 210,661 carats at an average realized value of $42 (U.S.) per carat, indicating a 1 per cent discount to values achieved for similar diamonds at the February sale.
Despite COVID-19 restricting travel into Belgium, bidding was strong and consistent with those seen earlier in the year. The company’s next sale event is scheduled to close on Oct. 31, 2020.
Stuart Brown, the company’s president and chief executive officer, commented: “We are pleased to have finally resumed our traditional sales channels as the markets around the globe continue to gradually open for business. The results of the first small sale, post the COVID-19 pandemic are an encouraging start considering that the market has been at a standstill for nearly six months. The results of the sale were a positive sign as the markets for rough and polished diamonds start to return.”
About Mountain Province Diamonds Inc.
Mountain Province Diamonds is a 49 per cent participant with De Beers Group in the Gahcho Kue diamond mine located in Canada’s Northwest Territories. The Gahcho Kue Joint Venture property consists of several kimberlites that are actively being mined, developed and explored for future development.
Santacruz Silver arranges $6-million financing
Santacruz Silver Mining Ltd. has arranged a non-brokered private placement for up to 27,272,727 units at a purchase price of 22 cents per unit, for gross proceeds to the company of up to $6-million with a lead order from Palisades Goldcorp Ltd. for $3-million. Each Unit will consist of one common share of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one common share of the Company at a price of C$0.30 per share for a period of 36 months following the issue of the Warrant.Read More
The Company may pay a finder’s fee to arm’s-length finders in connection with the issue and sale of any or all of the securities under the Private Placement. Red Cloud Securities Inc. is acting as a finder in connection with the Private Placement.
The proceeds from the Private Placement are expected to be used by the Company to purchase underground equipment for its Zimapan property and for general working capital and corporate purposes. All securities issued will be subject to a four month hold period, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside of Canada.
Carlos Silva CEO of Santacruz stated, “We are very pleased to have Palisades as lead order on the financing as they are one of the premier precious metals financing groups in this current bull market. We look forward to progressing with them to unlock value for shareholders.”
Closing of the Private Placement is anticipated to occur in one or more tranches on or before October 9, 2020 and is subject to the receipt of applicable regulatory approvals including approval of the TSX Venture Exchange.This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The securities will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.
About Palisades Goldcorp Ltd.
Palisades Goldcorp is Canada’s new resource focused merchant bank. Palisades’ has an experienced management team with a demonstrated track record of making money and is backed by many of the industry’s most notable financiers. With junior resource equities valued at generational lows, Palisades’ management believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior returns.
About Santacruz Silver Mining Ltd.
Santacruz is a Mexican focused silver company that currently owns and operates the Rosario Project. The Company also owns 100% of Carrizal Mining S.A. de C.V. Carrizal Mining holds a 20% working interest in the Company’s Veta Grande Project and has the right to operate the Zimapan Mine until December 31, 2020 under a mining lease agreement. On July 28, 2020 the Company announced that it had reached agreement with Minera Cedros, S.A. de C.V. (“Minera Cedros”), a wholly owned subsidiary of IndustriasPenoles, S.A.B. de C.V., to acquire outright the Zimapan Mine for US$20.0 million (plus applicable IVA of US$3.2 million), subject to a number of conditions, including receipt of all necessary regulatory approvals including approval of the TSX Venture Exchange (“TSXV”) to the transaction which will constitute a “Fundamental Acquisition” pursuant to TSXV Policy 5.3.
The Company also has rights to two exploration properties, the Minillas property and Zacatecas properties as well as the Veta Grande Project where mining operations are currently suspended.
The Company is managed by a technical team of professionals with proven track records in developing, operating and discovering silver mines in Mexico. Our corporate objective is to become a mid-tier silver producer.
Eclipse Gold adds second drill rig at Hercules
Eclipse Gold Mining Corp. has mobilized a second drill rig at its Hercules gold project in Nevada’s Walker Lane trend.Read More
This second reverse circulation drill rig will accelerate the company’s phase II program, which is planned to comprise 18 holes totalling approximately 6,750 metres.
To date, the company has completed 1,517 m over five holes in phase II drilling. The drill program was designed to test for possible extensions of known mineralization and test geophysical targets. For further details of the phase II drill program, please see the company’s Aug. 18, 2020, news release.
Eclipse Gold Mining president and chief executive officer Michael G. Allen will be featured in an upcoming webinar hosted by Cory Fleck of the Korelin Economics Report and joined by special guest Brian Leni of the Junior Stock Review on Tuesday, Sept. 22 at 1:15 p.m. Pacific Time.
About Eclipse Gold Mining Corp.
Eclipse Gold Mining is exploring the district-scale Hercules gold property within Nevada’s Walker Lane trend. The Hercules property is located only a one-hour drive from Reno and appears to have all the characteristics of a large, low-sulphidation epithermal gold system. The company brings together a team with collective financing of over $2-billion in both strong and weak markets, and a record of at least nine successful buyouts/exits.