MONTREAL, Sept. 15, 2021 (GLOBE NEWSWIRE) -- TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) is pleased announce that it has qualified to trade on the OTCQB® Venture Market. TomaGold upgraded to OTCQB® Venture Market from the Pink® market and began trading today on the OTCQB under the symbol TOGOF and will remain listed on the TSX Venture Exchange under the symbol LOT.
“Trading on the OTCQB will enhance our visibility and make the Corporation accessible to a much broader range of U.S. investors,” said David Grondin, President and CEO of TomaGold. “We also expect that it will increase liquidity by providing current and potential investors with a transparent and easily accessible trading platform, where they can find real-time quotes and market information.”
The OTCQB Venture Market is the premier marketplace for companies that are committed to providing a high-quality trading and information experience for their U.S. investors. Qualifying for approval to trade on the OTCQB requires a company to be current on disclosure obligations and to provide an annual company verification and management certification process. The OTCQB quality standards create a solid baseline of transparency as well as the technology to improve the information and trading experience for investors.
TomaGold Corporation is a Canadian mineral exploration corporation engaged in the acquisition, assessment, exploration and development of gold mineral properties. TomaGold has interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Lac Doda. It also participates in a joint venture with Evolution Mining Ltd. and New Gold Inc., through which it holds a 24.5% interest in the Baird property, near the Red Lake mining camp in Ontario.
President and Chief Executive Officer
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. Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Corporation’s control. Readers are cautioned that such statements are not guarantees of future performance and that actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.
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Golden Dawn Announces Mr. Beat Frei As VP Finance and Business Development
VANCOUVER, BC / ACCESSWIRE / September 27, 2021 / Golden Dawn Minerals Inc., (TSXV:GOM)(FRA:3G8C)(OTC PINK:GDMRF), ("Golden Dawn" or the "Company"), Is…
VANCOUVER, BC / ACCESSWIRE / September 27, 2021 / Golden Dawn Minerals Inc., (TSXV:GOM)(FRA:3G8C)(OTC PINK:GDMRF), ("Golden Dawn" or the "Company"), Is pleased to announce the appointment of Mr. Beat Frei to the position Vice President of Finance and Business development.
"As Golden Dawn works towards its future as a Junior Gold Producer in southern British Columbia, the appropriate restructuring of the Company has required a broad range of skill-sets to clear the waters towards a successful outcome. The team at Golden Dawn has developed a good working relationship with Mr. Frei and we are very confident that the skill-sets he brings to the table will continue to strengthen our business relationships and ensure the Company reaches a positive outcome for all its shareholders and creditors." States: Mr. Christopher R Anderson CEO
Mr. Beat Frei previously held the position of VP Finance and Business Development with Champion Iron Ltd and was part a key member of the team to acquire the Bloom Lake Mine.
He spent over 20 years as a Director with Credit Suisse, holding various positions in Domestic and International Finance, Export Financing and Structured / Project Finance including Head of Export Finance and Representative for countries in the Middle East and the FSU.
In 2000, he founded Comfortra, a financial advisor to the commodities sector, which has consulted with companies in Europe, Middle East and CIS on structured trades and project financing. Comfortra helped its clients raise ~US$ 2 billion of capital (both debt and equity) across various projects.
The Company is also pleased to announce that it has arranged a non-brokered private placement of 935,453 units at a price of $0.2138 per unit for gross proceeds of $200,000. Each Unit consists of one common share and one transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase, for a period of 36 months from the date of issue, one additional common share of the Issuer at an exercise price of $0. 3563 per share.
A finder's fee may be paid to eligible finders in accordance with TSX Venture Exchange policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offerings and payment of finders' fees are both subject to approval by the TSX-V. Directors, officers or other insiders of the company may participate in the foregoing offerings.
The net proceeds from the Offering will primarily be used by the Company for continued exploration and maintenance of its Lexington project and other BC mineral exploration projects, as well as for general working capital purposes.
On behalf of the Board of GOLDEN DAWN MINERALS INC.
Per: "Christopher R. Anderson"
Christopher R. Anderson
Chief Executive Officer
Forward-Looking Statement Cautions:
This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, preliminary plans for a consolidation of the Company's Shares. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange will not approve the proposed share consolidation, and that the Company may not be able to raise sufficient additional capital to continue its business. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company's securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
SOURCE: Golden Dawn Minerals Inc.
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Core Assets Confirms New Discovery at the Blue Property Atlin, British Columbia
VANCOUVER, BC / ACCESSWIRE / September 27, 2021 / Core Assets Corp., ("Core Assets" or the "Company") (CSE:CC)(Frankfurt:5RJ)(WKN:A2QCCU)(OTCQB:CCOOF)…
VANCOUVER, BC / ACCESSWIRE / September 27, 2021 / Core Assets Corp., ("Core Assets" or the "Company") (CSE:CC)(Frankfurt:5RJ)(WKN:A2QCCU)(OTCQB:CCOOF) is pleased to announce that it has received geochemical confirmation that its phase 1 sampling program (the "program") identified multiple new zones of intense carbonate replacement sulphide mineralization and a extensive Zinc-Lead-Silver rich manto at the Blue Property (the "Property") located in the Atlin Mining District of British Columbia.
- The phase 1 sampling program was designed to determine the extent of visually interpreted massive sulphide carbonate replacement mineralization seen at surface.
- The program consisted of the collection of 247 grab samples.
- 91 samples returned assay values from 0.20% to 9.92% Cu, with 10 samples returning >1.04% Cu.
- 58 samples returned assay values from 110 g/t to 2,020 g/t Ag with 17 samples returning >417 g/t Ag.
- 115 samples returned assay values from 1.04% to >30% Zn, with 41 of those samples returning >10.15% Zn.
- 53 samples returned assay values from 1.01% to >20% Pb with 33 samples returning >5.59% Pb.
- 9 samples returned assay values from 1.03 to 6.75 g/t Au.
- Select assays from 43 samples are provided in Table 1 below, full results and supplementary information can be found on the company website at the following link: https://coreassetscorp.com/site/assets/files/5681/all_assays.pdf
- A channel sampling program has been conducted to further determine mineralization dimensions and concentrations at surface.
- Confirmation and extension of the historically identified Jackie Showing carbonate replacement mineralization with 57 outcrop samples collected returning average values of 0.26% Cu, 170.4 g/t Ag, 3.96% Pb and 5.02% Zn. One sample assayed 2.0% Cu, 1,090 g/t Ag, 5.73% Zn and >20% Pb.
- Discovery of three new heavily mineralized zones 2 to 2.5km northwest of the Jackie Showing:
- Grizzly Showing: Two sub-parallel Zn-Pb-Ag-Cu rich interpreted carbonate replacement manto zones were discovered and sampled over a strike length of 500m, withwidths up to 5m. Assay values from 44 samples returned averages of 8.2% Zn, 1.8% Pb, 0.40% Cu and 110 g/t Ag. Mineralization remains open in both directions along strike and at depth (see annotated photo 3 below).
- Sulphide City Showing: Zn-Cu mineralization with multiple semi-massive to massive sulphide exposures containing significant sphalerite, pyrite, pyrrhotite and chalcopyrite. Assay values from 44 samples returned average values of 0.29% Cu, 3.03% Zn and 14.97 g/t Ag.
- Amp Showing: Carbonate replacement semi massive to massive sulphide mineralization and numerous float samples with 20 samples collected returning averages of 218 g/t Ag, 4.1% Pb, 3.8% Zn and 0.63 g/t Au.
- Discovery of massive sulphide mineralization in outcrop during reconnaissance prospecting on western side of Willison Glacier significantly expanding mineralization extent at the Blue Property. Core Assets has now confirmed a mineralized and altered area of approximately 6.6km by 1.8km with alteration assemblages indicating this is formed from a porphyry source.
- Core Assets has mobilized a drone imagery team to provide high resolution imagery of the newly defined area.
- VTEM and Phase 2 channel sampling program results are expected to be released by late 2021.
- A Video News Release of today's announcement from Core Assets Corp. may be viewed here: https://youtu.be/EP6WNwawnsk
Core Assets' President and CEO Nick Rodway comments, "The abundance of newly discovered mineralized showings at the Blue Property is beyond exciting. We staked the Blue Property because it is one of few underexplored areas within the Stikine Terrane and has the geological characteristics to potentially produce a world class discovery. Our work during the 2021 field season has identified significant manto, CRD and skarn type mineralization within a large alteration footprint that exceeded our initial expectations. We are excited to continue to gather more information over the winter and continue to pave our road to discovery."
The historically sampled Ag-Pb-Zn-Cu Jackie showing was revisited by Core Assets and mineralization was confirmed at surface over a 400m x 450m area with mineralization open in all directions. Multiple new carbonate replacement massive sulphide occurrences were located and sampled in addition to verification sampling of mineralization noted by Carmac Resources in 1990. A total of 57 outcrop samples were collected from the Jackie Showing and select assay results are displayed in Table 1.
The Grizzly Showing was discovered by Core Assets during the 2021 Phase 1 exploration program. The showing consists of two subparallel zones interpreted to be surface expressions of carbonate replacement mantos. Mineralization was sampled at surface from the westernmost exposure for a total of approximately 500m along strike, with widths up to 5m and open under heavy scree. The eastern zone was tracked for approximately 150m. Mineralization within each zone remains open in both directions along strike. A total of 43 outcrop samples and 1 float sample were collected at the Grizzly Showing. Select assay results are displayed in Table 1 below and an annotated photo of the area can also be found in Photo 3 below.
Sulphide City Showing
The Sulphide City showing was discovered during Core Assets Phase 1 exploration program. Multiple Zn-Cu-Fe rich massive sulphide exposures were identified within the showing with the largest mineralized outcrop measuring ~16m in length with widths up to 4.5m. The showing displays characteristics of both carbonate replacement and skarn mineralization at multiple locations and is proximal to a granodiorite intrusive body. A total of 43 outcrop samples and 1 float sample was collected from Sulphide City with select assay results displayed in Table 1.
Semi massive to massive sulphide carbonate replacement mineralization at the Amp Showing was identified within several outcrops <1m in size and multiple bleeder veins. Additionally several highly mineralized float samples were collected in the area. A total of 12 outcrop and 8 float samples were collected and select assays are displayed in Table 1.
Property Wide Sampling
Results for property wide reconnaissance sampling executed by Core Assets during Phase 1 of its exploration program revealed the district scale potential of the Blue Property. Strong mineralization was identified in numerous locations across the Property and Core Assets has now confirmed carbonate replacement mineralization at surface over an area 6.6km x 1.8km. A total of 71 outcrop and 11 float samples were collected as part of the Property wide reconnaissance sampling and select assay results are displayed in Table 1. These results prompted the recent staking expansion of the Blue Property.
Photo 1 (left): Carbonate replacement mineralization at Grizzly Showing. Sample 152186 returned assays of 127 g/t Ag, 0.59% Cu and 27.10% Zn. Photo 2 (right): Sample 152094 Massive sulphide outcrop exposure at the Sulphide City Showing which returned assay value of 11.90% Zn and 0.13% Cu
Photo 3: Carbonate replacement mineralization at the Grizzly Showing Manto. Mineralization was sampled at surface from the westernmost exposure for a total of approximately 500m along strike, with widths up to 5m and open under heavy scree. The eastern zone was tracked for approximately 150m to snow cover.
Figure 1: 2021 Phase 1 sample locations displaying Cu results
Figure 2: 2021 Phase 1 sample locations displaying Ag results
Table 1: Select Assay Results from Phase 1 Exploration Program (see link to full results here)
About the 2021 Phase 1 Field Program
The helicopter supported ground program was executed during the last two weeks of July, 2021. A crew of four geologists were based in Atlin, BC and utilized Discovery Helicopters for daily access to the Property. The program focused on verification sampling of historically documented mineralization at the Silver Lime Prospect as well as reconnaissance prospecting of the Company's newly staked ground to the west of the prospect (see Company news release dated June 11, 2021).
A total of 247 grab samples (see select samples in Table 1) were collected from the Property over the duration of the program. The historically mapped and sampled massive sulphide carbonate replacement occurrences were located and resampled at the Silver Lime Prospect. Multiple days were also spent traversing locations to the north and west of the Silver Lime Prospect in an attempt to locate additional massive sulphide carbonate replacement mineralization. Based on the carbonate replacement-porphyry model, mineralization should be continuous and zoned from a central porphyry source. Therefore, crews focused on extending mineralization of the carbonate replacement occurrences at the Silver Lime Prospect and searching for typical porphyry style alterations.
QA/QC and Sample Preparation
All rock samples were collected in the field using a hammer and chisel. Locations were obtained using a GPS and samples were placed in pre-labelled sample bags. Metal tags with the sample numbers scribed into them and flagging tape were left at each sample location. Samples were stored in 5-gallon pails in a secure location until ready for shipment. Quartz blanks were inserted approximately every 25 samples as part of QA/QC procedures. All rock samples and quartz blanks were shipped by ground to ALS Geochemistry in Whitehorse, YT for multielement analysis (including Ag) by four-acid digestion with ICP-AES instrumentation (package ME-ICP61) and Au, Pd, Pt by fire assay (package PGM-ICP27). Any overlimits for Ag, Cu, Pb and Zn will be analyzed using the applicable assay package ME-OG62. Ag values reporting >1000 ppm after additional analysis will be resubmitted for gravimetric fire assay (package Ag-GRA21). No certified reference materials were submitted for analysis with the Company relying on the laboratories internal QA/QC in this regard.
About the Blue Property
The Blue Property consists of two main historical mineral prospects (‘Laverdiere' and ‘Silver Lime') in a total contiguous land package of approximately 108,337 ha (~1,083 km²). The project is located 48 km southwest of the town of Atlin, British Columbia. In 2018, the Company sent a geological team to the Blue Property for preliminary surface sampling. Three areas of skarn exposure with massive and disseminated sulphide were observed along the western side of the Llewellyn Fault Zone, known as the Laverdiere Prospect. A total of 28 grab samples were collected and sent for analysis with values of up to 8.46% copper, 1.57 g/t gold and 46.5 g/t silver reported.
The Silver Lime Prospect is located just 10 km southwest of the Laverdiere Prospect, and encompasses two significant historical mineral occurrences, the Falcon and Jackie Showings. The Falcon Showing was discovered by Carmac Resources in 1990 and consists of several northwest trending limestone beds and the Jackie showing consists of a series of altered quartz veins. Mineralization often consists of galena, sphalerite, pyrite, chalcopyrite, arsenopyrite and stibnite. The system is exposed in multiple areas on the property with one more significant outcrop that is visible for 25 metres with strike extensions covered by talus. Individual mineralization can be seen up to 2.2 metres wide. To the northwest, a quartz-feldspar porphyry breccia contains smaller quartz veins with semi-massive arsenopyrite and stibnite. Sample 88339 taken from a 2.20 metre vein system assayed 3.3 g/t gold, 2,641 g/t silver, 0.15% copper, 2.5% lead and 3.32% zinc, 5.0% arsenic and 2.56% antimony (ARIS 21162*).
In 2018, Core Assets Corp., as part of a helicopter reconnaissance program, prospected the Silver Lime Prospect and collected 8 samples. The results confirmed the historic work of Carmac (1990), having returned values of 1.16 g/t gold, 913 g/t silver, 12.45% zinc and >20.0% lead.
The Silver Lime Prospect has the potential to represent a carbonate replacement deposit model (CRD). Massive sulphide mineralization occurs in limestone and biotite-muscovite-sericite schists near the contacts between the units. Large zones of limonite alteration, cut by alaskite and hornblende porphyry dikes, surround these occurrences. The lenses appear to be widest near the porphyry dikes. Several faults follow the general direction of the dikes, suggesting structural control on the mineralization. Sulphides at the Jackie Showing often comprise galena, sphalerite, chalcopyrite, pyrrhotite and pyrite. The mineralization can be up to 30 metres long and 6 metres wide. The smaller occurrences host sphalerite and galena mineralization and the larger occurrences vary mineralogically along length. Galena, quartz and calcite dominate the northwest changing to pyrrhotite, chalcopyrite and pyrite in the centre and border areas (Minfile 104M 031*).
The 2021 prospecting and sampling programs have focused on resampling the Silver Lime Prospect and evaluating the newly staked ground by Core Assets Corp. to the west of the prospect to better understand how the mineralization is zoned with regards to the source. (see news release dated June 11, 2021).
National Instrument 43-101 Disclosure
Nicholas Rodway, P.Geo, (Licence #46541) is President, CEO and Director of the Company, and qualified person as defined by National Instrument 43-101. Mr. Rodway supervised the preparation of the technical information in this news release.
*Historical technical numbers are not compliant with NI 43-101 and are provided as an indication that mineralization is present. Historical information is relied on by the Company only as encouraging further exploration and assessment of the properties. All references listed under Minfile and ARIS can be found at the following British Columbia database links:
Announcement of Presentation
Core Assets is pleased to announce that President & CEO Nick Rodway, P.Geo will be participating in an exclusive Zoom with Zimtu investor presentation on Wednesday October 6th, 2021 starting at 10:00 am PDT (Vancouver) / 1:00 PM EDT (Toronto) / 7:00 PM CEST (Frankfurt). To RSVP and secure your place visit https://event.zimtu.com
About Core Assets Corp.
Core Assets Corp. is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in British Columbia., Canada. The company currently holds 100% title ownership in the Blue Property, that covers a land area of ~108,337 Ha (~1,083 km²). The project lies within the Atlin Mining District, a well-known gold mining camp. The Property hosts a major structural feature known as The Llewellyn Fault Zone ("LFZ"). This structure is approximately 140km in length and runs from the Yukon border down through the property to the Alaskan Panhandle Juneau Ice Sheet in the United States. Core Assets believes that the south Atlin Lake area and the LFZ has been neglected since the last major exploration campaigns in the 1980's. The LFZ plays an important role in mineralization of near surface metal occurrences across the property. The past 50 years have seen substantial advancements in the understanding of porphyry, skarn, and carbonate replacement type deposits both globally and in BC's Golden Triangle. The company has leveraged this information at the Blue Property to tailor an already proven exploration model and believes this could facilitate a major discovery. Core Assets is excited to become one of Atlin Mining District's premier explorers where its team believes there are substantial opportunities for new discoveries and development in the area.
On Behalf of the Board of Directors
CORE ASSETS CORP.
President & CEO
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward looking statements in this news release include its goals and scope; that the limestone bodies in the area are favourable for allowing transportation of mineralized carbonate replacement fluids; that the Atlin property is prospective for Iron-Zinc-Lead-and Silver ; that we can become a district scale explorer; that Core Assets will drill in 2022; that the Blue Property has substantial opportunities for a discovery and development; that work on the Blue Property could potentially lead to a new porphyry/CRD style discovery; and that there may be a commercially viable gold or other mineral deposit on our claims. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that further permits may not be granted timely or at all; the mineral claims may prove to be unworthy of further expenditure; there may not be an economic mineral resource; methods we thought would be effective may not prove to be in practice or on our claims; economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices; our specific plans and timing drilling, field work and other plans may change; we may not have access to or be able to develop any minerals because of cost factors, type of terrain, or availability of equipment and technology; and we may also not raise sufficient funds to carry out our plans. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward looking statement risk factors.
SOURCE: Core Assets Corp.
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Gratomic Proudly Announces Aukam Processing Plant Transition into Wet Commissioning
TORONTO, ON / ACCESSWIRE / September 27, 2021 / Gratomic Inc. ("Gratomic", "GRAT" or the "Company") (TSXV:GRAT)(OTCQX:CBULF)(Frankfurt:CB82) announces…
TORONTO, ON / ACCESSWIRE / September 27, 2021 / Gratomic Inc. ("Gratomic", "GRAT" or the "Company") (TSXV:GRAT)(OTCQX:CBULF)(Frankfurt:CB82) announces the commencement of wet commissioning (Stage C4), The Company has started running material through the crushing circuit in preparation of full commissioning of its Aukam processing plant. The entire Gratomic Executive team was present for this significant milestone and witnessed the equipment operating as it was engineered to perform.
The following is the detailed explanation of the C4 wet commissioning phase:
- Check site-wide systems are fully operational
- Confirm operator technicians trained and able to run commissioning
- Check as-built document complete
- Confirm Operations and Maintenance manuals available in draft form
"Our team at Aukam continues to excel," said Arno Brand, CEO & President, "The progress on the project advances at an exceptional rate and the Gratomic team has easily surmounted any potential obstacles that have arisen at the project over the previous months."
Assembly continues on the material thickener tank, see HERE for corresponding press release dated September 7th, 2021. The unit is currently going through its final assembly. Additionally, the Company has reduced its water cost by 50% through collaboration with local communities in the immediate Aukam area and water demand on site is currently fully met by supply. Upon completion, the plant will sustain over 1,000,000 liters of water storage. Included in this total is water storage, process water, and water recycling (as indicated in its press release dated November 9, 2020, Gratomic will recycle approximately 95% of the water in the system). See HERE to view the press release. This is sufficient storage to sustain operations once the plant is fully commissioned.
The plumbing, electrical and air compressor circuits for the three mixing tanks and vertical columns are currently under assembly. Once these components are installed, water will be introduced into these units for testing and calibration. The product thickener tank, which was assembled in April of 2021, will be filled to a 70% capacity in preparation for the next stage. The completion of the material thickener tank, the delivery of the twelve additional mixing tanks and nine additional flotation columns (see press release dated September 7th, 2021), will bring the flotation circuit into the final stage of C4 wet commissioning.
Final assembly of the plumbing and electrical circuits to the press filter are in the final connection phase. Conveyor B has been installed, with the catwalks and stairways completed. The custom-built material chipper and hopper has been completed and mounted above the rotary drier, which was installed and assembled in April of this year.
The crushing circuit has moved into the wet commissioning phase. From here, the circuit will undergo comprehensive calibration on all systems and will be fitted with custom enclosures to secure the preservation of graphite fines throughout the crushing process. The calibration phase is an extremely important step in the commissioning process, it requires ample time and attention to be carried out effectively to ensure optimal future performance of the cycle.
"The Gratomic team has been working very hard during the construction phases and is proud to have reached wet commissioning. This brings the Company into the forefront of the final transition from a junior exploration company into a development company," says Armando Farhate, COO & Head of Graphite Marketing and Sales.
Click HERE for video footage of wet commissioning.
Gratomic wishes to emphasize that no Preliminary Economic Analysis, Preliminary Feasibility Study or Feasibility Study has been completed to support any level of production. In fact, no mineral resources let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam property.
The Company is working towards completing a Preliminary Feasibility Study (PFS) on the Aukam Processing plant. The study, its recommendations, and their subsequent implementation, will provide conclusions and recommendation at a PFS level of comfort relating to the scale up of the existing processing plant to a commercial scale processing facility capable of producing the desired concentrate grades and production rates.
Gratomic wishes to emphasize that the supply of graphite is conditional on Gratomic being able to bring the Aukam project into a production phase, and for any graphite being produced to meet certain technical and mineralization requirements. Gratomic continues to move its business towards production and as part of its business plan, expects to file a National Instrument 43-101 Standards of Disclosure for Mineral Projects resource estimate in Q1 2022.
No mineral resources, let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam Property. The Company is not in a position to demonstrate or disclose any capital and/or operating costs that may be associated with the processing plant until the PFS is completed.
The Company advises that it has not based its production decision on even the existence of mineral resources let alone on a PFS or feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit.
Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved.
Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations. Failure to achieve the anticipated production costs would have a material adverse impact on the Company's cash flow and future profitability.
Steve Gray, P. Geo. has reviewed and approved the scientific and technical information in this press release and is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Gratomic is focused on introducing an exceptional anode material to the global electric vehicle and energy storage supply chains. True to its roots as an exploration and mining company, Gratomic aims to achieve full operational capabilities in 2021 on its Aukam Graphite Project and continues to diversify its assets into a multi-national company with various projects globally. Large quantities of its naturally high-quality vein graphite have been shipped for testing to confirm its viability as an anode material. Gratomic is confident that the results will provide a unique competitive advantage in its desired target markets.
The Company's recent collaboration agreement with Forge Nano has advanced the developments on its graphite finalization phase for the micronization, spheronization, and the patented ALD coating of its Aukam vein graphite for use in lithium-ion batteries. Forge Nano is a global leader in surface engineering and precision nano-coating technology, using Atomic Layer Deposition.
GRAT has two outstanding off-take purchase agreements with TODAQ and Phu Sumika with contract fulfillment slated to begin in 2021. Gratomic plans to deliver mine-to-market traceability through its partnership with deeptech company TODAQ by providing documented tracking on all graphite generated at its flagship Aukam Graphite Project.
For more information: visit the website at www.gratomic.ca or contact:
Arno Brand at email@example.com or 416 561- 4095
Subscribe at gratomic.ca/contact/ to be added to our email list.
"Neither 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."
Forward Looking Statements:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
SOURCE: Gratomic Inc.
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