Alset to Establish a Collaboration Agreement with Center for Research and Advanced Studies in Saltillo, Mexico in Efforts to Pilot Plant Test Its Lithium Prospective Salars
Vancouver, British Columbia--(Newsfile Corp. - February 28, 2018) - Alset Minerals Corp. (TSXV: ION) ("Alset" or "the Company") is pleased to announce that it is in the process of signing a collaboration agreement with the Center for Research and Advanced Studies of the National Polytechnic Institute (Cinvestav), in Saltillo, the capital of Coahuila, Mexico. Cinvestav has research labs focused on various areas of expertise throughout the country, the Saltillo lab is focused on metallurgy. This collaboration will include implementing the results from the advanced leaching analysis completed by Cinvestav over the last year on samples from Alset's salars. The ultimate aim is to move toward pilot plant testing of the salar material to determine the low-cost potential of recovering lithium and other minerals from these salars. All the salars are 100% owned by Alset.
In addition, Dr. Roberto Pérez Garibay, metallurgist and head of the Cinvestav lab in Saltillo, will be joining Alset as an external advisor. Dr. Garibay is also very experienced at obtaining funding from national research and development groups in Mexico. He will be a key advisor to Alset on the recovery of lithium and other minerals from Alset's salars, and will lead the application process for the funding of a pilot plant to further test the low-cost potential of lithium recovery from Alset's salars. The next round of applications for funding are accepted in April 2018, at which time Alset will apply for up to 70% of the funding needed to construct a pilot plant. If the application is successful, 70% of these costs will be covered by the research and development fund that works with Cinvestav on many projects.
President and Chief Executive Officer Allan Barry Laboucan said: "We have completed first-pass leach testing of composite sediment samples from our salars that show with dilute acid we can recover between 79-97% of the lithium in a matter of hours. Cinvestav has completed the advanced leaching analysis that needs to be carried out prior to pilot plant testing. This work will provide key data for various water temperatures, leaching times and acid amounts which are important in understanding the low-cost potential of lithium recovery from our salars. With the help of Dr. Pérez Garibay and his team at the Cinvestav lab in Saltillo, we can complete the work required to establish these low costs. This work will be potentially transformative for the company and we are excited to move ahead. Once we have signed this collaborative agreement, we will report on the findings from the advanced leaching analysis completed by Cinvestav."
Emily Hanson, PGeo, Vice-President of exploration for Alset Minerals Corp., is the qualified person responsible for the technical content of this release.
About Alset Minerals Corp. (ION.V)
Alset Minerals is a TSX Venture Exchange-listed junior exploration company focused on exploring and development of a group of high-grade lithium and potassium projects in the Central Mexican plateau. The company, in November 2017, added nearly one million acres of lithium prospective salars, through staking. Alset has a growing portfolio of 100-per-cent-owned lithium prospective salars in the states of San Luis Potosi, Zacatecas and Coahuila in Mexico. With the November 2017, staking, the company now has more than one million acres of lithium prospective salars in mining-friendly Mexico with roads and power up to the salars.
On behalf of the Board of Directors of Alset Minerals Corp.,
"Allan Barry Laboucan"
Allan Barry Laboucan, President and CEO
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Corporate Communications
allan@alsetminerals.com
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