APATITE (PHOSPHATE) ADDED TO THE QUEBEC CRITICAL AND STRATEGIC MINERALS LIST
-announcement will put Arianne Phosphate's Lac à Paul project in focus
DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTCQX (USA)
SAGUENAY, QC, Jan. 24, 2024 /CNW/ - Arianne Phosphate (the "Company" or "Arianne") (TSXV: DAN) (OTCQX: DRRSF) (FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec's Saguenay-Lac-Saint-Jean region, is pleased to announce that the Quebec Government has added apatite (phosphate) to its critical and strategic mineral list. Apatite is a phosphate based mineral and contained in the Company's Lac à Paul deposit.
In 2020, the Quebec Government launched its 5-year plan to develop critical and strategic minerals, providing support for companies involved in this sector. Yesterday, the Quebec Minister of Natural Resources and Forests, Mme Maïté Blanchette Vézina, unveiled the 2023-2025 Action Plan for the Development of the Quebec Plan for the Development of Critical and Strategic Minerals 2020-2025 ("PQVMCS"), where apatite was added to this list. Quebec now joins several other jurisdictions, including the European Union and South Korea in recognizing phosphate as a critical mineral.
Minister Blanchette Vezina added [translated] "At a time when the supply of critical and strategic minerals is becoming more and more essential, particularly for the decarbonization of the economy, Quebec has the privilege of having the mineral resources and know-how necessary to develop its value chain of critical and strategic minerals in compliance with the principles of sustainable development, social acceptability and wealth creation for regions and communities. This new version of the action plan will take us even further towards this objective."
Arianne Phosphate today hosts the world's largest independent greenfield phosphate deposit. Situated in Quebec, Canada, the Company can produce a very high-purity/low-contaminant phosphate concentrate, ideal for use in both fertilizer and technical-grade applications, including the production of purified phosphoric acid ("PPA"). PPA is the ingredient required in the production of lithium-iron-phosphate ("LFP") batteries and, as per the Arianne's announcement in March 2023 (see here), the Company has already demonstrated its ability to produce battery-grade phosphoric acid that meets battery manufacturer specifications. Arianne's Lac à Paul project is fully permitted and shovel-ready.
"We welcome the addition of phosphate to the critical and strategic minerals list," said Brian Ostroff, President of Arianne Phosphate. "Phosphate's addition underscores the importance of this key ingredient as Western countries struggle to find needed supply if they are to meet the coming demand of LFP batteries. Today, over 30% of all batteries are LFP and as demands from both the automotive industry, as well as energy storage systems continue to grow, many see a pending acute shortage of PPA. Arianne's Lac à Paul project is being developed to meet this urgent demand."
Arianne Phosphate ("Arianne Phosphate Inc.") (www.arianne-inc.com) is developing the Lac à Paul phosphate deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high-quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants (Feasibility Study released in 2013). The Company has 196,809,271 shares outstanding.
Raphael Gaudreault, eng., Qualified Person by NI 43-101, has approved this release. Mr. Gaudreault is also the Company's Chief Operating Officer.
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.
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This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities regulations in Canada and the United States (collectively, "forward-looking information"). Forward-looking information includes, but is not limited to, anticipated quality and production of the apatite concentrate at the Lac à Paul project. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects, "is expected", "budget", "scheduled", "estimates", forecasts", "intends", "anticipates", or "believes", or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved. Forward-looking information is subject to be known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: volatile stock price; risks related to changes in commodity prices; sources and cost of power facilities; the estimation of initial and sustaining capital requirements; the estimation of labour and operating costs; the general global markets and economic conditions; the risk associated with exploration, development and operations of mineral deposits; the estimation of mineral reserves and resources; the risks associated with uninsurable risks arising during the course of exploration, development and production; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support mining, processing, development and exploration activities; the risks associated with changes in the mining regulatory regime governing the Company; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at Lac à Paul project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issue of common shares; the risk of litigation. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in commodity prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approval, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
SOURCE Arianne Phosphate Inc.
View original content: http://www.newswire.ca/en/releases/archive/January2024/24/c5556.html