(TheNewswire)
Brossard, Quebec / TheNewswire / October 30th, 2017 - Nippon Dragon Resources Inc. ("Nippon" or "NDR") (TSX-V Symbol: NIP), is pleased to announce that it has renewed its agreement pertaining to the usage of thermal fragmentation for the next 3 years with Maxem Equipment PTY Limited (Maxem) for South Africa and neighboring countries.
The new agreement includes a monthly royalty fee plus a monthly rental fee per burner head (lance) employed. This new method of compensation will facilitate the general administration of the agreement.
The company hopes that Maxem will employ several lances in the future. Maxem's client for the past two years continues to use the lance that it operates in one of their operations. Taking into account the geological context found in South Africa and elsewhere, thermal fragmentation seems to be one of the solutions to extract precious metals economically and safely.
Thermal fragmentation is a tool that allows companies to control dilution during blasting by quickly and cheaply boring openings and extracting mineralized corridors previously identified by the geologists. The entire mining industry should benefit from this innovation.
About Nippon
Nippon is active in the exploration and the development of gold resources in Quebec. The Corporation holds a gold property with resources recognised in accordance with NI43-101 and also an exclusive license for the Thermal Fragmentation mining method.
The company's growth strategy is based on:
- The development of its gold deposits with the objective of producing revenue from its operations;
- Increasing the value of its mining assets by prioritizing the exploration targets; and
- The commercialisation and employment of its thermal fragmentation technology.
For additional information:
John Stella, Investor relations(514) 718-7976jstella@nippondragon.com
Donald Brisebois, President & CEO (450) 510-4442 dbrisebois@nippondragon.com
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. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration and production activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Ressources Nippon Dragon Resources Inc. 7055 Taschereau Blvd., suite 500, Brossard (Quebec) J4Z 1A7
Tel: (450) 510-4442 www.nippondragon.com
Copyright (c) 2017 TheNewswire - All rights reserved.