VANCOUVER, British Columbia, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”) is pleased to report that SGS Canada Inc. (“SGS”) has reported on preliminary metallurgical testing on a channel sample from SILVER FOX for recovery of a zirconium mineral concentrate. SILVER FOX is the fourth major mineralized zone in the Port Hope Simpson – St. Lewis Critical Rare Earth Element (“CREE”) District and is enriched in zirconium content in comparison to FOXTROT and DEEP FOX Resources (see Search Minerals new release October 22, 2020).
HIGHLIGHTS – ZIRCONIUM RECOVERY TESTING
Product | Mass, % | Analysis, % | Distribution, % | ||||
ZrO2 | SiO2 | Fe2O3 | ZrO2 | SiO2 | Fe2O3 | ||
LIMS Mag Conc. | 8.7 | 1.09 | 10.9 | 87.4 | 2.2 | 1.3 | 73.7 |
WHIMS Mag Conc. | 8.3 | 4.82 | 42.4 | 22.0 | 9.4 | 4.7 | 17.8 |
Float Rougher Conc. | 14.4 | 22.2 | 62.1 | 2.26 | 74.6 | 12.1 | 3.2 |
Float 4th Clean Conc. | 3.1 | 43.0 | 36.4 | 1.14 | 31.3 | 1.5 | 0.3 |
Head (direct) | 4.26 | 73.0 | 9.80 |
Greg Andrews, President/CEO states, “This test work demonstrates the potential to produce a zirconium/hafnium concentrate from the Silver Fox deposit. Furthermore, the use of WHIMS to recover a REE concentrate represents a potential breakthrough in processing. The treatment of a REE concentrate would dramatically reduce the size of a Direct Extraction plant for REE recovery. Similarly, the use of acids and bases and other reagents would be significantly reduced. Search Minerals will follow up on these results and test the processing method for application at Foxtrot, Deep Fox and Fox Meadow mineralization. Search Minerals appreciates and thanks ACOA and InnovateNL for their continued support received to undertake this study.”
Qualified Person:
Dr. David Dreisinger, Ph.D., P.Eng, is the Company's Vice President, Metallurgy, and Qualified Person (as defined by National Instrument 43-101) who has supervised the preparation of and approved the technical information reported herein. The company will endeavour to meet high standards of integrity, transparency, and consistency in reporting technical content, including geological and assay (e.g., REE) data.
About Search Minerals Inc.
Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson – St. Lewis CREE District of South East Labrador. The Company controls a belt 63 km long and 2 km wide and is road accessible, on tidewater, and located within 3 local communities. Search has completed a preliminary economic assessment report for FOXTROT, and a resource estimate for DEEP FOX. Search is also working on three exploration prospects along the belt which include: FOX MEADOW, SILVER FOX and AWESOME FOX.
Search has continued to optimize our patented Direct Extraction Process technology with the generous support from the Department of Tourism, Culture, Industry and Innovation, Government of Newfoundland and Labrador,(“InnovateNL”) and from the Atlantic Canada Opportunity Agency (“ACOA”). We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.
For further information, please contact:
Greg Andrews
President and CEO
Tel: 604-998-3432
E-mail: info@searchminerals.ca
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Cautionary Statement Regarding “Forward-Looking” Statements:
This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.
Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, future technical results from the Company’s recent Company’s drilling program and closing of the metallurgical testing. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the risk that the Company is not able to find suitable investors for the Offering or does not receive the approval of TSX Venture Exchange. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.