Tickers: PINX:MLYFF, XTSX:NVM
VANCOUVER, BRITISH COLUMBIA / TheNewswire / November 06, 2017 - Nevada Clean Magnesium, Inc. (TSXV:NVM; Frankfurt-M1V; OTCQB:MLYFF) (the "Company") ") is pleased to announce preliminary "proof of concept" in the production of magnesium metal from its bench scale pilot furnace located in Northern British Columbia.
The metal is a result from a partial test charge being conducted in order to identify any operational deficiencies prior to a full charge of dolime material. The charge contains dolomite from the Company's Tami Mosi deposit located east of Ely, Nevada and ferro silicon the identified base case reductant material contained in the NI 43-101.
(For photos showing an example of the recovered metal, visit www.nevadacmi.com )
The testing has provided "proof of concept" and enables the technical team a clear path to fine tuning the process in order to achieve better efficiencies and cycle times.
Test samples have been submitted for analysis including the residue for specifications for the potential use as saleable co-products. All residue samples generated in this test are being supplied to an interested international cement company for further testing and data analysis. These residue tests and analysis should be available back to the company early in the New Year.
The next test is scheduled to begin mid- next week. It will utilize the alternate reductant and a full charge of Tami Mosi dolomite. All of this work is based upon earlier reductant testing performed by Big Blue Technology LLC of Golden Colorado using ferro silicon and the alternate reductant.
James Sever, COO states"It was very gratifying to have the pilot furnace operate so effectively on its initial reduction test. Not only did we produce metallic magnesium, we confirmed that the reactor concept meets the target for energy reduction. This should reduce both the cost of production and the carbon footprint of the operation. The rate of reaction brought about by efficient heat transfer to the charge was surprisingly fast indicating the potential for continuous production rather than cyclic batches. We have a great deal of work to do but the initial work substantiates our belief in this project."
Ed Lee, President and CEOstates "This step has been highly anticipated and is a significant milestone for the Tami Mosi project. The project continues to meet the design criteria laid out at the beginning of the PEA back in 2011 which was to design a project that has the opportunities and realistic potentials to have near zero emissions and waste while providing a source of magnesium metal produced within the United States that is competitive with the rest of the world ."
About Nevada Clean Magnesium, Inc.
Nevada Clean Magnesium is focused on becoming a major U.S. producer and distributor of primary, high grade, low cost magnesium metal extracted from its 100% owned Tami-Mosi property located in North Central Nevada. Based on the Company's NI 43-101 Preliminary Economic Assessment Report published in September 2011 and amended in July 2014, the Tami-Mosi Project has an inferred resource of 412 million tonnes with an average grade of 12.3% Mg for a contained metal content of 111 billion pounds of magnesium using a 12% cut-off grade contained within a high purity dolomite block. For more information, please visit www.nevadacmi.com.
This press release was prepared under the supervision and review of James Sever, P. Eng., and COO for Nevada Clean Magnesium. Mr. Sever is a non-independent qualified person within the meaning of National Instrument 43-101 standards.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements in this news release include that we produced magnesium metal and implies that we can become a major U.S. producer and distributor of primary, high grade, low cost magnesium metal. Actual results may differ materially from those currently anticipated due to a number of factors, including the Company's dolomite reserves may not be mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic, we may not be able hire and retain skilled employees, and other risks associated with being mineral exploration, furnace or company development. We may not be able to close with interested investors on our intended private placement because of perceived risks or market conditions. The Company undertakes no obligation to update forward-looking information except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this news release.
To Reach Nevada Clean Magnesium Please Contact:
Edward Lee, CEO at (604) 210-9862
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