|
TORONTO, March 27, 2019 (GLOBE NEWSWIRE) — Sparton Resources Inc. (TSXV.SRI) (“Sparton” or the “Company”) is pleased to announce the test results conducted on their behalf by Central America Nickel Inc. (“CAN”) on the vanadium mineralization hosted in black shale from Jiangxi Province in China, using the CAN’s Ultrasound Assisted Extraction technology (“UAEx”). The material tested was taken from the Quankeng Stone Coal Mining License in the Xiushui area of Jiangxi, which has been under evaluation by the Company for a number of years and is currently in acquisition negotiations. Excellent results were achieved with the testing and additional work is planned on more samples to be supplied by the Company.
TEST PROGRAM
Test work was completed on a 400 gram sample of flotation tailings from the Quankeng licence, with a grade of 1.18% V2O5. The test using UAEx produced recoveries of 85.31% V2O5. The material had been ground to 80%, passing a 200 mesh screen for earlier flotation tests, in order to remove sulphide phases from the mineralized samples taken from a drill program at Quankeng (the program was completed earlier by Sparton subsidiary VanSpar Mining Inc).
DISCUSSION
CAN’s patent-pending technology has proven to be extremely effective at recovering in solution in excess of 90% of scandium, vanadium, nickel, cobalt, copper, iron and other minerals, in less then one hour and without the use of heat or pressure. CAN has tested over 30 different deposits using its ultrasound assisted technology.
While further detailed work is necessary, it is clear that UAEx has the potential to significantly lower vanadium recovery costs by decreasing the leaching time and acid consumption, as well as by producing clean water waste from its application. CAN’s technology has the potential to reduce the number of leached elements, and in the case of vanadium, a much cleaner V2O5 product with fewer trace metals that can be, for example, detrimental to manufacture of vanadium flow battery electrolyte.
COMMENTARY
The next steps will involve the construction of a pilot scale plant by CAN, capable of limited commercial production in Quebec (Canada). If the technical and economic viability of the process can be established at a commercial scale, Sparton believes that the application of UAEx may substantially reduce vanadium production costs and provide more robust economic performance for any vanadium related production project. The management of the Company looks forward to additional positive results from the test work.
GOING FORWARD
Sparton will provide additional vanadium bearing stone coal (black shale) material to CAN from the Jiangxi deposits in China for UAEx testing. The Company is currently in discussions with CAN for signing a licensing agreement, in order to use the technology for vanadium recovery from this style of mineralization. Discussions are also currently under way for the acquisition of one or more Vanadium Mining Licenses in Jiangxi.
Information about several of these opportunities has been previously reported by the Company in various news releases and presentations and is available on www.sedar.com or the Company website www.spartonres.ca.
ABOUT CAN
CAN is a Canadian corporation focused on the processing and purification of energy metals using patent pending technologies, in partnership with strategic partners. CAN has directly or through joint ventures access to energy and alloy metals, such as nickel, cobalt, scandium and vanadium within substantial tailings deposits. CAN’s key projects are the Punta Gorda Tailings project, conducted in partnership with the Cuban Government, as well as a joint venture with Auxico Resources Canada Inc. on optioned coltan properties in Colombia, Venezuela and Brazil.
A. L. Barker M.A.Sc., P. Eng., P. Geol. is the Qualified Person under NI 43-101 for the technical information in this news release and has reviewed all available data for the results reported and approved the contents of this news release.
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.
Forward-Looking Statements
Information set forth in this news release involves forward-looking statements under applicable securities laws. The forward-looking statements contained herein include, but are not limited to, financings and transactions being pursued, and all such forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and, accordingly, undue reliance should not be put on such forward-looking statements. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.
We Seek Safe Harbour
|
|