Vancouver, B.C. April 9, 2020 – Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”) is pleased to report that SGS Canada (Lakefield) (“SGS”) has been commissioned to conduct preliminary metallurgical testing on a channel sample from SILVER FOX for recovery of a zirconium and hafnium 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: April 8, 2020).
HIGHLIGHTS – ZIRCONIUM AND HAFNIUM RECOVERY TESTING
- A SILVER FOX sample weighing approximately 17 kilograms has been delivered from the channel sample program;
- SGS have proposed a program of preliminary metallurgical work on the SILVER FOX sample comprising:
- Sample preparation (crushing and grinding)
- Sample characterization including zirconium mineralogy
- Concentration testing using gravity, magnetic separation and zircon mineral flotation methods
- SGS will also test a sample of FOXTROT leach residue from the recent optimization program for by-product zirconium and hafnium recovery.The preliminary SILVER FOX test results will be used to select the test conditions for the FOXTROT leach residue.
Greg Andrews, President/CEO states; “The delineation of two CREE resources (FOXTROT & DEEP FOX) and the discovery of two other significant CREE-Zr-Hf mineralized zones (FOX MEADOW & SILVER FOX) is a significant development for our company. We are very pleased to engage our processing consultants, SGS Canada, to provide the preliminary metallurgical work on zirconium and hafnium recovery from the SILVER FOX and FOXTROT material.SGS has been instrumental, along with Dr. David Dreisinger, our VP-Metallurgy/Director, in the development of the direct extraction process flowsheet for our rare earth elements. Our focus remains on rare earth element recovery, but the potential to add value through recovery of a zirconium and hafnium coproduct is very exciting.Entry into the zirconium and hafnium supply chains could offer additional funding and offtake opportunities in addition to what is available from the rare earth supply chain.“
Dr. David Dreisinger, Ph.D., P.Eng., is the Company’s Vice President, Metallurgy and Qualified Person for the purposes of NI 43-101. Dr. Dreisinger has reviewed and approved the technical disclosure contained in this news release as applicable. 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 SGS Canada
SGS is the world’s leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 94,000 employees, SGS operates a network of over 2,600 offices and laboratories around the world.
Around the world, SGS offers a wide range of integrated services for the hard rock, energy minerals and fertilizer sectors including sustainable geochemical analysis, resource calculation, mineralogy, metallurgical testing and consulting, engineering services, advanced systems, water treatment and trade services.For further information regarding these and other SGS services, please visit www.sgs.com/metallurgy.
About Search Minerals Inc.
Led by a proven management team and board of directors, Search is focused on finding and developing resources within the emerging Critical Rare Earth Element (“CREE”) District of South East Labrador. The Company controls a belt 63 km long and 2 km wide including its 100% interest in the FOXTROT and DEEP FOX Projects, which are road accessible and at tidewater. Exploration efforts have advanced FOX MEADOW and SILVER FOX as new CREE prospects very similar to and in close proximity to FOXTROT and DEEP FOX. The FOXTROT Project has a capital cost to bring the initial project into production ($152 M), a short payback period and is scalable due to Search’s proprietary processing technology.
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President and CEO
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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, technical results from the Company’s drilling program and closing of the Offering. 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.