I-Minerals Sells 3,000 tons of WBL K-spar-Quartz Tailings
04 12월 2013 - 11:00PM
Marketwired
I-Minerals Sells 3,000 tons of WBL K-spar-Quartz Tailings
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 4, 2013) -
I-Minerals Inc. (TSX-VENTURE:IMA)(PINKSHEETS:IMAHF) (the "Company")
announces it has agreed to sell up to 3,000 tons of WBL Tailings
material through a bulk sample arrangement with Pre-Mix of Pullman
Washington. Pursuant to this agreement screening of approximately
3,000 tons of tailings material was completed in late October with
the screened material stacked for later shipment to Pre-Mix's
Pullman facility. Several hundred tons of the screened material has
been transported to the Pullman facility with the balance expected
to be hauled to Pullman in the spring of 2014. Pre-Mix of Pullman
has tested the material on a bench test level and assuming the bulk
sample also performs to its satisfaction discussions are focussed
around sales of a minimum of 20,000 ton per annum for the
foreseeable future.
The WBL tailings material was derived from prior operator's
mining of the Bovill area primary clays. The operator at that time
only recovered the kaolin with the quartz and potassium feldspar
("K-spar") being wasted to the tailings. Mining of the tailings is
being undertaken pursuant to a Mine Plan of Operations ("the MPO")
from Idaho Department of Lands issued to I-Minerals in September
2012.
"While the tailings material could be processed through a
flotation facility to create high value K-spar and quartz products,
our drilling and associated prefeasibility work indicates our
Helmer-Bovill property hosts abundant resources of quartz and
K-spar that will last for many years to come," stated Thomas Conway
President and CEO of I-Minerals Inc. "Hence making the sales today
at more moderate pricing will not have any impact on our Bovill
Kaolin project, but will help to establish I-Minerals as a producer
with prospective customers, stakeholders and regulators."
A. Lamar Long, CPG, is a qualified person ("QP") for I-Minerals
Inc. and has reviewed and approved the contents of this
release.
About I-Minerals
I-Minerals is developing multiple deposits of high purity-high
value halloysite, quartz, potassium feldspar and kaolin at its
strategically located Helmer-Bovill property in western Idaho. A
2013 Prefeasibility Study completed by SRK Consulting (USA) Inc.
highlights the potential of the Helmer-Bovill property: after tax
NPV6 of $150 million; 28% IRR; 3 year payback and $67 million
initial CAPEX; $84 million CAPEX including life of mine sustaining
capital. Ongoing development work is focused on upgrading the
probable reserve to a proven reserve as the Company moves through
the feasibility process towards production.
I-Minerals Inc.
Thomas M. Conway, President & CEO
This news release includes certain "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995. Without limitation, statements
regarding potential mineralization and resources, exploration
results, and future plans and objectives of the Company are
forward-looking statements that involve various risks. Actual
results could differ materially from those projected as a result of
the following factors, among others: changes in the world wide
price of mineral market conditions, risks inherent in mineral
exploration, risk associated with development, construction and
mining operations, the uncertainty of future profitability and
uncertainty of access to additional capital.
NEITHER THE 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 NEWS RELEASE.
I-Minerals Inc.Barry Girling877-303-6573 or
604-303-6573604-684-0642info@imineralsinc.comwww.imineralsinc.com
I Minerals (TSXV:IMA)
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