Mindoro Announces First Nickel Production from Pilot Plant
19 3월 2014 - 12:02AM
Marketwired
Mindoro Announces First Nickel Production from Pilot Plant
EDMONTON, ALBERTA--(Marketwired - Mar 18, 2014) - Mindoro
Resources Ltd. (TSX-VENTURE:MIO)(ASX:MDO)(FRANKFURT:WKN 906167)
("Mindoro", or "the Company") today advised that joint venture
partner, TVI Pacific Inc. (TSX:TVI)(OTCQX:TVIPF) ("TVI") and its
Philippine operating affiliate, TVI Resource Development (Phils.),
Inc. ("TVIRD"), announced the first nickel production from the
joint venture's pilot plant at Intertek Minerals Philippines in
Manila, for the Agata North project, Agusan del Norte Province,
northern Mindanao.
TVI Pacific Chairman, President, & CEO, Cliff M. James, said
this is another significant milestone that has allowed us to
successfully validate both production and cost efficiencies of our
process, adding that the technical program is on track to provide
metallurgical data required to design the proposed full-scale pilot
plant.
Highlights of the Pilot Plant Results
- A Nickel Hydroxide Product (NHP) filter cake was produced from
TVIRD's pilot plant on February 7th, 2014 with a 52% to 54% Ni
grade.
- NHP impurities such as Fe, Ca and Mg are low, thereby resulting
in a versatile refined intermediate nickel product that may be
directly processed to nickel oxide or nickel metal with no further
refining required.
- Prior to NHP production, 8,000L of Fe and Ni rich Pregnant
Leach Solution ("PLS") was purified via TVIRD's continuous
counter-current ion exchange ("IX") pilot plant, successfully
validating the viability of this IX purification process as well as
establishing all design parameters for full-scale plant
design.
- IX Ni recovery from PLS to eluate was 99.3%.
To view the images associated with this press release, please
visit the following link:
http://media3.marketwire.com/docs/MIO_images.pdf.
The successful pilot testing is an important step in producing
the bankable feasibility study, currently in progress. For further
details, see TVI's March 17, 2014, press release, available on
TVI's website (http://tvipacific.com/) and SEDAR
(www.sedar.com).
Mindoro and TVIRD Joint Ventures
Mindoro has four joint venture agreements with TVI's Philippine
affiliate, TVIRD, whereby TVIRD may earn up to 60% interest in the
Agata and Pan de Azucar projects, located in the Philippines on the
islands of Mindanao and Panay. TVIRD will act as operator of the
projects. The joint ventures present Mindoro with multiple growth
opportunities for near and medium-term cash flow generating
potential. Opportunities at Agata include:
- near-term high iron (Fe) laterite direct shipping ore (DSO)
operation
- near-term limestone DSO operation
- medium-term lime production facility
- medium-term nickel processing plant project
A National Instrument 43-101 Compliant Mineral Resource estimate
released on April 10, 2013 (available on www.sedar.com and
www.mindoro.com) shows the Agata DSO project to have reported
Proven and Probable Reserves of 9.70 million wmt grading of 48% Fe
with 0.9% Ni. The joint venture is currently seeking the final
required permits to allow the DSO operation to commence. Prime
Resources Holdings, Inc., a Philippines corporation and
wholly-owned subsidiary of Prime Asset Ventures, Inc., holds a
68.42% direct equity interest in TVIRD. See Mindoro's October 1,
2012, and June 24, 2013, press releases for further joint venture
details.
On behalf of the Board of Directors,
Tony Climie, CEO
About Mindoro
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange
(MIO), Australian Securities Exchange (MDO) and Frankfurt Stock
Exchange (WKN 906167). Mindoro has a 75% interest and an option to
acquire the remaining 25% in the Agata Nickel Project, Mindanao,
and the Pan de Azucar Sulphur-Copper-Gold Project, Iloilo. TVIRD
has the option to earn up to a 60% interest in these projects by
meeting the earn-in requirements outlined in the June 24, 2013,
release. Mindoro also holds a 9% stake in ASX listed Red Mountain
Mining (ASX:RMX), which has a 100% direct and indirect interest in
the Batangas gold and copper-gold projects.
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.
Tony Climie P.Geol., is the CEO of Mindoro Resources Ltd and
has sufficient experience which is relevant to the style of
mineralization and type of deposit under consideration and to the
activity which he is undertaking to qualify as a qualified person
as defined by National Instrument 43-101. Tony Climie consents to
the inclusion in the report of the matters based on the information
in the form and context in which it appears.
This release may contain forward-looking statements
including management's assessments of future plans and operations,
and expectations of future production. These statements are based
on current expectations that involve a number of risks and
uncertainties, which could cause actual results to differ
materially from those anticipated. These risks include, but are not
limited to, the risks associated with the mining and exploration
industry (e.g. operational risks in development, exploration and
production; delays or changes in plans with respect to exploration
or development projects or capital expenditures; the uncertainty of
reserve estimates; the uncertainty with respect to results of
exploration, the uncertainty of estimates and projections relating
to production and the uncertainty of the availability of capital).
The assumptions used in the preparation of such statements,
although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking statements. The Company does not
undertake to update forward-looking statements except where
required to do so by law.
For investor relations inquiries:Mindoro Resources
Ltd.ir@mindoro.comwww.mindoro.comAustraliaClayton Northey+61 3 9028
8187CanadaPenny Gould+780 719 8895CanadaJeanny So, CHF Investor
Relations+1 416 868 1079 ext. 225
Mindoro Resources Ltd. (TSXV:MIO)
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