Zenyatta Successfully Completes Flotation Pilot Testing Portion of Metallurgical Work on Albany Graphite Deposit
(Thomson Reuters ONE) -
THUNDER BAY, ON--(Marketwired - April 25, 2017) - Zenyatta Ventures Ltd.
("Zenyatta" or "Company") (TSX VENTURE: ZEN) (OTCQX: ZENYF) today is pleased to
announce that the completed flotation pilot testing portion of the ongoing
metallurgical work has yielded successful results. The metallurgical testing is
part of the pre-feasibility work for the Albany Graphite Deposit located in
Northeastern Ontario, Canada. Purification test-work is currently underway using
concentrate derived from the pilot flotation plant and this will culminate in a
pilot purification plant. Once the final metallurgical testing is complete, the
process flow sheets and associated engineering data will then be fed into the
engineering part of the on-going pre-feasibility study.
Mr. James Jordan, P.Eng., Project Manager for Zenyatta stated, "We are very
pleased with the results to date as they not only surpassed flotation
performance achieved in the previous pilot but also exceeded the optimized bench
scale tests. At a target grade of 85% graphite, flotation recovery is projected
to be approximately 90%. The graphite concentrate will be fed to the
purification process to yield approximately 99.9% carbon purity. Due to the
unique igneous origin of the Albany graphite mineralization, there are no other
truly equivalent deposits on which we can model our process. We are therefore
continually learning more about its distinctive response to various flotation
parameters and especially to the circuit arrangement."
The metallurgical work is being carried out at SGS Canada Inc. ("SGS") in
Lakefield, Ontario under the guidance of Mr. Jordan. The completed flotation
pilot testing work was performed on two composites from the East Pipe and the
West Pipe of the Albany graphite deposit. Significantly, results show consistent
improvement in metallurgical performance with similar concentrate grades and
recoveries obtained from both the East and West Pipe graphite zone material. The
upcoming pilot purification plant will also produce additional high-purity
graphite marketing material for testing by global corporations and academic
institutions for Li-ion battery, fuel cell and graphene applications.
This metallurgical pilot program will be on-going for the next several months
and completed in the first half of 2017. The engineering and environmental
assessment parts of the pre-feasibility study are anticipated to commence in the
3(rd) quarter of 2017. The proposed work will include drilling geotechnical
holes for the pit design and hydrogeology holes for ground water testing and
monitoring.
Zenyatta Ventures Ltd. is developing the Albany Graphite Deposit situated in
northeastern Ontario, Canada. The deposit is a unique type of igneous-hosted,
fluid-derived graphite mineralization contained in two large breccia pipes. The
Company is seeking end users for their graphite and graphene and is working with
several collaborative partners including the development of a graphene enhanced
concrete. Other potential markets for graphite include Li-ion batteries, fuel
cells and powder metallurgy. The application for graphitic material is
constantly evolving due to its unique chemical, electrical and thermal
properties. It maintains its stability and strength under temperatures in excess
of 3,000°C and is very resistant to chemical corrosion. It is also one of the
lightest of all reinforcing elements and has high natural lubricating abilities.
The outlook for the global graphite market is very promising with demand growing
rapidly from new applications. It is now considered one of the more strategic
elements by many leading industrial nations, particularly for its growing
importance in high technology manufacturing and in the emerging "green"
industries such as electric vehicle components.
The Albany graphite deposit is situated 30 km north of the Trans-Canada Highway,
power line and natural gas pipeline near the communities of Constance Lake First
Nation and Hearst. A rail line is located 70 km away with an all-weather road
approximately 10 km from the graphite deposit. The world trend is to develop
products for technological applications that need extraordinary performance
using ultra-high purity graphite powder at an affordable cost. Albany graphite
can be upgraded with very good crystallinity without the use of aggressive acids
(hydrofluoric) or high temperature thermal treatment therefore having an
environmental advantage over other types of upgraded high-purity graphite
material.
Mr. Aubrey Eveleigh, P.Geo., Zenyatta's President and CEO, is the "Qualified
Person" for the purposes of National Instrument 43-101 and has reviewed,
prepared and supervised the preparation of the technical information contained
in this news release. SGS performed analyses of all purified Albany graphite
samples by direct ash analysis using a platinum crucible, according to a
validated method that also accurately quantifies key trace level impurities by
subsequent ICP analysis.
For Further Information Please visit the Company's website
at: http://www.zenyatta.ca or contact:
Mara Strazdins, HB.Sc., VP Corporate Communications and Investor Relations
Mobile: (416) 710-0646, Office (807) 346-1660
Email: mstrazdins(at)zenyatta.ca or info(at)zenyatta.ca
CAUTIONARY STATEMENT: This analysis does not represent a statistically large
sample size. Furthermore, these positive results do not mean that Zenyatta can
extract and process Albany graphite for graphite applications on an economic
basis. Without a formal independent feasibility study, there is no assurance
that the operation will be economic. The Company has completed a July 9, 2015
Preliminary Economic Assessment which indicates an open pit mine life of 22
years (excludes underground resource which is open at depth) producing 30,000
tonnes purified graphite per annum (see Zenyatta press release of 1 June 2015).
The PEA is preliminary in nature, it includes inferred mineral resources that
are considered too speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as mineral reserves,
and there is no certainty that the preliminary economic assessment will be
realized. 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. This news release
may contain forward looking information and Zenyatta cautions readers that
forward looking information is based on certain assumptions and risk factors
that could cause actual results to differ materially from the expectations of
Zenyatta included in this news release. This news release includes certain
"forward-looking statements", which often, but not always, can be identified by
the use of words such as "potential", "believes", "anticipates", "expects",
"estimates", "may", "could", "would", "will", or "plan". These statements are
based on information currently available to Zenyatta and Zenyatta provides no
assurance that actual results will meet management's expectations. Forward-
looking statements include estimates and statements with respect to Zenyatta's
future plans, objectives or goals, to the effect that Zenyatta or management
expects a stated condition or result to occur, including the expected timing for
release of a pre-feasibility study, the expected uses for graphite in the
future, and the future uses of the graphite from Zenyatta's Albany deposit.
Since forward-looking statements are based on assumptions and address future
events and conditions, by their very nature they involve inherent risks and
uncertainties. Actual results relating to, among other things, results of
metallurgical processing, ongoing exploration, project development, reclamation
and capital costs of Zenyatta's mineral properties, and Zenyatta's financial
condition and prospects, could differ materially from those currently
anticipated in such statements for many reasons such as, but are not limited to:
failure to convert estimated mineral resources to reserves; the preliminary
nature of metallurgical test results; the inability to identify target markets
and satisfy the product criteria for such markets; the inability to complete a
prefeasibility study; the inability to enter into offtake agreements with
qualified purchasers; delays in obtaining or failures to obtain required
governmental, environmental or other project approvals; political risks;
uncertainties relating to the availability and costs of financing needed in the
future; changes in equity markets, inflation, changes in exchange rates;
fluctuations in commodity prices; delays in the development of projects; capital
and operating costs varying significantly from estimates and the other risks
involved in the mineral exploration and development industry; and those risks
set out in Zenyatta's public documents filed on SEDAR. This list is not
exhaustive of the factors that may affect any of Zenyatta's forward-looking
statements. These and other factors should be considered carefully and readers
should not place undue reliance on Zenyatta's forward-looking statements.
Although Zenyatta believes that the assumptions and factors used in preparing
the forward-looking information in this news release are reasonable, undue
reliance should not be placed on such information, which only applies as of the
date of this news release, and no assurance can be given that such events will
occur in the disclosed time frames or at all. Zenyatta disclaims any intention
or obligation to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, other than as required by
law.
CONTACT INFORMATION
Zenyatta Ventures Ltd.
info(at)zenyatta.ca
Tel. 807-346-1660
www.zenyatta.ca
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Zenyatta Ventures Ltd via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 25.04.2017 - 14:00 Uhr
Sprache: Deutsch
News-ID 538175
Anzahl Zeichen: 11209
contact information:
Town:
Thunder Bay, ON
Kategorie:
Business News
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"Zenyatta Successfully Completes Flotation Pilot Testing Portion of Metallurgical Work on Albany Graphite Deposit"
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