Orbite Brilliantly Completes its 2011 Drilling Program, Signalling Another Step Towards Commercialization of its Products
The Geological Survey of Japan expresses its interest in Orbite rare earths, irrefutable evidence of the Company's leadership in this area
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwire) -- 10/20/11 -- Orbite Aluminae Inc. (TSX: ORT) ("Orbite") is pleased to announce the very successful completion of its 2011 drilling campaign on its aluminous clay deposit located 23 kilometres south of Grande-Vallee.
As part of the campaign, 22 holes totalling 2,718 metres were drilled in the Marin sector (easterly portion of the property). Major elements such as alumina (Al2O3), underwent carrot analysis with more than 509 total samples sent for analysis to ALS Chemex laboratories, a leader in analytical data service and metallurgy services for the ressources industry. One of the program's objectives was to better understand the geological contact dips between the Orignal formation and the surrounding Riviere Ouelle formation. In order to study the statistical behaviour of rare earths, a series of 16 holes totalling 663 metres and 180 samples, were drilled also in the Marin sector.
To measure the depth extent of aluminous clay resources, seven holes were drilled in the Simoneau area on the western portion of the property, totalling 1,250 metres and 388 analyses.
"The drilling program was conducted smoothly and we are extremely pleased with the early results. The 2011 exploration program is fully in the context of our strategic plan, to continuously add superior value to our deposit, " said Richard Boudreault, President and CEO of Orbite.
In 2009 and 2010, 5,339 metres of drilling holes and 1,180 analyses were carried out on alumina (Al2O3) and other elements in order to note and classify Marin sector resources. In March 2011, a 43-101 technical report was published on SEDAR and revised and amended in August 2011 which reports the data obtained and establishes the amount of "indicated mineral resources" in a section of Orbite's mineral deposit at approximately 1 billion metric tonnes of aluminous clay. The exploration being completed for 2011, a 43-101 technical report should be completed, at the latest, at the beginning of the second quarter of 2012.
The Geological Survey of Japan visits Orbite
Strong interest in the presence of rare earths in Orbite's aluminous clay spurred a visit from Dr. Watanabe of the Geological Survey of Japan on September 29, 2011. Dr. Watanabe visited Orbite's aluminous clay deposit, including the Cap-Chat plant, as well as other sources of rare earths around the world to meet Japanese industry's growing needs for these minerals.
"Our talks with global players are intensifying, especially with regard to our SGA alumina high-purity alumina and rare earths, which further demonstrates our company's great potential," stated Richard Boudreault.
About Orbite
Orbite (pronounced "Orbit") owns 100% of the mining rights on approximately 6,400 hectares of a Grande-Vallee property, the site of an aluminous clay deposit located 23 km to the south of Grande-Vallee, and a 28,000 sq. ft. redundant line pilot plant in Cap Chat, in the Gaspe region. The NI 43-101 report issued in August 2011 has identified an Indicated Resource of about 1 billion tonnes of aluminous clay in part of the deposit. The Company also owns the intellectual property rights to a unique Canada and U.S.-patented process for extracting alumina from aluminous ores and for which patents are also pending in other countries.
Regulation 43-101 and forward-looking statements
The information and the analyses contained therein do not constitute any type of feasibility study or economic assessment within the meaning of Regulation 43-101 respecting standards of disclosure for mineral projects (Quebec) ("Regulation 43-101"). No preliminary feasibility study, pre-feasibility study or feasibility study pursuant to the requirements of Regulation 43-101 has been completed to date.
Certain information and statements contained herein constitute forward-looking statements. Words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements are based on information available at the time and/or Exploration Orbite's management's good-faith beliefs with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation's control. These risks, uncertainties and assumptions include, but are not limited to those described in the section of the Annual Information Form entitled "Risk Factors", and could cause actual events or results to differ materially from those projected in any forward-looking statements.
Readers are invited to consult the Report on the Geological Study prepared in conformity with Regulation 43-101 and the Annual Information Form of the Corporation, both amended and restated and respectively filed on August 21 and 25,2011 and are available at or on the Corporation's website at . The resulting technical report in no way alters technical and mineral disclosure or conclusions provided in the initial report.
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 release.
Contacts:
MEDIA
Frederic Berard
Vice-President
HKDP Communications and public affairs
514-395-0375, ext. 259
ORBITE
Jacques Bedard
Vice-President Finance and Chief Financial Officer
514-744-6264
INVESTOR RELATIONS
Louis Morin
Investor Relations
514-591-3988
Jason Monaco
Managing Partner
First Canadian Capital Corp.
416-742-5600
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