Tickers: PINX:MLYFF, XTSX:NVM
Tags: Mining
VANCOUVER, BRITISH COLUMBIA / TheNewswire / January 23, 2018 - Nevada Clean Magnesium, Inc. (TSXV:NVM; Frankfurt-M1V; OTCQB:MLYFF) (the "Company") ") is pleased to announce it has received the final assay report to assess the purity of the raw magnesium metal produced from its bench scale pilot furnace test program.
Magnesium metal produced in fall of 2017 from the bench scale pilot furnace testing was analyzed by Gateway Analytical located in Gibsonia, Pennsylvania, USA in accordance with ASTM E1479-16 standards via inductively coupled plasma (ICP). This unrefined magnesium metal was found to have a very good metal purity capable of producing ASTM B92 grade metal with minimal treatment. No impurities which would impact food grade applications were found.
James Sever, COO states, "It is reassuring to prove that the ore and process are capable of producing high quality metal. We can now move to the next stage which is to design, build and operate a pilot furnace capable of continuous operation yielding product that can be sold into the marketplace."
About Nevada Clean Magnesium, Inc.
Nevada Clean Magnesium is focused on becoming a major U.S. producer and distributor of primary, high grade, low cost magnesium metal extracted from its 100% owned Tami-Mosi property located in North Central Nevada. Based on the Company's NI 43-101 Preliminary Economic Assessment Report published in September 2011 and amended in July 2014, the Tami-Mosi Project has an inferred resource of 412 million tonnes with an average grade of 12.3% Mg for a contained metal content of 111 billion pounds of magnesium using a 12% cut-off grade contained within a high purity dolomite block. For more information, please visit www.nevadacmi.com.
This press release was prepared under the supervision and review of James Sever, P. Eng., and COO for Nevada Clean Magnesium. Mr. Sever is a non-independent qualified person within the meaning of National Instrument 43-101 standards.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements in this news release include that we produced magnesium metal and implies that we can become a major U.S. producer and distributor of primary, high grade, low cost magnesium metal. Actual results may differ materially from those currently anticipated due to a number of factors, including the Company's dolomite reserves may not be mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic, we may not be able hire and retain skilled employees, and other risks associated with being mineral exploration, furnace or company development. We may not be able to close with interested investors on our intended private placement because of perceived risks or market conditions. The Company undertakes no obligation to update forward-looking information except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this news release.
To Reach Nevada Clean Magnesium Please Contact:
Edward Lee, CEO at (604) 210-9862
For additional information please visit our website at http://www.nevadacmi.com or view our profile at http://www.sedar.com.
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