Business
Lithium Energy Products Enters into a Strategic Partnership with Draco Logging Ltd to Sell Crushed Rock from the Griffith Mine
(via TheNewswire) Vancouver, British Columbia / TheNewswire / 17 th ...
About this update from Ares Strategic Mining Inc
[{"type":"text","content":"Lithium Energy Products Enters into a Strategic Partnership with Draco Logging Ltd to Sell Crushed Rock from the Griffith Mine(via TheNewswire)\n \n \nVancouver, British Columbia / TheNewswire / 17th September, 2018 - LITHIUM ENERGY PRODUCTS INC. (\"Lithium Energy Products\" or \"LEP\" or the \"Company\") (TSX-V: LEP) (FRANKFURT: N8I) is pleased to announce it has signed a contract with Draco Logging Ltd (\"Draco\") to supply the company crushed rock from its Griffith mine site (the \"Griffith Property) situated at Red Lake, Ontario. \n\n \n \nDraco specialise in summer and winter road construction and maintenance, as well as excavation and back filling. Their operations require sizeable amounts of crushed rock, for which they have signed a five-year purchase agreement with LEP to purchase crushed rock to fulfil their contractual supply agreements. \n\n \n \nJames Walker, CEO of LEP said, \"We're very pleased to use the waste stockpiled rock at our Griffith mine site to our advantage and further improve our cash flow. We have a sizable stockpile of waste rock which we have agreed to sell by the yard and can supply whatever quantities the purchaser is able to exploit. The generated revenue will be used to further our business interests, development our projects, and expand our operations.\"\n\n \n \n\n\n--Paul Sarjeant, P.Geo., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this news release. Mr. Sarjeant is not independent to the Company as he is a director. The property has not been the subject of a NI 43-101 report. \n\n\n\n \n \nAbout Lithium Energy Products Ltd.\n\n\n \nLithium Energy Products has 3 highly prospective properties in Kamloops, Nevada and Arizona.\n\n \n \nVanadium Ridge Project - Barriere, British Columbia\n\n\n \n\n\n- 100% owned - 5213 acres - 20 claims\n\n\n\n- 50km north of Kamloops.\n\n\n\n- Airborne magnetic survey detected an intense magnetic anomaly. A vanadium-rich magnetite deposit was subsequently discovered. \n\n\n\n- Preliminary diamond drilling discovered multiple massive magnetite seams and pods. All drill holes intersected broad intervals of magnetite mineralization.\n\n\n\n- Initial metallurgical testing of the magnetite / vanadium produced concentrate averaging 67% iron, 93% magnetite, and 0.74% vanadium.\n\n\n\n- Metallurgical testing in...