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Auxico Resources Announces Completion NI 43-101-Compliant Technical Report on Minastyc Property, Vichada, Colombia
MONTREAL, March 28, 2022 /CNW Telbec/ - Auxico Resources Canada Inc. (CSE: AUAG) is pleased to announce the completion of a National Instrument (NI) 43-101 Tech
About this update from Auxico Resources Canada, Inc.
[{"type":"text","content":" MONTREAL, March 28, 2022 /CNW Telbec/ - Auxico Resources Canada Inc. (CSE: AUAG) is pleased to announce the completion of a National Instrument (NI) 43-101 Technical Evaluation Report (\"Report\") on the Minastyc Property in Vichada, Colombia. The Report is being filed today on SEDAR and will be uploaded shortly thereafter on Auxico's website. Provided below are highlights from the Report: In August of 2021, Joel Scodnick, P.Geo., & Qualified Person (\"QP\") for Auxico took a representative 3.2 tonne bulk sample from two locations of the Area 50 pit. A 7.7 kg fine concentrate returned Total Rare Earth Oxides (TREO) grading 68.32% and 65.67% respectively from the two locations; The presence of radioactive Thorium has always been an issue with many rare earth deposits, however, working with Impact Global Solutions (IGS), the Thorium is precipitated from the monazite concentrate using acid bake, which results in recoveries of 99%+ rendering the rare earth concentrate safe for transportation, thus virtually eliminating the Thorium; Auxico initiated a project with Central America Nickel to develop a metallurgical process using acid bake and the Ultrasound Assisted Extraction technology (\"UAEx\"). Recoveries of over 80% have been demonstrated at IGS on the Rare Earth Elements (REE's); In February, 2022, AMCO Consultants from Bogota submitted a PTO-work program to the Colombian National Mining Agency. Acceptance of the work program will result in a small-scale mining permit to be issued. Once the permit is issued, Auxico will initiate the program proposed by the QP and will mobilize a mobile concentrator onsite to do all of the testing of the concentrates in the field, and will then send the samples to an accredited lab for analyses; A budget of USD 800,000 is proposed, which includes detailed mapping of the alluvials, and an auger drilling program covering the TA Area and Area 5 which will be used to build a resource and develop a mining plan; The TA Area and Area 50 are approximately 1.6 km apart, with both areas returning various high-grades in concentrates including the following elements: Element Symbol Industrial Use Cerium Ce Catalytic converters, ceramics, glass Dysprosium Dy Permanent magnets, data storage, lasers Erbium Er Fibre optics, optical amplifiers, lasers Gadolinium Gd Medical imaging, permanent magnets Haf...