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DNI Metals - Signs LOI to further develop its Vanadium / Polymetallic Alberta Black Shales deposit
DNI Metals - Signs LOI to further develop its Vanadium / Polymetallic Alberta Black Shales deposit.
About this update from Dni Metals Inc
[{"type":"text","content":"TORONTO, ONTARIO / ACCESSWIRE / December 18, 2018 / DNI Metals Inc. (DNI: CSE; DNMKF: OTC) ("DNI" or the "Company") DNI's focus is Graphite in Madagascar, but due to the increase in certain battery metals pricing including the value of Vanadium, V2O5, from $5.89*per pound, in 2014, to over U$27.50 the increase of Cobalt, Co, from U$14.38* per pound, in 2013, to over U$25.06, the increase in Lithium, Li2CO3, from U$ 2.82* per pound to over U$30.00, DNI Metals Inc, is pleased to announce that a number of parties have shown renewed interest in its Black Shales Polymetallic deposit in Alberta.Note: All the mineral prices have changed, the $Can/US exchange rate has changed, and input costs may have changed .*Prices as well used in DNI's resource report dated August 27, 2013. Dan Weir, CEO, commented, "I want to emphasize that DNI is focused on developing its Graphite deposits in Madagascar. The previous management team and board of DNI did an amazing job, developing the Alberta Black Shales deposits. Over $6.7 million was spent on developing the deposits. The new team and I were treating the Black shales as a non-core asset. It is great to see the renewed interest in the project, and the worldwide demand for Vanadium." Highlights of DNI's Vanadium and Polymetallic Resource in Alberta.Several studies on the resources and economic significance of the deposits have been completed and a summary of selected results is presented below. Further details can be found on SEDAR” Vanadium - Buckton South- Inferred Resource - Lower Portion - Second White Speckled Shale Formation 140,761,000 tons Grade .1375% 193,546 tons or 38,709,2000 lbs. of Vanadium Vanadium - Buckton – Inferred Resource - Lower Portion - in Second White Speckled Shale Formation 1,017,619,000 tons Grade .1218% 1,239,459 tons or 2,478,918,000 lbs. of Vanadium Six Mineralized zones Two zones have resources Buckton – Inferred and Indicated Buckton South - Inferred 30 kms south of the Buckton zone Asphalt zone Drill hole 11AS01 26.8-37.9 metres (11.1m) Vanadium grade .0768 DNI's Polymetallic Deposits – Battery and Electric car Metals Lithium Cobalt Nickel Copper Rare Earths Letter of Intent DNI has signed a Letter of Intent ("LOI") granting a private company ("Privateco") an option to earn up to a 51% intere...