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Fortune Announces Successful Tests to Produce Upgraded and Clean Cobalt Concentrate From the Nico Project
Fortune Announces Successful Tests to Produce Upgraded and Clean Cobalt Concentrate From t...
About this update from Fortune Minerals Limited
[{"type":"text","content":"\n\n\n\nFortune Announces Successful Tests to Produce Upgraded and Clean Cobalt Concentrate From the Nico Project\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nLONDON, ON, Sept. 17, 2018\n\n\n\nSignificant improvement in sale value of cobalt and bismuth concentrates to third party processors and anticipated material reduction in capital and operating costs for development  \nIssued Capital: 338,603,220 \n LONDON, ON, Sept. 17, 2018 /CNW/ - Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) (\"Fortune\" or the \"Company\") (www.fortuneminerals.com) is pleased to announce that it has received successful results of metallurgical test work verifying that it can produce an upgraded and essentially arsenic-free cobalt concentrate for the NICO Cobalt-Gold-Bismuth-Copper development in Canada (\"NICO Project\"). Gold can also be recovered by Fortune from its metal concentrates at the mine site allowing the Company to control the gold revenue stream, while producing separate cobalt and bismuth concentrates for sale to third party processors after arsenic that is typically penalized is removed. The 100% owned NICO Project is a development stage primary cobalt asset with significant gold and bismuth by-products. Fortune has already received environmental assessment (\"EA\") approval and the major permits for the mine and concentrator in the Northwest Territories as well as EA approval for a refinery in Saskatchewan.\nFortune engaged Dundee Sustainable Technologies Inc. (\"DST\") to conduct a metallurgical test work program to assess the application of its \"Pyrolysis Roast\" and \"Arsenic Stabilization\" processes on metal concentrates produced from the NICO Project. The objective of this work was to demonstrate that Fortune can remove the arsenic and create metal concentrates that are more attractive to the market and can be processed in existing metal recovery circuits operating around the world. The test work was initiated after several mining and refining companies contacted Fortune expressing interest in purch...