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Fortune Minerals Reports Successful NICO Project Bismuth Test Work Results for the Planned Alberta Refinery
Smaller and simpler bismuth circuit with high metal recoveries align with new market demand ...
About this update from Fortune Minerals Limited
[{"type":"text","content":"Fortune Minerals Reports Successful NICO Project Bismuth Test Work Results for the Planned Alberta Refinery\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwmarginl1 { margin-left: 30px }\n.bwuline { text-decoration: underline }\n \n\n\n\n\n Smaller and simpler bismuth circuit with high metal recoveries align with new market demand\n \n\n\n\n\n\n Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF)\n \n (“\n \n Fortune\n \n ” or the “\n \n Company\n \n ”) (\n \n www.fortuneminerals.com\n \n ) is pleased to report that metallurgical test work validation is essentially complete for the bismuth circuits for the Company’s 100% owned NICO cobalt-gold-bismuth-copper critical minerals project in Canada (“\n \n NICO Project\n \n ”). The Process Design Criteria has been compiled and delivered to Worley Canada Services Ltd. (“\n \n Worley\n \n ”) to engineer the facilities and incorporate them into the Company’s updated Feasibility Study. With 12% of global bismuth reserves, development of the NICO Project aligns with the increasing demand for bismuth in traditional and new market applications and the historic high prices (~US$ 27 per pound), compounded by China’s recent export restrictions on this, and other critical minerals.\n \n\n The vertically integrated NICO Project consists of a planned mine and concentrator in the Northwest Territories (“\n \n NWT\n \n ”) and a hydrometallurgical process facility in Lamont County, Alberta where concentrates from the mine, and other feed sources, will be processed to value-added products needed in diverse industries, the energy transition, new technologies, and defense. Development of the NICO Project will provide a reliable North American supply of cobalt sulphate, gold doré, bismuth ingots, and copper cement enhancing domestic production of three critical minerals. The 1.1 million ounces of in-situ gold in the NICO Project Mineral Reserves is also a highly liquid and countercyclical co-product to mitigate metal price volatility.\n \n\n Like our news?\n \n Click-to-post on X.\n \n\n\n\n Bismuth Process Highlights\n \n\n\n -\n \n Improved bismuth leaching and cementation circuits with an expected reduction in capital and operating costs and higher metal recoveries\n \n\n -\n \n Effic...