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EMC Metals files a NI43-101 Technical Report for the Nyngan Gilgai Scandium Deposit and Completes the Second Milestone in their Joint Venture Agreement with Jervois Mining Ltd.
EMC Metals files a NI43-101 Technical Report for the Nyngan Gilgai Scandium Deposit and Completes...
About this update from Scandium International Mining Corp.
[{"type":"text","content":"\n\n\n\nVANCOUVER, Apr. 22, 2010 (Canada NewsWire Group) -- /CNW/ -- EMC Metals Corp. (TSX:EMC) (the \"Company\") is pleased to announce that it has filed a NI43-101 Technical Report titled \"NI43-101 Technical Report on Nyngan Gilgai Scandium Project, Jervois Mining Limited, Nyngan, New South Wales, Australia\" with SEDAR and is available at http://www.sedar.com.The Nyngan Gilgai Scandium Deposit is hosted with the lateritic zone of the Gilgai Alaskan-type, mafic and ultramafic intrusions and contains a NI43-101 compliant resource of 12,012,000 tonnes grading 261 ppm Sc using a 100 ppm Sc cut-off grade.In 2009, scandium was primarily used to produce high-strength aluminum-scandium alloys. These lightweight alloys were used in high-end sporting equipment such as baseball and softball bats, bicycle frames, and golf clubs as well as minor components for the aerospace industry. An emerging market for scandium lies within the energy industry with the development of Solid Oxide Fuel Cells (SOFCs). SOFCs are devices that produce electricity directly from oxidizing a fuel using a solid oxide, or ceramic, electrolyte.Currently there are no primary producers of scandium, and the world supply of scandium is produced solely as byproducts from other process streams, mainly from uranium, tungsten, tin and titanium production. The United States Geological Survey (USGS) in its latest report (January, 2010) quotes a price of US$1,400 per kilogram of Sc(2)O(3) for the four previous years.In Addition to filing the Technical Report, EMC Metals has completed the Conditions Precedent in its Joint Venture Agreement with Jervois Mining Ltd. (Jervois) of Melbourne, Victoria, Australia, for the development of the Nyngan Scandium property in New South Wales, Australia.Mr. William M. Sheriff, A/President of EMC, said: \"Along with the filing of the NI43-101 report for this deposit, we have now also completed the first phase in the fulfillment of EMC's obligations under the terms of the Agreement, well ahead of schedule.\"Conditions PrecedentThe formation of the Joint Venture was conditional on each of the following conditions being completed:1. EMC being satisfied that Jervois, subject to the Prior Royaltyinterest, was the sole and beneficial owner of the Joint VentureProperty at the date of execution of this Agreement, free ofencumbrances or claims by Th...