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Search Minerals Inc. Receives $ 1,250,000 R&D Funding Towards a $ 1,900,000 Pilot Plant
Search Minerals Inc. Receives $ 1,250,000 R&D Funding Towards a $ 1,900,000 Pilot Plan...
About this update from Search Minerals Inc.
[{"type":"text","content":"\n\n\n\nSearch Minerals Inc. Receives $ 1,250,000 R&D Funding Towards a $ 1,900,000 Pilot Plant\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\n\n\n\n\n\nSearch Minerals Inc. Receives $ 1,250,000 R&D Funding Towards a $ 1,900,000 Pilot Plant\nCanada NewsWire\nVANCOUVER, Nov. 5, 2015\n\n\n\nVANCOUVER, Nov. 5, 2015 /CNW/ - (TSXV: SMY) Search Minerals Inc. (\"Search\" or the \"Company\") is pleased to announce it will receive research and development (\"R&D\") funding totaling C$1,250,000 from the Research & Development Corporation Newfoundland and Labrador (\"RDC\") and from the Atlantic Canada Opportunities Agency (\"ACOA\") to assist in the  construction and operation of a pilot plant for the testing of Search's metallurgical process (the \"Project\"). Search will receive C$750,000 towards the project from RDC and will receive a C$500,000 conditionally repayable contribution from ACOA. The Company will contribute an additional C$650,000 in working capital.  The total Project cost is approximately C$ 1,900,000.\n\nGreg Andrews, President/CEO comments, \"We are very pleased to have the support of both RDC and ACOA to provide C$ 1.25M R&D funding for this C$ 1.9M project.  Our successful collaboration with RDC and ACOA in 2014, led to the metallurgy breakthrough, whereby grinding, flotation, gravity and magnetic separation were eliminated from the simplified process flow sheet.   This larger scale integrated pilot plant operation will provide Search with the critical engineering data to advance the process through to commercialization. The test will also provide Search with sufficient mixed REO oxide to provide to potential partners to test the downstream separation process into individual rare earth elements.  Our goal is to be able to provide a low-cost, consistent mixed REO oxide product, which would be used to create a stable and consistent final rare earth metal product.  Search is able to finance its' contribution with proceeds from the recent sale of the Strange Lake claims, and...