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Search Minerals Receives Funding From Atlantic Canada Opportunities Agency for Cost and Design Studies
VANCOUVER, British Columbia, March 03, 2020 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”) is pleased to announce that Atlanti
About this update from Search Minerals Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, March 03, 2020 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”) is pleased to announce that Atlantic Canada Opportunities Agency (“ACOA”) has approved funding of up to $50,000 towards the completion of two engineering studies to further advance the Company’s Critical Rare Earth Element District in South East Labrador, Canada. The first study will provide an updated cost of capital and operating costs for a full processing facility operating at 2,000 tonnes per day. The second engineering study will determine both capital and operating costs and design of a 1/200 scale demonstration plant to be built and operated on-site in St. Lewis, Labrador treating 10 tonnes per day of rare earth containing rock. Greg Andrews, President/CEO states: “We appreciate the funding support from ACOA that allows Search to prepare the necessary costs and design work to advance our proprietary direct extraction processing technology for our rare earth project. The first study will be used to update a Preliminary Economic Assessment (“PEA”) that will incorporate the successful results of the two pilot plants, which operated in 2017 and 2019. The updated information from our pilot plants includes increased recoveries, and modifications to the flow-sheet and reagent usage; each with the goal to reduce both capital and operating costs.” “Furthermore: The second study will utilize the information from the full-scale processing plant study to design and cost for a 1/200 scale demonstration plant. The demonstration plant will be used to produce additional high-purity mixed REO concentrate for customer sampling and individual REE separation testing, training purposes, and further optimization of the flowsheet. We believe that Search has completed sufficient bench and pilot plant work to proceed to this demonstration plant operation. Search has a growing resource base at Foxtrot and Deep Fox and has demonstrated technology to produce high-purity mixed REO concentrate. Search expects to leverage these advantages to attract funding from various government agencies and collaboration partners; all looking to build and establish a North American REE supply chain.” Search Mineral Patented Direct Leach Extraction Process Search's Direct Extraction process provides a high-purity rare ...