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South Star Mining Targets Trial Mining License in Brazil
(via TheNewswire) Not for distribution to US wire services or for dissemination in the...
About this update from South Star Battery Metals Corp
[{"type":"text","content":"South Star Mining Targets Trial Mining License in Brazil(via TheNewswire)\n \n \nNot for distribution to US wire services or for dissemination in the United States of America\n\n \n \n Vancouver, B.C. / TheNewswire / July 11, 2018 -- South Star Mining Corp. (\"South Star\" or the \"Company\") (TSXV: STS) is pleased to announce that further to the Company's recent closing of the 100% acquisition of Brazil Graphite S.A., and raising a total of $4.94 million, the Company is proceeding with building on the information contained in the previously released NI 43-101 Preliminary Economic Assessment. The Company's main objective, over the next 12 months, will be completion of the requirements for a Guia de Utilizacao, or trial mining license, for the Santa Cruz graphite project.\n\n \n \nUnder the Brazilian Mining Code, a trial mining license may be granted for the extraction of up to 5000 tons of graphite per year per exploration license. The purpose of the trial mining license is to evaluate the technical and economic viability of each exploration license. The Company currently owns 100% of 13 exploration licenses totaling 13,316 hectares, of which 11 are contiguous. The 43-101 report dated Feb 6, 2018, defined indicated resources of 14.99 million tons at 2.70% Cg and inferred resources of 3.57 million tons at 2.90% Cg (defined on approximately 1% of its acreage). As per the PEA, projected operating costs were between US$316 and US$413 per ton with a weighted average sales price of US$1354 per ton. The Company will conduct further infill drilling, environmental studies, independent metallurgical studies, mine planning, process plant engineering, equipment sourcing, etc., which, together with ongoing concentrate marketing, will be submitted to Brazil's National Mining Agency (ANM) in support of the trial mining license application. Additional planned test work is designed to increase the Company's confidence in the suitability of Santa Cruz concentrates for the lithium ion battery market and other newly emerging graphite technologies.\n\n \n \nThe Company has the financial resources to complete the above as well as continue to progress the project towards a bankable feasibility study with the objective of obtaining the necessary installation and operating licenses which will allow the Company to proceed to large scale mining. \n\n \n \...