Tickers: PINX:MLYFF, XTSX:NVM
VANCOUVER, BRITISH COLUMBIA / TheNewswire / October 17, 2016 - Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (The "Company") today announced the successful completion of the verification program with ferro silicon and an alternate reductant using dolomite from the Company's Tami-Mosi magnesium property, located near Ely, Nevada, USA.
The program was performed by the Department for Chemical and Biological Engineering at the University of Colorado under the direct supervision of James Sever, P. Eng., COO and director of NCM. In addition to verifying the previous testing program, these test runs also assessed the viability of the Tami-Mosi dolomite to produce magnesium metal.
James Sever, P. Eng., COO and director stated, "Several positives came from doing this test work":
1.The Tami-Mosi dolomite deposit can produce magnesium metal under controlled conditions using the silicothermic reduction process.
2.It demonstrated the Tami-Mosi dolomite is 100% reactive.
3.Testing supported the alternate reductant is equally effective as Ferro silicon as a viable reductant.
4.Supported an alternate heat transfer medium that will enable efficient heat recovery.
5.Defined the configuration and dimensions of the blended dolime/reductant briquettes.
6.Identified the optimal calcination parameters.
8.Showed spent briquettes decrepitated to a fine powder indicating that the residue is dicalciumsilicate, a component of portland cement.
Edward Lee, Chairman & CEO states, "This test work is an important technical step forward for the company and its shareholders. It helps validate the Company's resource and expedites the need to complete the fabrication of the bench scale pilot furnace. These additional opportunities created are most reassuring for advancing the Tami Mosi project toward producing magnesium metal within the United States."
About Nevada Clean Magnesium, Inc.
Nevada Clean Magnesium is focused on becoming a major U.S. producer and distributor of primary, high grade, low cost magnesium metal extracted from its 100% owned Tami-Mosi property located in North Central Nevada. Based on the Company's NI 43-101 Preliminary Economic Assessment Report published in September 2011 and amended in July 2014, the Tami-Mosi Project has an inferred resource of 412 million tonnes with an average grade of 12.3% Mg for a contained metal content of 111 billion pounds of magnesium using a 12% cut-off grade contained within a high purity dolomite block. For more information, please visit www.nevadacmi.com.
This press release was prepared under the supervision and review of James Sever, P. Eng., president and COO for Nevada Clean Magnesium. Mr. Sever is a non-independent qualified person within the meaning of National Instrument 43-101 standards.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statement
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate" and other similar words, or statements that certain events or conditions "should", "may" or "will" occur. We may not receive additional subscriptions and we may determine that other needs must be paid rather than those we currently consider priorities. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Actual results may differ materially from those currently anticipated due to a number of factors, including the Company's dolomite reserves may not be mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic, and other risks associated with being a mineral exploration and development company. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
To Reach Nevada Clean Magnesium Please Contact:
Edward Lee, CEO at (604) 210-9862
For additional information please visit our website at http://www.nevadacmi.com
or view our profile at http://www.sedar.com.
1 2 cycles per day, as presented by RIMA Group at the International Magnesium Association meeting held in Prague, Czechoslovakia 2012.
2 Original NI 43-101Preliminary Economic Assessment revised July 04, 2014 states one 24 hour process cycle time.
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