Tickers: PINX:MLYFF, XTSX:NVM
VANCOUVER, BRITISH COLUMBIA / TheNewswire / December 05, 2016 - Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (The "Company") wishes to provide an update on the progress of constructing the bench scale pilot furnace being done in Fort St John, BC. by Lindon Enterprises Ltd.
After the recent successful completion of the test work from to U of C regarding the use of both the ferrosilicon and the alternate reductant, a major part required for the proof of concept, the fabrication of the furnace is proceeding on schedule. The refractory base was poured and is currently being baked out to remove all moisture. It is expected that the inner liner will be poured and in bake out by early next week. All the raw materials needed are mustered at the furnace site. The dolomite was obtained from the drilling rejects stored in Reno, Nevada which originated from the 2007/08 exploration programs. The company is currently awaiting the arrival of the vacuum pump and completion of the cooling system. These should be complete within two weeks. A picture of the base refractory can be viewed at http://nevadacmi.com/investors/furnace-dec-2016/december-2016.
The company plans to begin the test runs in early January 2017.
Jim Sever COO stated, "This equipment will provide additional engineering data, while producing a significant quantity of magnesium and co products to be used as samples for developing the market. A major area of focus will be to define the cycle time and assess the condenser performance."
Ed Lee CEO states, "It's exciting to be in a position to finally test proof of concept by utilizing our designed furnace in order to produce an ingot from the Tami Mosi property. The furnace has been on hold pending the outcome of the test work that was completed at the University of Colorado which confirmed some of the original benefits identified by the NCM team, so I am glad we held back a bit as the modifications made since has resulted in saving the company time and money".
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.
The technical portion of this press release was prepared under the supervision and review of James Sever, P. Eng., and COO for Nevada Clean Magnesium. Mr. Sever is a non-independent qualified person within the meaning of National Instrument 43-101 standards.
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements in this news release include that we will conduct and close a private placement and that we can become a major U.S. producer and distributor of primary, high grade, low cost magnesium metal. 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, we may not be able hire and retain skilled employees, and other risks associated with being a mineral exploration and development company. We may not be able to close with interested investors on our intended private placement because of perceived risks or market conditions. The Company undertakes no obligation to update forward-looking information 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.
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.
To Reach Nevada Clean Magnesium Please Contact:
Edward Lee, CEO at (604) 210-9862
For additional information please visit our website at
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