Clarinova Limited, a wholly owned subsidiary of Element Global, Inc., reports the commencement of a NI 43-101 geological feasibility survey of its audited mining tailing assets.
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The plan entails Clarinova Limited to utilize the resources of Element Global Mining Enterprises, Inc., the wholly owned mining subsidiary of Element Global, Inc. to handle the technical survey and testing beginning this September 2019.
“NI 43-101 Standards” is a Canadian National Instrument for the “Standards of Disclosures for Mineral Projects.” The reports described the mineral resources and mineral reserves on mining projects and properties. Each of these terms is separated into subcategories based on the quality and amount of work carried out to confirm the quantities of minerals available and the economic feasibility of extracting them.
A mineral resource is described as a concentration or occurrence of minerals in such quantity and form and of such quality or grade that it has realistic prospects for economic extraction. The three varieties of mineral resources are nonmetallic, metallic, and fossil fuels.
Getting our project to a 43-101 standard provides the Company with a bankable feasibility of the economic values of the mineral tailings held in Clarinova Ltd.
Merle Ferguson, Chairman, Element Global
Despite the fact ELGL is a US entity which trades in the US, it is undertaking a bankable feasibility study to the quantification and qualification of the globally recognized Canadian NI 43-101 standards, which remains an important validation of the values and content of both base and precious metals in the mineralized tailings.
Furthermore, if the Company should choose to dual-list its equity on a Canadian stock exchange or maybe the London Stock Exchange, the viability would simplify such a listing.