Sep 24 2013
Canadian Metals (the "Company") is pleased to announce that Genivar has been mandated to do a characterization study of the mineral resources at its newly acquired Langis property.
Work has begun on this property, which is owned at 100% by the Company. Characterization work will be conducted during the months of September and October, including a drilling program and a study of the mineralization. These steps, characterization study and study of metallurgy, are essential to produce a NI 43-101 technical report and also to demonstrate the potential value of commercial silica.
Previous work has established the historical mineral resources at 27 million tonnes of silica content at 99.25% SiO2. Uniquartz had previously performed a resource calculation, performed an environmental study, feasibility study, metallurgical testing and thermal shock tests, in addition to operating the deposit in the late '80s and early 1990s, 400 000 m3 of mineralized material was exploited.
The Langis deposit is considered a strategic property by its proximity to the Port of Matane and railway. Génivar was chosen from among the three firms that were invited to submit proposals. 'Genivar's proposal was the most competitive and best suited to the immediate needs of the Company" said Stephane Leblanc, President of the Company.
The Company also announced the signing of a right of first refusal on a new property, named Turtle Hill property, with a historical resource of 96 million tonnes of silica, this property is located less than a mile from the Langis deposit, it is of high interest to the Company for its potential in high-purity silica and its proximity to the Langis deposit.
A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the issuer is not treating the historical estimate as current mineral resources or mineral reserves.
Technical data published in this news release has been reviewed and approved by Etienne Forbes, Geo. and Qualified person of the Company within the meaning of National Instrument 43-101 Disclosure for Mineral Projects.
The world of industrial silica sand by 2016
Global demand for industrial silica sand is projected to grow to 280 million metric tons in 2016, with a value of $9.2 billion. Glass production and foundries will continue to be the largest markets, although faster gains will be registered by the developing hydraulic fracturing sector. The Asia/ Pacific region will account for the largest share of additional silica sand demand, driven by a healthy outlook for construction and foundry output, particularly in China and India. Outside of Asia, the best prospects are expected in the large US market, which is benefiting from its current dominance of hydraulic fracturing activity as well as a rebound in construction and motor vehicle production. Please see our infographic for an introduction to the industry silica sand ; http://www.contactfinancial.com/news/740-canadian-metals-presents-silica-visual-capitalist.html.
Canadian Metals is a mining exploration and development corporation based in Montréal, Québec. The Corporation is focused on acquiring, exploring, and developing mining properties. Its flagship project, and still the priority, is the Massicotte property located in the Detour Gold Trend, in the province of Québec, Canada. Canadian Metals is also looking for new projects to complete its portfolio. For more information, please refer to the Corporation's website.
Press release avilable from http://www.marketwired.com/
Source: http://www.canadianmetalsinc.com/