Canadian Mining Sources Potential Mill and Will Engage Local Drilling Contractor for its Upcoming NI 43-101 Drill Program
August 14 2012 - 11:00AM
PR Newswire (Canada)
Symbol: CNG - TSX.V VANCOUVER, Aug. 14, 2012 /CNW/ - Canadian
Mining Company Inc. has recently acquired consent to the use of
data as reported in the historic non-compliant 1994 Exploration
Programme Reserve Estimate and Mine Feasibility Review and
Recommendation Report and the historic non-compliant 2001
Exploration Program and Resource Evaluation Report on the Sun Group
of Claims. This historic data is beneficial for Canadian Mining's
upcoming NI 43-101 drill program and will significantly reduce the
related costs. NI 43-101 Drill Program On the recommendation of the
Company's Qualified Person, John Beck of Beck and Associates, the
Company will be engaging a local driller to carry out the drill
program. Having a compliant NI 43-101 Resource Report will not only
establish the size and grade of the zeolite deposit, but it will
also assist the Company in getting its zeolite certified for use by
municipalities, organic growers and companies engaged in radiation
containment. The 43-101 paves the way for a 10,000 tonne bulk
sample and near term sales to local markets, such as organic
growers, vineyards, composting, animal waste treatment, livestock
poultry and swine producers. Sourcing Processing Mill For several
months Canadian Mining has been sourcing an appropriate mill to
process its zeolite, which will allow the Company to command market
prices from customers who have very specific requirements.
Processed zeolite is used in applications such as radiation
containment and concrete infrastructure applications. The Company
is pleased to report a mill has been sourced and it is currently
being evaluated by the Company's qualified person, following a
recent on-site inspection. Predicated on securing financing, the
Company is targeting to have the mill operational in early 2013.
Clinoptilolite Zeolite for Radiation Clean-up Clinoptilolite
Zeolite, the same zeolite contained in the Canadian Mining
Company's zeolite deposits has been used to clean up after many
major radioactive disasters around the world including the Three
Mile Island meltdown in Pennsylvania in 1979 and Chernobyl in 1986
where over 500,000 tonnes of Clinoptilolite Zeolite was dropped by
helicopter on the plant site in the Ukraine as well as being
introduced into the feed of dairy cows in the region to remove
cesium-137 from the milk they produced. In a news release dated
July 3, 2012, the Company reported that it was approached by
Hiroyuki Kunitake, Trade Commissioner, Investment, Energy and
Resources in the Embassy of Canada in Tokyo, Japan to provide
samples of its Clinoptilolite Zeolite for possible radiation
remediation application for the Fukushima Daiichi Nuclear Power
Plant disaster. Further communication with the Trade Commissioner
in the last 30 days, has revealed an expression of interest, from a
Japanese purchaser for the Company's zeolite subject to Canadian
Mining's zeolite meeting certain specifications. Tests will be
conducted following the September 2012 harvest of rice fields
treated with 70,000 tonnes of zeolite. If the result is
favorable, zeolite will be put in another area of 70,000 hectares
for which more than 50,000 tonnes of zeolite will be required in
the spring of 2013. As previously reported the Company forwarded
samples at the request of a different potential customer who tested
the samples in Japan and reported the results exceeded
expectations. Financing During the past several months the
Company has been exploring several financing options including
equity, convertible debenture and asset-secured debt financings. In
addition, the company has been actively seeking a buyer for its
Sonora, Mexico silver property, and is currently is in discussions
with interested parties. On behalf of the Board Ray Paquette CEO
604.684.3301 Please see our web site for additional details:
www.canadianmining.ca Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. Canadian Mining Company
Inc. CONTACT: Ray Paquette CEO604.684.3301
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