Oceanic Commences Process and Product Optimization Study to Confirm High Quality Iron Product Range
January 31 2013 - 7:28AM
Marketwired Canada
Oceanic Iron Ore Corp. ("Oceanic", or the "Company") (TSX
VENTURE:FEO)(OTCQX:FEOVF) announces that it has commissioned a process and
product optimization study (the "Study") which will enable the Company to
determine the potential range of sinter feed and pellet feed product quantities
and qualities that can be produced from the Hopes Advance project.
The Study is being undertaken to further enhance the Company's understanding of
the full range of process and product capabilities for the Hopes Advance
project, helping to ensure a broad base for future off-take product agreements,
including the maximization of potential premiums and the optimization of the
Company's targeting of potential future end user markets and potential
development partners.
The Study will be led by Met-Chem, who led the process flow sheet design in
respect of the Company's pre-feasibility study, and will be supported by SGS
Mineral Services Lakefield for the required laboratory testwork.
Alan Gorman, President/ COO indicated: "We anticipate that evidencing our
ability to produce a high quality sinter product in addition to the demonstrated
characteristics of our high quality pellet concentrates, will broaden the market
demand for the product globally.
This testing is also an important component of the feasibility stage development
of the Hopes Advance project and we believe the results will reinforce our view
that products to be produced will be highly desired by the market."
As previously reported, during the 2011 field season the Company collected two
bulk samples, including a 250 tonne bulk sample from principal deposits of the
Hopes Advance project area. The pilot plant program determined that, based on
particle size distribution before optimization, the Hopes Advance ores are
capable of concentration to produce high quality sinter feed and pellet feed.
The Company's pre-feasibility study defined a process flow sheet that resulted
in the production of a high grade pellet feed product. The Study will determine
the optimal process and product specifications and product quantities for both
the sinter feed and pellet feed products.
The Study will also examine the specific chemistries of both products, and will
examine the range of product combinations that might be available with minor
revisions to the Hopes Advance process flow sheet. This will help the Company
identify opportunities to facilitate the segregation of coarser product as well
as identify the scope for modifications to downstream material handling and
storage equipment and facilities.
The Company anticipates that the Study, together with the pot grate laboratory
testwork, commenced in 2012, which supports the transformation of concentrate to
pellets and confirms the technical specifications and product quality, will be
concluded during the second quarter of 2013 allowing any required changes to the
process flowsheet to be incorporated into the feasibility study results.
Oceanic's Hopes Advance concentrate is a clean high grade concentrate. Hopes
Advance ore has a low bond work index of 5.3 kWh/t and a high gravity recovery
process response with 85% of the iron ore concentrate being produced by low cost
spiral gravity separation, and the remaining 15% being produced by low intensity
magnetic separation. The product will average 66.6% Fe, less than 4.5% Si, and
very low values on all other trace elements, as highlighted in the table below.
Table 1 - Product Chemistry (Castle Mountain Deposit, Hopes Advance Project)
------------------------------------------------------------------
Fe SiO2 Mg0 Ca0 AI203 Na K
------------------------------------------------------------------
66.6% 4.5% 0.1% 0.4% less than less than less than
0.01% 0.01% 0.01%
------------------------------------------------------------------
------------------------------------------------------------------
Mn Ti Cr V P S
------------------------------------------------------------------
0.22% less than less than less than less than 0.03%
0.01% 0.01% 0.01% 0.01%
------------------------------------------------------------------
OCEANIC IRON ORE CORP. (www. oceanicironore.com)
On behalf of the Board of Directors
Steven Dean, Chairman and Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
Oceanic Iron Ore Corp.
Alan Gorman
President and COO
+1 514 289 1183
514 289 1188 (FAX)
Oceanic Iron Ore Corp.
Stephen Roberts
Vice President - Investor Relations
+1 604 609 6130
sr@oceanicironore.com
Oceanic Iron Ore Corp.
Steven Dean
Chairman and Chief Executive Officer
+1 604 566 9080
604 566 9081 (FAX)
Oceanic Iron Ore (TSXV:FEO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Oceanic Iron Ore (TSXV:FEO)
Historical Stock Chart
From Jul 2023 to Jul 2024
