HUDSON RESOURCES INC. (“
Hudson” or the
“
Company”) (TSX Venture Exchange “HUD”; OTC
“HUDRF”) is pleased to provide initial sampling results on the
Company’s 100% held Gronne Bjerg (Green Mountain) anorthosite
project (“Project”) in Greenland. The Company has also commenced
testwork to produce a green alumina for the aluminum industry.
Hudson is continuing to support Neo North Star Resources Inc. in
its development of the Sarfartoq REE project where the Company has
an interest (see NR2023-01).
The Gronne Bjerg project, which was staked by
Hudson in 2021 (see Hudson MD&A November 29, 2021), is
approximately 80 km from Nuuk, the capital of Greenland, and
favourably located on open tidewater. Hudson first sampled the
Gronne Bjerg project in 2012 as part of a regional sampling program
to identify the highest quality anorthosite targets in Greenland.
This initial high-level sampling provided the best results of all
anorthosites sampled, however the area was not available for
staking at the time.
In the fall of 2022, Hudson conducted a
reconnaissance program at Gronne Bjerg which included the
collection of 29 samples from outcrop over an area of 3.9 square
kilometers. The samples were sent to ALS Laboratories in Canada for
analysis and the results demonstrated a high aluminum content, low
impurities, and excellent continuity over the area sampled. The
average analysis for key elements for all the samples are as
follows:
|
• |
Al2O3 (aluminum oxide): |
32.06% |
|
|
• |
SiO2 (silicon dioxide): |
47.24% |
|
|
• |
CaO (calcium oxide): |
14.98% |
|
|
• |
Na2O (sodium oxide): |
2.27% |
|
|
• |
Fe2O3 (iron oxide): |
1.15% |
|
Based on the high chemical quality of anorthosite sampled,
Hudson has initiated a testwork program at SGS Lakefield in Canada
to produce a green waste-free smelter grade alumina utilizing the
flowsheet developed by the Company from 2013 through 2015 (see
NR2013-07, NR2014-01, NR2014-05). This significant testwork
culminated in a robust Preliminary Economic Assessment (PEA) for
specialty alumina production (see NR2015-01). The PEA demonstrated
that a quality alumina product can be made while producing zero
tailings and only useful by-products, compared to bauxite which
produces almost four tonnes of caustic tailings per tonne of
aluminum.
The SGS testwork program will take approximately
four months to complete with the objective of producing green
alumina suitable as a feed material for aluminum producers.
Jim Cambon, President, commented “The initial
assay results from our 100% owned Gronne Bjerg anorthosite project
are exceptional and our strong treasury will allow us to advance a
testwork program to produce ‘green’ smelter grade alumina in the
coming months. Over the past decade we have gained significant
expertise in the evaluation, mining and product development of
anorthosite. With this knowledge and over 15 year’s experience
operating in Greenland we plan to rapidly advance the Gronne Bjerg
project. Hudson is focussed on anorthosite as the future for green
aluminum production. We also plan to commence a testwork program in
2023 to build on previous successful R&D to produce a CO2-free
white cement product. The 2023 field program at Gronne Bjerg will
include further definition of the anorthosite body and bulk
sampling to provide material for ongoing R&D work.”
The Company is in discussions with industrial
and technology groups to potentially partner on green alumina and
green cement projects. This aligns perfectly with Hudson’s core
values in the creation of green products that we believe will
attract ESG investors.
Green Aluminum
Hudson strongly believes that anorthosite is the
future for green aluminium production which will increasingly be
demanded by consumers. Global aluminum demand is expected to
increase by almost 40 per cent by 2030 (CRU Report, May 2022). A
recent World Bank report described aluminum as crucial for the
energy transition as the metal is critical to solar power panels
and electric vehicles. The amount of aluminum used in European cars
increased by 18% from 174kg in 2019 to 205kg in 2022 according to
automotive consultancy Ducker Carlisle (Mining.com May 2023). The
report predicts this trend will continue to increase to 256kg per
vehicle by 2030. China currently accounts for 58% of global output
of aluminum. Europe has traditionally relied on Russia for aluminum
supply.
CO2 Free Cement
In 2016/2017 Hudson completed successful
testwork to produce a CO2 free, heat resistant (refractory) and
acid resistant white cement (see NR2018-01). The work was carried
out at the University of British Columbia Ceramics and Refractories
Research and Testing Laboratory. Hudson plans to commence
additional testwork on cement application in 2023 and is in
discussions with a number of research facilities capable of
executing a testwork program.
Neo North Star Resources
Inc.
As recently announced (see NR2023-01), Hudson
has a potential 5% carried interest in the Sarfartoq REE project in
Greenland partnered with Neo North Star Resources Inc. (NNSR),
controlled by Neo Performance Materials. NNSR has commenced a
significant field program at Sarfartoq REE project for 2023.
White Mountain Anorthosite
Mine
Hudson has a 31% interest in the White Mountain
anorthosite mine in Greenland owned by Lumina Sustainable
Materials.
J.R. Goode, P. Eng., is a Qualified Person, as
defined by National Instrument 43-101, and reviewed the preparation
of the metallurgical and technical information in this press
release. Michael Druecker, P. Eng., is a Qualified Person, as
defined by National Instrument 43-101, and reviewed the preparation
of the geological and technical information in this press
release.
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim Cambon”
President and Director
For further information:Ph:
778-373-2164
Neither the 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.
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING INFORMATION: This news release includes certain
“forward-looking information” within the meaning of applicable
Canadian securities laws. Forward looking information includes, but
is not limited to, statements, projections and estimates with
respect to the Share Consolidation. Generally, forward-looking
information can be identified by the use of forward-looking
terminology such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”,
or variations of such words and phrases or state that certain
actions, events or results “may”, “could”, “would”, “might” or
“will be taken”, “occur” or “be achieved”. Such information is
based on information currently available to Hudson and Hudson
provides no assurance that actual results will meet management's
expectations. Forward-looking information by its very nature
involves inherent risks and uncertainties that may cause the actual
results, level of activity, performance, or achievements of Hudson
to be materially different from those expressed or implied by such
forward-looking information. Actual results relating to, among
other things, completion of the agreement, results of exploration,
project development, reclamation and capital costs of Hudson’s
mineral properties, and financial condition and prospects, could
differ materially from those currently anticipated in such
statements for many reasons such as: an inability to complete the
agreement on the terms as announced or at all; changes in general
economic conditions and conditions in the financial markets;
changes in demand and prices for minerals; litigation, legislative,
environmental and other judicial, regulatory, political and
competitive developments; technological and operational
difficulties encountered in connection with Hudson’s activities;
and other matters discussed in this news release and in filings
made with securities regulators. This list is not exhaustive of the
factors that may affect any of Hudson’s forward-looking statements.
These and other factors should be considered carefully and
accordingly, readers should not place undue reliance on
forward-looking information. Hudson does not undertake to update
any forward-looking information, except in accordance with
applicable securities laws.
Hudson Resources (TSXV:HUD)
Historical Stock Chart
From Oct 2024 to Nov 2024
Hudson Resources (TSXV:HUD)
Historical Stock Chart
From Nov 2023 to Nov 2024