Imperial Mining Awarded $245,355 from the Quebec Government to Optimize its Crater Lake Scandium Recovery Process
February 08 2022 - 7:30AM
Imperial Mining Group Ltd. ("Imperial")
(
TSX VENTURE: IPG; OTCQB: IMPNF) is pleased to
announce that it has been awarded a $245,355 grant from the Quebec
Ministry of Energy and Natural Resources to undertake optimization
work on its patent-pending (US Patent and Trademark Office
provisional application #63/265,176) metallurgical process for
Crater Lake scandium-rare earth mineralization.
“We are grateful to the Government of Quebec and
the Ministry of Energy and Natural Resources for acknowledging
Imperial's vision of developing a strong scandium and rare earth
industry as supporting the Quebec Government’s Green Economy Plan,
2030," said Peter J. Cashin, President and Chief Executive Officer
of Imperial Mining Group. “The optimization work is intended to
improve the scandium recovery, lower mine operating costs and
reduce carbon footprint of Imperial’s metallurgical process. This
award is a key step in Imperial’s long-term strategic goal of
becoming the premier global supplier of scandium.”
The grant is related to a four-year,
$4.25-million financial support program announced by the Quebec
Ministry of Energy and Natural Resources in September 2021. The
program is intended to support companies in the field of mining
exploration for the identification, exploration and development of
high-potential critical and strategic mineral (CSM) projects in
Quebec. Titled the Mining Exploration Support Program for
Critical and Strategic Minerals, 2021-2024, the program
provides financial assistance to mining exploration companies to
advance the development of their CSM deposits in the Province.
The objectives of the Program are:
- To stimulate exploration activity
for CSMs;
- Advance quality CSMs projects
towards more advanced stages of the mineral development
process;
- Assess the quality of potential
minerals through optimized geometallurgy and geoenvironment
work;
- Invest in geometallurgical and
geoenvironmental technological development work to develop
CSMs.
The optimization study is being undertaken by
SGS Canada in their test lab in Ste-Foy, Quebec, and commenced on
January 31st, with expected completion at the end of Q3 2022.
Results from the work will aid in the engineering design of
Imperial’s pilot plant for the Crater Lake project.
This award compliments an earlier grant received
from Investissement Quebec and Innovation and Development
Manicouagan (see Imperial Press Release: December 20, 2021) to
support a scandium market study. This study will assess the
benefits of establishing a North American supply of scandium and
scandium-aluminum alloy products. The study will also look at the
industrial and technological development impacts on the Baie-Comeau
region, in general, and the Quebec aluminum industry, in
particular.
In a separate news, Imperial wishes to announce
that Martin Nicoletti, Imperial’s Chief Financial Officer since the
corporation’s founding in 2018, has submitted his resignation,
effective immediately. He will be replaced by Mr. Patrick Masumpa,
Imperial’s Comptroller since 2021.
“The Board of Directors and myself wish to
express our gratitude for Martin’s expertise in competently
managing Imperial’s finances and supporting me in building Imperial
Mining to become one of North America’s leading explorers and
developers of critical mineral resources, particularly scandium,”
said Peter Cashin, Imperial’s President & Chief Executive
Officer. “I am pleased that Martin will continue to support
Imperial’s growth as an advisor to the Corporation. We want to
thank him for his important contribution to the Corporation and its
shareholders and wish him much success with all of his future
endeavors.”
ABOUT IMPERIAL MINING GROUP
LTD.
Imperial is a Canadian mineral exploration and
development company focused on the advancement of its technology
metals projects in Québec. Imperial is publicly listed on the TSX
Venture Exchange as “IPG” and on the OTCQB Exchange as “IMPNF” and
is led by an experienced team of mineral exploration and
development professionals with a strong track record of mineral
deposit discovery in numerous metal commodities.
Peter J. CashinPresident and
Chief Executive OfficerPhone: +1 (514)
360-0571Email: info@imperialmgp.com |
CHF Capital Markets Cathy Hume, Chief Executive Officer
Phone: +1 (416) 868-1079 x251
Email: cathy@chfir.com |
For further information please
contact:
Website:
www.imperialmgp.com
Twitter:
@imperial_mining
Facebook: Imperial Mining Group
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.
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