Imperial Mining Group Ltd. ("Imperial")
(TSX VENTURE: IPG; OTCQB: IMPNF
) is pleased to
provide investors with a corporate update and provide plans for the
Crater Lake project throughout 2022.
CRATER LAKE PEA – DELAY OF
Work on a 43-101 Preliminary Economic Assessment
(PEA) on the TG Zone scandium-rare earth zone resource (see
Imperial Mining Press Release - SEP 23, 2021, Table 1) has
progressed. Delays are anticipated to address certain challenges
arising from various tradeoff studies aimed at assessing the
project CAPEX, OPEX and, ultimately, producing the optimal
operational and financial model for the project.
Table 1 - 43-101 COMPLIANT RESOURCE
Cut-off NSR ($/t)
NSR total ($/t)
STRATEGIC METALS MARKETING
Imperial marketing staff have been advancing
numerous R&D initiative with corporate and university partners
to develop new, innovative scandium-modified aluminum alloys (AlSc)
for use in manufactured application in the automotive, aerospace,
off-shore wind power and defense industries. As a testament of it’s
efforts, Imperial has recently been awarded a total of $3.0 million
in program funding and R&D grants from Canadian and Quebec
provincial government entities in support of this effort.
Research emphasis has been applied towards EV
and Hybrid automobile battery boxes, automotive and aerospace
structural elements, AlSc use in traditional heat exchangers, as
electric wire to replace copper in electric traction motors,
off-shore wind turbine blades and nacelles and for AlSc powder use
for 3-D printed parts. The work currently being undertaken with
partner Eck Industries (see Imperial Mining Press Release - SEP 28,
2021) is central to this effort. Imperial’s work with Eck in
developing new, innovative scandium-aluminum alloys is the
beginning of creating a critical value-added supply chain for
scandium (Sc). The end users, who issue the material off-take
contracts, are the automotive, aerospace, off-shore wind turbine
and defense manufacturers.
In addition, Imperial has been researching the
market potential of scandium oxide input Solid Oxide Fuel Cells
(SOFCs), currently patented by Bloom Energy
(https://www.bloomenergy.com/). This market is poised to show
significant growth due to the shift towards Carbon Neutral
alternative energy platforms. As Bloom Energy’s patent expires
soon, other potential manufacturers may consider expanding the
market especially given that the Crater Lake development will
provide geopolitically stable source of Sc for this
The objective of our marketing efforts is to
secure one or several off-take agreements for our scandium with
strategic partners prior to completing more advanced studies on
Crater Lake mineralization.
EXPLORATION AND DEVELOPMENT
A definition diamond drill program on the TG
Zone (Northern Lobe and Southern Lobe) will commence in late June
with the objective of completing up to 22 diamond drillholes for
approximately 2,500 m. A drill hole spacing pattern of 50 m will be
completed with the objective of converting the previously Inferred
Resource into the Indicated Resource category. This revised
resource will allow Imperial to move forward with a Pre-Feasibility
(PFS) or Feasibility (FS) Study. In addition, there is excellent
potential to expand the mineral resources with further drilling on
the Southern Lobe where a previous drillhole intersected
113.9 m grading 310 g/t
(see Imperial Mining Press Release - JUN 18, 2019).
The exploration drilling will include surface
evaluation of high-priority scandium-rare-earth exploration targets
outside of the drilled TG mineralized Deposit. The targets were
identified during evaluation of Imperial's Winter and Summer drill
program results as well as prior geophysical and mapping survey
results over the property.
Drilling will also occur North of the Crater
Lake Complex where grab and channels samples returned up to
9.28% niobium oxide (Nb2O5), 13.4% zirconium (Zr), 2.4% total rare
earths oxides plus yttrium (TREO+Y) and 3,020 ppm tantalum
(Ta). This area coincides with extensive TREO+Y, Nb and Ta
till geochemical and radiometric anomalies over the area of the
During Summer 2021, Imperial collected a
50-tonnes bulk sample from the known surface scandium
mineralization at the STG Zone for use in a pilot plant study.
During Fall 2021, up to 18-tonnes was shipped to Sept-Iles, QC. It
is expected that the remaining 32-tonnes will be shipped to
Sept-Iles, QC by the end of July 2022. This material will be used
in a pilot plant study to further test and optimize Imperial's
patent-pending metallurgical process method.
In late Fall 2022, the new drillhole data from
the summer program will be forwarded to a consultant to revise and
update the previous 43-101 Resource Estimate of the TG Zone. The
mineral resource update will convert all currently known inferred
mineral resources to the indicated mineral resource category. It is
also expected that further Inferred Mineral Resources will have
been added at the Southern Lobe of the TG Zone deposit area.
METALLURGICAL PROCESS DEVELOPMENT
IPG has commissioned a hydrometallurgical
flowsheet development program based on its patent-pending (US
Patent and Trademark Office provisional application #63/265,176)
two-stage hydrometallurgical method for the extraction of scandium
and rare earth elements with SGS Canada. The program, which started
on January 31, 2022, is partially financed from a $245,355 grant
from the Quebec Ministry of Energy and Natural Resources (see
Imperial Mining Press Release - FEB 8, 2022).
The flowsheet development program is focused on
the following key objectives:
optimization of the mineral processing flowsheet by rejecting
olivine, a non- scandium/REE-bearing mineral.
- Bulk processing
of olivine-depleted Sc/REE mineral concentrate through the
patent-pending high-pressure hydrometallurgical process to generate
sufficient primary leach solution (PLS), to optimize the scandium /
REE recovery circuits of the flowsheet.
The optimization work is intended to improve the
scandium recovery, lower mine operating costs and reduce carbon
footprint of Imperial’s metallurgical process. The optimization
study that commenced on January 31st is being undertaken by SGS
Canada with expected completion at the end of Q3 2022. Results from
the work will aid in the engineering design of Imperial’s pilot
program for the Crater Lake project for later in 2022.
The technical content in this press release was
reviewed and certified by Dr. Yemi Oyediran, an Ontario-registered
P. Eng., Manager of Metallurgical Development and Pierre Guay,
P.Geo., Vice-President, Exploration.
ABOUT IMPERIAL MINING GROUP
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.
For further information please
|Peter J. CashinPresident and
Chief Executive OfficerPhone: +1 (514)
Facebook: Imperial Mining
This press release may contain forward-looking
statements relating to the Company’s operations or to its business
environment. Such statements are based on the Company’s operations,
estimates, forecasts, and projections, but are not guarantees of
future performance and involve risks and uncertainties that are
difficult to predict or control. Several factors could cause actual
outcomes and results to differ materially from those expressed.
These factors include those set forth in the corporate filings.
Although any such forward-looking statements are based upon what
management believes to be reasonable assumptions, the Company
cannot guarantee that actual results will be consistent with these
forward-looking statements. In addition, the Company disclaims any
intention or obligation to update or revise any forward-looking
statements, for any reason. We also do not commit in any way to
guarantee that we will continue reporting on items or issues that
arise. Investors are cautioned that this press release
contains quoted historical exploration results. These are derived
from filed assessment reports and compiled from governmental
databases. The Company and a QP have not independently verified and
make no representations as to the accuracy of historical
exploration results: these results should not be relied upon.
Selected highlight results may not be indicative of average grades.
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
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