Nautilus confirms successful trial of new spider-inspired samplers
May 24 2018 - 6:00AM
Nautilus Minerals Inc. (TSX:NUS) (OTC:NUSMF)
(Nasdaq Intl Designation) (the
"
Company" or "
Nautilus")
announces that it has successfully completed the first trial of its
newly developed autonomous sediment sampler. The insect-inspired
creation is dubbed the “Nautilus Jumping Spider” and resembling its
animal namesake, it sports a number of “tubular” legs. On landing
on the seafloor, a mechanical trigger starts the suction system
that delivers sediment up the tubular legs and into the sample
housing. Following the release of a biodegradable sacrificial
ballast weight, a deep-sea float lifts the sampler back to surface
for later collection.
The spider-inspired samplers have been developed
to allow the exploration team to significantly increase sediment
collection efficiencies from the seafloor while decreasing costs,
potentially by an order of magnitude. The Company plans to
test its extensive land positions in both Papua New Guinea and
Tonga, (which total an area larger than the land area of the United
Kingdom), in the later part of 2018, subject to financing.
Mike Johnston, Nautilus’ CEO, commented, “The
innovation of the Exploration team in developing this simple yet
very user friendly sediment sampler must be commended. Over the
years, Nautilus and its technology partners have developed a number
of low cost tools, to assist with its exploration and development
efforts (ROV drills, self potential and electromagnetic subsea
geophysical systems, and various water column and seafloor
geochemical sampling systems). Development of the new autonomous
sampling tools continues to demonstrate the Company’s commitment to
industry leading innovation. Along with other exploration
techniques, including seabed drilling, the team is looking to build
a pipeline of projects and resources to feed our mobile mining
system currently under construction.”
About the Nautilus Jumping
Spider
Nautilus has previously demonstrated the
effectiveness of low cost grid sediment sampling in the highly
sedimented East Manus Basin (Papua New Guinea). The challenge was
to extend this technique to rocky low sedimented areas, with a
further reduction in cost to allow for even more extensive sampling
programs. This now appears possible with the development of the
“Nautilus Jumping Spider”.
This first generation autonomous sampler has
been exclusively developed by Nautilus (figure 1). It is both light
weight and low cost in design. The sampler is designed to land on
rough terrains, with a high degree of sampling efficiency.
The system was designed and largely built
“in-house”. Other notable design features include a radio
transponder ported into the float to aid locating and surface
recovery; a galvanic fail safe release; use of industry standard
(certified) sample sieves; self-priming design of the suction and
sample system and use of biodegradable sacrificial ballast
weights.
Links
http://www.nautilusminerals.com//irm/media/96/Nautilus%20Spider%20Jumper%20final.low%20res.jpg
For more information please refer to
www.nautilusminerals.com or contact:
Investor Relations Nautilus Minerals Inc.
(Toronto) Email: investor@nautilusminerals.com Tel: +1 416 551
1100
The TSX does not accept responsibility
for the adequacy or accuracy of this press release.
Certain of the statements made in this news
release may contain forward-looking information within the meaning
of applicable securities laws, including statements with respect to
the Company's funding requirements, the development of the Solwara
1 Project and the operation of the Company's exploration tools. We
have made numerous assumptions about such statements, including
assumptions relating to the Company’s funding requirements, project
funding, and completion and operation of the Company's seafloor
production system and exploration tools. Even though our management
believes the assumptions made and the expectations represented by
such statements are reasonable, there can be no assurance that they
will prove to be accurate. Forward-looking information by its
nature involves known and unknown risks, uncertainties and other
factors which may cause the actual results to be materially
different from any future results expressed or implied by such
forward-looking information. Please refer to our most recently
filed Annual Information Form in respect of material assumptions
and risks related to the prospects of extracting minerals from the
seafloor and other risks relating to the Company's business and
plans for development of the Solwara 1 Project. Risks related to
continuing the Company's operations and advancing the development
of the Solwara 1 Project include the risk that the Company will be
unable to obtain at all or on acceptable terms, and within the
timeframes required, the remaining financings necessary to fund
completion of the build, testing and deployment of the Company's
seafloor production system; that the Company will be unable to
rectify or arrange for the rectification of the default under the
shipbuilding contract for the construction of the production
support vessel; that agreements with third party contractors for
building slots within certain timeframes are not secured as
required; and the risk that the Company's seafloor equipment and
exploration tools, including the "Nautilus Jumping Spider", will
not operate as expected. As the Company has not completed a
prefeasibility study or feasibility study in respect of the Solwara
1 Project, there can be no assurance that the Company's production
plans will, if fully funded and implemented, successfully
demonstrate that seafloor resource production is commercially
viable. Except as required by law, we do not expect to update
forward-looking statements and information as conditions change and
you are referred to the full discussion of the Company's
business.
About Nautilus Minerals
Inc.
Nautilus is the first company to explore the
ocean floor for polymetallic seafloor massive sulphide deposits.
Nautilus was granted the first mining lease for such deposits at
the prospect known as Solwara 1, in the territorial waters of Papua
New Guinea, where it is aiming to produce copper, gold and silver.
The Company has also been granted its environmental permit for this
site. Nautilus also holds highly prospective exploration acreage in
the western Pacific (granted and under application), as well as in
international waters in the Central Pacific. A Canadian registered
company, Nautilus is listed on the TSX:NUS stock exchange and is
also a member of the Nasdaq International Designation program. Its
corporate office is in Brisbane, Australia. Its major shareholders
include MB Holding Company LLC, an Oman based group with interests
in mining, oil & gas, which holds a 30.4% interest and
Metalloinvest, the largest iron ore producer in Europe and the CIS,
which has a 19.2% holding (each on a non-diluted basis, excluding
loan shares outstanding under the Company’s share loan plan).