VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / July 21, 2014 / Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (the "Company") today announced that it has received the final designs for the pilot reduction furnace from Silvertip Design NW for the Company's Tami-Mosi Magnesium Project.
Based on the design, the furnace will be capable of producing up to one kilogram of magnesium by the reduction of dolime with ferrosilicon. A test program using this furnace will provide direct assessment of the performance of the dolomite and ferrosilicon intended as raw materials in the final operation; magnesium metal for assessment by potential users; dicalcium silicate (a waste stream) for assessment as a co-product; and residual ferrosilicon for assessment as a co-product or as a recycle material for lower cost production of 75% ferrosilicon feed for the magnesium reduction furnace. Process control parameters defined by the operation of this bench scale furnace will be used in the design of the pilot plant and in preparation of bankable documentation required for funding development of the full plant.
The Company is currently awaiting quotes for the fabrication of the furnace and sourcing is underway to identify adequate locations to conduct the testing.
About Nevada Clean Magnesium, Inc.
Nevada Clean Magnesium is focused on becoming a major U.S. producer and distributor of primary, high grade, low cost magnesium extracted from its 100% owned Tami-Mosi property located in North Central Nevada. Based on the Company's NI 43-101 Preliminary Economic Assessment Report published in late 2011 and amended July 04, 2014, the Tami-Mosi Project has an inferred resource of 412 million tonnes with an average grade of 12.3% Mg for a contained metal content of 111 billion pounds of magnesium using a 12% cut-off grade contained within a high purity dolomite block. For more information, please visit www.nevadacmi.com.
This news release was reviewed by James Sever, P. Eng. a qualified person recognized under NI 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, including, among others, the accuracy of mineral grades and related assumptions, inherent operating risks, planned expenditures, proposed exploration and development at the Tami-Mosi Magnesium Project, and operating and economic aspects of the Tami-Mosi Magnesium Project. The Company undertakes no obligation to update forward-looking information if circumstances or managements estimates or opinions should change, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. More detailed information about potential factors that could affect projected results is included in the documents filed from time to time with the Canadian Securities Regulatory Authorities by the Company.
This news release includes disclosure of scientific and technical information, as well as information in relation to the calculation of mineral resources and reserves, with respect to the Tami-Mosi Magnesium Project. The Company's disclosure of mineral resource and reserve information is governed by National Instrument 43-101 - Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as may be amended from time to time by the CIM. There can be no assurance that mineral resources will ultimately be converted into mineral reserves. Mineral resources are not mineral reserves and do not have demonstrated economic viability. This news release uses the terms "measured", "indicated" and "inferred" resources. U.S. persons are advised that while such terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. "Inferred Resources" have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred resources may not form the basis of feasibility or other economic studies. U.S. persons are cautioned not to assume that all or any part of measured or indicated resources will ever be converted into reserves. U.S. persons are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.
CONTACT INFORMATION:
Hanover Elite
Kathy Addison, Chief Operating Officer
Phone: 407-585-1080
Email: [email protected]
SOURCE: Nevada Clean Magnesium, Inc.