RENO, NV / ACCESSWIRE / September 10, 2020 / Scandium International Mining Corp. (TSX:SCY) ("Scandium International" or the "Company") has received a Final Determination letter from the Deputy Secretary, Department of Regional NSW, Division of Mining, Exploration and Geoscience (‘the Department'), relating to an objection affecting the Company's Nyngan Scandium project, The findings of this Final Determination by the Department are favorable to the Company, and confirm the proposed Department findings previously advised in April. This Final Determination resolves the outstanding objection, filed by a landowner in 2016, that affected a Mining Lease subsequently granted to the Nyngan Project in 2017. The Department findings and ruling will again allow all measured and indicated resource included in the Nyngan Scandium Project Definitive Feasibility Study ("DFS") to be reinstated in a Mining Lease grant.
- NSW Government decides 5-year dispute with landowner in favor of mining.
- Findings remove objections from most of the Nyngan Project disputed area.
- Areas where objections were sustained do not coincide with established resource.
- The final Determination will allow all of the measured and indicated resource included in the DFS to be reinstated in a Mining Lease grant.
The Department granted a Mining Lease (‘ML 1763') to SCY's Australian subsidiary, EMC Metals Australia Pty Ltd., in 2017. At that time, it was unknown, to both the Department and SCY, that a local landowner had filed a prior, timely, and valid objection to the granting of that Lease. This confusion of timing resulted in the Department coming under considerable scrutiny for both its handling of the matter, and subsequently arriving at a final decision on the validity of the landowner's objection.
Written advice from the Department to the Company now makes clear that all required independent investigative processes, and all affected party comment periods, are now completed, and the Department's decision is final. There are further State Courts of Appeal available to the landowner, but the facts supporting this final decision are confirmed by the NSW Department of Primary Industry and follow governing Law. We believe the NSW Government will defend its decisions in any court of appeals to which it would be summoned.
For a more detailed review of timelines and specific events related to this matter, please refer to the Company's previous news release on this matter, issued April 21, 2020.
The Nyngan Scandium Project currently holds a Mining Lease ("ML 1792") over land owned directly by the Company, which excludes surface and resource that was affected by the objection. This issued Mining Lease includes sufficient resource to build and operate a 20 year mine operation similar to the project defined in our DFS. With this Final Determination issued by the governing agency in NSW, the Company is now free to re-establish a Mining Lease over the entire 16.9M tonnes of resource defined in the 2016 DFS.
George Putnam, CEO of Scandium International Mining Corp. commented:
"The repair to the foundations of our original Mining Lease, giving access to our full scandium resource, has proven to be a lengthy process for both shareholders and management. We believe the Nyngan Project, now more than ever, is in position to be the world's first primary scandium mine. This decision by the NSW governing agencies reinstates our design work and our blue-sky expansion potential for the project. The project will have virtually zero impact on our agricultural neighbors, will be supporting to the surrounding community, and ultimately come to benefit both NSW and Australia as recognized supporters of projects delivering critical metals to global customers."
ABOUT SCANDIUM INTERNATIONAL MINING CORP.
The Company is focused on developing its Nyngan Scandium Project, located in NSW, Australia, into the world's first scandium-only producing mine. The Company filed a NI 43-101 technical report in May 2016, titled "Feasibility Study - Nyngan Scandium Project". The project has received all key approvals, including a development consent and a mining lease, necessary to proceed with project construction.
The company is also currently soliciting mining company interest in a critical metals recovery project, using ion-exchange technology to extract and recover cobalt, nickel, scandium and other metals from copper raffinate streams. This program represents a fast-track concept to make sulfate battery metals, scandium master-alloy product, and other specialty metals, initially from jurisdictions in the Americas.
Willem Duyvesteyn, MSc, AIME, CIM, a Director and CTO of the Company, is a qualified person for the purposes of NI 43-101 and has reviewed and approved the technical content of this press release on behalf of the Company.
For inquiries to Scandium International Mining Corp, please contact:
Edward Dickinson (CFO)
Tel: (775) 233-7328
George Putnam (CEO)
Tel: (925) 208-1775
Email: [email protected]
This press release contains forward-looking statements about the Company and its business. Forward looking statements are statements that are not historical facts and include, but are not limited to statements regarding any future development of the project. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause the Company's actual results or achievements to differ materially from those expressed in or implied by forward looking statements. These risks, uncertainties and other factors include, without limitation: risks related to uncertainty in the demand for scandium, the possibility that results of test work will not fulfill expectations, or not realize the perceived market utilization and potential of scandium sources that may be developed for sale by the Company. Forward-looking statements are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and other than as required by applicable securities laws, the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change.
SOURCE: Scandium International Mining Corp