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Bullboard - Stock Discussion Forum PhosCan Chemical Corp PCCLF

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Post by specboy2011 on Mar 08, 2013 10:39am

NEWS

 

Phoscan Chemical tests 50% Nb2O5 at Martison

2013-03-08 10:38 ET - News Release
Shares issued 166,139,936
FOS Close 2013-03-07 C$ 0.265

 

Mr. Stephen Case reports

PHOSCAN CHEMICAL PROVIDES UPDATE FOR MARTISON PHOSPHATE PROJECT

PhosCan Chemical Corp. has provided an update of activities at the Martison phosphate project.

Overview

As described in the company's previous press releases, both niobium and rare earth mineralization are associated with the main phosphate component of the Martison deposit, and offer byproduct possibilities. The niobium and rare earths are contained in two distinct materials: an iron oxide laterite cap overlying the main phosphate zone called residuum and flotation tailings or waste streams remaining after phosphate is recovered from the residuum. PhosCan has conducted most of its work during 2012 on niobium occurring in the flotation tailings. It carried out extensive metallurgical studies to verify previous work and to determine if niobium can be profitably recovered from the tailings. The Company also completed 15 holes totalling 1,947 metres of sonic drilling during the winter of 2011-2012. This drilling recovered 13 tonnes of material representing the phosphate zone targeted for open pit mining, for further metallurgical studies on a larger scale. During the course of the sonic drilling an independent program of test drilling and pumping tests, coupled with down-the-hole seismic surveys, was completed to evaluate the hydrogeology of the proposed open pit area. This work allowed an assessment to be made of pumping and other requirements necessary to contain the inflow of water into the pit and the estimated operating and capital costs thereof.

Metallurgical Studies of Flotation Tailings

The purpose of the program was to develop a beneficiation flowsheet to recover niobium bearing minerals from the waste streams produced by the phosphate recovery process, and to concentrate them into a product of sufficient purity to permit the production of ferro-niobium, a valuable steel additive. The beneficiation program, conducted during the period of March 2011 - December 2012, was carried out using the laboratory facilities of SGS Mineral Services, Vancouver, BC and was later transferred to Eriez Flotation Division, Erie, PA.

Optimization of the niobium recovery methodology proved very challenging and resulted in a process that incorporated a dual reagent scheme with a magnetic separation step mid process. This approach resulted in a final concentrate that assayed 50% Nb2O5 with a recovery of 21% based on the head-sample (or run-of-mine) values. Further work will aim to recover additional niobium in minerals lost in all waste streams created during the processing of run-of-mine material into phosphate and niobium concentrates. Recently completed high-precision mineralogical studies of these several waste streams have identified two which with further treatment may increase niobium recoveries.

Even at the modest niobium recovery obtained so far, preliminary internal add-on capital and operating cost analyses are sufficiently encouraging to justify more work to validate niobium as a viable by-product.

Harold Wyslouzil, P. Eng, is the qualified person responsible for the supervision of the technical information in this news release.

We seek Safe Harbor.

Comment by specboy2011 on Mar 08, 2013 10:51am
Nice to get that news out and into the market.Pretty much a given on that it would need more work.But shows a great percentage of a NB byproduct......Move on now Case and get us something to create shareholder value
Comment by Rainman on Mar 08, 2013 12:12pm
No good news goes unpunished in the junior sector these days.
Comment by specboy2011 on Mar 08, 2013 6:54pm
Rainman..fwiw news on the Martison project unless it gets sold never will move the stock imo...Yes this NB testing derisks the project to a point but thats all...We need a new deal worthy of speculators coming back in or we need a special divi of cash and spinout company with project in it.That way no big bonus to Case he caqn run the company we get our cash..Lets say 31 cents and shares in new ...more  
Comment by Rainman on Mar 08, 2013 8:01pm
Couldn't agree more. I  know all of the resource juniors have been hammered in the last 18 months, but that doesn't excuse getting thirty-six cents valued at twent-six. Acquire something, sell something, pay a dividend, I don't care - but just do SOMETHING.
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