TORONTO, Jan. 21, 2014 /CNW/ - Search Minerals Inc. ("Search" or the "Company") (TSXV: SMY) is pleased to announce that it will receive research and
development investments totalling C$225,000 from the Research &
Development Corporation ("RDC") and from the Atlantic Canada Opportunities Agency ("ACOA") to assist in the Development of Innovative Technologies for the Recovery and Refining of
Rare Earth Elements ("REE") from Ore Mined in Labrador (the "Project"). Search will receive C$112,500 towards the project from each of RDC
and ACOA, and the Company will contribute an additional C$75,000 in
working capital.
The Project will evaluate the effectiveness and compare the commercial
feasibility of a variety of innovative metallurgical processes to
separate and refine rare earth elements ("REE") from ore with the specific characteristics of that identified at the
Company's Foxtrot Project ("Foxtrot") in the Port Hope Simpson Rare Earth Element District in SE Labrador.
Search intends to maximize refining and processing in Labrador with
minimal environmental impact.
SGS Canada Inc. ("SGS") will be engaged to perform testing on ore samples containing REE
taken from the Company's Foxtrot Project located near Port Hope
Simpson, Labrador. SGS will examine innovative methods to isolate REE
from the specific matrix of ore. The current separation process
involves crushing and grinding of ore, followed by gravity separation,
flotation and magnetic separation to produce a concentrate containing
the REE materials. The concentrate is then subjected to acid baking at
200 degrees Celsius, water leaching, purification of the leachate, and
precipitation of REE oxalate. The process options to be investigated
with SGS Canada would be designed to reduce complexity and cost of REE
recovery from Foxtrot ores.
The estimated Project commencement date is January 2014, and the
estimated project completion date is June 2014.
Stephen Keith, President & Chief Executive Officer, stated "Search is
pleased to participate in this research and development initiative with
RDC and ACOA. Search's new corporate strategy centers on creating value
through finding and developing metal assets with strong, growing demand
and constrained or restricted supply, which includes REE. We believe
that this Project will underline the attributes of the Foxtrot Project,
and we look forward to developing this Project in Labrador."
About Search Minerals:
Search Minerals Inc. (TSXV: SMY) is a TSX Venture Exchange listed
company focused on creating value through finding and developing
mineral assets with growing demand and constrained or restricted
supply, and with increasing use in innovative technologies. The Company
is actively pursuing opportunities and partnerships in critical metals,
including, but not limited to, tin, tungsten, dysprosium and neodymium,
prioritizing projects that can be partnered, funded and developed in a
relatively short period of time, in strategic, friendly jurisdictions.
Search is the discoverer of the Port Hope Simpson REE District, a highly
prospective light and heavy REE belt located in southeast Labrador,
where the Company controls a dominant land position in a belt 135 km
long and up to 12 km wide. In addition, Search holds a number of
additional mineral prospects in Newfoundland and Labrador in its
portfolio, including claims in the Strange Lake Complex (where Quest
Rare Minerals has a Joint Venture with Search); and at the Red Wine
Complex (where Great Western Minerals Group has a Joint Venture with
Search).
All material information on the Company may be found on its website at www.searchminerals.ca and on SEDAR at sedar.com.
About the Atlantic Canada Opportunities Agency:
The Atlantic Canada Opportunities Agency (ACOA) works to create
opportunities for economic growth in Atlantic Canada by helping
businesses become more competitive, innovative and productive, by
working with diverse communities to develop and diversify local
economies, and by championing the strengths of Atlantic Canada.
Together, with Atlantic Canadians, ACOA is building a stronger economy.
About the Research & Development Corporation, Newfoundland & Labrador:
The Research & Development Corporation (RDC) provides leadership,
strategic focus and investments in order to drive research and
development for the long term economic benefit of Newfoundland and
Labrador. RDC's directed research investment programs are designed to
accelerate R&D in priority areas by supporting innovation, problem
solving, capacity building and collaboration.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility of the adequacy or accuracy of this
release.
Cautionary Statement:
This news release contains forward-looking statements that are not
historical facts. Forward-looking statements involve risks,
uncertainties, and other factors that could cause actual results,
performance, prospects, and opportunities to differ materially from
those expressed or implied by such forward-looking statements. Factors
that could cause actual results to differ materially from these
forward-looking statements include those risks set out in Search's
public documents filed on SEDAR at www.sedar.com. Although Search believes that the assumptions and factors used in
preparing the forward-looking statements are reasonable, undue reliance
should not be placed on these statements, which only apply as of the
date this news release, and no assurance can be given that such events
will occur in the disclosed time frames or at all. Except where
required by law, Search disclaims any intention or obligation to update
or revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
SOURCE Search Minerals Inc.
