checkmate28
5 years ago
DNI Metals - Signs LOI to further develop its Vanadium / Polymetallic Alberta Black Shales deposit
ACCESSWIRE ACCESSWIRE•December 18, 2018
TORONTO, ONTARIO / ACCESSWIRE / December 18, 2018 / DNI Metals Inc. (DNI: CSE; DNMKF: OTC) ("DNI" or the "Company")
DNI's focus is Graphite in Madagascar, but due to the increase in certain battery metals pricing including the value of Vanadium, V2O5, from $5.89*per pound, in 2014, to over U$27.50 the increase of Cobalt, Co, from U$14.38* per pound, in 2013, to over U$25.06, the increase in Lithium, Li2CO3, from U$ 2.82* per pound to over U$30.00, DNI Metals Inc, is pleased to announce that a number of parties have shown renewed interest in its Black Shales Polymetallic deposit in Alberta.
Note: All the mineral prices have changed, the $Can/US exchange rate has changed, and input costs may have changed .*Prices as well used in DNI's resource report dated August 27, 2013.
Dan Weir, CEO, commented, "I want to emphasize that DNI is focused on developing its Graphite deposits in Madagascar. The previous management team and board of DNI did an amazing job, developing the Alberta Black Shales deposits. Over $6.7 million was spent on developing the deposits. The new team and I were treating the Black shales as a non-core asset. It is great to see the renewed interest in the project, and the worldwide demand for Vanadium."
Highlights of DNI's Vanadium and Polymetallic Resource in Alberta.
Several studies on the resources and economic significance of the deposits have been completed and a summary of selected results is presented below. Further details can be found on SEDAR”
Vanadium - Buckton South- Inferred Resource - Lower Portion - Second White Speckled Shale Formation
Vanadium - Buckton – Inferred Resource - Lower Portion - in Second White Speckled Shale Formation
Six Mineralized zones
DNI's Polymetallic Deposits – Battery and Electric car Metals
Letter of Intent
DNI has signed a Letter of Intent ("LOI") granting a private company ("Privateco") an option to earn up to a 51% interest in DNI's Alberta Black Shales Deposit. The LOI is generally non- binding, except for matters related to, among others, exclusive dealing and confidentiality.
DNI will grant to Privateco the option to earn an initial 51% interest in the Black Shales Property as follows:
upon execution of the LOI, Privateco is paying ONE HUNDRED THOUSAND dollars (Cdn$100,000) to DNI;
on or before the date which is the earlier of 6 months from the date of the Definitive Agreement or 15 days after the date that Privateco completes an RTO/IPO transaction, Privateco would pay an additional ONE HUNDRED FIFTY THOUSAND dollars (Cdn$150,000) to DNI; and
by incurring exploration and development expenditures on the Property of at least ONE MILLION dollars (Cdn$1,000,000) on or before March 31, 2021.
Privateco is controlled by Jim Atkinson in trust and without personal liability for a corporation to be incorporated. This is an arm's length transaction.
Dan Weir, CEO, commented, "Completing a deal with Privateco, will allow further development of its Vanadium / polymetallic assets, without sacrificing its Graphite Assets. We look forward to working with Privateco' s professional team."
DNI has also received interest from a First Nation group to purchase one claim of its eight claims of the Alberta properties and make the area into a provincial park. This could possibly include the area where DNI has its indicated resources, the Buckton zone.
Note: DNI is aware of six mineralization zones, 3 that have been drilled, and that the 3 stretch over 30 kms apart. The 6 form an even bigger area.
Black Shales – Vanadium
DNI Metals owns a Polymetallic black shales deposit in Alberta.
Mineral resources are hosted in two near-surface stacked black shale horizons which are mineralized with recoverable Mo-Ni-U-V-Zn-Co-Cu-Li-REEs-Y-Th-Sc and are partly exposed on surface. Six mineralized systems, or zones, have been identified on DNI's Property in northeast Alberta.
Two zones, the Buckton and the Buckton South zones have inferred resources and the Buckton has in addition indicated resources.
Asphalt Mineralized Zone. Three holes were drilled over the Asphalt Mineralized Zone, in 2011. It is located approximately 30 kilometres to the south of the Buckton Mineralized Zone.
Buckton South - March 1, 2013 Technical Report
The Maiden Resource Estimate for the Buckton South Zone, SBH Property Northeast Alberta prepared by APEX Geoscience Ltd. classified an inferred resource consisting of 548 million short tons (497 million metric tonnes) of mineralized black shale extending over 3.3 square kilometres beneath less than 75m of overburden cover. This resource is hosted in the Labiche Formation and underlying Second White Speckled Shale Formation, which are two flat-lying Formations that are stacked to comprise a continuous thick zone of mineralized shale. The inferred resource is mineralized with recoverable Molybdenum (Mo), Nickel (Ni), Uranium (U), Vanadium (V), Zinc (Zn), Copper (Cu), Cobalt (Co), Lithium (Li), Scandium (Sc), Thorium (Th) and Rare Earth Elements Lanthanum (La), Cerium (Ce), Praseodymium (Pr), Neodymium (Nd), Samarium (Sm), Europium (Eu), Gadolinium (Gd), Terbium (Tb), Dysprosium (Dy) and Yttrium (Y). The Resource Study estimates that the maiden inferred resource is overlain by 122 million short tons (110 million metric tonnes) of glacial till overburden cover.
Buckton - September 9, 2013 Technical Report
The Updated and Expanded Resource Estimate for the Buckton Zone SBH Property Northeast Alberta, prepared by APEX Geoscience Ltd. expanded the inferred resource at the Buckton Zone from 3.5 billion short tons to 4.9 billion short tons, in addition to upgrading a portion of it to the indicated resource class by delineating a 300 million short ton indicated mineral resource. The inferred and indicated resources together extend over 21.9 square kilometres (approximately a 3kmx8km area), 20.4 square kilometres of which represents the aerial extent of the inferred resource.
Asphalt Mineralized Zone – Exploration Target
Three holes were drilled over the Asphalt Mineralized Zone*, located approximately 30 kilometres to the south of the Buckton Mineralized Zone*. A number of additional planned drill holes were deferred, including holes intended to upgrade a portion of the Asphalt Mineralized Zone* (previously named the Asphalt Potential Mineral Deposit*) into an inferred resource, and holes intended to verify projected extensions of the Zone* which is open in three directions.
As outlined in the SBH Technical Report, the Asphalt Potential Mineral Deposit* holds potential for hosting 109-132 million short tons of polymetallic mineralization extending over 4.5 square kilometers and is open in three directions. The Asphalt Potential Mineral Deposit* was recently renamed as the Asphalt Mineralized Zone* to harmonize nomenclature with Jun30/2011 amendments to NI-43-101. Although based on drilling and nearby outcrop exposures, the Asphalt Mineralized Zone*, as better outlined in the SBH Technical Report, is a target for further ongoing exploration, it is conceptual in nature as there has been insufficient drilling conducted over the Zone* to define a mineral resource, and it is uncertain whether further drilling will define a mineral resource over the Zone*.
DNI’s current drilling reinforces geological extrapolations which suggest good continuity of mineralization within the Asphalt Mineralized Zone*.
Details of the drilling completed over the Asphalt Mineralized Zone* (holes 11AS01-11AS03) are tabulated below, showing analytical results, as well as comparative grades from adjacent historic holes 7AS01 and 7AS02.
Hole
Depth
Zone Width** (m)
Weighted Average Grade (ppm) ***
Specific
#
(m)
From-To
Width
Mo
Ni
U
V
Zn
Cu
Co
Ag
Li
Gravity
11AS01
51.0
26.8-37.9
11.1
116
203
47
786
352
88
30
1.0
75
2.38
11AS02
106.5
95.5-106.5
11.0
65
137
30
682
281
89
23
0.9
85
2.48
11AS03
32.5
Hole Lost in overburden in bad ground @ 32.5m depth
7AS01
76.3
7.1-18.5
11.4
73
144
47
690
376
89
20
0.3
na
na
historic
7AS02
89.8
21.6-33.2
11.4
63
122
31
664
282
89
20
0.3
na
na
historic
Hole
Depth
Zone Width** (m)
Weighted Average Grade (lb/st) ***
#
(m)
From-To
Width
Mo
Ni
U
V
Zn
Cu
Co
Li
[MoO3]
[U3O8]
[V2O5]
11AS01
51.0
26.8-37.9
11.1
0.23
0.41
0.09
1.57
0.70
0.18
0.06
0.15
[0.35]
[0.11]
[2.80]
11AS02
106.5
95.5-106.5
11.0
0.13
0.27
0.06
1.36
0.56
0.18
0.05
0.17
[0.20]
[0.07]
[2.43]
11AS03
32.5
Hole Lost in overburden in bad ground @ 32.5m depth
7AS01
76.3
7.1-18.5
11.4
0.15
0.29
0.09
1.38
0.75
0.18
0.04
na
historic
[0.22]
[0.11]
[2.46]
7AS02
89.8
21.6-33.2
11.4
0.13
0.24
0.06
1.33
0.56
0.18
0.04
na
historic
[0.19]
[0.07]
[2.37]
Note: See notes attached to information tabulated above for the Buckton Mineralized Zone*.
The drilling over the Asphalt Mineralized Zone* serves to confirm historic drilling results. The results reiterate uniformity of grades between the Asphalt and Buckton Mineralized Zones* which are located some 30km apart, and continuity of bulk average grades over distances ranging 300m-760m between holes.
In addition, the recent drill results indicate that tonnages previously estimated for the Asphalt Mineralized Zone* in the SBH Technical Report, relying on historic information, are understated. While an estimated specific gravity of 2.1, per historic work records, was relied upon by the SBH Technical Report to estimate potential tonnages which might be hosted in the Asphalt Mineralized Zone*, specific gravity of the Speckled Shale as measured from the above drill core samples averages approximately 2.4 and, accordingly, revises potential tonnages estimated for the Asphalt Mineralized Zone* from 109-132 million short tons of polymetallic mineralization to 125-151 million short tons. The above specific gravity figures are consistent with results from surface sampling completed by DNI during the past two years.
NI 43-101 Disclosure
The information in this press release was taken from previous press releases and technical reports filed on Sedar between the years 2010-2014.
In 2013, the technical information had been prepared in accordance with Canadian regulatory requirements by, or under the supervision of, the following independent Qualified Persons: Mr. Eugene Puritch P.Eng. (per P&E Mining Consultants Inc.), Mr. Michael Dufresne P.Geol. (per APEX Geoscience Ltd.) and Mr. Bruce Cron P.Eng. (per Cron Metallurgical Ltd.) DNI's previous Qualified Person in respect of its Alberta polymetallic black shale project is Mr. Shahé F.Sabag P.Geo., former President and CEO of DNI.
James Atkinson P.Geo, and Qualified person, has reviewed and approved the information contained in this press release. The reports prepared by the previous consultants were completed by competent, Qualified Persons and the present QP believes the information to be accurate.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no guarantee that all or any part of the mineral resource reported herein will be converted into a mineral reserve. An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The metal recoveries reported represent preliminary mineral recovery testing results collated from the collective bench scale laboratory testwork completed by DNI to date and may not reflect actual process recoverability that might be achieved in a mineral production operation, all of which is the subject of ongoing studies.
DNI – CSE
DMNKF - OTC
Issued: 122,098,403
For further information, contact:
DNI Metals Inc. – Dan Weir, CEO 416-595-1195
DanWeir@dnimetals.com
Also visit www.dnimetals.com
Forward-looking Statements
spartex
6 years ago
NextSource Materials Signs Offtake Agreement With Primary Graphite Supplier to Major Japanese Electric Vehicle Anode Producer
7:30 AM ET, 10/16/2018 - GlobeNewswire
TORONTO, Oct. 16, 2018 (GLOBE NEWSWIRE) --
HIGHLIGHTS
Ten (10) year binding Offtake Agreement signed with a prominent Japanese Graphite Trading Company (“Japanese Partner”) to purchase 20,000 tonnes per annum of Molo SuperFlake® graphite for use in battery anode applications for electrical vehicles (“EV”). The Japanese Partner is a major supplier of flake graphite to Japan’s largest battery processor and manufacturer of graphite anode material in lithium ion batteries (“LiB”) for electric vehicle applications. This battery anode manufacturer currently has over 50 percent market share of premium-grade graphite anode production in Japan for electric vehicle battery applications. Its EV automotive customers are global. Currently, the majority of the Japanese Partner’s flake graphite purchases are used to supply Japanese battery anode producers for EV applications. The major Japanese electric vehicle anode producer has verified that NextSource’s SuperFlake® graphite concentrate achieved superior test results compared to the current graphite material it sources for LiB in EV automotive applications. The Offtake Agreement represents more than the initial Phase 1 mine production plan of 17,000 tonnes per year. As such, NextSource will begin internal discussions regarding moving straight to Phase 2 expansion tonnages. Further significant business opportunities remain between NextSource and its Japanese Partner. Both parties have agreed to commence discussions regarding potential supply chain collaboration, including partnering on value-added, downstream products using SuperFlake® graphite concentrate. Further opportunities remain available in the Asian and European markets, with NextSource having achieved very advanced product qualification with other potential partners toward supply agreements.
OFFTAKE AGREEMENT
NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF) (“NextSource” or the “Company”) is pleased to announce the signature of a binding Offtake Agreement for the supply of NextSource’s SuperFlake® graphite concentrate with a prominent Japanese Trading Company that is a primary supplier of flake graphite to a major Japanese electric vehicle anode producer. To protect certain confidential aspects of the Offtake Agreement, the Japanese Trading Company and the Japanese electric vehicle anode producer have requested not to be identified at this time.
KEY TERMS
The Offtake Agreement is for a period of ten (10) years and activates on the commencement of commercial production at the Molo project, with an automatic renewal for an additional five (5) years. The Japanese Partner will have the exclusive right to import and sell SuperFlake® graphite concentrate in Japan. Provided that commercial production commences within 3 years, following the ramp up period, the Japanese Partner will purchase 20,000 tonnes of SuperFlake® graphite per annum. Product prices will be negotiated on a per order basis between the parties and will be based on the floating market prices (FOB basis) prevailing in the region.
INTEREST IN ADDITIONAL TONNAGE
The Company has been advised that the primary customer of the Japanese Partner is a major global battery anode material manufacturer in Japan who has qualified Molo SuperFlake® graphite for battery requirements with its automotive customers. Additionally, the Company has been advised that product testing by this battery anode material producer has verified that NextSource’s SuperFlake® graphite concentrate achieved superior test results compared to the current graphite anode material it sources for use in LiB for EV applications.
The Japanese partner has indicated that all 20,000 tonnes per annum of NextSource’s SuperFlake® graphite concentrate will be used specifically for use in EV applications, and that the Japanese partner’s intention is to purchase additional tonnage in various size fractions for specific high-end application markets, such as expanded graphite (graphite foils) for the consumer electronics and fire retardant industries.
President and CEO, Craig Scherba P. Geo., said “This offtake partnership is a significant achievement for NextSource and is the culmination of more than four years of extensive product testing of our SuperFlake® graphite with major Japanese material manufacturers. This offtake agreement allows NextSource to gain an immediate foothold into the high-growth markets for electric vehicles, as well as the burgeoning energy storage market that will be reliant on graphite anode material. Our partnership with such an established trading partner positions NextSource to be a significant and dominant future supplier of high-quality flake graphite to major battery anode and graphite foil customers globally.”
FURTHER PARTNERSHIP & VALUE-ADD OPPORTUNITIES
Separate from the Offtake Agreement, NextSource and the Japanese Partner have agreed to immediately commence discussions regarding additional supply chain cooperation. Specifically, the parties have initiated discussions regarding a potential partnership for the production of value-add, downstream products using SuperFlake® graphite concentrate. This would include, but not be limited to, the processing of NextSource’s SuperFlake® graphite concentrate into spherical and purified graphite (SPG), both uncoated and coated, and expanded graphite for use in graphite foils in a separate and dedicated facility in a location that would best optimize the Japanese Partner’s customer base. NextSource and the Japanese Partner have begun organizing logistics towards meetings this November in Asia.
NextSource has made significant progress qualifying its SuperFlake® graphite concentrate with other major graphite end-users around the world, who have undertaken extensive product testing as part of their due diligence process for offtake agreements. The Company looks forward to updating the market on the progress of developments with other potential customers as soon as details are finalized.
STRONG DEMAND FOR GRAPHITE IN EV APPLICATIONS
Benchmark Minerals Intelligence has reported that natural flake graphite prices for all sizes fractions at 95 percent carbon purity and greater are nearing all-time highs. According to Roskill Information Services, a leading UK-based market and metals research firm, demand for natural graphite in LiB is expected to grow at 28% per year until 2027. Current global graphite anode consumption is estimated to be between 90,000 to 110,000 tonnes per year and predicted to reach 800,000 tonnes per year by 2027.
The spheronizing process when producing graphite anode material is a very inefficient one, with average yields of between 30 percent and 40 percent. Therefore, it takes approximately three tonnes of natural flake graphite to produce one tonne of graphite anode material. Today, the largest consumption market for flake graphite is for its traditional use in refractories, a crucial component in the steel making process. However, the flake graphite market is expected to double by 2025 based on the demand for LiB in EVs alone, which represents a 40 percent to 45 percent consumption share of flake graphite globally.
ABOUT MOLO SUPERFLAKE® GRAPHITE
As detailed in the Company’s June 2017 Feasibility Study, NextSource’s SuperFlake® graphite concentrate can achieve 98% carbon purity with standard mineral processing (flotation), has excellent thermal expansion, can be easily upgraded to 99.97% purity (battery grade) and contains no deleterious substances. The SuperFlake® graphite concentrate’s flake size distribution is well above the global average, with 46.4 percent being classified as the premium-priced +80 (large), +65 (extra large) and +48 (jumbo) mesh flake size. Specifically 23.6 percent of SuperFlake® graphite concentrate is +48 mesh and greater in size.
As previously reported, significant independent testing of the pilot plant material already completed by various key global offtakers and graphite end-users has confirmed that Molo SuperFlake® graphite concentrate meets or exceeds quality requirements for all major end markets for natural flake graphite - anode material for lithium-ion batteries, refractories and specialty graphite foils. Molo SuperFlake® has also been verified for graphene ink applications.
ABOUT NEXTSOURCE MATERIALS INC.
NextSource Materials Inc. is a mine development company based in Toronto, Canada, that is developing its 100%-owned Molo Graphite Project in southern Madagascar. The Molo Graphite Project is a feasibility-stage, shovel-ready project that ranks as one of the largest-known and highest quality flake graphite deposits in the world and the only project with SuperFlake® graphite.
For further information contact: +1.416.364.4911
Brent Nykoliation, SVP, Corporate Development at brent@nextsourcematerials.com orCraig Scherba, President and CEO at craig@nextsourcematerials.com
Safe Harbour: This press release contains statements that may constitute “forward-looking statements” within the meaning of applicable Canadian securities legislation. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements include, but are not limited to, the terms of the Offtake Agreement, results of the updated 2017 Feasibility Study, any and all product test results and product analysis, any statements relating to the further partnership and value added opportunities, production at the Molo project, delivery of the material and pricing terms. These are based on current expectations, estimates and assumptions, and although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, actual results or developments may vary and, in some instances, differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Source: NextSource Materials Inc
"Eyes Wide Open"
BryanC
6 years ago
DNI Announces Settlement Agreement with Cougar Metals
Toronto, Ontario / TheNewswire / September 24, 2018 - DNI Metals Inc. (DNI: CSE; DNMKF: OTC) ("DNI" or the "Company"), is pleased to announce that it has signed a settlement agreement (the “Settlement”)with Cougar Metals NL (“Cougar”). In light of the Settlement, the arbitration initiated by Cougar against DNI scheduled to be heard from September 24-28, 2018 will not proceed.
The Settlement brings the arbitration with Cougar to an end and provides needed certainty to the Company and its shareholders. The Settlement will allow DNI to move forward with the unhindered development of its Madagascar graphite projects.
Dan Weir, DNI’s CEO, commented, “DNI’s primary focus is to build a pilot plant to get into graphite production from the Vohitsara property as soon as possible. Having the arbitration uncertainty out of the way is a very positive step. When the pilot plant is built, management expects that there will be more than enough cash flow to pay the quarterly payments to Cougar. DNI’s drill results confirm that the Vohitsara property has significant potential for long term production. Management considered the cost of the Settlement was reasonable compared to the size of Cougar’s claims, one of which was US$6 million per year for the life of the mine.”
Details of the Settlement:
DNI will pay to Cougar:
Eight quarterly payments of C$250,000, starting 6 months from the settlement date or 14 days after DNI’s next successful financing; and
Two additional payments of C$250,000 will be made in addition to the third and fourth quarterly payments mentioned above.
In addition, no security over the Vohitsara property was granted to Cougar. However, if DNI sells an interest in the Vohitsara property of more than 50%, up to C$1 million of the net proceeds of sale will be paid towards the balance owing to Cougar. In that event, if there is still additional monies owing to Cougar, DNI will skip the next two C$250,000 payments.
The Settlement includes confidentiality obligations on both parties.
DNI’s expert legal team, led by McMillian LLP, were instrumental in settling this case.
checkmate28
6 years ago
DNI Sponsors Clean Water Day in Madagascar, and DNI Update
C.DNI, DNI | 14 minutes ago
READS BEST FROM THE LINK ON THE BOTTOM WHERE YOU CAN SEE THE JPEGS WHERE THEY ARE SUPPOSED TO BE! CM
TORONTO, ONTARIO / ACCESSWIRE / May 15, 2018 / DNI Metals Inc. (DNI: CSE) ("DNI" or the "Company"), is pleased to announce that it was an invited participant of a government-affiliated clean water event held on May 03rd 2018 north of Brickaville, Madagascar. The event, related to the UN-sponsored World Water Day, held on the 22nd March annually, is part of USAID’s $30 million, RANO WASH project announced February 23, 2018 < https://www.usaid.gov/rano-wash >. From the USAID website:
"RANO WASH will increase access to clean water for vulnerable populations, including girls, women and people with disabilities. In total, over 600,000 people will benefit from the project. This includes 300,000 people who will get access to clean drinking water through 140 water supply systems. These systems will be managed by local businesses with training from the project. A further 375,000 people will have better sanitation options thanks to improvements and rehabilitation work to existing toilets and cleaning stations. 190 public facilities, including health centers and schools, are among the locations destined to receive improved sanitation facilities."
image: https://www.accesswire.com/uploads/DNI_1.jpg
Hosting Banner for Rano-Wash Event of 03rd May 2018
The sponsoring entity, RANO-WASH, which stands for 'Rural Access to New Opportunities in Water, Sanitation, and Hygiene', will be implemented by a CARE-led consortium in conjunction with the Malagasy Ministry of Water, Energy and Hydrocarbons and Ministry of Public Health.
The event was held in the community of Sahavalaina, approximately 30km north of the District capital of Brickaville. Sahavalaina is located within DNI’s 100%-owned Marofody mining licence and 8km south of the main entrance to its 100%-owned Vohitsara Project.
It was well attended, with in excess of 100 locals present together with representatives of national, regional and local government and members of the Malagasy media.
image: https://www.accesswire.com/uploads/DNI_2.jpg
DNI’s Stand at the RANO-WASH event
image: https://www.accesswire.com/uploads/DNI_3.jpg
DNI Personnel Presenting the Company’s Programme to Locals & Officials
As part of the drilling program at the Vohitsara project a mandatory CSR program was implemented. This is an integral part of maintaining operational viability and community engagement. The program was comprised of training, health and medical support, as well as steps to improve access to clean water for residents. In doing so, the program:
Installed and commissioned a water well and pump at Ambatolampy village
Expanded and upgraded the local soccer field for the Ambatolampy and Vohitsara communities
Installed a road connecting Ambatolampy village to the national highway at Vohitsara village
Sourced and planted various fruit trees and soil stabilisation vegetation at strategic locations throughout the project area.
image: https://www.accesswire.com/uploads/DNI_4.jpg
image: https://www.accesswire.com/uploads/DNI_5.jpg
Drilling & Commissioning of the Water Well & Pump at Ambatolampy
image: https://www.accesswire.com/uploads/DNI_6.jpg
image: https://www.accesswire.com/uploads/DNI_7.png
Upgraded Soccer Field at Ambatolampy (L) Kids Playing on Soccer during site visit Apr.19 (R)
image: https://www.accesswire.com/uploads/DNI_8.jpg
image: https://www.accesswire.com/uploads/DNI_9.jpg
image: https://www.accesswire.com/uploads/DNI_10.jpg
image: https://www.accesswire.com/uploads/DNI_11.jpg
Above are pictures taken at an event commissioning a roadside nursery at the main entrance to the Vohitsara Project site. This event took place on the 11th April 2018. The plant nursery will be operated on a commercial basis by the local women's cooperative.
According to WaterAid: “11.7 million people in Madagascar don’t have access to safe water, 88% of the population of Madagascar don’t have access to improved sanitation, almost 4,000 children under five die every year from diarrheal diseases caused by unsafe water and poor sanitation.”
USAID backs up these claims by stating: “more than 58 percent Madagascar's people lack access to safe drinking water and nearly half of all households live without sanitation facilities.”
Dan Weir, CEO, commented: “ It is significant that, as part of the CSR for the 2017 Vohitsara drilling program, the Project was able to improve access to fresh potable water to local residents in the Project area.
The people of Madagascar are amazing, and as we develop our projects, we look forward to doing what we can to improve their lives.”
Update on bulk sample shipped to India
Through October and into November of 2017, DNI completed a 40 tonne bulk sample program from the main zone and the southwest zones of its Vohitsara graphite project. 26 tonnes total - 13 tonnes from each zone - were shipped to India and processed by the leading Indian graphite producer. The Indian group has informed DNI that they are quite impressed with the material and DNI is currently in final negotiations with them regarding the planned purchase of material from DNI's pilot plant.
image: https://www.accesswire.com/uploads/DNI_12.jpg
image: https://www.accesswire.com/uploads/DNI_13.jpg
Collected Samples ready for Shipment (L) – Close-Up of the material, showing coarse flake graphite (R)
Update on the Pilot Plant
The engineering is complete, subject to minor changes. DNI has obtained quotes from three China-based and one Canadian-based manufacturer. Once DNI obtains the environmental license(s) preparation will begin at the designated location for the pilot plant. The plant will be containerized and according to the Chinese quotes, can be ready for shipping in about 60 days. Transhipment from China to Madagascar is estimated at about 30 days. In consequence and allowing for potential delays, (e.g. customs clearance, plant construction etc.), DNI believes the plant will be operational in 2018. Note: DNI has identified suitable sites on both the Vohitsara and Marofody properties for the installation of processing facilities.
Update on Environmental License for Vohitsara and Marofody
As previously reported by DNI, commercial production was subject to completion / fulfillment of the requisite environmental impact and social responsibility ("EIE" & "CSR") studies and obligations. This 500-page study was filed with the Malagasy government in November 2017, for the Vohitsara Project. All fees have been paid and we expect to have the license shortly. For the Marofody project, the study and all fees have also been filed and paid, and we also expect to have this license shortly.
Dan Weir, CEO, commented, "We are currently completing all of the required steps to obtain the environmental licenses. This has been a 6 month process, but when compared to North America, which can take several years, we are impressed with the Malagasy efficiency."
According to SNL Metals, "In the U.S., the process can take more than seven years. When accounting for the other permits major mining projects require, the timeframe for obtaining all necessary permits to operate can easily exceed 10 years."
https://nma.org/wp-content/uploads/2016/09/SNL_Permitting_Delay_Report-Online.pdf
Update on the Arbitration with Cougar Metals
An arbitrator has been appointed to review all the information, and a schedule has been set. If the Arbitration continues to its full extent, the final evidentiary hearing will take place during the week of September 24, 2018. The arbitrator's final decision is expected to be rendered after that hearing.
About DNI Metals
Certain advisors and directors of DNI have significant operational experience at historical hard rock graphite mines in Canada (e.g. Ontario and Quebec) and Australia. Between them, they have built three (3) processing plants and designed two (2) others; all of which were shut down in the 1990,'s due to increased Chinese competition. Keith Minty, a director, previously worked at Cal Graphite near Kearny, Ontario.
It was our team's understanding of the high production and capital expenditure costs associated with so-called "hard rock" graphite mining that inspired DNI to search for saprolite-hosted graphite deposits.
Certain parts Madagascar and Brazil, produce graphite from weathered material called saprolite.
According to Dictionary.com, saprolite is described as:
"Soft, thoroughly decomposed and porous rock, often rich in clay, formed by the in place chemical weathering of igneous, metamorphic, or sedimentary rocks. Saprolite is especially common in humid and tropical climates. It is usually reddish brown or grayish white and contains those structures (such as cross-stratification) that were present in the original rock from which it formed."
DNI owns two saprolite-hosted graphite deposits in Madagascar; located 50kms from the country's main seaport. The deposits are located less than two (2) kms from the paved national highway. DNI intends to develop the Vohitsara project, should the economic viability and technical feasibility be established. DNI has not yet established mineral resources or mineral reserves supported by a PEA or mining study (PFS or FS).
DNI has a graphite wholesale business, through which it buys and sells high quality graphite.
Steven Goertz (MAusIMM, MAIG), who is a qualified person, approved the technical disclosure in this news release.
DNI – Canadian Securities Exchange
DMNKF - OTC
Issued: 100,732,580
For further information, contact:
DNI Metals Inc. – Dan Weir, CEO 416-595-1195
DanWeir@dnimetals.com
Also visit www.dnimetals.com
Forward-looking Statements
Read more at http://www.stockhouse.com/news/press-releases/2018/05/15/dni-sponsors-clean-water-day-in-madagascar-and-dni-update#YTtWIXmAt0LSmyoC.99
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