Mag One completes seven trials at phase 1 pilot plant
2017-11-22 16:24 ET - News Release
Ms. Gillian Holcroft reports
MAG ONE'S PHASE 1 PILOT PLANT GENERATING ENCOURAGING RESULTS
Mag One Products Inc. has provided an update on the rapid progress being achieved at the company's phase 1 hydrometallurgical pilot plant. To date, seven pilot trials have been performed with each successive test showing improved performance. Though the operating conditions are still being optimized, amorphous silica, having a purity of more than 88 per cent, and a surface area of more than 300 square metres per gram, along with the precursor magnesium compound having a purity of about 99.0 per cent, have been observed. The intent is to engage two separate third party industrial research groups to evaluate and qualify the amorphous silica produced by the pilot plant for value-added incorporation into high performance concrete, rubber and other materials. Mag One is finalizing its budget and government grant application for the phase 2 hydrometallurgical pilot plant work, where the precursor magnesium compounds will be transformed into high-purity magnesium oxide, the feed material for producing magnesium metal through aluminothermic reduction.
The purpose of the pilot plant, designed to process 100 kilograms per hour of serpentinite tailings, is twofold: (1) to gather engineering data to design, build and operate a commercial 30,000-metric-tonne-per-year MgO (magnesium oxide) production facility in southeastern Quebec; and (2) to generate MgO and amorphous silica for qualification purposes by third parties, including potential customers, for establishing offtake agreements.
As previously disclosed in the company's Oct. 12, 2017, and Nov. 20, 2017, news releases, management's decision to begin permitting efforts, as well as its commitment to processing the Jeffrey mine tailings, to recover magnesium, silica and nickel, has not been based on results from a feasibility study of mineral reserves that would demonstrate economic and technical viability of the project. Without this study, there is increased uncertainty and increased economic and technical risks. Management does intend to engage an engineering firm to carry out a prefeasibility study once the pilot plant effort is nearing completion and will use the pilot data as a basis for the study.
Gillian Holcroft, Mag One's president, stated: "Our team of collaborators, from the MRC des Sources Mining Innovation Centre (CIMMS) to the University of Sherbrooke and others, have achieved admirable progress in the pilot plant. This groundbreaking work is critical to ultimately being able to produce magnesium metal cost-effectively from our advanced technology. The whole region has rallied around our work, and we fully expect support from all levels of government in forthcoming phases of our work."
Lastly, Mag One has been assigned its LEI (legal entity identifier).
The Legal Entity Identifier is the international ISO standard 17442. LEIs are identification codes (across markets and jurisdictions that enable consistent and accurate identification of all legal entities that are parties to financial transactions, including non-financial institutions.
The Mag One Products LEI is: 549300CLAKDSVBQM3104.
Mag One Products is a company that aims to be a global leader in the magnesium (Mg) market by concentrating on four projects at its manufacturing plant sites in Southern Quebec, Canada:
- Production of high-purity MgO, silica and other saleable co-products, byproducts and compounds;
- Production of 99.9-per-cent-pure-magnesium ingots;
- Magboard Products Inc., assembly and sale of MgO-based, structural insulated sheathing panels and wallboards;
- MagPower's Mg air fuel cell for scalable emergency power on sea and land.
Gillian Holcroft, eng, MEng, president and director of Mag One Products, is the company's designated qualified person for this press release, and has prepared and supervised the preparation of and approved the scientific and technical disclosure in this news release.
We seek Safe Harbor.