Canadian Metals Inc. Announces Awarding the Langis Project Pre-feasibility Study to CIMA+
December 19, 2017 (Source) — Canadian Metals Inc. (The “Company”) (CSE:CME)(CSE:CME.CN)(CNSX:CME) is very pleased to announce the company is proceeding forward with the next stage of the Langis Project development into a Pre-feasibility study (PFS). The Pre-feasibility study work is awarded to CIMA+ following the successful completion of the Preliminary Economic Assessment (PEA) and it is expected to be completed in the first half of 2018.
After the successful completion of the PEA the company undertook an additional drilling program during the spring and summer of 2017 to expand the resources and move to the indicated and measured categories. Based on the results a new resources model was developed and it will be the basis of the Pre-feasibility design work.
The Pre-feasibility work plan strategy was developed around the new resource model for a Base Case 100% Ferro Silicon (FeSi) production.
Some major items to be considered in the pre-feasibility report are:
- Complete the Pre-feasibility Study report within the National Instrument 43-101 requirements;
- Compliance with the requirements from the Autorité Des Marchés Financiers (AMF);
- Geology and Resource Model and Mine design review and considerations;
- Beneficiation Plant design;
- Metallurgical Plant design;
- Environmental compliance;
- Engineering work;
- Identify the marketing strategy for the product;
- Infrastructure requirements;
- Manpower strategy and human resource plan;
- Capital and Operating costs structure optimization and adhering to the local standards and specifics;
- Project economics including development of a Financial Model, based on the Capital and Operating costs completed in Canadian Dollars (CAN$);
- Conclusions and all recommendations to perform during the next phase;
- Health and Safety recommendations;
- Operational Readiness;
- Opportunities, risk analysis and risk register;
- Project management of the Pre-feasibility Study;
- Project Development Roadmap, presenting the tasks, time and costs to further develop the project from the PFS to Feasibility Study (FS), Engineering, Procurement, Construction Management, Commissioning, Production Ramp-up and Operations.
Mr. Hubert Vallée, President and CEO of Canadian Metals, stated: “We are extremely happy to proceed further into the next stage of the Langis project development starting with the Pre-feasibility study and to work once again with CIMA+ and build on the successful completion of the Preliminary Economic Assessment for us. We are confident having the right expertise and experience, CIMA+ will continue to work with Canadian Metals as our partners in the Langis project development and look forward to another successful project.”
Canadian Metals looks forward to a successful Pre-feasibility project implementation and a continuous partnership with CIMA+ going to the next stages of the project development.
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About Canadian Metals
Canadian Metals is focused on the development of its Langis project, a high-purity silica deposit located in the province of Quebec. The Company is rapidly positioning itself as a supplier of high purity silica and silicon alloy in North America. Silicon based materials can be formulated to provide a broad range of products from more durable, faster building materials with smarter electronic devices, solar panels and more efficient wind turbines. We expect to become a global supplier for a number of industries and applications but without limitation: glass, ceramics, lighting, oil and gas, paint, plastic and rubber. We also want to become an integrated supplier to metallurgical industries including foundries, and participate in a wide range of civil, industrial, environmental and related applications. These target markets are an integral part of the lives of millions of people every day.
Cautionary Statements Regarding Forward Looking Information
Certain statements included herein may constitute “forward-looking statements”. All statements included in this press release that address future events, conditions or results, including in connection with the pre-feasibility study, its financing, the hybrid flex project, job creation, the investments to complete the project and the potential performance, production and environmental footprint of the silicon plant, are forward-looking statements. These forward-looking statements can be identified by the use of words such as “may”, “must”, “plan”, “believe”, “expect”, “estimate”, “think”, “continue”, “should”, “will”, “could”, “intend”, “anticipate” or “future” or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties and assumptions, including those mentioned in the Corporation’s continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Corporation and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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