I-Minerals Receives Water Permit; Re-submits Updated Operation and Reclamation Plan
April 5, 2017 (Source) — I-Minerals lnc. (TSX VENTURE: IMA) (OTCQB: IMAHF) (FRANKFURT: 61M) (the “Company”) is pleased to report it has re-filed its Operation and Reclamation Plan (“ORP”) with the Idaho Department of Lands (the “IDL”). The IDL provided I-Minerals with a short list of items required to secure the ORP and I-Minerals has provided the IDL with these items. In addition, the Idaho Department of Water Resources (“IDWR”) has issued the water permit allowing the Company access to aquifers and surface water for use in mineral processing. Volumes of water use approved by the IDWR exceed I-Minerals requirements with the balance available for IDL uses such as firefighting if required.
“We are pleased with the progress being made in the permitting process,” stated Thomas Conway, President and CEO of I-Minerals. “Our technical team led by HDR Engineering has done an excellent job of responding to the few outstanding items in a very timely fashion. Throughout the permitting process, the IDL has become quite knowledgeable about our Bovill Kaolin operation and we look forward to a timely response.”
A. Lamar Long, CPG, is a qualified person (“QP”) for I-Minerals Inc. and has reviewed and approved the contents of this release.
About I-Minerals Inc.
I-Minerals is developing multiple deposits of high purity, high value halloysite, quartz, potassium feldspar and kaolin at its strategically located Helmer-Bovill property in north Idaho. A 2016 Feasibility Study on the Bovill Kaolin Deposit led by GBM Engineers LLC, who were responsible for overall project management and the process plant and infrastructure design, including OPEX and CAPEX calculated an After Tax NPV of US$249.8 million with a 25.8% After Tax IRR. Initial CAPEX was estimated at $108.3 million with a 3.7 year After Tax payback. Other engineering services were provided by HDR Engineering, Inc. (all environmental components; hydrology / hydrogeology; road design); Tetra Tech, Inc. (tailings storage facility design); Mine Development Associates (mine modelling; ore scheduling; mineral reserve estimation); and SRK Consulting (U.S.) Inc. (mineral resource estimation). Permitting work with the State of Idaho is well underway.
Per: “Thomas M. Conway”
Thomas M. Conway, President & CEO
This News Release includes certain “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: changes in the world wide price of mineral market conditions, risks inherent in mineral exploration, risk associated with development, construction and mining operations, the uncertainty of future profitability and uncertainty of access to additional capital.
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 FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE