Star Minerals Group Ltd. Collaborates With US Department of Energy on Metal Extraction From Geothermal Brines
December 9, 2014 (Source: Marketwired) — Star Minerals Group Ltd. (CSE:SUV) (“Star“) announces it has signed a multi-party agreement to participate in a research project aimed at recovering rare earth elements, precious metals and other critical materials from geothermal brines using advanced sorbent structures. The research is being managed by Pacific Northwest National Laboratories (“PNNL”) located in Richland, Washington with the majority of project funding coming from the US Department of Energy (“DOE”) and the Office of Energy Efficiency and Renewable Energy (“EERE”). In addition to PNNL, the DOE, EERE and Star, other project participants include Barr Engineering Co. (“Barr”) of Minneapolis, MN and the University of Oregon, Eugene OR.
The objective of the program is to evaluate, develop and demonstrate flexible, scalable mineral extraction technology for geothermal brines based upon solid phase sorbent materials. Techno-economic modeling will be done to determine the conditions where the developed technology is viable. The technology will enable effective extraction of strategic/critical metals while providing an economic benefit to the geothermal operation. Metals of interest include the rare earths, in particular “heavy” rare earths, gold, silver and platinum group metals, zinc, manganese, tellurium, scandium, selenium and uranium. Star’s goal is to help develop an economically viable technology that allows the Company to achieve its overall corporate goal, and primary focus, of developing sources of strategic metals for downstream use in “green” energy technologies.
The research program is scheduled over a 2-year period with all participants providing time and/or funding to the project. Star’s contribution is US$150,000 over the 2-year period along with consulting time. The total project budget is estimated at US$650,000.
Jim Engdahl says, “Star is excited about the potential of this research project. With political and environmental forces, worldwide, making it increasingly difficult to carry out conventional mining, this may well be how primary metal is produced in the future. At the very least it provides us with another way to recover some of these critical materials that are difficult to produce conventionally, while at the same time cleaning up waste streams going back into the ground.”
About Star Minerals Group Ltd.
Star is a Saskatoon-based, diversified exploration stage company, with a primary focus on strategic technology metals, and its advanced joint venture rare earth project Hoidas Lake. To advance exploration, the Company has leveraged the strength and experience of its management, board of directors and advisors to identify and acquire strategic investments that have the capability to generate cash flow with low capital expenditure costs.
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The Company entered into a joint venture in an advanced rare earth project in Saskatchewan – Hoidas Lake. Star also holds a strategic gold exploration property in the Seabee gold mining district, diamond properties in the Fort a la Corne region as well as base metal and uranium properties.
STAR TRADES ON THE CSE UNDER THE SYMBOL “SUV”.
For more information, please visit our website at www.starminerals.ca.
Forward Looking Statements
This news release contains certain statements which constitute forward-looking statements or information (“forward-looking statements. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Star’s control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Star believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. Other factors that could materially affect such forward-looking statements are described in the risk factors in the most recent management’s discussion and analysis that is available on the Company’s profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Star does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. This cautionary statement expressly qualifies the forward-looking statements contained in this document.
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