VANCOUVER, BC, May 10, 2021 /CNW/ - Strategic Resources
Inc. (TSXV: SR) (the "Company" or "Strategic") is pleased
to announce it has commenced joint hydro-metallurgical testing with
VanadiumCorp Resource Inc. (TSXV: VRB)("VanadiumCorp") using their
patented and proprietary green recovery process named VanadiumCorp
Electrochem Process Technology ("VEPT") on titanomagnetite
concentrate from Strategic's wholly-owned Mustavaara Project in
Finland. The ongoing testing
campaign is being performed by Electrochem Technologies &
Materials inc. ("Electrochem") at its facilities in Boucherville, Quebec, Canada. The program will
test whether this clean energy technology from VanadiumCorp would
be viable on Mustavaara's material and could provide an alternative
and more environmentally friendly way to extract vanadium and iron
versus the conventional smelting methods evaluated in the
Preliminary Economic Assessment for the Project (see news release
dated May 4, 2021). Vanadium end
products produced by the VEPT process favour the rapidly emerging
Vanadium Redox Flow Battery industry in contrast to the current
flowsheet, which produces ferrovanadium used in the steel industry.
In addition, the process offers the potential for commercial-grade
titanium production as a third revenue stream for the Project.
Adriaan Bakker, VanadiumCorp's
CEO, commented: "VanadiumCorp is excited to be working with
Strategic, who has identified the potential of our patented green
process technology. As the Mustavaara Project encompasses a
formerly producing vanadium-iron- mine, it represents a potential
paradigm shift toward green metallurgical recovery methods. Located
in Finland, sustainable recovery
of vanadium and other critical metals at Mustavaara would represent
an exciting development in the region and the EU."
About VEPT
VEPT is a patented and proprietary chemical process technology
wholly owned by VanadiumCorp. Dr. Francois
Cardarelli, from Electrochem Technologies & Materials
Inc., invented VEPT in 2017 to address challenges in the
metallurgical recovery of vanadium from a variety of feedstocks.
The VEPT process was co-developed by Electrochem and VanadiumCorp
over the past four years as a higher-yielding alternative to
conventional methods that rely upon carbon- and energy-intensive
pyrometallurgy. The VEPT process directly recovers source materials
for the Vanadium Redox Flow Battery industry, such as vanadium
pentoxide and vanadyl sulphate both precursors for producing
vanadium electrolyte. Yields include a high-purity titanium
byproduct. VEPT is patent-protected in the USA and patent-pending in the key global
jurisdictions of Canada, the EU,
South Africa, Australia, and India. Testing of the VEPT process on a wide
range of feedstocks is currently progressing at the bench
scale.
About Strategic Resources
Strategic Resources Inc. (TSXV:SR) is a Vancouver, Canada-based mineral exploration
and development company focused on vanadium projects in
Finland. The Company is primarily
focused on its flagship Mustavaara vanadium-iron-titanium project
in Finland. The Company continues
to evaluate new opportunities that are related to the
electrification of the economy.
Further details are available on the Company's website
at https://strategic-res.com/.
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STRATEGIC RESOURCES INC.
Signed: "Scott Hicks"
Scott Hicks, CEO
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.
Cautionary Note Regarding Forward-Looking
Information
Certain statements and information herein, including all
statements that are not historical facts, contain forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or
information include but are not limited to statements or
information with respect to future testing on Mustavaara's material
and whether it could provide an alternative and more
environmentally friendly way to extract vanadium and iron versus
the conventional smelting methods contemplated in the preliminary
economic study. Often, but not always, forward-looking statements
or information can be identified by the use of words such as "will"
or "projected" or variations of those words or statements that
certain actions, events or results "will", "could", "are proposed
to", "are planned to", "are expected to" or "are anticipated to" be
taken, occur or be achieved.
With respect to forward-looking statements and information
contained herein, the Company has made numerous assumptions
including among other things, assumptions about general business
and economic conditions, the prices of vanadium and pig iron, and
anticipated costs and expenditures. The foregoing list of
assumptions is not exhaustive.
Although management of the Company believes that the
assumptions made and the expectations represented by such
statements or information are reasonable, there can be no assurance
that a forward-looking statement or information herein will prove
to be accurate. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause the
Company's actual results, performance or achievements, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements or information. These factors include,
but are not limited to: risks associated with the business of the
Company; business and economic conditions in the mining industry
generally; the supply and demand for labour and other project
inputs; changes in commodity prices; changes in interest and
currency exchange rates; risks relating to inaccurate geological
and engineering assumptions (including with respect to the tonnage,
grade and recoverability of reserves and resources); risks relating
to unanticipated operational difficulties (including failure of
equipment or processes to operate in accordance with specifications
or expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters); risks relating to adverse weather conditions; political
risk and social unrest; changes in general economic conditions or
conditions in the financial markets; and other risk factors as
detailed from time to time in the Company's continuous disclosure
documents filed with Canadian securities administrators. The
Company does not undertake to update any forward-looking
information, except in accordance with applicable securities
laws.
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SOURCE Strategic Resources Inc.