Copyright © 2023
iMinerals Inc.
All rights reserved.
iMinerals Inc.
All rights reserved.
October 15, 2014
Vancouver, B.C. (October 15, 2014) — I-Minerals Inc. (TSX.V: IMA; OTCQX: IMAHF) (“the Company” or “I-Minerals”)
announces that further to its press release of June 26, 2014 wherein it
announced it had excavated bulk samples totaling approximately 35 tons
from 10 sample sites on the Kelly’s Hump, Kelly’s Hump South, and
Middle Ridge portions of the Bovill Kaolin deposit, the first phase of
metallurgical work is now complete. The Kelly’s Hump bulk sample, the
largest of the three bulk samples, which was excavated from seven sample
sites, has now been processed via wet blunging and screen separation of
the halloysite—kaolinite clay fraction from the quartz—K-spar sand
fraction at Ginn Mineral Technology (“Ginn”) in Sandersville Georgia.
Wet screw classification was also successfully tested for incorporation
into the process schematic. Second stage processing on the Kelly’s
Hump material is nearly complete at Ginn wherein the clay fraction is
separated into kaolinite and halloysite using hydrocylone, centrifuge,
and differential flotation techniques to yield both standard and high
purity halloysite products.
The K-spar and quartz bearing sand fraction has been re-packaged for
shipment to North Carolina State University’s Minerals Research
Laboratory (“MRL”) for flotation separation of the K-spar and quartz.
The pilot plant process will include tertiary grinding followed by
standard wet flotation to separate the K-spar and quartz, dewatered, and
then passed through a dry rare earth magnetic separator to remove
residual iron minerals. Previous work at MRL has produced K-spar
products with purities greater than 13% K2O. The quartz fraction will
be processed using up to three stage flotation, where quartz purities
with less than 200 PPM of total impurities have been produced without
the use of any acid leaching techniques. At this point the pilot plant
at MRL is scheduled to start processing the K-spar and quartz bearing
sand fraction in the second half of October
The sample sites were reviewed and confirmed by SRK based on their
statistical modeling and will result in the most representative bulk
samples of the Bovill Kaolin deposits to date. In particular for the
purposes of the Feasibility Study this work is intended to confirm the
high purity k-spar and quartz results generated in initial sampling of
selective locations are in fact representative of the entire resource
including areas of kaolin enrichment/halloysite depletion.
I-Minerals anticipates producing about 10.5 tons of quartz, 4.5 tons of
K-spar, 3.0 tons of halloysite and 3.25 tons of Kaolin through the
respective pilot plants. Beyond confirming the flow sheet and equipment
required, the bulk sample will be indicative of the recoverable amounts
of minerals contained in the Kelly’s Hump area and provide
representative product samples to prospective customers for testing as a
means of firming up customer interest to the required feasibility
levels.
“With a proven reserve defined as part of our June 2014 prefeasibility
study we have drilled off the geological risk associated with our Bovill
Kaolin deposits on the Helmer Bovill project,” stated Thomas Conway,
President and CEO of I-Minerals Inc. “Now as we push the project
through feasibility, we expect the processing of this bulk sample will
not only confirm the quality of our high purity quartz, k-spar and
halloysite products sourced from the new Kelly’s Hump area, but of equal
importance, provide much needed samples for prospective customers to
help firm up their interest therein leaving detailed engineering as the
key outstanding item in the feasibility study process.”
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 central Idaho. A 2014
Prefeasibility Study on the Bovill Kaolin Deposit completed by SRK
Consulting (USA) Inc. highlights the potential of the Helmer-Bovill
property’s Bovill Kaolin deposit: after tax NPV6 of $212 million; 30.5%
IRR; 3 year payback and $72.7 million initial CAPEX; $84 million CAPEX
including life of mine sustaining capital over a 25 year mine life.
Ongoing development work is focused on moving project towards
production.
I-Minerals Inc.
per: “Thomas M. Conway”
Thomas M. Conway,
President & CEO
Contact:
I-Minerals Inc.
Barry Girling
877-303-6573 or 604-303-6573
Email: info@imineralsinc.com
Or visit our website at www.imineralsinc.com
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.
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.