VANCOUVER, British Columbia – Temas Resources Corp. (CSE: TMAS, OTCQB: TMASF, FSE: 26P) (the “Company” or “Temas Resources”), is pleased to announce that it has completed the acquisition of 36 mineral claims in Quebec, the Lac Brule property; 35 claims by staking, and by purchasing one claim. Total cost for staking and acquisition was less than $50,000 in cash and shares.
“The Temas team is extremely pleased to have been able to secure 100% of the high-grade Lac Brule Fe-Ti-V project in Quebec,” commented Michael Dehn, CEO of Temas Resources. “The mineralization from this project should be ideal feedstock for our 50% owned ORF Processing Technology, which can process various minerals at a low cost and in an environmentally friendly manner. The pilot plant, for the processing of titanium, vanadium and iron rich material, is expected to be fully operational imminently. We will communicate to the market as the project develops.”
The Lac Brule Project is comprised of 36 claims, covering 2,016 hectares within the Labrieville Anorthosite Complex. The Project is road accessible, approximately 64km from Labrieville (30km in a straight line), on the north shore of the St. Lawrence 100km north of Forestville, near the Bersimis 2 power generation site.
Historic drilling conducted intersected two high-grade mineralized lenses. The mineralization is favorable for the application ORF TiO2 technology, demonstrated to be 144.8% more cost-efficient than conventional processes.
Historic metallurgical bench tests on Lac Brule mineralization attained 94% TiO2, 95% V2O5 and 99% Fe2O3 successfully leached.
Table 1 Salient Mineralized Intersections from the most recent drilling campaign (2018)
|Hole Id||From (m)||To (m)||Interval (m)*||Fe2O3 %||TiO2%||Ti %||V2O5%||V%||Lens Id|
True width estimated at approximately 90% of drill intercepts. The mineralization is hosted in at least two massive hematite-ilmenite tabular lenses within the Labrieville anorthosite layered complex. The lenses trend NW and dip 25° ENE. These lenses outcrop in a cliff along Lac Lise road and are intercepted at surface and at a depth of 30 metres below surface in the drilling conducted to date. A VTEM survey conducted by the previous land holder delineated a 2.5km conductor. Additional conductors identified on the property have only seen initial exploration with limited surface sampling. One of these conductors, located northwest of the mineralized lenses yielded results which included a grab sample assaying 35.5% TiO2.
Drill Hole Details
All drill holes were collared facing north (000) and drilled vertically (-90).
This drilling was conducted by Orbit Garant, for the previous property holder in 2018. SGS Canada conducted the analytical work and performed a GO_XRF76V analysis of half of the drill core from the conducted drilling. Documentation does not indicate anything that could materially affect the accuracy of reliability of the data from this drill program. A quality assurance and quality control program was conducted in conjunction with this drill program and consisted of standard, duplicate and blank samples inserted within the samples sent for lab analysis, SGS also conducted QAQC throughout their analysis.
About Temas Resources Corp.
The Company is focused on the advancement of mineral independence and the processes in which minerals are extracted in an environmentally friendly manner. The Company invests in and works to apply green technology across its mining portfolio to reduce the environmental impact and carbon footprint of metal extraction through advanced processing and patented leaching technologies. The Company is advancing Fe-Ti-V projects in Quebec and soon expects to be active on Boron Projects in Serbia.
Rory Kutluoglu, B.Sc, P.Geo, is the Qualified Person as defined by NI 43-101 who has reviewed and approved the technical information contained within this press release.
On behalf of the Board of Directors of Temas Resources Corp.,
Forward Looking Statements
This news release includes certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” under applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward-looking statements or information.
Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Temas Resources, future growth potential for Temas Resources and its business, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of iron, titanium, vanadium and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Temas Resources’ ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Temas Resources’ respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and Temas Resources has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company’s dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company’s mining activities in Quebec; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; risks regarding mineral resources and reserves; the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities and artisanal miners; the Company’s ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption “Risk Factors” in Temas Resources’ management discussion and analysis. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although Temas Resources has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Temas Resources does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
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