AUXICO RESOURCES CANADA INC.
Minastyc is a 100% Company-controlled critical mineral rich project which intends to be the subject of a near-term small-scale production program. The Company is pleased to announce the results from a campaign conducted on the Minastyc property during 2021 by Mr.
- The samples were taken from 8 pits spanning a distance of approximately 1.8 km, from east to west (refer to Figure 1). The samples were selected and channeled within the TA Area, Area 50, and in
December 2021 , new pits were established and sampled as well. - All the results contain rare earth elements (REE) as well as other critical minerals, therefore further demonstrating the potential of the Minastyc property as a strategic source of critical minerals that are key to the energy transition and a focal point of public policy. Only the results of some of the more valuable REE findings are highlighted below:
- A 3 kg sample (#S00357835A) yielded 139.6 g/t Nb, 26.4 g/t Ga, and 73.6 g/t Rb (channel sample from surface to a depth of 1.0 metre).
- A 3.2 kg sample (#S00357841A) yielded 34.4 g/t Nb, 165.6 g/t Pr, 14.4 g/t Dy, 22.7 g/t Ge, 1.022 kg/t Ce, and 98.3 g/t Sm (channel sample from a depth of 1.2 metres to 3.0 metres).
- A total of 11.6 kg (average) from samples #S00357846 to #S00357850, included, returned grades of 18.1 to 36.5 g/t Ga and 11.9 to 24.9 g/t Rb (sample #S00357846 to #S00357849 channeled from surface to a depth of 3.5 metres, and sample #S00357850 channeled from surface to a depth of 1.5 metres, just above #S00357851).
- A 10.6 kg sample (#S00357851) yielded 2.90 kg/t Nb, 1.63 kg/t Ta, 36.6 g/t Ga, and 23.9 g/t Rb (channel sample from taken from a depth of 1.5 metres to 2.5 metres).
- From channel sampling across 8 pits, it was observed that the clayish-rich conglomerate appears to be the most fertile unit carrying the most abundant Ta-Nb-Sn-REE's and other critical minerals; Area 50 richer in REE's and Area 50 richer in Ta-Nb. Mineralization starts at the surface and can be seen to extend at least a few metres to the bottom of the trenches. The larger sample size yielded better results than panned concentrates, demonstrating that a larger sample size is a more representative indication of the actual grade.
- A total of 361 pits were identified on the Minastyc property (refer to Figure 2) based on compiled data, and according to what was observed, mineralization and minerals of interest are hosted in gravel size fragments primarily found from surface to a depth of several metres. Other stratigraphic horizons that contain fine sands and clays also contain REE and critical minerals.
- Incorporating data from previous work conducted on the property, the highly prospective TA Area and Area 50 lie approximately 1.6 km apart, with both areas having returned various high-grades in concentrates and samples weighing from 3 kg to 12 kg.
- The amended NI 43-101 Report indicates a representative 3.2 tonne bulk sample taken from two locations on the Area 50 pit. Acid Bake Testing of the bulk sample concentrate, sample# S00357793 was done in March, 2022 at IGS Impact Global Solutions laboratory. The results produced a Total Rare Earth Oxide (TREO) concentrate totalling 49% with recoveries averaging 89.74% as provided in Table 1 below. In this same test IGS was able to precipitate 94.38% of the Thorium, and 92.34% of the Uranium, both radioactive elements. IGS is confident they can precipitate +99% of the Thorium and 90%-95% of the Uranium. In conclusion, a straightforward production of Rare Earth bulk concentrate with only minor amounts of Thorium and Uranium was achieved at the lab scale level using scalable and conventional processing technology of acid bake, water leach and precipitation steps. This is important because in order to transport the concentrates to North American or European refineries, the radioactive content must be less than 100ppm which appears to be achievable.
Element | Ce | Dy | Er | Gd | Ho | La | Lu | Nd | Pr | Sm | Tb | Th | U | Y | Yb |
Feed (%) | 22.26 | 0.60 | 0.21 | 0.68 | 0.08 | 7.43 | 0.07 | 10.90 | 3.02 | 2.86 | 0.12 | 2.48 | 0.16 | 0.46 | 0.30 |
Acid Bake water leach | 91.46 | 92.57 | 89.22 | 94.14 | 91.44 | 94.59 | 85.39 | 92.92 | 94.04 | 95.03 | 93.17 | 94.38 | 92.34 | 89.15 | 63.51 |
Table 1: Acid Bake & Water Leach recoveries for sample S00357793
Mr.
Disclaimer: The Qualified Person does not take any responsibility for the values presented in this press release taken in 2019 by Mr.
Additional information on
ON BEHALF OF THE BOARD OF DIRECTORS
« signed. »
Chairman,
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This press release contains statements that constitute "forward-statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the planned studies, drill program and the development of the Minastyc or El Benton Projects, its sampling program, indications and other mining projects and prospects thereof, related to the Company's operations in
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