MONTREAL, Nov. 30, 2011 /CNW Telbec/ - Argex Mining Inc. announced today that it has successfully completed the mini-plant
testing of ore from its 100%-owned La Blache deposit that had begun in
February of this year. The ore was processed using the patented Process
owned by Argex's subsidiary Canadian Titanium Limited (CTL) and
developed to produce titanium dioxide, iron oxide and vanadium product
Highlights of the testing include the following:
Repeated and consistent results demonstrating production of 99.8% pure
titanium dioxide rutile product directly from run-of-mine material.
Repeated and consistent results demonstrating titanium dioxide
production with brightness that are in line with or superior to some of
the major TiO2 industry producers.
An improved and consistent TiO2 recovery rate of 90%.
Organics used in the CTL Process have been recycled more than 100 times
successfully demonstrating process viability.
TiO2 end-product successfully produced to the optimal 0.25 microns size as
required for commercial use in paints and other products.
"It is largely because of the success of our proprietary mineral
processing technology that we were able to produce such a successful
Preliminary Economic Assessment (PEA) results," stated Argex President
and CEO, Roy Bonnell, "The PEA confirmed for us the economic and
technological viability of the CTL Process." On October 26, 2011, Argex
reported by news release PEA results that demonstrated (among other
things) a $2.2 billion NPV valuation."
"I am excited and encouraged with the progress that we have made in
recent months to prepare the road to production. The continued efforts
to simplify and de-risk the project are demonstrating positive results"
stated Argex COO and VP Technology, Enrico Di Cesare.
The patented closed-loop CTL Process involves the leaching of
titanium-bearing ore material in acid under conditions with both the
iron and the titanium in the ore leached into solution. The energy
efficient process operates at atmospheric pressure and does not require
pre-treatment of the ore (no oxidation and/or reduction is required).
The CTL Process operates with relatively low concentration of
hydrochloric acid and avoids the need to handle chlorine, carbon or
carbon containing chemicals at very high temperatures.
About Argex Mining Inc.
ARGEX MINING INC. has recently transitioned from a mining exploration
company to a near-term producer of commodities that the world needs:
Titanium Dioxide, Iron and Vanadium Pentoxide. With a primary goal of
advancing rapidly towards production, Argex has adopted a simple and
low-risk strategy for the scale-up of its proprietary process that
allows it to produce high purity TiO2 directly from its 100% owned deposit.
The process is running continuously at the mini-plant in Mississauga,
Ontario. The closed-loop process is environmentally friendly and
produces minimal inert tailings.
Additionally, the Company owns 100% of the Mouchalagane property, which
is a large Labrador Trough iron ore property that represents further
potential upside for the Argex shareholders.
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 release.
SOURCE ARGEX MINING INC.
For further information:
| Roy Bonnell, President and Chief Executive Officer |
Argex Mining Inc.
| Argex Mining Inc. |
| || |
| MEDIA: |
Frédéric Bérard, Vice President
HKDP Communications and Public Affairs
514 395-0375, ext.259