The Company also takes a crucial step toward growth as it approves the latest process engineering design review
MONTREAL, July 19 /CNW Telbec/ - Exploration Orbite VSPA Inc. (TSX Venture: ORT.A) is pleased to announce it has resumed mineral exploration on its Grande-Vallée property, the site of an aluminous clay deposit in the Gaspé region. A possible extension of the argillite deposit was recently identified, although its northern and southern boundaries have yet to be determined. The Orbite team is led by professional engineer Jean-Guy Levaque, a qualified person under NI-43-101.
This year the Company plans approximately 3,000 meters of drilling divided between some 10 boreholes. This will extend the southern border of the deposit, thereby enlarging the potential pit and increasing the number of benches through deeper mining. The operation is expected to boost total tonnage without unduly increasing the waste to ore ratio.
Orbite welcomes investor relations specialist Louis Morin
The Company is also pleased to announce that a service agreement has been signed with investor relations specialist Louis Morin. His mission will be to increase the visibility of Orbite projects with the financial community and identify private and institutional investors that may wish to back these projects. Louis Morin adds his expertise to that of attorney Frédéric Bérard, who currently manages corporate and financial communications at Orbite. The agreement is renewable on mutual agreement by the parties, conditional on the approval of the TSX Venture Exchange.
Process engineering design review
On June 28 members of Orbite's executive committee and board of directors joined representatives of Company partner Alouette in reviewing the process engineering design. At this meeting engineering firm SENECA presented the work to date, which marks a key step in purchasing and building the required facilities on the Cap-Chat site.
Members attending the review also took the opportunity to revalidate all related budgets and timetables. The project is currently on track with the initial schedule. A last strategic review is planned for late August, when final implementation of the pilot process begins.
Cautionary note and forward-looking statements
This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by these forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable, but cautions the reader that these assumptions regarding future events, many of which are beyond its control, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Company. For additional information with respect to these and other factors, see the Company's quarterly and annual filings with the Canadian securities commissions. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law. This press release was reviewed and approved by geological engineer Jean-Guy Levaque.
The TSX Venture Exchange and its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) assume no responsibility for the relevance or accuracy of this press release.
SOURCE Orbite Aluminae Inc.
For further information: For further information: HKDP Communications and Public Affairs: Frédéric Bérard, Attorney, Special Advisor, Financial and Legal Affairs, Tel.: 514-395-0375, email@example.com; Louis Morin, Investor Relations Specialist, Tel.: 514-591-3988, firstname.lastname@example.org