TORONTO STOCK EXCHANGE: ORT
MONTREAL, Feb. 10, 2012 /CNW Telbec/ - Orbite Aluminae Inc. has been
informed by the representatives of the Autorité des marchés financiers (AMF) that the AMF considers that the Preliminary Economic Assessment
Technical Report released on January 12, 2012 in respect of its
Grande-Vallée project does not comply with the requirements of National
Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI
43-101). The AMF has also informed Orbite that it has until February
24, 2012 to produce a revised technical report. Orbite is reviewing
the matter and will update the market as required.
Orbite owns 100% of the mining rights on a Grande-Vallée property of
approximately 6 441 hectares, the site of an aluminous clay deposit
located 23 km south of Grande-Vallée, and a 2 600 square metre full
scale pilot plant in Cap Chat, in the Gaspé region. An NI 43-101 report
issued in August 2011 identified an Indicated Resource of about one
billion tonnes of aluminous clay in part of the deposit. The Company
also owns the intellectual property rights to a unique Canada- and
U.S.-patented process for extracting alumina from aluminous ores and
for which patents are also pending in other countries. www.orbitealuminae.com
SOURCE Orbite Aluminae Inc.
For further information:
HKDP Communications and Public Affairs
Tel.: 514-395-0375, ext. 259
Orbite Aluminae Inc.
First Canadian Capital Corp.