(DNI : TSX-Ven)
(DG7 : Frankfurt)
TORONTO, Jan. 17, 2014 /CNW/ - DNI Metals Inc. (DNI:TSX-Ven)(DG7:FSE) announces that the independent NI 43-101 Preliminary Economic Assessment Technical Report for its polymetallic Buckton Deposit (the "PEA"), Alberta, has been completed and filed to Sedar.
A summary of findings from the PEA were announced in a press release issued December 5, 2013. The full report, "Preliminary Economic Assessment For The Buckton Deposit, SBH Property, North-East Alberta", dated January 17, 2014, with an effective date of December 5, 2013, prepared by P&E Mining Consultants Inc., Apex Geoscience Ltd. and Cron Metallurgical Engineering Ltd., can be obtained from www.sedar.com and from DNI's website www.dnimetals.com.
As announced, the PEA demonstrates that the Buckton Deposit has the potential to be a significant supplier of Uranium and REE. The mining design is a low strip ratio, high tonnage co-production of Ni-U-Zn-Cu-Co-REE-Y from the Labiche and Second White Speckled formations. The metals extraction design basis, as formulated by Hatch Ltd. for the PEA, is bio-heap leaching, followed by metals extraction from the leach solution, and a process plant for separating purified individual REE oxides. The projected average annual production capacity is approximately 1 million pounds of uranium yellowcake and 5,500 tonnes of rare earth oxides, of which over 40% are made up of heavy rare earth elements. The PEA also identified a number of key opportunities which can significantly enhance economics through strategic cost reductions and/or revenue enhancements, some of which can be achieved with minimal additional testwork.
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.
DNI - TSX Venture
DG7 - Frankfurt
SOURCE: DNI Metals Inc.