- SUBSTANTIAL SAVINGS IN ENERGY, CAPITAL COSTS AND SPACE
- IMPROVEMENT IN TiO2 RECOVERY
MONTREAL, June 13, 2012 /CNW Telbec/ - Argex Mining Inc. ("Argex") (TSXV: RGX) (FSE: ASV) (OTCBB: ARGEF) announced today a milestone breakthrough has been achieved to the iron recovery circuit at its pilot plant in Mississauga, Ontario where the patented CTL process is running continuously.
Continued process improvements on solvent extraction for the iron circuit have increased the iron concentration from 68 gpl to 120 gpl, significantly reducing the energy consumption and also improving the recovery of TiO2 by 3%.
These improvements will ultimately find their way into a full-scale industrial production facility.
Enrico Di Cesare, Chief Operating Officer, VP Technology commented, "Concentration by evaporation from 120 gpl to 140 gpl, which is the typical required concentration for the pyrohydrolysis acid regeneration unit, is much more energy efficient than concentrating from 68 gpl to 140 gpl. This is a major breakthrough for us and substantially saves energy, capital costs, and space. The iron-rich solution in the form of ferric chloride is then treated in the acid recovery circuit. Work is continuing with PRO (Process Research Ortech) to simplify and improve the CTL process".
The CTL process is a proprietary mineral extraction process that allows for the production of high purity (99.8% pure) pigment grade TiO2 product, which can be sold at premium prices to the end-users in the paint, plastic and coating industries.
The process is unique because of its ability to produce high-purity TiO2, Iron and V2O5 through a single process directly from the ore material. The equipment used in all parts of the process is known and readily available. The innovation of the process lies in how the equipment is used and on how the solvents and temperatures are properly balanced. The process operates at atmospheric pressure, thus avoiding the need to handle chemicals at very high temperatures.
The process is also environmentally friendly due to its high energy efficiency, low emissions and its closed-loop design, which uses relatively low levels of hydrochloric acid that is regenerated after use. The process produces minimal inert tailings from the La Blache ore deposit. Ultimately, these tailings could be used by the local construction industry for raw material.
This breakthrough and all the improvements to date will be incorporated into the feasibility study to be initiated shortly.
About Argex Mining Inc.
ARGEX MINING INC. is 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 run-of-mine material 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.
Forward-Looking Statements and Disclaimer
This press release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of historical facts contained in this press release are forward-looking information. Such statements and information may be identified by words such as "about", "approximately", "may", "believes", "expects", "will", "intends", "should", "plans", "predicts", "potential", "projects", "anticipates", "estimates", "continues" or similar words or the negative thereof or other comparable terminology. Forward-looking statements are based on the best estimates available to Argex at this time and involve known and unknown risks, uncertainties and other factors that may cause Argex's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A description of the risks affecting Argex's business and activities appears under the heading "Risk Factors" in Argex's Amended and Restated Annual Information Form dated January 14, 2011 for the fiscal year ended December 31, 2009, which is available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that Argex will derive therefrom. In particular, no assurance can be given as to the future financial performance of Argex. The forward-looking information contained in this press release is made as of the date hereof and Argex undertakes no obligation to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws. The reader is warned against placing undue reliance on these forward-looking statements.
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.
For further information:
Roy Bonnell, President and Chief Executive Officer
Argex Mining Inc.
Argex Mining Inc.
The Howard Group
Sarah Moreau, Consultant, Financial & Regulatory Affairs
514 395-0375, ext.234