VANCOUVER, April 19, 2013 /CNW/ - Prima Fluorspar Corp. (TSX-V: PF) ("Prima" or the "Company") is pleased to announce that at the open of market today, its common shares began trading on the TSX Venture Exchange (the "TSX-V"). Prima is expanding a historic fluorspar resource* at its Liard Fluorspar Property in Northern British Columbia.
"Fluorspar (fluorite) is indispensable to our modern existence," explains Robert Bick, CEO of Prima. "We use it every day. It is an integral part of consumer products like Teflon® and GORE-TEX®, refrigeration, aluminum and steel smelting, medicines, cement and petroleum-based fuels."
"Astonishingly," adds Mr. Bick, "there are no fluorspar mines in Canada or USA. Prima's large fluorspar property in British Columbia has a historic resource, easy access and mineralization at surface. With 30 km of strike length, our geo team believes that this property has the potential to become a major fluorspar producer."
"Our management team has just the right combination of technical, marketing and financial expertise required in an early stage company. Our industry partners, Zimtu Capital Corp. and 49 North Inc. provide support critical in today's challenging markets."
HIGHLIGHTS ABOUT PRIMA'S HISTORIC RESOURCE*
- 3.2 million tonnes at an average grade of 32% fluorspar*
- Mineralization at surface
- 30 km strike length
- Metallurgical Testing: 97% CaF2*
- 22,500 ha (55,000 acres), 100%-owned claims
- Easy access, on Alaska Highway in British Columbia
- No fluorspar mines in Canada or USA
- Uses: Refrigeration, aluminum and steel smelting, consumer products like Teflon® and GORE-TEX®, medicines, cement, and petroleum-based fuels
- $2.4 billion/annum market
- North American Purchasers: Chemical Companies - Dupont, Honeywell; Aluminum Producers: Rio Tinto Alcan (Kitimat)
PRIMA MANAGEMENT TEAM
Robert Bick, President/CEO
Robert Bick is an experienced company builder. Mr. Bick is the former CEO and Executive Chairman of Evolving Gold Corp. (www.evolvinggold.com). He joined Evolving Gold when it had a market cap of less than $3 million, trading on the CNSX. During Robert's tenure, the market cap increased from $3 million to over $100 million. Evolving Gold raised over $50 million during that period, moved to the TSX-V and subsequently graduated to the TSX main board.
Andrew Davidson, Chief Financial Officer
Andrew Davidson provides extensive financial and public company knowledge to the team. Mr. Davidson is a Chartered Accountant with extensive experience in Canadian and international financial reporting standards. He has years of experience in public practice accounting focusing specifically on assurance for publicly listed enterprises. Mr. Davidson is also the CFO of 49 North Resources Inc. (http://www.fnr.ca/index.cfm), a Canadian resource investment company headquartered in Saskatchewan. Mr. Davidson currently sits as a director for Kimpar Resources Inc. and Allstar Energy Limited.
Sean Charland, Director
Sean Charland provides a critical marketing presence for Prima in Toronto. Mr. Charland is a seasoned communications professional with experience in raising capital and marketing resource exploration companies. Mr. Charland is a director of Zimtu Capital Corp., an investment issuer listed on the TSX-V. His network of financial community contacts extends across North America and Europe. Mr. Charland also serves as a CEO of Red Star Resources and Director of Arctic Star Exploration Corp.
Dean Nawata, Director
Dean Nawata contributes public market and capital finance depth to the team. Mr. Nawata has over 18 years of public market experience, nine of which he spent as a licensed stockbroker focusing on financing of junior mining and oil/gas projects with Nesbitt Burns, Research Capital Corporation, and Raymond James. Mr. Nawata currently holds a position in Business Development for 49 North Resources and is President / CEO of Olympic Resources Ltd. and Director of Big North Graphite Corp.
Jenna Hardy, Director
With over 30 years as mining industry geoscientist, Ms. Hardy supplies technical, geological expertise to the team. As a professional geoscientist, she has been involved in project coordination, regulatory and permitting issues, implementation and monitoring of environmental action plans and procedures, as well as environmental impact assessment. Ms. Hardy also serves as a Director of Commerce Resources, HFX Holdings and Argentex Mining.
Please feel free to contact me at any time [email protected] or at 604-681-1568.
For more information about Prima please visit: http://primafluorspar.com/
I look forward to hearing from you.
ON BEHALF OF THE BOARD
PRIMA RESOURCES CORP.
Disclaimer for Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements in this news release include statements about the potential of the property to become a major fluorspar producer. Actual results may differ materially from those currently anticipated due to a number of factors beyond the Company's control. These risks and uncertainties include, among other things, the risks associated with being a mineral exploration company. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
Prima Fluorspar Corp. has not undertaken an independent verification to classify the historic resource estimate quoted from a Mineral Potential Compilation Report for the BC Department of Economic Development, written by Wright Engineers Limited and H.N. Halvorson Consultants Ltd., in January 17, 1975 as a current mineral resource. Neither has Prima independently verified the results of the previous exploration work. Therefore, the historical mineral resource should not be relied upon, but the issuer believes the information to be relevant and reasonably reliable. An unknown quantity of the 3.2 million tonnes are on mineral claims outside of the current Liard Fluorspar Property. However, based on the information available, the majority of the estimate is based on the deposits located on Prima's Liard Fluorspar Property. The key assumptions, parameters and methods of the resource estimate are unknown at this time. New deposit definition drilling is needed to develop a current resource estimate on the property. Prima believes that these historical mineral resources provide a conceptual indication of the potential of the property and are relevant to ongoing exploration.
SOURCE: Prima Fluorspar Corp
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