The Magpie Mines Inc.
In addition to filing a National Instrument (“NI”) 43-101 Technical Report on the in-pit mineral resource estimates, the Company’s 46.7% owned Magpie Mines Inc., successfully completed the Phase2 Hydrometallurgical Pilot Plant Tests conducted at SGS Lakefield Research Limited (“SGS Lakefield”) on mineralized material from the Magpie Iron-Titanium-Vanadium-Chromium Project (“Magpie”).
The Metallurgical Tests achieved their primary objectives by producing a high-grade synthetic rutile (titanium dioxide) concentrate, which has the potential to be used for both titanium pigment and metal producers, and also confirming that the previous process test results achieved at the bench scale were reproduced at the pilot plant scale.
See Note 6 “Investments in Associates” attached to the financial statements for the years ended April 30,
2013 and 2012. The Magpie Mines Inc. commenced the Phase 3 Metallurgical bench-scale tests,
consisting of (i) upgrading titanium product obtained in Phase 1 and 2 to a higher titanium oxide (TiO2) product and (ii) selective recovery of Vanadium (V) and Chromium (Cr) using solvent extraction technique.
The Phase 4 Metallurgical Test planning will consist of a mini-pilot plant scale test for the recovery of vanadium and chrome, in addition to the production of high-grade iron oxide and acid regeneration using well established oxy-hydrolysis methods.
