Energizer Resources Releases Updated Resource Estimate; Green Giant Tonnage More Than Doubles
30 Novembre 2010 - 1:01PM
Marketwired Canada
Energizer Resources Inc. (TSX VENTURE:EGZ)(OTCBB:ENZR)(FRANKFURT:YE5)
("Energizer" or the "Company") is pleased to announce that an updated National
Instrument 43-101 ("NI 43-101") compliant resource estimate for its 100%-owned
Green Giant Vanadium Project in Madagascar has been completed.
The updated NI 43-101 resource estimate includes:
-- an indicated resource of 49.5 million tonnes at an average grade of
0.693% V2O5
-- an inferred resource of 9.7 million tonnes at an average grade of 0.632%
V2O5
A summary of the updated and expanded mineral resource estimate is presented
below at a cut-off of 0.5% V2O5.
--------------------------------------------------------------------------
Classification Tonnage V2O5 Grade
(at 0.5% V2O5 cut-off) (million tonnes) (million pounds) (%V2O5)
--------------------------------------------------------------------------
Indicated 49.5 756.3 0.693
--------------------------------------------------------------------------
Inferred 9.7 134.5 0.632
--------------------------------------------------------------------------
Rounding of tonnes as required by reporting guidelines may result in apparent
differences in tonnes, grade and metal content.
Resource Increases By More Than Double
The initial NI 43-101 resource estimate, as announced in the Company's May 11,
2010 press release, reported an indicated resource of 21.74 million tonnes at an
average grade of 0.759% V2O5 and an inferred resource of 4.15 million tonnes at
an average grade of 0.655% V2O5. The updated resource estimate represents a
total change in the indicated category of an additional 27.7 million tonnes
(+128% change) containing an additional 392.5 million pounds of V2O5 (+108%
change). The overall change in the inferred category amounted to an increase of
5.5 million tonnes (+133% change) containing an additional 74.7 million pounds
of V2O5 (+125% change).
Green Giant Deposit Now Ranks Among One of the Largest Known Deposits in the
World, 75% of the Vanadium Trend Remains Open for Drilling
This newly expanded resource estimate now places the Green Giant deposit as one
of the largest known vanadium deposits in the world.
The mineral resource is contained in three separate zones on the Green Giant
property, totaling approximately 5.3 kilometres (3.3 miles) in strike length,
and are referred to as the Jaky, Manga and Mainty Zones. Of the 21-kilometre (18
mile) stratigraphic trend of vanadium confirmed on the Green Giant property, 75%
remains open for drilling.
The Manga Zone is currently the largest zone, accounting for an indicated
resource of 37.5 million tonnes at an average grade of 0.709% V2O5 containing
586.5 million pounds of V2O5 and an inferred resource of 6.0 million tonnes at
an average grade of 0.652% V2O5 containing 86.7 million pounds of V2O5.
Pierre Desautels, P.Geo., of AGP Mining Consultants Inc. (AGP), the independent
qualified person and author of the updated NI 43-101 resource estimate
commented, "AGP believes that the near surface mineralization, as outlined by
the surface trenches and mapping, has excellent potential to expand the resource
further."
Julie Lee Harrs, President of the Company states, "With this new updated
resource estimate, we exceeded our target of identifying an additional resource
of 25 to 30 million tonnes. With this expanded resource, combined with the
metallurgical test work completed to date, we are ready to move the Green Giant
project into the next phase of development and initiate a preliminary economic
assessment."
Power Supply and Infrastructure Synergies From Nearby Sakoa Coal Project
Energizer Resources is now ready to move forward with a National Instrument
43-101 preliminary economic assessment ("PEA"), which will begin to quantify the
underlying economic parameters for the project.
The PEA will include analysis of the existing and additional infrastructure
necessary for the Green Giant project.
One important and of potential benefit to Energizer will be the development of
the adjacent Sakoa coal project, situated 30 kilometres away from the Green
Giant vanadium project. The Sakoa coal project is being developed by Asia Thai
Mining Co. Ltd., a related company of Italian-Thai Development Public Company
Limited, Thailand's largest construction company. A pre/feasibility study of the
Sakoa coal project has been completed by DRA Mineral Projects, one of
Energizer's strategic partners. The development of the Sakoa coal project would
provide the Green Giant project with infrastructure synergy opportunities,
including power and water supply, transportation routes and port facilities,
which would significantly reduce both capital and operating costs.
DRA Mineral Projects To Lead Green Giant Project Development
Energizer's strategic alliance partner, DRA Mineral Projects, a leading
engineering, project management and mine construction company based in South
Africa will be completing the Company's upcoming PEA. Having recently completed
the pre/feasibility study for the Sakoa Coal Project, DRA Mineral Projects will
provide valuable insight into these potential infrastructure synergies while
assisting the Company in the on-going discussions with Asia Thai Mining.
Green Giant Deposit To Provide High Purity V2O5 to Battery and Steel Market
The Green Giant vanadium deposit is a sedimentary-hosted deposit, which is
unique among the world's known vanadium deposits. The Green Giant deposit will
be able to produce a high-purity vanadium pentoxide (V2O5), which is required in
battery power and in battery storage for both mobile (automotive) applications
and stationary (large-scale) applications.
Vanadium Demand for Steel Growing at 7%
In addition to its ability to produce high-purity V2O5, the Green Giant project
can also be easily adapted to supply another form of vanadium, called
ferrovanadium, to the steel market where vanadium demand is growing at 7%
year-over-year and is well-established as a strengthening agent for steel.
Energizer believes that a significant amount of the demand for V2O5 will come
from the battery power and storage industry. The Company's November 17, 2010
press release detailed new developments in vanadium-based battery technology,
citing several examples of companies developing vanadium-based batteries for
automotive applications and large-scale storage applications.
Lithium-Vanadium Polymer Battery Sets Electric Vehicle Distance Record with a
6-Minute Recharge
Perhaps the most compelling breakthrough illustrating how vanadium, when
combined with lithium, creates "supercharged" batteries is the recent news by
Germany's DBM Energy. In partnership with German utility Lekker Energie, DBM
Energy equipped an Audi A2 electric vehicle with its new lithium- vanadium metal
polymer battery and set a long distance record of 603 kilometres (375 miles)
travelled on a single charge. The battery's basic electro-chemistry consists of
a metallic lithium anode and a vanadium oxide cathode. DBM Energy claims the
battery has a 97% efficiency and can be charged at virtually any electrical
socket. Plugged into a high-voltage direct-current source, the battery can be
fully charged within 6 minutes. More details can be found at www.benzev.co.nz.
Vanadium Redox Battery Manufacturer, Prudent Energy, Named a Top Cleantech Company
Prudent Energy, the manufacturer of a vanadium redox battery energy storage
system called the VRB-ESS(TM), was recently named one of the most promising
private clean technology companies poised to make a significant market impact in
the next five to ten years by the 2010 Global Cleantech 100. Prudent Energy, a
private company based in Beijing, China with offices in Washington, D.C.,
U.S.A., was selected by a committee that included well-respected organizations
in Cleantech innovation from around the world, including BASF, GE, Honeywell,
IBM, Proctor & Gamble, Siemens and Veolia, as well as venture capital companies.
With installations around the world, Prudent Energy describes its VRB-ESS(TM) as
a large capacity, advanced energy storage system with high performance and low
operating costs. Given the fact that their vanadium redox battery's electrolyte
operates at room temperature and never wears out, the company claims the total
cost of ownership is undoubtedly the lowest for any energy storage system. For
more details, please visit Prudent Energy's website at www.pdenergy.com.
Gildemeister/Cellstrom's Version of Vanadium Redox Battery called the CellCube(TM)
Cellstrom GmbH, another vanadium redox battery manufacturer, based in Austria,
was acquired in 2010 by a subsidiary of a German-based conglomerate,
Gildemeister GmbH. Cellstrom has successfully been selling vanadium redox
batteries since 2008 throughout Europe and most recently into India under the
product name CellCube(TM). Cellstrom currently sells a 10 kilowatt/100 kilowatt
hour VRB designed for uninterrupted power supply for households and factories
and plans to launch in 2011 a 200 kilowatt/400 kilowatt hour VRB designed for
solar and wind farms. According to Cellstrom, the CellCubes are modular in
design and can be easily scaled up in size to reach megawatt capacities,
suitable for power-grid applications.
Vanadium Redox Batteries Require Significant Amounts of High-Purity V2O5
Vanadium redox batteries ("VRB") require significant amounts of high purity
V2O5. Cellstrom's CellCube FB10/100 is a 10 kilowatt/100 kilowatt hour VRB
designed for uninterrupted power supply for households and factories and require
approximately 1 tonne of V2O5 each. In 2011, Cellstrom plans to launch the
Cellcube 200/400, a 200 kilowatt/400 kilowatt hour VRB designed for solar and
wind farms and requires 5 tonnes of V2O5 per battery. These batteries can be
easily scaled up in size to reach megawatt capacities, suitable for power-grid
applications.
Vanadium Use Growing in Renewable Energy Storage; Green Giant Project Positioned
to Meet This New Demand
Vanadium use is growing in renewable energy storage systems and the recent
recognition of vanadium redox batteries as a leading storage solution signals
the movement of vanadium-based technologies into the mainstream market of Green
Power.
Today, high-purity V2O5 is not readily available and the substantial amounts of
high purity V2O5 required for the production of these vanadium redox batteries
cannot be met by the current supply of V2O5. New vanadium projects, such as the
Green Giant project, will need to come online in order to meet this new demand.
With the capability to provide a high-purity V2O5 product, Energizer's Green
Giant project is uniquely positioned to meet this new demand from vanadium-based
battery power and storage and increase supply as needed. In doing so, the Green
Giant project will provide the sureness of price and sureness of supply of
vanadium that companies such as VRB manufacturers like Prudent Energy and
Cellstrom require.
AGP Mining Consultants as Qualified Person
The resource estimate was completed by AGP Mining Consultants Inc. ("AGP") and
is in conformance with the CIM Mineral Resource and Mineral Reserve definitions
referred to in NI 43-101, Standards of Disclosure for Mineral Projects. To
estimate the resource the following methods were utilized:
-- This mineral resource estimate utilized approximately 18,832 m of
diamond drill hole data from the 2008, 2009 and 2010 drill program and
was supplemented by approximately 5,928 metres of trench data from the
2008, 2009 exploration programs
-- All drill core and trench samples were analyzed using an alkaline flux
fusion digestion followed by optical emission spectrometry (ICP OES) by
Genalysis Laboratory located in Johannesburg, South Africa
-- All drill holes are diamond drill core and were sampled mostly at 1.5
metre intervals. A comprehensive QA/QC program was in place during the
drill program, which included the insertion of standards and duplicates
at regular intervals
-- Gemcom Software International, GEMS(C) Version 6.2.4 software was used
for the estimate
-- Ordinary kriging was used for all domains. The interpolation was carried
out in multiple passes with increasing search ellipsoid dimensions.
Inverse distance and nearest neighbor models were used for validation
-- Classification was based primarily on the pass number and distance to
the nearest sample. Metallurgical recoveries are not taken into account
For detailed information as to how the mineral resource was generated, please
refer to the updated resource estimate that will be filed within 45 days of this
news release on www.sedar.com under the Company's profile.
Pierre Desautels, P.Geo., of AGP Mining Consultants Inc., the Independent
Qualified Person under NI 43-101 responsible for the resource estimate, has
reviewed this release. Mr. Desautels is the author of the updated resource
estimate, which will be filed within 45 days of this news release.
About the Green Giant Vanadium Project
The Green Giant vanadium project, located in Madagascar, is 100% owned by
Energizer. The Company has a National Instrument 43-101 compliant indicated
resource estimate of 49.5 million tonnes at an average grade of 0.693% V2O5 and
an inferred resource estimate of 9.7 million tonnes at an average grade of
0.632%, making the Green Giant project one of the largest known vanadium
deposits in the world.
About Vanadium
Vanadium is well-established as a strategic metal that strengthens and hardens
alloys like steel and is positioned to play a significant role in emerging
battery technologies such as batteries for electric cars and for large-scale
energy storage. While there are some opportunities for substitution in steel
production, the same is not true for other markets, including the emerging
energy (battery) storage markets, the military and particularly in the aerospace
industry, where vanadium is irreplaceable.
About Energizer Resources
Energizer Resources Inc. is a mineral exploration and development company based
in Toronto, Canada. The Company's common shares are traded on the TSX Venture
Exchange under the symbol EGZ, on the Over-The-Counter Bulletin Board under the
symbol ENZR, and on the Frankfurt Exchange under the symbol YE5.
For more information, please visit our website at www.energizerresources.com.
Cautionary Statement: The above resource estimates were calculated in accordance
with National Instrument 43-101 as required by Canadian securities regulatory
authorities. For United States reporting purposes, Industry Guide 7 (under the
Securities Exchange Act of 1934), as interpreted by the Staff of the SEC,
applies different standards in order to classify mineralization as a reserve.
Among other things, the terms "measured", "indicated" and "inferred" mineral
resources are required pursuant to National Instrument 43-101, the U.S.
Securities and Exchange Commission does not recognize such terms. Canadian
standards differ significantly from the requirements of the U.S. Securities and
Exchange Commission, and mineral resource information contained herein is not
comparable to similar information regarding mineral reserves disclosed in
accordance with the requirements of the U.S. Securities and Exchange Commission.
Mineral resources are not mineral reserves and do not have demonstrated economic
viability. This mineral resource estimate includes inferred resources that are
normally considered too speculative geologically to have economic considerations
applied to them that would enable them to be categorized as mineral reserves.
There is also no certainty that the inferred mineral resource will be converted
to the measured and indicated mineral resource categories through further
drilling, or into a mineral reserve once economic considerations are applied.
U.S. investors should understand that "inferred" mineral resources have a great
amount of uncertainty as to their existence and great uncertainty as to their
economic and legal feasibility. In addition, investors are cautioned not to
assume that any part or all of the Company's mineral resources constitute or
will be converted into reserves.
Safe Harbour Statement: The TSX Venture Exchange does not accept responsibility
for the adequacy or accuracy of this press release issued by the Company. This
press release may contain forward-looking statements that may involve a number
of risks and uncertainties. Actual events or results could differ materially
from expectations and projections set out herein.
Forward-looking statements include, receipt of regulatory approval, statements
on the proposed use of proceeds; completion of financing on terms proposed; the
ability to raise additional funds as required; the development potential and
timetable of the Company's properties and minerals; the current and future price
of minerals the Company explores; the estimated size of mineral deposits on the
Company's properties; the realization of those mineral deposit estimates; the
timing and amount of estimated future exploration, development and production;
costs of future exploration, development and production activities; success of
exploration activities; government regulatory matters; discussion of political
and environmental risks.
Forward-looking statements are based on the opinions and estimates of management
of the Company. Forward-looking statements are subject to known and unknown
risks that may cause actual results to be materially different from stated
opinions and estimates of management. Some of the Company's more material risks
are: availability and timing of external financing; unexpected events and delays
during exploration; receipt of government and stock exchange approvals; results
of current exploration activities; future price of minerals; political risks in
the locations of the Company's properties; appreciation/depreciation of foreign
currencies relative to the United States Dollar (the Company's functional
currency) and other risks inherent in the mining and exploration industry.
While Company's management has attempted to determine the factors that could
cause actual results to differ materially from estimated results contained in
forward-looking statements, there may be other factors that cause results not to
be as anticipated. The Company provides no assurance that such forward-looking
statements will prove accurate or not materially different than projected.
Therefore readers of this and other press releases issued by the Company should
not place unreasonable reliance on stated forward-looking statements.
This press release does not constitute an offer to sell or a solicitation of an
offer to sell any of the securities in the United States. The securities have
not been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.
Grafico Azioni Agromep Sa (TSXV:AGP)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Agromep Sa (TSXV:AGP)
Storico
Da Giu 2023 a Giu 2024
