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8-K - CURRENT REPORT - SCANDIUM INTERNATIONAL MINING CORP. | scy_8k.htm |
Exhibit 99.1
NEWS
RELEASE
TSX:
SCY
February
24, 2020
NR
20-02
www.scandiummining.com
SCY COMPLETES PROGRAM TO DEMONSTRATE
AL-SC MASTER ALLOY MANUFACTURE CAPABILITY
RENO, NV / ACCESSWIRE / February 24, 2020 / Scandium
International Mining Corp.
(TSX:SCY) ("Scandium International" or the
"Company") is pleased to announce it has completed a three
year, three stage program to demonstrate the capability to
manufacture aluminum-scandium master alloy (Al-Sc2%), from scandium
oxide, using a patent pending melt process involving aluminothermic
reactions.
This
master alloy capability will allow the Company to offer scandium
product from the Nyngan Scandium Project in a form that is used
directly by aluminium alloy manufacturers globally, either major
integrated manufacturers or smaller wrought or casting alloy
consumers.
RESEARCH HIGHLIGHTS:
●
Program
achieved full 2% target product quality requirement,
●
Sc
recoveries from oxide exceeded target, demonstrated in final
tests,
●
The
microstructure and metal quality meet major alloy producer's
specification.
●
Rapid
kinetics achieved, important for commercial viability,
●
Individual
testing batches done at 4kg scale, and
●
Successful
program testing forms a basis for a larger scale demonstration
facility, supporting large scale samples required for industrial
aluminum alloy trials.
DISCUSSION
The
Company has publicly acknowledged an intent to offer scandium
product in form of both oxide (scandia) and master alloy since
completing a definitive feasibility study on its Nyngan Scandium
Project in 2016. The aluminum industry largely relies on
independent master alloy manufacturers to make and supply alloying
products, including small amounts of Al-Sc 2% product, today. The
Nyngan mine scandium output will change the scale of Al-Sc2% master
alloy manufactured, globally, and the Company can utilize that
scale advantage to effectively minimize the manufacture cost of
scandium feedstock to the aluminum alloy customer. This research
program success also demonstrates a Company ability to deliver
directly to end use alloy customers a product in exactly the
customized form they wish to use, transparently, and in the volumes
required by large scale aluminum consumers.
This
program to establish an upgraded product capability for Nyngan has
been completed in three phases, over three years. Phase I in 2017
demonstrated the feasibility of producing master alloy meeting the
industrial standard 2% scandium content requirement, at laboratory
scale. Phase II in 2018 maintained that industrial quality product
standard, at bench scale (4kg/test). Phase III in 2019 showed a
capability to maintain the 2% grade product standard, to do so with
recoveries that exceeded our target levels, and to combine these
achievements with the rapid kinetics essential for low capital and
conversion costs.
The
next stage in this program will be to consider a large-scale
demonstration plant for conversion of oxide to master alloy. This
will allow the Company to optimize product form, and most
importantly, to meet the demand for larger product offers that
conform to commercial test programs. The size of the demonstration
plant is being investigated, but will be flexible in operation and
output, and will allow for much more direct customer/supplier
relationships with potential scandium product customers
globally.
George Putnam, CEO of Scandium International Mining Corp.
commented:
"This
testwork result demonstrates the Company can make the proper
scandium product, exactly as our primary aluminium alloy customers
want. This allows us to retain the all-important direct customer
relationship, and to remain responsive to customer requirements.
Most importantly, this capability will enable Scandium
International to keep the cost of our scandium feedstock product as
low as possible, and also fully under our control. We see these
capabilities as essential to proper market
development."
ABOUT SCANDIUM INTERNATIONAL MINING CORP.
The
Company is focused on developing its Nyngan Scandium Project,
located in NSW, Australia, into the world's first scandium-only
producing mine. The project owned by our 100% held Australian
subsidiary, EMC Metals Australia Pty Limited, has received all key
approvals, including a mining lease, necessary to proceed with
project construction.
The
Company filed a NI 43-101 technical report in May 2016, titled
"Feasibility Study - Nyngan Scandium Project". That
feasibility study delivered an expanded scandium resource, a first
reserve figure, and an estimated 33.1% IRR on the project,
supported by extensive metallurgical test work and an independent,
10-year global marketing outlook for scandium demand.
Willem
Duyvesteyn, MSc, AIME, CIM, a Director and CTO of the Company, is a
qualified person for the purposes of NI 43-101 and has reviewed and
approved the technical content of this press release on behalf of
the Company.
For inquiries to Scandium International Mining Corp, please
contact:
Edward
Dickinson (CFO)
Tel:
(775) 233-7328
George
Putnam (CEO)
Tel:
(925) 208-1775
Email:
info@scandiummining.com
This press release contains forward-looking statements about the
Company and its business. Forward looking statements are statements
that are not historical facts and include, but are not limited to
statements regarding any future development of the project. The
forward-looking statements in this press release are subject to
various risks, uncertainties and other factors that could cause the
Company's actual results or achievements to differ materially from
those expressed in or implied by forward looking statements. These
risks, uncertainties and other factors include, without limitation:
risks related to uncertainty in the demand for scandium, the
possibility that results of test work will not fulfill
expectations, or not realize the perceived market utilization and
potential of scandium sources that may be developed for sale by the
Company. Forward-looking statements are based on the beliefs,
opinions and expectations of the Company's management at the time
they are made, and other than as required by applicable securities
laws, the Company does not assume any obligation to update its
forward-looking statements if those beliefs, opinions or
expectations, or other circumstances, should change.
SOURCE: Scandium
International Mining Corp