Attached files
file | filename |
---|---|
8-K - CURRENT REPORT - SCANDIUM INTERNATIONAL MINING CORP. | scy_8k.htm |
Exhibit 99.1
NEWS
RELEASE
TSX:
SCY
February
27, 2020
NR
20-03
www.scandiummining.com
SCY Announces Joint Program With ECK Industries To Demonstrate
Impacts Of Cerium And Scandium Additions In Aluminum
Alloys
Reno, Nevada, February 27, 2020 – Scandium
International Mining Corp.
(TSX:SCY) (“Scandium International” or the
“Company”) is pleased to announce it has signed
a Program Agreement with Eck Industries (“ECK”) located in
Manitowoc, Wisconsin, to pursue novel alloy development of a
combined cerium-scandium aluminum alloy, based on previous work
done independently by the companies in this area.
The
companies intend to pursue alloy refinements in both wrought and
cast alloy applications, specifically targeting property
improvements related to strength, corrosion resistance, and
heat-working tolerance, principally in A5000 series
alloys.
PROGRAM HIGHLIGHTS:
●
Joint
economic and technical support to alloy design,
●
Joint
sharing of previous data, and new data produced from this
program,
●
Samples
production for customer trials, either as cast products, or wrought
sample shapes for various potential customers and alloy
manufacturers,
●
Initial
high value application expected to be in marine applications,
and
●
Program
work is protected by existing patent applications filed by
ECK,
DISCUSSION
Eck Industries has been working both independently and with the
Critical Materials Institute, a Department of Energy Program that
brings together four national laboratories, seven universities and
ten industrial partners to remove impediments to the
commercialization of clean energy technologies to develop A5000
series aluminum alloys with cerium additions, predominantly for
shape-casting applications, reflecting Eck’s core
manufacturing business. This work is covered by patents and patent
applications, and has demonstrated novel alloy compositions that
are superior in terms of heat-working tolerance, well beyond
typical aluminum castable alloy performance. Key results have been
previously publicly disclosed by Eck.
SCY has been working for a number of years to develop A5000 series
aluminum alloys with scandium additions, predominantly for wrought
sheet and extrusion applications, to support use in aerospace,
automotive and marine applications.
SCY and ECK have recognized, after comparing data, that cerium and
scandium both improve similar properties in A5000 series (magnesium
family) alloys, but they do so in different ways and to differing
degrees, and they are typically additive in combination. This has
led the two companies to recognize that the target property
improvements we were each seeking could potentially be reached
through combinations of these additives and combination of our
respective R&D programs. The companies initially formed an
association through a letter of intent in 2018, founded on interest
in scandium for cast alloy applications. This current program
represents a maturation of the thinking around how well cerium and
scandium can be combined to both improve strength and improve
properties beyond thresholds that effectively limit aluminum alloy
use today. These improvements are now recognized as potentially
applicable in all forms of aluminum alloy use; cast, wrought, and
extrusion.
George Putnam, CEO of Scandium International Mining Corp.
commented:
“This
is a truly exciting program because it investigates the synergistic
impact of two winning alloy additives for aluminium, and shows
every promise of breaking boundaries in important areas. These
alloys won’t make challenging production demands on alloy
producers, and we see numerous high volume existing applications
where they can represent a better, property-driven, alloy
choice.”
David Weiss, VP Engineering & Technology, Eck Industries Inc.
commented:
“We
have been pursuing scandium as an alloy additive almost as long as
we have been pursuing cerium. Cerium has proven to be a really
novel change in the casting space, and scandium represents a
powerful enhancement to that change. This program brings us an
expanded understanding of scandium behavior, but also more tightly
aligns us with a group that has scandium market understanding that
extends well outside our traditional casting
environment.”
ABOUT ECK INDUSTRIES INC.
Eck
Industries Inc. was founded in 1948 (as Eck Foundries) to service
orders from Harley-Davidson, Wisconsin Motors, West Bend Outboard
and Johnson Motors. Today
Eck Industries operates a 210,000 sq. ft. facility with over 250
employees, and 110 customers, shape-casting commercial aircraft
parts, automotive and trucking cast parts, military drivetrain
casings, marine propulsion system castings, and military aerospace
components.
Eck is
known in the casting industry as an innovator. They employ over
seven different molding techniques, including gravity feed,
precision low pressure systems, permanent mold casting, and direct
squeeze casting.
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.
Edward
Dickinson (CFO)
Tel:
(775) 233-7328
George
Putnam (CEO)
Tel:
(925) 208-1775
Email:
info@scandiummining.com
For inquiries to Eck Industries, Inc., please contact:
David
Weiss (VP Engineering/Technology)
Tel:
(920-682-4618 )
Email:
david.weiss@eckindustries.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.