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
Appendix 4D & Half-Year Accounts 31 December 2024
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Provaris Energy
Investor Insight
Provaris presents a unique and attractive investment proposition in the rapidly expanding green hydrogen sector in Europe. With its proprietary technology, strategic partnerships and integrated business model, Provaris is well-positioned to capitalize on the growing demand for clean energy solutions.
Company Highlights
- Provaris is a leading innovator in the green hydrogen sector, leveraging its proprietary compressed hydrogen technology to develop sustainable, clean energy supply chains across Europe.
- The company combines proven technology and unique IP for cost-effective hydrogen storage and transport solutions, with a first-mover advantage through its proprietary ship design and low-cost delivery.
- Provaris has established strong strategic partners across Europe, enhancing its credibility in delivering hydrogen to market In addition to green hydrogen, the company is leveraging its tank IP for application into the established CO2 storage and shipping market.
Overview
Provaris (ASX:PV1), a leading innovator in the green hydrogen sector, is well-placed to become integral to the European green hydrogen supply chain through its groundbreaking compressed hydrogen solutions. The company focuses on developing regional projects that span the entire value chain, from production to export, with a particular emphasis on delivering hydrogen with the highest energy efficiency and the lowest cost.
With a vision to develop a portfolio of integrated green hydrogen projects, Provaris leverages its proprietary tank IP and innovative ship design, with a focus on collaborating with world-class partners.
Compression supports the development of simple, scalable and energy-efficient green hydrogen supply chains for the European market.
Provaris stands at the forefront of the green hydrogen revolution, dedicated to developing innovative and efficient supply chains for zero-carbon energy in the European region. With its rapid adoption of green hydrogen, the European market presents a golden opportunity for Provaris. As countries across the continent seek to decarbonize their economies, the demand for sustainable energy sources has skyrocketed. Provaris’ use of compressed hydrogen technology offers a compelling solution to the logistical challenges associated with hydrogen distribution, replacing complexity with simplicity to lower the delivered cost.
Core Product: H2Neo Carrier
At the heart of Provaris’ innovative H2Neo carrier solution is its proprietary compressed hydrogen technology. The H2Neo offers a more efficient and cost-effective alternative to traditional methods of hydrogen storage and transport. These carriers are designed to address the growing global demand for hydrogen while overcoming the logistical challenges associated with green hydrogen distribution.
Key Features and Benefits
- Enhanced Safety: Provaris’ compressed hydrogen technology prioritizes safety in storage and transportation.
- Cost-effectiveness: By eliminating the need for complex liquefaction or ammonia synthesis processes, the company's solutions reduce overall costs.
- Scalability: The technology is adaptable to various project sizes, from regional supply chains to large-scale international exports.
- Environmental Sustainability: Compressed green hydrogen aligns with global efforts to reduce carbon emissions and transition to cleaner energy sources.
Recent Concept Design Study reaffirms simplicity and efficiency of compressed hydrogen enables low-cost supply for Europe.
Innovative Vessel Designs
Complementing its innovative compressed hydrogen technology, Provaris is developing new vessel designs specifically tailored for hydrogen transport. These specialized ships are engineered to safely and efficiently carry compressed hydrogen across maritime routes, opening up new possibilities for international green energy trade.
CO2 Storage and Transport
As part of its commitment to sustainable energy solutions, Provaris is expanding its portfolio to include CO2 storage technologies. This strategic move aligns with the company's core competencies in gas handling and storage, while addressing the growing demand for large scale CO2 storage and transport solutions in the European market, and beyond.
Provaris is leveraging its expertise in compressed gas handling to develop innovative CO2 solutions, through the following strategies.
Adapting Hydrogen Tank Designs: The company is modifying its proprietary compression systems to efficiently capture and store CO2 from industrial processes.
Collaboration with Global Partner: Provaris announced a Joint Development Agreement with Yinson Product AS, a global energy infrastructure and technology company, which is developing CO2 infrastructure and supply chains.
Extension to Onshore Storage Solutions: Utilizing its experience in gas storage, Provaris is developing land-based facilities for intermediate CO2 storage before permanent sequestration.
Strategic Partnerships
At the forefront of Provaris Energy's European strategy is a groundbreaking Memorandum of Understanding (MoU) with Norwegian Hydrogen and Germany-based international energy company Uniper Global Commodities. This tripartite agreement marks a pivotal step in developing hydrogen supply chains, leveraging each partner's unique strengths.
The collaboration strategically capitalizes on the Nordic region's geographical advantages, facilitating efficient hydrogen distribution across Europe, with a particular focus on the German market. Germany is reliant on the import of over 70 percent of its hydrogen demand by 2030. This partnership not only underscores Provaris' role as an enabler for hydrogen transport at scale, but also a commitment by Uniper to support the development of Provaris’ unique approach.
A significant milestone is expected in the December 2024 quarter, including a maiden Term Sheet for supply and offtake.
Provaris also has a joint development agreement with Yinson Production, a global energy infrastructure and technology company, to explore CO₂ storage and marine transportation solutions, leveraging Provaris' hydrogen tank technology for enhanced carbon capture capabilities.
In The Netherlands, Provaris is collaborating with Global Energy Storage (GES) to develop a bulk-scale hydrogen import facility within Rotterdam’s global energy hub. The agreement involves the completion of a comprehensive prefeasibility study to demonstrate the technical and economic viability of berthing and unloading of Provaris’ H2Neo compressed hydrogen carriers. Provaris will be responsible for the transportation of the hydrogen in the H2Neo carriers and GES will be responsible for the discharge and injection into the hydrogen grid.
Management Team
Martin Carolan – Managing Director & CEO
Greg Martin – Chairman
Andrew Pickering – Non-executive Director
David Palmer – Non-executive Director
Per Roed – Chief Technical Officer
Mats Fagerberg – Business Development, Europe
Garry Triglavcanin – Product Development Director
Norman Marshall – Group Commercial Manager
John Stevenson – Group Financial Controller
Jessica Roed – Operations Manager, Norway
December 2024 Quarterly Activities & Appendix 4C Cashflow
Provaris Energy Ltd (ASX: PV1, Provaris, the Company) is pleased to provide the following summary of the Company’s development activities for the quarter that ended 31 Dember 2024.
HIGHLIGHTS OF THE QUARTER
Term Sheet with Uniper and Norwegian Hydrogen for supply and offtake is a breakthrough validation milestone
- Executed Term Sheet outlines the delivery of 42,500 tonnes per year of green hydrogen to Uniper, transported via Provaris’ H2Neo compressed hydrogen carriers. Deliveries could begin in early 2029 and will extend for a minimum of 10 years, establishing Europe’s first large-scale regional hydrogen marine transport project.
- Provides the basis of negotiating a binding Hydrogen Sale and Purchase Agreement which is targeted for June 2025, and a catalyst to mature discussions with shipyards and owners on shipping.
- Provaris and Norwegian Hydrogen continue to collaborate on the development of the supply of RFNBO compliant hydrogen from the Nordics.
- Ongoing work with Uniper on the optimal shipping schedule and import terminal solutions to ensure flexible and efficient transport.
Positive advancements in European supply chain developments continued in 2024
- Demonstrated compliance with Europe’s Renewable Energy Directive II (RED II) emissions standards for bulk hydrogen shipping using its proprietary H2Neo carrier on a round-trip between Norway and Germany.
- Advanced the conceptual design with Global Energy Storage (GES) of an initial 40,000 tpa compressed hydrogen import project in Rotterdam, including options for hydrogen storage at the terminal and connection to the Hynetwork Netherlands H2 network.
- Continued to qualify and advance a pipeline of supply chain opportunities in the European region suitable for Provaris’ carriers to deliver hydrogen at a superior cost to alternatives such as ammonia.
Commenced innovative CO2 Tank design with Yinson Production AS for bulk storage and shipping
- Commenced collaboration with Yinson on the technical design for an innovative large capacity CO2 tank design for bulk storage and marine transport of liquid CO2, provides a new market to commercialise Provaris tank IP.
- Concept Design phase progressed with the completion of a Basis of Design and Production Concept, including material selection and development of a Structural Design Model.
- Received USD 200,000 payment from Yinson for Technology Service Fees related to the Concept Design, in addition to external project costs being met.
- Yinson has a long track record in the construction of floating production, storage, and offloading vessels, with the strategy and financial backing to support the development of comprehensive carbon capture and sequestration supply chains.
Provaris Managing Director and CEO, Martin Carolan, commented:“The execution of a Term Sheet for hydrogen supply and offtake with Uniper is a breakthrough commercial milestone for Provaris, validating our focus on Europe to be the first regional market for bulk supply and recognising the benefits of our approach and delivered cost advantage in scaling hydrogen supply using compression.
We have seen this milestone catalyse several discussions with stakeholders and industry partners on other supply chain proposals and industry partners and an overall increase in activity going into 2025.
The diversification into the CO2 supply chain is now underway with the support and collaboration of a strong partner in Yinson, a leader in the offshore industry. Progress is being made on a innovate CO2 tank that could be a game- changer for the industry, which is advanced with transport infrastructure but still requires cost and transport efficiency to economically scale-up.”
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This article includes content from Provaris Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Term Sheet for Hydrogen Supply and Offtake with Uniper
Provaris Energy Ltd (Provaris; ASX:PV1) is pleased to advise the collaboration with Uniper Global Commodities SE (Uniper) and Norwegian Hydrogen AS has advanced to the execution of a conditional Term Sheet for the supply, transport and offtake of RFNBO compliant hydrogen. The Term Sheet provides the basis of negotiating a binding Hydrogen Sale and Purchase Agreement (Hydrogen SPA) which is targeted for June 2025.
Highlights:
- Provaris, Uniper and Norwegian Hydrogen sign a conditional Term Sheet for hydrogen supply, transport and offtake.
- Agreed Key Terms and Conditions to form the basis of negotiating a binding Hydrogen SPA, targeted for June 2025.
- Annual volume of 42,500 tonnes per year of RFNBO1-certified hydrogen to be delivered as gaseous compressed hydrogen using Provaris’ H2Neo carriers.
- Uniper Global Commodities SE will be the buyer of hydrogen at an agreed fixed price and responsible for the receiving terminal in North-Western Europe for delivery.
- Commencement of cargos deliveries is targeted for early-2029, for a minimum term of 10-years, making it Europe’s first regional hydrogen marine transport project at scale.
- Term Sheet for supply of hydrogen using Provaris carriers demonstrates Uniper’s commitment to a portfolio of supply sources, including a focus on supply from the Nordic Region.
- Provaris’ approach to hydrogen supply and transport provides a standardized, efficient and flexible approach to scaling hydrogen supply, which is exactly what Germany and Europe needs to meet its 2030 decarbonisation targets.
Provaris’ Managing Director and CEO, Martin Carolan, stated: “We are delighted to see the collaboration has progressed to a Term Sheet for hydrogen supply and offtake. This represents a key milestone for Provaris and validation towards developing regional bulk-scale hydrogen supply chains within Europe using Provaris’ H2Neo compressed hydrogen carriers.”
Norwegian Hydrogen CEO, Jens Berge, added: “We’re very excited about this tri-party collaboration, and it’s rewarding for all three parties to see our efforts progress into increasingly concrete and advanced stages”
Uniper Global Commodities SE, Senior Vice President - New Energies Origination, Benedikt Messner, commented: “We think that the innovative transport concept by Provaris might be a solution to connect commercially interesting hydrogen supply locations with our core markets and look forward to the continuation of our collaboration.”
Compression Replaces Complexity with Simplicity to Lower the Delivered Cost of Hydrogen
Analysis by the collaboration partners has highlighted that when customer demand is for hydrogen (not a derivative), regionally sourced hydrogen from the Nordics, transported through Provaris’ compressed hydrogen carriers, provides an efficient and cost-effective supply chain, limiting the losses in the entire chain from electrolyzer through to the distribution pipeline in Europe.
Lowering the energy consumption over the entire supply chain results in more renewable energy available for hydrogen production and higher volumes delivered.
Hydrogen Supply Chain Development
Provaris and Norwegian Hydrogen are collaborating on the development of the supply of RFNBO compliant hydrogen, which will be stored and transported using Provaris’ H2Neo carriers. Work is underway to outline the preferred sites in the Nordics, including Norway and Finland. Sites with a detailed feasibility include the FjordH2 Project located in the Alesund region, Norway.
Based on the proposed hydrogen volumes and shipping distance, the supply chain’s storage and shipping infrastructure using Provaris’ proprietary shipping solutions will include one (1) H2Leo barge storage at the production site, with a capacity of 450 tonnes of compressed hydrogen at 250 barg pressure, and two (2) H2Neo hydrogen carriers with an individual storage capacity of 450 tonnes of compressed hydrogen at 250 barg pressure. Provaris continues to progress both the H2Neo and H2Leo towards Final Class approvals in the first half of 2025.
Uniper will be responsible for the selection and development of the import terminal and are working with Provaris to outline the capital and operating equipment to discharge the H2Neo carriers, which includes an assessment of optimal storage and connection to the European Hydrogen Backbone for distribution to industrial sectors. Simplicity of port infrastructure provides for the flexibility of nominating one or more entry ports.
The Term Sheet remains conditional upon, among others, the negotiation and execution of a fully termed Hydrogen SPA and obtaining all necessary approvals.
Illustration of the Regional Supply locations from the Nordic Region into North-West European ports with hydrogen import development plans linked to the future development of Germany’s core hydrogen network
Source: Provaris Energy
Click here for the full ASX Release
This article includes content from Provaris Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Progress Update on Hydrogen Supply Chain and Prototype Tank Activities
HIGHLIGHTS:
- Significant progress made on finalising a Term Sheet with Uniper and Norwegian Hydrogen for a Hydrogen Sale and Purchase Agreement (SPA) outlining key commercial terms, including targeting a 10-year offtake for over 40,000 tonnes per annum of hydrogen. Execution is imminent and expected to be executed after the European winter holiday period.
- Completion of the Fiska Facility sale expected around 1st January 2025 will enable Provaris to move forward with a lease agreement with the new owners and finalise the purchase of robotic laser- welding requirement to restart its Prototype Tank fabrication and testing program.
Term Sheet for Hydrogen Supply and Offtake progressing towards execution
During December 2024, Provaris , together with Uniper and Norwegian Hydrogen, made significant strides towards the finalization of a Term Sheet that outlines the key terms for negotiation of a long term Hydrogen SPA. This agreement targets a 10-year offtake contract for over 40,000 tonnes per annum of renewable green hydrogen from the Nordics to Germany.
The Term Sheet represents a critical milestone in Provaris’ plans to establish reliable, long term, and low cost hydrogen supply utilising Provaris’ proprietary H2Neo carriers and H2Leo barge technology.
The completion of the Term Sheet is imminent however final execution may be slightly delayed by the winter holiday period in Europe, which concludes on 2 January 2025. The Term Sheet also supports discussions established with shipyards for newbuilds and shipowners for Time Charter of the carriers.
Provaris and Uniper continue to focus on optimal shipping, compression, and import terminal solutions in North-West Europe, ensuring a flexible and efficient transport network. The collaboration with Norwegian Hydrogen, including the Fjord H2 project and other Nordic sites, aims to provide RFNBO-compliant hydrogen delivered in compressed form. These initiatives support Uniper’s hydrogen portfolio requirements and align with Provaris’ vision of delivering cost-effective, low-emission supply chains from production to end-user markets.
Restart of Prototype Tank Program at Fiskå Facility and completion of final Class Approvals.
Provaris has maintained regular engagement with the secured lenders and their appointed Advisor regarding the ongoing sale process of the Fiskå Facility and associated assets. While the process has taken longer than initially anticipated progress has been achieved over the past 6 weeks with finalization and title transfer to the new owner anticipated on or around 1st January 2025.
Securing a lease agreement for a portion of the Fiskå Facility’s production floor and associated office space will provide for a resumption of the Prototype Tank fabrication and testing program. The lease is close to finalization and will provide ample room for future growth, including the potential production of small-scale hydrogen storage tanks that can be an important step towards improving the operational economics for industrial hydrogen users.
Concurrently, Provaris has advanced negotiation of the key terms for an asset purchase agreement to acquire the installed Production Cell (including robotic arms, laser-hybrid welding equipment, pedestals, jigs and related tools) essential for the Prototype Tank construction. Owning these valuable production assets and associated intellectual property will strengthen Provaris’ manufacturing capabilities in Norway and potential licensing opportunities within Europe and Asia.
Click here for the full ASX Release
This article includes content from Provaris Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Payment under JDA with Yinson to develop CO2 storage and marine transport solutions
Provaris Energy Ltd (Provaris, ASX.PV1) is pleased to provide an update to shareholders on the Joint Development Agreement (JDA) with Yinson Production Offshore Pte Ltd (Yinson), as announced on 1 October 2024.
Yinson has made a payment of USD 200,000 related to Technical Service Fees for Provaris’ provision of its background IP and other technical information and services for the CO2 Tank project scope of work under the JDA, which commenced in October 2024. The agreed project scope and timetable for concept design activities runs into Q1 2025 where an update will be provided in conjunction with Yinson.
Background to the JDA for new CO2 Tank design
As announced on 1 October 2024, Yinson and Provaris are jointly evaluating the technical and economic viability of adapting Provaris’ proprietary tank design for compressed hydrogen to develop innovative and cost competitive alternatives for bulk-scale storage and transport of liquid CO2. The collaboration will also assess the potential for other gases such as ammonia.
Currently, there is no ship transport of CO2 in a low pressure and temperature range suitable for long sailing distances and large cargo volumes. This collaboration aims to help develop a new CO2 Tank design solution that will address current CO2 transit and storage limitations.
The development of CO2 storage and transport infrastructure is crucial for the widespread deployment of carbon capture, which is a critical pillar in meeting global emission reduction targets. The design of bulk scale CO2 Tanks is important for maximizing the amount of CO2 that can be stored and transported in a single cargo.
Provaris is being advised by the Energy Infrastructure Group, Clarksons Norway AS.
Click here for the full ASX Release
This article includes content from Provaris Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Provaris Energy: Enabling Clean Energy Supply Chains via Innovative Hydrogen, CO2 Storage and Transport Solutions
Provaris (ASX:PV1), a leading innovator in the green hydrogen sector is well-positioned to be an important part of the European green hydrogen supply chain through its groundbreaking compressed hydrogen solutions. The company's proprietary tank IP and innovative ship design support its vision to develop a portfolio of integrated green hydrogen projects.
Provaris’ innovative H2Neo carrier solution offers a more efficient and cost-effective alternative to traditional methods of hydrogen storage and transport. These carriers are designed to address the growing global demand for clean energy while overcoming the logistical challenges associated with green hydrogen distribution.
Provaris is expanding its portfolio to include CO2 storage technologies, a move that aligns with the company's core competencies in gas handling and storage, while addressing the growing demand for large scale CO2 storage and transport solutions in the European market, and beyond.
Company Highlights
- Provaris is a leading innovator in the green hydrogen sector, leveraging its proprietary compressed hydrogen technology to develop sustainable, clean energy supply chains across Europe.
- The company combines proven technology and unique IP for cost-effective hydrogen storage and transport solutions, with a first-mover advantage through its proprietary ship design and low-cost delivery.
- Provaris has established strong strategic partners across Europe, enhancing its credibility in delivering hydrogen to market
- In addition to green hydrogen, the company is leveraging its tank IP for application into the established CO2 storage and shipping market.
This Provaris Energy profile is part of a paid investor education campaign.*
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Cotec Holdings Corp. And McGill University Commence Project Wavecracker(TM) Targeting Application of Microwave Techology To Accelerate Sulphide Copper Leaching
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to announce it has entered into a joint collaboration and investigation agreement with McGill University, Québec, Canada ("McGill"). The Project, "WaveCrackerTM" will investigate extended applications of microwave technologies with the aim of improving low-carbon, economic recovery of valuable metals from a range of mineral targets, with a starting focus on Copper recoveries particularly in advanced sulphide leaching applications. This collaboration builds upon, and extends, domain knowledge with new learnings and, in combination with other technologies, offers the potential for the low-carbon, low cost, production of "new" copper metal.
As part of the collaboration in the Project, CoTec will leverage on McGill's considerable experience in mineral processing and depth of research knowledge in the field of applied microwave technologies over the last 30 years.
Julian Treger, CoTec CEO commented; "We are very pleased with this collaboration, as McGill is a world-renowned mineral processing center, and we are very exited about the potential of WaveCrackerTM in copper sulphide extraction. CoTec is focused on technologies which leach low-grade primary copper sulphides, such as chalcopyrite, and copper waste material using a proprietary high throughput inorganic leaching technology Ceibo. We see the potential for using microwaves on copper sulphide waste to pre-condition the materials prior to the leaching process. Microwave pre-conditioning causes stresses and micro fractures in the rock, potentially increasing permeability and copper recoveries".
Professor Kristian Waters, McGill commented; "The agreement to collaborate with CoTec provides an exciting opportunity to work with an extremely experienced industrial team in copper extraction. The guidance provided by CoTec in developing WaveCracker™ will be an important part of our Project. McGill has a track record of developing new and innovative mineral processing technologies, and this agreement significantly enhances the university's capability to develop microwave pre-conditioning targeting copper sulphide leaching processes."
About CoTec
CoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange ("TSX- V") and the OTCQB and trades under the symbol CTH and CTHCF respectively. CoTec Holdings Corp. is a forward-thinking resource extraction company committed to revolutionizing the global metals and minerals industry through innovative, environmentally sustainable technologies and strategic asset acquisitions. With a mission to drive the sector toward a low-carbon future, CoTec employs a dual approach: investing in disruptive mineral extraction technologies that enhance efficiency and sustainability while applying these technologies to undervalued mining assets to unlock their full potential. By focusing on recycling, waste mining, and scalable solutions, the Company accelerates the production of critical minerals, shortens development timelines, and reduces environmental impact. CoTec's strategic model delivers low capital requirements, rapid revenue generation, and high barriers to entry, positioning it as a leading mid-tier disruptor in the commodities sector.
For further information, please contact:
Braam Jonker - (604) 992-5600
Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements" which involve risks and uncertainties, including statements relating to the WaveCrackerTM agreement and its potential to open up new investment opportunities for the Company as well as management's expectations with respect to other current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements, due to known and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social and transport disruptions. For further details regarding risks and uncertainties facing the Company please refer to "Risk Factors" in the Company's filing statement dated April 6, 2022, a copy of which may be found under the Company's SEDAR profile at www.sedar.com. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release and are encouraged to read the Company's continuous disclosure documents which are available on SEDAR at www.sedarplus.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cotec Holdings Corp. Provides Operational Update
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to provide an overview of recent operational achievements and key performance targets for 2025. Over the past year, CoTec has accelerated its transition from investment into project implementation and operational deployment, particularly focusing on its HyProMag USA LLC permanent magnet recycling project and the reclamation of the Lac Jeannine iron ore tailings facility based in Quebec, Canada (Lac Jeannine).
2024 was a transformative year for CoTec during which two independent technical studies were completed, establishing a solid foundation for revenue generation targeted for early 2027. Additionally, significant progress was achieved by CoTec's investments, including MagIron LLC which is working towards the re-start of its Plant 4 iron ore concentrator in Minnesota, USA and Ceibo, signing a partnership agreement with Glencore plc's Lomas Bayas Mining Company to deploy Ceibo's proprietary leaching technologies.
By focusing on rare earth recycling, green steel, and sustainable copper extraction, CoTec is addressing critical supply chain vulnerabilities for North America and its allies. Our assets are based in the USA, European, Canadian and UK markets, all tier one jurisdictions, and our largely US dollar-based portfolio provides a natural hedge against currency weakness outside of the USA.
Julian Treger, CoTec CEO commented; "2024 was a milestone year for CoTec as we built the operational foundation for what soon will be a revenue generating company. The Board of Directors and management are excited for 2025 and continue to support the Company through the purchase of shares in the market and direct financial support, demonstrating their confidence in the CoTec value proposition and our ability to deliver superior returns to our shareholders. We recognize the material difference between our sum of the parts valuation and our market capitalization, and we are working hard to create market awareness and support for our stock to close this value gap."
"We enter 2025 with clear objectives and confidence in our ability to execute on our target of being a resource producing company by early 2027, merely 5 years after founding the Company. CoTec is well positioned as a sustainable mining company of the future addressing the requirements of critical mineral supply chains and we continue to work closely with our partners and stakeholders to address legacy assets and implement growth prospects from previous low value opportunities."
Recent Highlights
Corporate
- Completed independent technical studies on HyProMag USA and Lac Jeannine, valuing CoTec's undiluted, attributable interest in these two projects at over CAD$300 million1.
- Directors and management acquired more than 600,000 CoTec shares in the market during H2, 2024, demonstrating confidence in the Company's long-term value proposition.
- Secured a CAD$4.5 million convertible loan facility from Kings Chapel International Limited, a company associated with CoTec CEO Julian Treger. The loan is convertible into CoTec stock at 75c per share, a significant premium to the market price at the time.
- Engaged Peter Epstein and Torrey Hills Capital to assist the Company in its investor relations and market awareness efforts.
Projects
HyProMag USA LLC (60.3% ownership)
- Completed independent feasibility study with NPV7% of US$262 million, real IRR of 23% and payback period of 3.9 years at current market prices2.
- NPV7% US$503 million, real IRR of 31% and payback of 3.1 years using forecast pricing.
- Initiated EPCM contractor selection to undertake detailed design, engineering and project construction.
- Engaged with USA Government and commercial financial institutions for potential funding of the project.
- Advanced discussions with numerous potential suppliers and off-takers.
- Showcased HyProMag's rare earth magnet recycling and manufacturing projects at the Minerals Security Partnership meeting in Brussels.
- Maginito Limited secured exclusive agreement with Inserma to commercialise automated preprocessing of hard disc drives, loudspeakers and electric motors for all HyProMag operations.
Lac Jeannine (100% ownership)
- Completed preliminary economic assessment with NPV7% of US$59.5 million and real IRR of 30%3.
- Defined an Initial Inferred Mineral Resource of 73 million tonnes (Mt) at 6.7% total Fe for 4.9 Mt of contained total Fe.
- Identified tailings material surrounding the Inferred Mineral Resource ("Adjacent Tailings") that, if confirmed by drilling and analysis, could potentially add 50 to 70 Mt to the project.
- Commenced process to appoint a drilling contractor to complete infill drilling of 2024 results and expansion drilling on Adjacent Tailings.
- Engaged stakeholders, including First Nations and Investment Quebec, to advance permitting and community support.
Key Operational Targets for 2025
HyProMag USA
- Appoint US based EPCM contractor.
- Complete detailed design and engineering and confirm notice to proceed.
- Ordering of long-lead items and sign lease/acquire property in Fort Worth, Texas where the main project facility will be based.
- Application for all relevant permits and securing off-take and supply contracts.
- Secure financing for the project (Government & commercial) and commence construction.
Lac Jeannine
- Complete infill drilling to upgrade and expand mineral resources.
- Complete a Request for Proposal process for Feasibility Study.
- Commission Feasibility Study.
- Apply for all relevant permits and obtain support from all relevant stakeholders.
Other
- Secure a copper asset opportunity with Ceibo technology.
- Invest in two further technologies complementary to our existing portfolio.
- Build out organisational technical capacity whilst ensuring operational efficiency, and value creation.
The Independent Qualified Person as defined by NI 43-101 for the Lac Jeannine Mineral Resource, Mr. Christian Beaulieu, P.Geo., is a member of l'Ordre des géologues du Québec (#1072). The Qualified Person has reviewed and approved the scientific and technical content of this announcement relating to the Lac Jeannine Mineral Resource.
About CoTec
CoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange ("TSX- V") and the OTCQB and trades under the symbol CTH and CTHCF respectively. CoTec Holdings Corp. is a forward-thinking resource extraction company committed to revolutionizing the global metals and minerals industry through innovative, environmentally sustainable technologies and strategic asset acquisitions. With a mission to drive the sector toward a low-carbon future, CoTec employs a dual approach: investing in disruptive mineral extraction technologies that enhance efficiency and sustainability while applying these technologies to undervalued mining assets to unlock their full potential. By focusing on recycling, waste mining, and scalable solutions, the Company accelerates the production of critical minerals, shortens development timelines, and reduces environmental impact. CoTec's strategic model delivers low capital requirements, rapid revenue generation, and high barriers to entry, positioning it as a leading mid-tier disruptor in the commodities sector.
For further information, please contact:
Braam Jonker - (604) 992-5600
Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements" that involve risks and uncertainties, including statements relating to management's expectations with respect to CoTec's ability to become a cash-flow generating company and when that will occur, the potential value of the Lac Jeannine and HyProMag USA projects and its current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. For further details regarding risks and uncertainties facing the Company please refer to "Risk Factors" in the Company's filing statement dated April 6, 2022, a copy of which may be found under the Company's SEDAR+ profile at www.sedarplus.com and its other public disclosure documents.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
1Based on indicative NPV7% of US$59.5 million as per preliminary economic assessment of the Lac Jeannine project and 100% ownership by CoTec and NPV7% of US$262 million as per the feasibility study of HyProMag USA and 60.3% CoTec equity interest.
2For further details on the feasibility study, please refer to CoTec's November 25, 2024, press release.
3For further details, please refer to the technical report entitled "Mineral Resource Estimate, Preliminary Economic Assessment and NI 43-101 technical report for CoTec's Lac Jeannine Fe Tailings Project, Québec, Canada" dated August 5, 2024 and having an effective date of March 19, 2024 prepared by Addison Mining Services Ltd., JPL GeoServices Inc., Soutex Inc., Amerston Consulting Ltd. and Axe Valley Mining Consultants Ltd. A copy of the technical report is available under CoTec's profile on SEDAR+ (www.sedarplus.com) and the Company's website.
High-purity Silica: Key Material Powering Tech, Solar and Investment Growth
Silica, or silicon dioxide, is a fundamental component in various industries, serving as a critical material in applications ranging from construction to high-tech sectors.
Its versatility and unique properties make it indispensable in modern manufacturing and technology. However, beyond its industrial significance, silica represents a compelling investment opportunity, particularly in its high-purity form.
As the global economy transitions toward clean energy, advanced electronics, and next-generation communication technologies, the demand for high-purity silica is skyrocketing. Companies that can secure and supply this essential raw material stand to benefit from long-term growth and increasing market valuations.
For investors seeking exposure to key materials that drive innovation and sustainability, understanding the silica market, particularly the role of high-purity silica in industries like semiconductors and solar panels, is crucial.
This article explores the strategic value of silica, current market trends, and how companies are capitalizing on the growing demand for this critical resource.
Introduction to silica and its uses
Silica exists in several forms, with quartz being the most common crystalline variant. High-purity silica, characterized by minimal impurities, is essential in industries that demand exceptional material performance.
Key applications include:
- Glass manufacturing: High-purity silica is a primary raw material in producing various glass types, including those used in optics and electronics.
- Construction: Silica is a vital component in concrete and other building materials, contributing to structural integrity and durability.
- Electronics: In the semiconductor industry, high-purity silica is used to manufacture silicon wafers, which are foundational in electronic devices.
- Renewable energy: Silica is crucial in producing photovoltaic cells for solar panels, playing a significant role in harnessing solar energy.
Market trends and demand drivers
The global demand for high-purity silica is experiencing significant growth, driven by several factors:
- Semiconductors and electronics: The proliferation of electronic devices and advancements in technology have led to increased demand for high-purity silica in semiconductor manufacturing.
- Renewable energy: The shift towards sustainable energy sources has amplified the need for high-purity silica in solar panel production.
- 5G infrastructure: The rollout of 5G technology necessitates high-quality materials, including high-purity silica, to ensure optimal performance of communication systems.
It’s particularly noteworthy that high-purity silica is indispensable in renewable energy technologies, particularly in the production of photovoltaic cells for solar panels. Its properties enable efficient energy conversion, contributing to reduced carbon footprint and supporting global sustainability goals. As the world intensifies efforts to combat climate change, the demand for high-purity silica in renewable energy applications is expected to rise substantially.
While demand for silica continues to grow, meeting the increasing purity requirements poses challenges in securing adequate and secure supply of high-purity silica. This scenario underscores the importance of strategic investments in companies capable of delivering high-purity silica to meet market demands.
Troy Minerals: Positioned to meet demand
Amid the increasing demand for high-purity silica, Troy Minerals (CSE:TROY) is among the junior companies emerging as a key player in the race to supply industries that rely on this critical material.
The company is actively engaged in the exploration and development of silica-rich properties, focused on securing high-purity silica deposits and adhering to sustainable mining practices.
One of the company’s flagship assets is the Table Mountain silica project in BC, Canada. This site has already yielded promising results, with extensive zones of high-purity silica mineralization. Recent analytical data from the project indicate silica purity levels ranging from 95.82 percent to an impressive 99.82 percent, making it suitable for advanced industrial applications, including glass manufacturing, high-tech electronics and solar panel production.
Additionally, the project's location in Canada provides strategic advantages, including a stable regulatory environment and proximity to North American technology and energy markets. These factors contribute to the project's long-term scalability and commercial potential.
Beyond its Canadian operations, Troy Minerals is expanding its global footprint with the Tsagaan Zalaa silica project in Mongolia. The company recently submitted a mining license application for this project, signaling its commitment to securing high-purity silica resources on an international scale. Mongolia’s rich geological landscape, combined with its growing mining sector, offers an attractive opportunity for Troy Minerals to establish a strong presence in the Asian silica supply chain. Given Asia’s rapid industrial growth, particularly in solar panel manufacturing and semiconductor production, this project could position the company as a critical supplier for key industries in the region.
Troy Minerals’ strategic approach is not just about resource acquisition, it is also about responsible and sustainable development. The company is committed to environmentally conscious mining practices, ensuring that its operations align with evolving global regulations and corporate sustainability standards. With governments and industries placing increasing emphasis on ESG factors, Troy Minerals’ dedication to responsible resource management strengthens its appeal to institutional investors and environmentally conscious stakeholders.
Through its high-purity silica assets in strategic locations, Troy Minerals is positioning itself as a vital player in the global supply chain.
Investment case
Investors evaluating silica-focused companies should consider several factors:
- Resource quality: The purity and accessibility of silica deposits are critical determinants of a company's potential.
- Proximity to markets: Close access to key markets can reduce transportation costs and improve supply chain efficiency.
- Regulatory environment: Navigating environmental and mining regulations effectively is essential for sustainable operations.
Investor takeaway
The escalating demand for high-purity silica presents significant opportunities for companies equipped to meet the stringent requirements of modern industries.
Resource companies, like Troy Minerals, that are poised to support critical sectors such as renewable energy and technology manufacturing, offer a strategic avenue for investors seeking to capitalize on this growing market.
As global industries continue to evolve, high-purity silica remains a cornerstone material, reinforcing its status as a backbone of modern industry and a strategic investment opportunity.
This INNSpired article is sponsored by Troy Minerals (CSE:TROY;OTCQB:TROYF;FSE:VJ3). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by Troy Mineralsin order to help investors learn more about the company. Troy Minerals is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Troy Minerals and seek advice from a qualified investment advisor.
CoTec Holdings Corp. Announces Release of Executive Informational Overview Report by Crystal Research
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to announce that Crystal Research Associates LLC has released an Executive Informational Overview® (EIO) on CoTec.
The 70 page paid report can be found on CoTec's website (https://cotec.ca/), Crystal Research Associates' website (www.crystalra.com), and across leading financial distribution mediums. For over two decades, Crystal Research Associates, LLC has successfully articulated the exceptional stories of small- and mid-cap companies to the Wall Street investor community.
About CoTec
CoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange ("TSX-V") and the OTCQB and trades under the symbol CTH and CTHCF respectively. CoTec Holdings Corp. is a forward-thinking resource extraction company committed to revolutionizing the global metals and minerals industry through innovative, environmentally sustainable technologies and strategic asset acquisitions. With a mission to drive the sector toward a low-carbon future, CoTec employs a dual approach: investing in disruptive mineral extraction technologies that enhance efficiency and sustainability while applying these technologies to undervalued mining assets to unlock their full potential. By focusing on recycling, waste mining, and scalable solutions, the Company accelerates the production of critical minerals, shortens development timelines, and reduces environmental impact. CoTec's strategic model delivers low capital requirements, rapid revenue generation, and high barriers to entry, positioning it as a leading mid-tier disruptor in the commodities sector.
About Crystal Research Associates, LLC
Crystal Research Associates is an independent research firm led by Wall Street veterans, Jeffrey Kraws and Karen Goldfarb. Together, Kraws and Goldfarb have built a unique business model, capitalizing on decades of experience as an award-winning sell-side analyst team to produce institutional-quality industry and market research in a manner that is easily understood by investors and consumers. Our firm's approach has been proven successful over the years as our products are published and available on Bloomberg, Thomson Reuters, S&P Global Market Intelligence, FactSet, and scores of other popular forums
For further information, please contact:
Braam Jonker - (604) 992-5600
Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements" that involve risks and uncertainties, including statements relating to management's expectations with respect to its current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. For further details regarding risks and uncertainties facing the Company please refer to "Risk Factors" in the Company's filing statement dated April 6, 2022, a copy of which may be found under the Company's SEDAR profile at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
CoTec Holdings: Innovating the Future of Resource Extraction
CoTec Holdings (TSXV:CTH,OTCQB:CTHCF) (CoTec) leverages disruptive technologies to undervalued critical mineral assets and waste materials into high-value commodities essential for a low-carbon future. The company offers a unique investment opportunity, characterized by low cost, lower capex, faster cash flow generation, and superior returns through innovation and strategic execution.
CoTec targets sectors crucial to today’s evolving economies like rare earth magnet recycling, green steel production and copper waste processing by advancing four cutting-edge technologies and three strategic assets.
CoTec's medium-term goal of acquiring 10 technologies and 20 to 30 assets. The company’s business model is supported by partnerships, joint ventures (JVs), and a disciplined capital management strategy to unlock value across its portfolio.
CoTec is guided by a highly experienced management team and board of directors with deep expertise in mining, technology and corporate finance.
Company Highlights
- CoTec deploys cutting-edge, low-carbon technologies to marginal assets, reclamation opportunities and recycling initiatives, transforming waste materials into strategic, high-value commodities.
- The company holds stakes in four groundbreaking technologies — HyProMag, Binding Solutions, MagIron and Ceibo. These technologies are designed to unlock significant value across strategically chosen assets. The Lac Jeannine iron project in Quebec, with an after tax NPV of US$59.9 million, stands on its own merits but could see further economic and environmental enhancements through the application of CoTec’s technologies. Similarly, HyProMag USA is pioneering the rollout of HyProMag’s rare earth recycling technology in the United States, delivering low-cost, magnet-to-magnet low-carbon resource recovery.
- CoTec accelerates the transition from discovery to production through proprietary technologies and strategic joint ventures, enabling significantly faster revenue generation compared to traditional mining operations.
- Backed by a management team with extensive expertise in mining, finance and technology, CoTec is uniquely positioned to drive innovation and growth in the critical minerals sector.
- Approximately 74 percent of the company is owned by management and insiders, demonstrating the leadership’s strong commitment to the company’s success.
This CoTec Holdings profile is part of a paid investor education campaign.*
Click here to connect with CoTec Holdings (TSXV:CTH,OTCQB:CTHCF) to receive an Investor Presentation
Troy Minerals Reports Analytical Results from Table Mountain Silica Project, Identifying Broad High-Purity Zones
Troy Minerals Inc. ("Troy" or the "Company") (CSE:TROY)(OTCQB:TROYF)(FSE:VJ3) is pleased to announce that it has received results from a sampling and mapping program on its 100% owned Table Mountain Silica Project, located near Golden, British Columbia, Canada.
Key Highlights
- Three distinct zones of high-purity silica mineralization identified within the Mount Wilson Quartzite Formation.
- 98.86% SiO₂ over a total of 62.11 metres of channel sampling in five channels at the main Table Mountain Zone.
- Outcrop sampling returned 98.18% to 99.74% SiO2 from 45 samples at Table Mountain Zone, 97.83% to 99.49% SiO₂ from 13 samples at South Zone, and 95.82% to 99.82% SiO₂ from 29 samples at Southeast Zone. *
- Very low deleterious elements identified in all samples.
President of Troy Minerals Inc., Yannis Tsitos commented: "These comprehensive maiden assay results validate the potential of Table Mountain as a key high-purity silica asset. Sampling confirmed the exceptional quality and consistency of silica mineralization across the Project. With grades reaching 98 to 99% SiO₂ across multiple zones of extensive outcrop exposure, and sampling ranging from 98.18% to 99.74% SiO₂ at the main Table Mountain Zone, we are rapidly advancing our understanding of this strategic asset. The Project's infrastructure advantages and proximity to existing silica operations further enhance its potential as we work to establish Troy as a significant player in the North American high-purity silica market, positioning the Company for long-term growth."
The sampling program consisted of both systematic grab samples and channel samples, with a total of 110 grab samples (107 outcrop and 3 float) taken within the property area and 70 channel samples collected from 62.11 metres within 74.16 metres of channels.
Figure 1. Index Map
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Outcrop Sampling Results
Three main areas returned significant high-purity silica results: the Table Mountain Zone, located at the north end of the Property, the South Zone, and the Southeast Zone.
The most extensively sampled zone was the Table Mountain Zone, which returned an average grade of 98.90% SiO₂ from 45 grab samples (42 outcrop, 3 float), with values ranging from 98.18% to 99.74% SiO₂. Additionally, from these samples the following average values were returned: 0.31% Fe₂O₃, 0.01% CaO, 0.14% Al₂O₃, 0.02% MgO, 0.01% TiO₂, 0.01% P₂O₅, and 14ppm boron. See Figure 2 and Table 1. *
Figure 2. Table Mountain Zone Outcrop Sampling - %SiO2
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Table 1. Table Mountain Zone Outcrop Samples
Sample # | Easting (m) | Northing (m) | SiO2 (%) | Al2O3 (%) | CaO (%) | Fe2O3 (%) | MgO (%) | P2O5 (%) | TiO2 (%) | B (ppm) |
299516 | 509114 | 5685249 | 99.41 | 0.11 | 0.02 | 0.39 | 0.01 | <0.01 | <0.01 | 6 |
299517 | 509193 | 5685166 | 98.84 | 0.14 | 0.01 | 0.23 | 0.02 | <0.01 | <0.01 | 8 |
299518 | 509314 | 5685171 | 99.20 | 0.10 | 0.01 | 0.25 | 0.02 | <0.01 | 0.01 | 10 |
299519 | 509350 | 5685151 | 98.26 | 0.12 | 0.01 | 0.35 | 0.01 | <0.01 | 0.01 | 15 |
299520 | 509369 | 5685129 | 99.20 | 0.13 | 0.01 | 0.21 | <0.01 | <0.01 | 0.03 | 16 |
299521 | 509395 | 5685107 | 99.17 | 0.15 | 0.01 | 0.27 | 0.02 | <0.01 | 0.01 | 8 |
299522 | 509418 | 5685094 | 98.78 | 0.23 | 0.02 | 0.26 | 0.01 | <0.01 | 0.01 | 12 |
299523 | 509442 | 5685075 | 98.59 | 0.14 | 0.02 | 0.26 | <0.01 | 0.01 | 0.01 | 12 |
299524 | 509450 | 5685043 | 99.74 | 0.07 | 0.01 | 0.30 | 0.01 | 0.01 | 0.01 | 6 |
299525 | 509471 | 5685019 | 98.58 | 0.04 | 0.01 | 0.36 | 0.01 | 0.01 | 0.01 | 7 |
299526 | 509482 | 5684990 | 99.25 | 0.14 | 0.02 | 0.27 | 0.04 | 0.01 | 0.01 | 7 |
299527 | 509500 | 5684961 | 99.66 | 0.16 | 0.02 | 0.31 | 0.02 | 0.01 | 0.01 | 7 |
299528 | 509515 | 5684938 | 99.21 | 0.14 | 0.01 | 0.32 | 0.02 | 0.01 | 0.01 | 7 |
299529 | 509538 | 5684911 | 99.13 | 0.11 | 0.01 | 0.27 | 0.03 | 0.01 | 0.01 | 21 |
299530 | 509561 | 5684862 | 98.18 | 0.25 | 0.01 | 0.31 | 0.03 | 0.01 | 0.01 | 7 |
299531 | 509598 | 5684823 | 98.93 | 0.27 | 0.02 | 0.36 | 0.03 | 0.01 | 0.01 | 7 |
299532 | 509583 | 5684759 | 98.99 | 0.09 | 0.01 | 0.30 | <0.01 | 0.01 | 0.01 | 7 |
299533 | 509619 | 5684743 | 98.72 | 0.16 | 0.01 | 0.35 | 0.02 | 0.01 | 0.01 | 14 |
299534 | 509641 | 5684726 | 98.18 | 0.30 | 0.01 | 0.33 | 0.04 | 0.01 | 0.02 | 15 |
299535 | 509712 | 5684697 | 99.41 | 0.13 | 0.01 | 0.30 | 0.02 | 0.01 | 0.01 | 7 |
299536 | 509736 | 5684685 | 99.27 | 0.11 | 0.01 | 0.33 | 0.02 | 0.01 | 0.01 | 7 |
299537 | 509764 | 5684670 | 98.58 | 0.13 | 0.02 | 0.36 | 0.03 | 0.01 | 0.02 | 8 |
299548 | 509306 | 5685510 | 99.32 | 0.14 | 0.01 | 0.29 | 0.01 | 0.01 | 0.01 | 18 |
299560 | 509476 | 5685127 | 98.99 | 0.13 | 0.01 | 0.32 | 0.03 | 0.01 | 0.02 | 27 |
299561 | 509472 | 5685107 | 99.01 | 0.05 | 0.01 | 0.32 | 0.01 | 0.01 | <0.01 | 18 |
299562 | 509457 | 5685115 | 98.74 | 0.15 | 0.01 | 0.26 | 0.01 | 0.01 | 0.02 | 28 |
299563 | 509439 | 5685112 | 98.35 | 0.20 | 0.02 | 0.34 | 0.02 | 0.01 | 0.01 | 27 |
299564 | 509459 | 5685092 | 99.20 | 0.09 | 0.01 | 0.32 | <0.01 | 0.01 | 0.01 | 21 |
299565 | 509487 | 5685107 | 99.49 | 0.09 | 0.01 | 0.28 | 0.03 | 0.01 | 0.02 | 28 |
299566 | 509490 | 5685083 | 98.48 | 0.25 | 0.02 | 0.35 | 0.01 | 0.01 | 0.01 | 26 |
299567 | 509503 | 5685071 | 99.03 | 0.11 | 0.02 | 0.34 | 0.02 | 0.01 | <0.01 | 21 |
299568 | 509477 | 5685067 | 99.16 | 0.10 | 0.01 | 0.30 | <0.01 | 0.01 | <0.01 | 18 |
299569 | 509478 | 5685044 | 98.68 | 0.10 | 0.01 | 0.32 | 0.03 | 0.01 | <0.01 | 20 |
299570 | 509506 | 5685041 | 98.46 | 0.43 | 0.02 | 0.32 | 0.06 | 0.01 | 0.01 | 29 |
299571 | 509523 | 5685054 | 98.81 | 0.13 | 0.01 | 0.31 | 0.03 | 0.01 | 0.01 | 22 |
299572 | 509382 | 5685160 | 98.42 | 0.09 | 0.01 | 0.29 | 0.01 | 0.01 | 0.01 | 23 |
299573 | 509397 | 5685160 | 98.92 | 0.11 | 0.01 | 0.36 | <0.01 | 0.01 | <0.01 | 18 |
299574 | 509406 | 5685142 | 99.12 | 0.09 | 0.01 | 0.30 | 0.02 | 0.01 | <0.01 | 17 |
299575 | 509409 | 5685120 | 98.56 | 0.14 | 0.01 | 0.37 | <0.01 | 0.01 | <0.01 | 21 |
299581 | 509357 | 5685172 | 98.84 | 0.08 | 0.02 | 0.32 | <0.01 | 0.01 | 0.01 | 18 |
299582 | 509429 | 5685142 | 98.87 | 0.15 | 0.01 | 0.29 | <0.01 | 0.01 | 0.02 | 8 |
299583 | 509446 | 5685146 | 98.25 | 0.33 | 0.02 | 0.33 | 0.03 | 0.01 | 0.03 | 17 |
299584 | 509455 | 5685145 | 99.49 | 0.11 | 0.02 | 0.27 | <0.01 | 0.01 | 0.01 | 5 |
299585 | 509473 | 5685142 | 98.66 | 0.08 | 0.01 | 0.36 | <0.01 | 0.01 | <0.01 | 6 |
299586 | 509493 | 5685133 | 98.52 | 0.05 | 0.01 | 0.29 | <0.01 | 0.01 | <0.01 | <5 |
Note: 299548, 299584, and 299585 are float samples taken near outcrop.
The South Zone, comprising 13 high-grade quartzite outcrop grab samples averaged 98.80% SiO₂ with values ranging from 97.83% to 99.49% SiO₂. These samples averaged 0.28% Fe₂O₃, 0.13% CaO, 0.13% Al₂O₃, 0.02% MgO, <0.01% TiO₂, 0.02% P₂O₅, and 6ppm boron. See Figure 3 and Table 2. *
Figure 3. South Zone Outcrop Sampling - %SiO2
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Table 2. South Zone Outcrop Samples
Sample # | Easting (m) | Northing (m) | SiO2 (%) | Al2O3 (%) | CaO (%) | Fe2O3 (%) | MgO (%) | P2O5 (%) | TiO2 (%) | B (ppm) |
248351 | 511603 | 5682006 | 98.60 | 0.28 | 0.08 | 0.25 | 0.04 | 0.01 | 0.01 | 15 |
248352 | 511563 | 5681948 | 99.45 | 0.15 | 0.02 | 0.22 | 0.02 | 0.01 | <0.01 | 6 |
248353 | 511552 | 5681948 | 99.01 | 0.19 | 0.03 | 0.29 | 0.04 | 0.01 | 0.01 | 9 |
248354 | 511551 | 5681951 | 99.09 | 0.11 | 0.02 | 0.22 | 0.03 | 0.01 | 0.01 | 6 |
248355 | 511530 | 5681940 | 98.74 | 0.09 | 0.02 | 0.23 | <0.01 | 0.01 | <0.01 | 6 |
248356 | 511522 | 5681942 | 98.82 | 0.08 | 0.01 | 0.31 | <0.01 | 0.01 | <0.01 | <5 |
248357 | 511512 | 5681951 | 98.31 | 0.09 | 0.01 | 0.24 | 0.01 | 0.01 | 0.01 | 5 |
248358 | 511485 | 5681948 | 98.14 | 0.13 | 0.28 | 0.32 | 0.03 | 0.01 | 0.01 | 8 |
248359 | 511461 | 5681935 | 99.49 | 0.11 | 0.02 | 0.30 | 0.02 | 0.01 | <0.01 | 10 |
248360 | 511436 | 5681932 | 99.06 | 0.03 | 0.05 | 0.25 | 0.01 | 0.02 | <0.01 | 5 |
248361 | 511444 | 5681918 | 99.42 | 0.07 | 0.01 | 0.29 | 0.02 | 0.01 | <0.01 | 6 |
248362 | 511440 | 5681942 | 97.83 | 0.32 | 0.73 | 0.36 | 0.03 | 0.03 | 0.01 | 8 |
248364 | 511374 | 5682002 | 98.43 | 0.09 | 0.43 | 0.36 | <0.01 | 0.16 | <0.01 | <5 |
The Southeast Zone, comprising 29 high-grade quartzite outcrop grab samples, returned an average of 98.52% SiO₂ with values ranging from 95.82% to 99.82% SiO₂. Average values for other constituents were: 0.35% Fe₂O₃, 0.07% CaO, 0.30% Al₂O₃, 0.06% MgO, 0.02% TiO₂, <0.01% P₂O₅, and 26ppm boron. See Figure 4 and Table 3.*
Figure 4. Southeast Zone Outcrop Sampling - %SiO2
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Table 3. Southeast Zone Outcrop Samples - %SiO2
Sample # | Easting (m) | Northing (m) | SiO2 (%) | Al2O3 (%) | CaO (%) | Fe2O3 (%) | MgO (%) | P2O5 (%) | TiO2 (%) | B (ppm) |
248384 | 513642 | 5680350 | 98.22 | 0.37 | 0.21 | 0.41 | 0.14 | 0.02 | 0.03 | 27 |
248385 | 513671 | 5680320 | 95.82 | 0.57 | 0.69 | 0.51 | 0.52 | 0.02 | 0.03 | 30 |
248386 | 513685 | 5680313 | 97.77 | 0.48 | 0.05 | 0.37 | 0.05 | 0.01 | 0.03 | 30 |
248387 | 513708 | 5680285 | 98.90 | 0.36 | 0.02 | 0.35 | 0.04 | <0.01 | 0.03 | 30 |
248388 | 513735 | 5680261 | 98.11 | 0.32 | 0.03 | 0.31 | 0.04 | <0.01 | 0.03 | 35 |
248389 | 513748 | 5680244 | 98.05 | 0.49 | 0.03 | 0.30 | 0.03 | <0.01 | 0.01 | 28 |
248390 | 513654 | 5680223 | 98.91 | 0.13 | 0.01 | 0.27 | 0.04 | <0.01 | 0.01 | 29 |
248391 | 513627 | 5680208 | 98.74 | 0.09 | 0.02 | 0.30 | 0.02 | <0.01 | 0.02 | 27 |
248392 | 513600 | 5680217 | 99.52 | 0.06 | 0.02 | 0.32 | 0.03 | <0.01 | 0.01 | 23 |
248393 | 513564 | 5680220 | 96.98 | 1.04 | 0.05 | 0.33 | 0.07 | 0.03 | 0.07 | 41 |
248394 | 513592 | 5680259 | 98.91 | 0.30 | 0.13 | 0.35 | 0.13 | <0.01 | 0.02 | 31 |
248395 | 513390 | 5680466 | 99.26 | 0.11 | 0.02 | 0.35 | 0.03 | <0.01 | 0.01 | 25 |
248396 | 513367 | 5680495 | 98.81 | 0.12 | 0.07 | 0.34 | 0.04 | <0.01 | 0.01 | 25 |
248397 | 513332 | 5680531 | 99.25 | 0.08 | 0.02 | 0.37 | 0.01 | <0.01 | 0.01 | 26 |
248398 | 513301 | 5680539 | 99.08 | 0.15 | 0.21 | 0.33 | 0.04 | <0.01 | 0.01 | 27 |
248399 | 513283 | 5680559 | 98.76 | 0.07 | 0.09 | 0.36 | 0.02 | <0.01 | 0.01 | 22 |
248400 | 513263 | 5680602 | 98.77 | 0.08 | 0.01 | 0.29 | <0.01 | <0.01 | 0.01 | 24 |
299501 | 513231 | 5680636 | 98.14 | 0.15 | 0.02 | 0.41 | 0.02 | <0.01 | 0.01 | 26 |
299502 | 513188 | 5680660 | 99.05 | 0.20 | 0.02 | 0.27 | <0.01 | <0.01 | 0.01 | 27 |
299503 | 513160 | 5680700 | 99.07 | 0.16 | 0.02 | 0.31 | 0.02 | <0.01 | 0.01 | 27 |
299504 | 513133 | 5680705 | 98.85 | 0.13 | 0.02 | 0.26 | 0.01 | <0.01 | 0.01 | 26 |
299508 | 513834 | 5679986 | 98.68 | 0.15 | 0.03 | 0.26 | 0.02 | <0.01 | 0.01 | 21 |
299509 | 513876 | 5679941 | 98.88 | 0.23 | 0.03 | 0.27 | 0.04 | <0.01 | 0.03 | 34 |
299510 | 513904 | 5679907 | 99.08 | 0.05 | 0.02 | 0.29 | <0.01 | <0.01 | 0.01 | 11 |
299511 | 513968 | 5679864 | 99.82 | 0.15 | 0.02 | 0.27 | 0.02 | <0.01 | 0.01 | 23 |
299512 | 514023 | 5679832 | 99.21 | 0.12 | 0.02 | 0.29 | 0.03 | <0.01 | 0.03 | 10 |
299513 | 514070 | 5679980 | 97.08 | 1.11 | 0.02 | 0.75 | 0.09 | 0.01 | 0.05 | 18 |
299514 | 514081 | 5680011 | 96.66 | 1.27 | 0.02 | 0.43 | 0.05 | 0.01 | 0.07 | 26 |
299515 | 514075 | 5680039 | 98.58 | 0.26 | 0.07 | 0.45 | 0.07 | 0.01 | 0.03 | 14 |
The remainder of samples were either taken near the contacts of the adjacent units or from non-quartzite outcrops of the adjacent Glenogle shale (east contact) and Beaverfoot dolomite (west contact) and were not included in the statistical summary of the quartzite samples taken.
Channel Sampling Results
Channel sampling was conducted at the Table Mountain Zone, with results consistently similar to the outcrop sampling results. Sampling procedure consisted of continuous chip sampling along a 3-centimetre cut channel. Samples were taken continuously over 1-metre intervals perpendicular to the strike orientation of the outcrop, with the sample sequence starting from the southwest end of the channel. Intervals shorter than 20 centimetres were combined with the previous interval. 66 continuous chip channel samples were collected over 62.11 metres within 74.16 metres in five channels, returning a weighted average of 98.86% SiO₂.
Four additional duplicates were taken as QA/QC checks and passed validation. Sample density is sufficient to indicate the accurate representation of the underlying mineralization.
See Figure 5 and Table 4 below.
Figure 5. Channel Sampling Locations - Table Mountain Zone
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Table 4. Table Mountain Zone - Channel Sampling
Channel | From (m) | To (m) | Interval (m) | SiO2 (%) | Al2O3 (%) | CaO (%) | Fe2O3 (%) | MgO (%) | P2O5 (%) | TiO2 (%) | B (ppm) |
TM1 | 0.00 | 4.74 | 4.74 | 98.83 | 0.15 | 0.01 | 0.30 | 0.01 | 0.01 | 0.01 | 24 |
TM2 | 0.00 | 5.80 | 5.80 | 98.88 | 0.10 | 0.01 | 0.33 | 0.01 | 0.01 | 0.01 | 10 |
5.80 | 6.30 | 0.50 | Overburden | ||||||||
6.30 | 8.83 | 2.53 | 98.90 | 0.10 | 0.01 | 0.30 | 0.01 | 0.01 | 0.02 | 7 | |
8.83 | 9.38 | 0.55 | Overburden | ||||||||
9.38 | 13.0 | 3.62 | 99.21 | 0.09 | <0.01 | 0.35 | 0.01 | 0.01 | 0.02 | 11 | |
TM3 | 0.00 | 7.60 | 7.60 | 99.03 | 0.11 | <0.01 | 0.32 | 0.01 | 0.01 | 0.02 | 7 |
7.60 | 10.20 | 2.60 | Overburden | ||||||||
10.20 | 11.00 | 0.80 | 99.08 | 0.11 | <0.01 | 0.27 | 0.01 | 0.01 | 0.02 | 6 | |
11.00 | 11.90 | 0.90 | Overburden | ||||||||
11.90 | 18.00 | 6.10 | 98.79 | 0.11 | <0.01 | 0.29 | <0.01 | 0.01 | 0.02 | 10 | |
TM4 | 0.00 | 5.22 | 5.22 | 99.09 | 0.09 | <0.01 | 0.33 | <0.01 | 0.01 | 0.02 | 12 |
TM5 | 0.00 | 3.80 | 3.80 | 98.82 | 0.15 | <0.01 | 0.29 | <0.01 | 0.01 | 0.04 | 15 |
3.80 | 4.50 | 0.70 | Overburden | ||||||||
4.50 | 7.00 | 2.50 | 98.85 | 0.12 | <0.01 | 0.31 | 0.02 | 0.01 | 0.02 | 20 | |
7.00 | 10.20 | 3.20 | Overburden | ||||||||
10.20 | 12.00 | 1.80 | 98.77 | 0.09 | <0.01 | 0.34 | 0.01 | <0.01 | 0.01 | 12 | |
12.00 | 13.00 | 1.00 | Overburden | ||||||||
13.00 | 17.50 | 4.50 | 98.30 | 0.15 | 0.09 | 0.34 | 0.02 | <0.01 | 0.01 | 13 | |
17.50 | 20.10 | 2.60 | Overburden | ||||||||
20.10 | 33.20 | 13.10 | 98.81 | 0.11 | <0.01 | 0.31 | 0.01 | <0.01 | 0.01 | 9 |
Discussion
Sampling results within the zones were consistently high purity, with the northern Table Mountain Zone returning the best and most consistent grades. The favourable grades reflect field observations of a broad zone of white quartzite measuring at least 150 metres wide and a strike length extending from the Trans-Canada Highway to the south and to the north, beyond the northern end of the Property, representing a total strike length of at least 4 kilometres. Although the western cliff face of Table Mountain clearly demarcates the western margin of the Mount Wilson Formation quartzite, the eastern margin is obscured by a deep boulder field originating from the extensive, steep quartzite exposure in this area.
Channels sampling results demonstrated a consistency in grade over a wide area within the Table Mountain Zone.
All samples were submitted to ALS Laboratories in North Vancouver, British Columbia for B-MS82L (boron) and ME-XRF26 (all other elements). Four sample duplicates were taken in the channel sampling sequence, and passed QA/QC.
* Cautionary Note
The reader is cautioned that grab samples are selective by nature and may not represent the true grade or style of mineralization across the property.
About the Table Mountain Project
The Table Mountain Silica Project comprises 2,304 hectares located 4 kilometres east of Golden, B.C., with excellent year-round access and proximity to the Canadian Pacific Railway Golden Rail Yard. The property hosts up to 10 kilometers of regionally mapped strike length of the Mount Wilson Formation, with apparent widths ranging from 300 to 1,400 metres at surface. The project is strategically positioned near both the Moberly Silica Mine and Sinova Quartz silica quarry, which exhibit economic grade silica greater than 99.6% SiO₂ purity.
Qualified Person
Technical information in this news release has been reviewed and approved by Case Lewis, P.Geo., a "Qualified Person" as defined under NI 43-101 Standards of Disclosure for Mineral Projects and a director of the Table Mountain Project vendor.
About Troy Minerals
Troy Minerals is a Canadian based publicly listed mining company focused on building shareholder value through acquisition, exploration, and development of strategically located "critical" mineral assets. Troy is aggressively advancing its projects within the silica (silicon), vanadium, and rare earths industries within regions that exhibit high and growing demand for such commodities, in both North America and Central-East Asia. The Company's primary objective is the near-term prospect of production with a vision of becoming a cash-flowing mining company to ultimately deliver tangible monetary value to shareholders, state, and local communities.
ON BEHALF OF THE BOARD,
Rana Vig | CEO & Director Telephone: 604-218-4766
Email: rana@ranavig.com
Forward-Looking Statements
Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Troy Resources Inc. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of commodity prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
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