Coniagas Battery Metals Identifies Offshore Stockpile Opportunities for Evaluation with Re-2Ox Hydrometallurgical Process

Coniagas Battery Metals Identifies Offshore Stockpile Opportunities for Evaluation with Re-2Ox Hydrometallurgical Process

 

(TheNewswire)

 
     
  Coniagas Battery Metals Inc. 
          
 

  These offshore stockpiles provide an exciting opportunity to leverage our Re-2Ox process and establish a full-scale production facility in Quebec.  

 

Vancouver, BC May 28 2024 TheNewswire Coniagas Battery Metals Inc. (TSXV: COS) ("Coniagas" or the "Company"), is excited to announce the identification of promising, offshore source material for evaluation and processing using our advanced Re-2Ox hydrometallurgical process. This marks a significant step towards our goal of establishing a full-scale production facility in Quebec, in collaboration with SGS in Quebec City, to enhance technological readiness.

 

After gathering extensive market intelligence, the company and its associated stakeholders concluded that gaining access to reliable and long-term feed contracts was the most pressing priority in building a critical metals supply chain. This "Feed first" strategy sets Coniagas apart from competitors and will place it on track to build more robust relationships with downstream partners in the battery manufacturing and high technology sectors, who are the end-users of these materials.

 

Frank Basa, P.Eng., Member of Professional Engineers Ontario, President and CEO of Coniagas, commented, "The discovery of these offshore stockpiles presents a substantial opportunity for Coniagas. With the support of SGS, we are moving rapidly towards proving the technological readiness of our Re-2Ox process, paving the way for funding and development of a large-scale production facility."

 

We have currently identified six stockpile opportunities, with a total estimated tonnage of approximately 29.03 million tonnes, averaging grades of 1.5% copper (Cu) and 0.5% cobalt (Co). The stockpiles vary in size from 60,500 tonnes to 20 million tonnes, with copper grades ranging from 1% to 6.5% and cobalt grades from 0.05% to 4.5% (Congo Tailings Company S.A.S. in the Democratic Republic of the Congo).  As these tonnages and grades are historical in nature and do not have a technical report to support them, they are not considered current and should not be construed as a resource. The company has not done sufficient due diligence for these numbers to be relied upon.

 

Coniagas has received a 25-kilogram sample from one of the stockpiles for assay purposes. The company will be releasing the copper and cobalt assays shortly. The preliminary findings will highlight the potential for high-grade material within the stockpiles.  Additional due diligence will be conducted to confirm the grades profiles with additional and more robust sampling followed by on-site inspection if warranted.

 

Matthew Halliday, P.Geo., Qualified Person (QP) for Coniagas, stated, "These offshore stockpiles provide an exciting opportunity to leverage our Re-2Ox process. The diverse grades and sizes of these stockpiles underscore the versatility and efficiency of our hydrometallurgical approach. We are optimistic about the potential for high-grade extractions and are committed to advancing our processing capabilities."

 

Further to the strategy of "Feed First," the company recognizes the challenges of depending on one source or one jurisdiction alone and has consequently arrayed its resources to be resilient in the face of price volatility and geopolitical tensions if and when they arise. The company anticipates this strategy will dovetail with its efforts in Quebec, where its Graal deposit is located. In the time it takes to fully develop the Graal deposit, feed from the operations in Congo can potentially secure the strategic relationships needed to execute the company's long-term strategy.

 

The partnership with SGS and the identification of these offshore resources align with Coniagas' strategic vision to be a leading supplier of critical battery metals for the booming EV industry. Quebec's strong infrastructure, green power availability, and access to critical ports further enhance the viability of processing these offshore ores locally.

 

Frank Basa concluded, "Our focus is on accelerating the technological readiness of the Re-2Ox process and demonstrating its capability on a larger scale. The identification of these stockpiles is a pivotal development, and we are determined to advance towards a full-scale production facility that meets the aggressive timelines of the industry."

 

  Qualified Person  

 

The technical information in this news release was reviewed and approved by

 

Matthew Halliday, P.Geo. and member of the Ordre des Géologues du Québec, is a Qualified Person in accordance with National Instrument 43-101.

 

  About Coniagas Battery Metals Inc.  

 

 Coniagas Battery Metals Inc. is a Canadian junior mining company focused on nickel, copper and cobalt and platinum group metals in Québec. Coniagas' strategy is to create value for shareholders through the development of its mineral properties, with the intention to develop Coniagas into a critical metals supplier to the electric vehicle (EV) market.

 

At its 100% owned Graal project near Saguenay, Quebec, Coniagas has conducted successful exploration involving geophysics as well as shallow drilling that hit mineralization in almost every hole. It has confirmed an open-pit deposit model at Graal along a 6 km strike length of high-grade nickel and copper with cobalt, platinum and palladium byproducts.  The Company plans in the near-term to conduct additional drilling leading to the production of a Ni 43-101 resource report, metallurgical testing and consultations with First Nations. The Graal project and immediate work plan are outlined in detail in the "NI 43-101 Technical Report Graal Nickel & Copper Project, Saguenay-Lac-St-Jean, Quebec, Canada" dated January 17, 2024. The report is available along with other information at the Company's website    https://coniagas.com/    

 

"Frank J. Basa"

 

Frank J. Basa, P. Eng. Ontario

 

Chief Executive Officer

 

For further information, contact:

 

Frank J. Basa

 

Chief Executive Officer

 

416-625-2342

 

or:

 

Wayne Cheveldayoff, Corporate Communications

 

P: 416-710-2410   E:    waynecheveldayoff@gmail.com    

 

  You can follow Coniagas on Social Media:  

 

  LinkedIn:  

 

  X (Twitte r ):  

 

  Facebook:  

 

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Caution Regarding Forward-Looking Statements

 

  This news release may contain forward-looking statements regarding Coniagas Battery Metals Inc. ("Coniagas" or the "Company") which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address the Coniagas trading on the TSX Venture Exchange, resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. No assurance can be given that any of the foregoing will be achieved. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.  

 

Copyright (c) 2024 TheNewswire - All rights reserved.

 

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(TheNewswire)

 
     
  Coniagas Battery Metals Inc. 
          
 

Vancouver, BC TheNewswire - March 11, 2025 Coniagas Battery Metals Inc. (TSXV: COS) ("Coniagas" or the "Company"), is working with Laurentia Exploration to fine tune the next drill program with both infill drilling and step-out holes on the Graal property, the Company's strategically located asset near Saguenay-Lac St. Jean, Quebec.

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(TheNewswire)

 
     
  Coniagas Battery Metals Inc. 
          
 

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(TheNewswire)

 
     
  Coniagas Battery Metals Inc. 
          
 

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(TheNewswire)

 
     
  Coniagas Battery Metals Inc. 
          
 

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Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce an update on funding of the CERENERGY(R) sodium-chloride solid-state battery project in Saxony, Germany.

DEBT PROCESS

As previously mentioned, Altech has engaged ten commercial banks and two venture debt funds in the first round of financing discussions, receiving largely positive initial feedback. Based on this feedback, the Company has selected a preferred financial institution- a European bank with a proven track record in providing debt funding for technology-driven projects, particularly those within the innovation sector.

Although the mandate has not yet been formally executed, Altech intends to make an official announcement once this step is complete.

Meanwhile, the bank's commercial and technical teams have been diligently conducting a comprehensive review of the Cerenergy projects and its technology. The technical due diligence process is critical for ensuring that the project meets the bank's financing and risk criteria. As part of this process the onsite Altech experts are in detailed discussions with the bank's representative. The banks have visited Dresden and the Fraunhofer testing facilities and visit Hermsdorf, Germany where the prototype production is located in the coming weeks, which will be a key step in concluding the technical evaluation.

In parallel with these efforts, Altech is progressing discussions for securing a federal government guarantee, which would further strengthen its ability to secure the necessary debt funding for the project. Officials from the Ministry of Finance have already been briefed on the initiative, and the due diligence process for the application is actively underway. This federal guarantee will serve as an underwriter and therewith derisk any debt funding for the project substantially.

EQUITY FUNDING

In parallel with ongoing debt financing efforts, the Group has engaged several equity advisers to assist in securing the equity component of the project's funding package. As part of this strategy, Altech plans to divest a minority interest in the project to one or two strategic investors. This partial divestment is intended to attract investors who can contribute not only capital, but also strategic value, aligning with the CERENERGY(R) project's long-term goals of growth and sustainability.

The Group on one hand is specifically targeting large utility companies, data centre operators, investment funds, and corporations that are deeply committed to the green energy transition and on the other hand industrial partners with access and know-how and resources relevant to Cerenergy battery production, implementation or market access. These potential partners are seen as ideal due to their strong alignment with the project's sustainable energy focus and their ability to provide significant financial support. Progress in equity discussions has been promising, with several Non-Disclosure Agreements (NDAs) signed, enabling deeper engagement with prospective investors. Additionally, draft term sheets have been circulated to interested parties, outlining the key terms and conditions for investment. These documents provide a foundation for negotiations and facilitate more detailed discussions around the equity stake and partnership structure.

The decision to divest part of the project is strategically aimed at easing the Company's financial burden while bringing in experienced partners who can contribute to the project's success. By securing both equity and debt financing, Altech aims to finalize the full funding package, ensuring the timely construction and commissioning of the CERENERGY(R) battery plant. Moving forward, the focus will be on advancing these discussions and converting interest into formal commitments, which are critical for the project's progression.

GRANT APPLICATIONS

Altech has been actively applying for various grants offered by the State of Saxony, Federal Government of Germany, and the European Union. The State of Saxony and Brandenburg, along with the European Union, offer substantial support for renewable energy projects, including grants aimed at converting lignite coal to renewable energy sources. These grants are part of broader efforts to transition regions dependent on fossil fuels toward sustainable energy solutions. Altech's site, located in these areas, stands to benefit from various funding programs designed to support clean energy projects, including EU grants for energy transformation and innovation. Altech has applied for several of these grants to advance its CERENERGY(R) project, securing essential financial backing for technology development, high-tech industries, expert employment and infrastructure upgrades.

OFFTAKE ARRANGEMENTS

Altech has secured three key Offtake Letters of Intent (LOIs) for 100% of its CERENERGY(R) production.

1. Zweckverband Industriepark Schwarze Pumpe (ZISP): An agreement was signed on 13 September 2024 for ZISP to purchase 30 MWh of energy storage capacity annually, consisting of 1MWh GridPacks, for the first five years of production. The purchase is contingent on performance tests and battery specifications meeting customer requirements.

2. Referenzkraftwerk Lausitz GmbH (RefLau): A second LOI was executed with RefLau, a joint venture between Enertrag SE and Energiequelle GmbH. RefLau will buy 30 MWh of CERENERGY(R) storage n the first year, increasing to 32 MWh annually for the next four years. Additionally, Altech will purchase green electricity for its planned production plant.

3. Axsol GmbH: A third LOI was signed with Axsol, a leading renewable energy solutions provider. Axsol will exclusively distribute CERENERGY(R) batteries to the Western defense industry, facilitating early market entry and sales. These agreements are crucial for financing and advancing the CERENERGY(R) project.

 

About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

 

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