Feasibility Study on Formation's Idaho Cobalt Project Awarded to Micon International Limited & SNC-Lavalin

Formation Metals Inc. (TSX:FCO,OTCQX:FMETF) announced today that it has signed an agreement with Micon International Limited for technical services to conduct a Bankable Feasibility Study on Formation’s Idaho Cobalt Project. Micon will be subcontracting aspects of the study concerning the processing, infrastructural engineering, risk assessment, project scheduling, and cost estimating to SNC-Lavalin Inc. This agreement represents the culmination of several weeks of a bidding process involving over half a dozen qualified engineering firms. The initiation of this process was first announced in the Company’s March 2, 2016 news release.
Formation Metals President and CEO, Paul Farquharson, stated:

This development is a significant milestone in the advancement of the ICP towards production. As a result of our recently completed C$4.4M financing, we are now able to fast-track the engineering of the ICP.” He continued, “During this process, expected to culminate in Q1-2017, management will be actively pursuing additional financing opportunities with the ultimate goal of securing Capex financing to re-commence construction of our cobalt project.

Connect with Formation Metals Inc. (TSX:FCO,OTCQX:FMETF) to receive an Investor Presentation.