The Conversation (0)
Progressive Planet Solutions Inc (TSXV:PLAN) (“PLAN” or the “Company”) is pleased to present a corporate update on the company’s activities.
Progressive Planet Solutions Inc (TSXV:PLAN) (“PLAN” or the “Company”) is pleased to present a corporate update on the company’s activities.
Zeolite
Our first foray into developing an industrial mineral is focused on the extraction of zeolite from the Z-1 Quarry located in Cache Creek. In 2018, we divested of 3 early stage mineral properties to focus our resources on developing markets for zeolite while testing the zeolite from the Z-1 Quarry for various properties. Also in 2018, we added multiple members to our Board of Directors, our Advisory Board and as employees with backgrounds in engineering, geology, and chemistry.
Our focus for 2019 will be on monetizing zeolite in four areas:
- Producing our own supplementary cementing materials (SCM’s) and selling into this space as a Class N SCM.
- Selling zeolite as a soil amendment in agriculture. We will use the data from our Zeolite Efficacy Trial as a baseline to market in this area. Our target market are growers (small and large scale) as well as commercial composting facilities.
- Selling our zeolite as a “flowing/anticaking agent for livestock feeds”. We applied to the CFIA and we hope to get approval to market our zeolite in this category in 2019.
- Selling our zeolite as an alternative to straight road salt for de-icing and anti-slip for commercial property care companies that do parking lot and sidewalk clearing and de-icing. We had our first sale in this market in November 2018.
Further Details on SCMs
The cement industry is currently responsible for about 5% of global anthropogenic CO2 emissions. PLAN believes there is a large opportunity to produce greener concrete blends and is focusing its efforts on using zeolite as a Supplementary Cementing Material (SCM). There are two factors that make Class N SCM’s more environmentally friendly than conventional cement.
First of all, unlike Portland Cement, Class N SCM’s are produced without the combustion of massive amounts of hydrocarbon fuels (coal, used tires, used plastic, natural gas, etc.) to heat a kiln. Class F SCM’s are a by-product of burning hydrocarbons (coal) to make electricity. Class N SCM’s are produced by grinding pozzolanic materials (including zeolite, pumice, diatomaceous earth, and kaolin).
Secondly, Class N Pozzolans assist in favorable reactions with CO2 to form solid compounds within concrete that permanently sequester CO2. Several companies in Canada are bringing technologies into the marketplace to permanently sequester CO2 in concrete. PLAN is working in this area by using Class N SCM’s as part of the process. Work has included testing our own zeolite while also testing 2 other sources of zeolite from producing mines. In addition, work has been completed on one other pozzolanic material.
By way of background, the most common SCM used in North America today is fly ash (Class F SCM). This fly ash is a by-product of burning coal to produce electricity. It is widely accepted that burning coal is not environmentally sustainable and we anticipate the availability of Class F SCM’s will diminish into the future based on large scale replacement of coal derived electricity plants in North America.
Samples of our zeolite were taken by an independent BC company owned by engineers with significant experience in the cement industry. These samples were pulverized and tested for their compressive strength in cement mortar using the ASTM C311 Strength Activity Index Test Protocol. We are pleased to announce that our zeolite had superior strength versus commercially available fly ash (Class F SCM). PLAN has received an expression of interest from an independent third party to partner on producing pulverized zeolite from the Z1 Quarry. Discussions are ongoing, but no deal has yet been reached. There can be no guarantee or assurance that a deal will be reached. We will provide further updates as they become available.
PLAN purchased a Collider Mill in the summer of 2018 which can produce serval hundred pounds per hour of pulverized zeolite. This asset is being used to develop quantities of Class N SCM’s from zeolite that has been mined from our Z1 Quarry. This material is being used in our ongoing Class N SCM product development program.
Research Partnerships
PLAN has previously announced research work with InnoTech Alberta. We have one major ongoing initiative with InnoTech Alberta. This initiative revolves around developing superior materials for next generation batteries. In 2018, significant work was completed in developing super capacitors with the ability to hold high density, static electrical charges. Super capacitors have been a focus of research over the last decade as a complimentary technology to chemical battery systems.
With the conversion of our interest in the Thompson Brothers Lithium Property in Manitoba, this work is no longer considered a primary focus. As a result, our focus in 2019 will be to determine what trade secrets can be patented with work performed to date while seeking a partner to co-fund the balance of this research.
Other Assets
As part of our focus on selling product from the Z1 Quarry, we previously announced the divesting of three mineral properties. PLAN currently has mineral rights interests in only two properties including the Z1 Zeolite Quarry in BC and the Buckingham Graphite Property in Quebec.
In 2018, we announced the conversion of our 20% earn in interest in the Thompson Brothers Lithium Project into shares of Snow Lake Resources (see news release dated November 18, 2018). In addition, we recently signed an agreement to convert an old debt due to us into shares of Group Ten Metals. This agreement is subject to Exchange approval. Finally, Berkwood Resources triggered the conversion of our 5% percent earn in on their graphite property (see news release dated October 30, 2018). We earned this interest by funding $250,000 of Berkwood’s latest exploration program to satisfy PLAN’s requirement to spend $250,000 of flow through funds on a Quebec mineral property before December 31, 2018.
As a result of the foregoing, our converted mineral property interests now include the following:
- 10,500,000 common shares of Snow Lake Resources;
- 1,750,000 common shares of Berkwood Resources + 875,000 warrants, exercisable into additional common shares in the capital of Berkwood Resources at a price of $0.15 per share, for a period of 2 years from issuance; and,
- 200,000 common shares of Group Ten Metals Inc. (subject to Exchange approval).
Cost Cutting
In 2018, we had to fund the remaining balance due to complete our earn in rights to the Z-1 Zeolite Quarry. We also spent significant funds on research and development and in converting non-core mineral assets into marketable securities and in funding existing flow through financing requirements.
A significant amount of this work was conducted by our former COO, Derek Knight. Upon completion of many of these projects, we were excited to see Derek move on to become the CEO of Snow Lake Resources, a company in which we own a significant interest. With this move, a significant part of our payroll was eliminated while a valued team member moved on to develop an asset of value to PLAN.
In addition, we have recently terminated or did not renew multiple services contracts, and we were able to procure services at a lower cost in the areas of corporate secretarial, investor relations, and website/IT services.
We are pleased to announce that a long time shareholder, Mr. David Miedzygorski, has accepted a position handling investor relations. Before accepting the position, David took the time to visit the Advanced Materials Centre in Vernon where he observed our Collider Mill producing pulverized zeolite for use in SCM testing and had a tour of our concrete research lab. Mr. Miedzygorski will be paid $1,500 per month and will receive 200,000 stock options, exercisable at $0.05 per share for a period of 2 years, subject to the terms thereto. We welcome Mr. Miedzygorski to our team.
Progressive Planet is a Canadian based mineral exploration company with its flagship Z1 Zeolite Quarry in British Columbia, and a 100% interest in the Buckingham Graphite Project in Quebec.
ON BEHALF OF THE BOARD
Signed “Stephen Harpur”
Stephen Harpur, CPA, CGA, CEO
For further information or investor relations inquiries, please contact us:
1-800-910-3072
Investors@progressiveplanet.ca
www.progressiveplanet.ca
Forward-Looking Statements:
Neither the 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 release.
Source: www.accesswire.com
