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iMinerals Inc.
All rights reserved.
iMinerals Inc.
All rights reserved.
March 5, 2014
Vancouver, B.C. - March 5, 2014 - I-Minerals Inc. (TSX.V: IMA; OTCQX: IMAHF) (the “Company”)
is pleased to announce it has received very favorable preliminary
results from Ginn Mineral Technology (GMT) from pilot-scale work
designed to optimize the process equipment separation techniques to
increase the grade (concentration) of I-Minerals’ halloysite product.
Several gravity and density separation methods and a novel differential
flotation technique were evaluated. All of the methods evaluated
significantly increased the concentration of halloysite. The
differential flotation process ultimately yielded halloysite
concentrations in excess of 90% based upon visual estimations from
Scanning Electron Micrographs (SEMs).
In late 2013 I-Minerals excavated a bulk sample of approximately seven
tons of crude primary clay from a near surface area of Kelly’s Hump
identified during drilling in November 2013 (see I-Minerals press
releases of October 2 and November 27, 2013). SEM work at the University
of Idaho identified this area as containing strong halloysite
concentrations within the primary clay that consists almost exclusively
of K-feldspar, quartz, kaolinite, and halloysite. Upon receipt of the
bulk sample in late 2013, GMT completed initial separations of the sand
fraction (K-feldspar and quartz) and the clay fraction (kaolinite and
halloysite). The sand fraction material has subsequently been shipped to
Minerals Research Laboratory at North Carolina State University (“MRL”)
for separation and evaluation of the quartz and K-feldspar minerals.
After the initial pilot-scale trials separated the clay fraction, GMT
undertook additional trials to separate and concentrate halloysite and
kaolinite clay products. The halloysite concentration trials focused on
three separation elements: (1) unique clay characteristics such as
relative density and morphology, (2) processing equipment options and
(3) critical physical and chemical processing parameters. A novel,
differential flotation process was also developed that exploited
halloysite’s unique clay characteristics for optimized concentration.
Product samples derived from the trials were submitted to one of GMT’s
partners, The Georgia Tech Research Institute, for SEM analysis. The
samples were prepared using a “wet-oriented” technique that allowed for
more objective sample population viewing when compared to the regular
dry preparation techniques. The wet dispersion allows the particles to
be more oriented and discrete versus the dry preparation technique where
particle agglomeration is more prevalent.
The SEM photos using the new wet process preparation demonstrated high
quality and consistent concentrations of halloysite in the product using
the gravity optimized processing configurations. The results from the
differential flotation testing proved to be even better and yielded
extremely high halloysite quality that exceeded 90% concentrations based
on SEM estimations.
“Historic halloysite analysis by Durtec GmbH has indicated the
halloysite from our Helmer-Bovill property has very low heavy metals
content and one of the best aspect ratios of any halloysite tested,’
commented Thomas Conway, President and CEO of I-Minerals. “These latest
result now indicates we can produce at pilot levels a high concentration
product of one of the highest quality halloysites known. We believe
these results open the door even wider for high value life sciences and
polymer applications.”
Work at GMT on this material is continuing in order to investigate
options for product color enhancement, as well as producing another
sample of metakaolin derived from the kaolinite product fraction. Going
forward, the flotation processing technique will be further evaluated
for implementation into the process flow scheme as a high grade product
option.
Gin Mineral Research is a private research and development firm located
in Sandersville, GA. They have mineral and technology expertise, with
notable industrial mineral emphasis, in separation and dewatering
technologies, particle sizing, surface chemistry, thermal processing,
and pigment calcination.
A. Lamar Long, CPG, is a qualified person (“QP”) for I-Minerals Inc. and has reviewed and approved the contents of this release.
In an unrelated matter, I-Minerals has completed the debt settlement
agreement announced February 14, 2014, pursuant to which $215,439.20 of
indebtedness was satisfied by the issuance of 1,001,112 common shares at
a deemed price of $0.2152 per share, all of which shares are subject to
a hold period in Canada until July 5, 2014.
About I-Minerals
I-Minerals is developing multiple deposits of high purity-high value
halloysite, quartz, potassium feldspar and kaolin at its strategically
located Helmer-Bovill property in western Idaho. A 2013 Prefeasibility
Study completed by SRK Consulting (USA) Inc. highlights the potential of
the Helmer-Bovill property: after tax NPV6 of $150 million; 28% IRR; 3
year payback and $67 million initial CAPEX; $84 million CAPEX including
life of mine sustaining capital over a 26 year mine life. Ongoing
development work is focused on upgrading the probable reserve to a
proven reserve as the Company moves through the feasibility process
towards production.
I-Minerals Inc.
Per: “Thomas M. Conway”
Thomas M. Conway, President & CEO
This News Release includes certain “forward looking statements” within
the meaning of the United States Private Securities Litigation Reform
Act of 1995. Without limitation, statements regarding potential
mineralization and resources, exploration results, and future plans and
objectives of the Company are forward looking statements that involve
various risks. Actual results could differ materially from those
projected as a result of the following factors, among others: changes in
the world wide price of mineral market conditions, risks inherent in
mineral exploration, risk associated with development, construction and
mining operations, the uncertainty of future profitability and
uncertainty of access to additional capital.
Contact: Barry Girling
877-303-6573 or 604-303-6573
Email: info@imineralsinc.com / Or visit our website at www.imineralsinc.com
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RELEASE.