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iMinerals Inc.
All rights reserved.
iMinerals Inc.
All rights reserved.
January 20, 2015
Vancouver, B.C. (January 20, 2015) — I-Minerals Inc. (TSX.V: IMA; OTCQX: IMAHF) (“the Company” or “I-Minerals”)
is pleased to announce that further to its press release of December
16, 2014 all contracts with respect to the feasibility study of the
Bovill Kaolin Project (the “FS”) have been awarded. The project kick
off meeting was held January 6, 2015 in Coeur d’Alene. Firms
participating in the FS include:
GBM Engineers LLC | Process Plant and infrastructure including OPEX and CAPEX Project management; compilation of a NI 43-101 technical report |
HDR Engineering | All environmental components; hydrology/hydrogeology |
Tetra Tech, Inc. | Process Plant and infrastructure including OPEX and CAPEX Project management; compilation of a NI 43-101 technical report |
GBM Engineers LLC | Tailings storage facility design |
Mine Development Associates | Mine modelling, ore scheduling, and mineable reserve calculation |
SRK Consulting | Resource modelling and estimation |
Property visits were completed January 7, 2015. GBM is reviewing the
flow sheet designed as part of the June 2014 Prefeasibility Study to
determine if process changes can improve the product mix and product
quality. The final steps of the bulk sample processing at Ginn Mineral
Technology (GMT) in Sandersville, Georgia, which include the preparation
of a metakaolin product, brightness studies, and the final drying of
the halloysite, are nearing completion. At the Minerals Research
Laboratory in Asheville, North Carolina, the quartz/K-spar sand screened
from the primary clay by GMT is being dried in preparation for bench
scale testing to confirm the parameters for the full pilot plant which
is expected to start operation around the first week of February.
“We have secured the services of a top notch engineering team to
complete the feasibility study on the Bovill Kaolin project,” stated
Thomas Conway, President and CEO of I-Minerals Inc. “Our timing for
bringing the project forward is favorable given the increased
availability of high quality consultants as a result of the slowdown in
the metals mining work all the while the demand for our mineral products
is increasing in parallel with the recovery in the US economy.”
A. Lamar Long, CPG, is a qualified person (“QP”) for I-Minerals Inc. and has reviewed and approved the contents of this release.
About I-Minerals Inc.
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 north central Idaho. A 2014
Prefeasibility Study on the Bovill Kaolin Deposit completed by SRK
Consulting (USA) Inc. highlights the potential of the Helmer-Bovill
property’s Bovill Kaolin deposit: after tax NPV6 of $212 million; 30.5%
IRR; 3 year payback and $72.7 million initial CAPEX; $84 million CAPEX
including life of mine sustaining capital over a 25 year mine life.
Ongoing development work is focused on moving project towards
production.
I-Minerals Inc.
per: “Thomas M. Conway”
Thomas M. Conway,
President & CEO
Contact: | I-Minerals Inc. | |
Barry Girling | Paul J. Searle, Investor Relations | |
877-303-6573 or 604-303-6573 extension 102 | 877-303-6573 or 604-303-6573 extension 113 | |
Email: info@imineralsinc.com Or visit our website at www.imineralsinc.com |
Email: psearle@imineralsinc.com |
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
NEWS RELEASE.
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.