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VANCOUVER, British Columbia, March 15, 2021 (GLOBE NEWSWIRE) -- HUDSON RESOURCES INC. (“Hudson” or the “Company”) (TSX Venture Exchange “HUD”; OTC “HUDRF”) is pleased to announce that metallurgical testwork has commenced on samples from the Nukittooq niobium - tantalum project (“Nukittooq project”) in Greenland. The testwork is being undertaken at SGS Lakefield, Canada, on high-grade niobium tantalum grab samples collected in 2020, under the supervision of Hudson’s consulting Metallurgist, John Goode.
The Nukittooq project occurs within the 100% owned exploration license that covers the Sarfartoq Carbonatite Complex in southeast Greenland. This exploration license also hosts the Company’s ST1 rare earth element (REE) project where Hudson has completed a NI 43-101 Technical Report which outlined a resource of 24 million kg of neodymium oxide and 8 million kg of praseodymium oxide, the two key components in permanent magnets which are driving the green economy. Neodymium oxide is currently trading at over US$100/kg. The carbonatite complex remains largely unexplored.
Hudson assayed 35 grab samples from the Nukittooq project (announced December 14, 2020) with an average grade of 19.35% Nb2O5, 0.27% Ta2O5, 0.38% U3O8 over 112 meters, including 12 grab samples over a 30-meter section with an average grade of 32.35% Nb2O5. Hudson has to date identified several high-grade niobium occurrences within a one-kilometer square zone. This zone will be further evaluated during the Company’s 2021 field program with the objective of outlining drilling targets.
Mineralogical work, which included ore microscopy and QEMSCAN, was recently completed by SGS on grab samples from the Nukittooq project. This work provided very encouraging results with respect to liberation characteristics of the niobium – tantalum minerals and the potential for coarser grinding versus fine grinding for optimum mineral separation which may benefit project economics.
Metallurgical testwork currently underway at SGS includes:
Stage-grinding and de-sliming
Low-intensity magnetic separation (to reject iron minerals)
Batch flotation testing
Previous license holders of the Nukittooq project completed a significant amount of metallurgical testwork which resulted in a feasibility study completed at Curtin University, Australia. Hudson will be building on this extensive work utilizing the most recent technologies with the objective of producing a high-grade niobium - tantalum concentrate in Greenland for export.
Jim Cambon, President commented: “I am pleased to have commenced the metallurgical program on this high-grade niobium – tantalum target at our 100% owned Nukittooq project. The results of this work will allow us to start to define how we can make a cost-effective niobium – tantalum concentrate in Greenland. The mineralogical work and further geological work will help us understand the origins of the high-grade niobium – tantalum mineralization which will be important in targeting a significant resource at Nukittooq.”
Niobium and tantalum are vital to a wide range of products in the energy, infrastructure, transportation, medical and defense sectors. The United States and European Union have designated niobium and tantalum as critical to their security and wellbeing. The niobium price has averaged US$42/kg over the past five years with expected demand growth of 8%/annum. Tantalum currently trades at US$150/kg.
The Company is also advancing its 100% owned Sarfartoq REE project and is currently selecting a laboratory to undertake additional metallurgical flow sheet testwork. The testwork objectives are to further improve rare earth concentrate grades and recoveries and will take advantage of recent advances in metallurgy and hydrometallurgy as well as new developments in reagents and technology. Previous metallurgical testwork utilizing acid baking and leach tests confirmed 94% recovery of rare earths and the ability to make a 45% REO carbonate product.
Hudson also holds a 31.1% interest in Hudson Greenland A/S which owns the White Mountain Anorthosite mine in Greenland, where the Company provides operational, marketing and sales support.
The White Mountain mine has recommenced operations with the commissioning of the rotary drum dryer completed. This allows for year-round operations and is expected to improve production parameters. The mine is currently operating on a 12-hour shift with a crew of 15 people. Covid-19 restrictions are still in place with only minor impacts on the operations to date.
J.R. Goode, P. Eng., is a Qualified Person, as defined by National Instrument 43-101, and reviewed the preparation of the metallurgical and technical information in this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
President and Director
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to complete the Offering on the terms or on the timeline as announced or at all, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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