Yahoo Finance Magnesium Metal Purity Results Received from Second Calibration Run of Commercialized Pilot Plant
Magnesium Metal Ingot Commercialized Pilot Plant
WASHINGTON, July 14, 2022 (GLOBE NEWSWIRE) -- Western Magnesium Corporation (WMC) (TSXV: WMG.V; Frankfurt-3WM; OTCQB: MLYF) (“Western Magnesium” or the “Company”) has received metal purity results from the second calibration process run of unrefined magnesium metal direct from the commercialized pilot plant.
The third-party metal purity analysis was conducted using Laser Ablation ICP Mass Spectrometry at FiLTER – Fipke Laboratory for Trace Element Research, located at the University of British Columbia Okanagan in Kelowna, BC, Canada.
The metal purity analysis resulted in a magnesium concentration of 99.62%.
Edward Lee, Executive Chairman, said, “The received purity results continue to exceed our expectations and validate without a doubt more than 11 years of research and development. When our proprietary process is fully upscaled it will eventually supply and give American industry the comfort knowing there is a domestic producer of magnesium metal that they can finally rely on for years to come.”
Paul Sauvé, Chief Technology Officer, said, “Achieving unrefined magnesium purity of this concentration directly from our proprietary continuous reactor on the second run will allow us to continue toward full plant optimization.”
This news release was reviewed by Sarpreet Pahal, P. Eng., a Non-Independent Qualified Person.
About Western Magnesium
Western Magnesium's goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and energy costs relative to current methods and processes, while being environmentally friendly.
About FiLTER
FiLTER is a fee for service facility specializing in trace element analysis and electron microscope imaging. The intended users are primarily academic researchers, but the facility is also available for government and industry research at corresponding fee schedules. The lab exists due to an investment from the Government of Canada, through Western Economic Diversification Canada, and the generous donations of Charles Fipke, who provided the funding to purchase the ICP-AES, ICP-MS, Laser Ablation, and SEM instruments.
Media Relations & Corporate Communications: Ashleigh Barry | abarry@westmagcorp.com | (202) 258-4453
Investor Relations: John Ulmer | julmer@westmagcorp.com | (604) 423-2709
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to several factors, including the Company's dolomite reserves may not be mined because of technical, regulatory, financing, or other obstacles, the market price for magnesium may make our resources uneconomic and we may not be able to hire and retain skilled employees. The Company undertakes no obligation to update forward-looking information except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
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