VANCOUVER, BC–(Marketwired – March 29, 2017) – I-Minerals lnc. (TSX VENTURE: IMA) (OTCQB: IMAHF) (FRANKFURT: 61M) (the “Company”) is pleased to report the results of recent research that confirms the excellent quality of the Company’s high purity quartz products. Recent testing by a ceramic manufacturer confirmed the I-Minerals TrueQ™1 is a desirable product for use in ceramic glazes as a clear transparent glaze formed during testing. In addition, I-Minerals achieved excellent results from a recent soda-lime-silicate glass fusion confirming TrueQ™1 produces a more water white or less colored glass as compared with another western quartz product.
“These test results confirm our TrueQ™1is a leading quartz product for use in ceramic and glaze applications,” stated Thomas Conway, President and CEO of I-Minerals Inc. “Achieving these strong results shows our quartz not only has excellent chemistry, but it also performs very well in commercial applications.”
The results of this work not only support the low Fe values, but also discovered the clarity of the quartz is as clear as the color. A heavy liquid separation was completed using a certified analytical company and showed heavy minerals were below detection in the TrueQ™ products. This research, in addition to specific wet and dry processing techniques, preserves the physical particle size distribution and quality aspects of the product, which sets us apart from the incumbent producer.
I-Minerals has developed different grades of quartz, TrueQ™1 (+99.86% SiO2) and its high purity TrueQ™3 (+99.97% SiO2). Currently, research is underway to investigate the geologic deposits of the Helmer-Bovill property for areas that may also have areas of low titanium.
These test results confirm TrueQ™1 is well suited for use in the solar glass, specialty glass, display glass, fine ceramics and glaze markets, while opportunities exist for TrueQ™3 as a feedstock for certain ultra-high purity quartz applications and potentially the sodium silicate manufacturing industries. Based on analytical testing to date, a small reduction in titanium will open up additional higher value markets including fiber optics and LED lighting.
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 Idaho. A 2016 Feasibility Study on the Bovill Kaolin Deposit led by GBM Engineers LLC, who were responsible for overall project management and the process plant and infrastructure design, including OPEX and CAPEX calculated an After Tax NPV of US$249.8 million with a 25.8% After Tax IRR. Initial CAPEX was estimated at $108.3 million with a 3.7 year After Tax payback. Other engineering services were provided by HDR Engineering, Inc. (all environmental components; hydrology / hydrogeology; road design); Tetra Tech, Inc. (tailings storage facility design); Mine Development Associates (mine modelling; ore scheduling; mineral reserve estimation); and SRK Consulting (U.S.) Inc. (mineral resource estimation). Permitting work with the State of Idaho is well underway.
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.
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
Contact:
Barry Girling
877-303-6573 or 604-303-6573 ext. 102
Email: [email protected]
Or visit our website at www.imineralsinc.com
Paul J. Searle
Investor Relations
877-303-6573 or 604-303-6573 ext. 113
Email: [email protected]
