MONTREAL, QUEBEC–(Marketwired – Oct. 7, 2015) – NEVADO RESOURCES CORPORATION (TSX VENTURE:VDO) (FRANKFURT:NSV) (“Nevado” or the “Corporation”) wishes to give an update on its ongoing activities. The Corporation remains active and continues to search for financing that will enable it to pursue its objectives.
In January 2015, the Corporation secured a 70%-30% joint venture with Neomet Technologies Inc. The joint venture has the exclusive right to use Neomet’s patent-pending technology to recover metals from the La Blache project and similar ore deposits in Quebec, Ontario, Newfoundland and Labrador, as well as other regions of North America as may be agreed by the joint venture parties.
The Corporation’s holds a 100% interest in the La Blache titanium-vanadium-iron property, which comprises 66 claims covering an area of 3,647 hectares (36 km2), located some 150 km northwest of Baie-Comeau in the Upper North Shore region of Quebec.
Michael Curtis, President and CEO of Nevado, said: “We are working to complete a financing that will enable us to prove that Neomet’s processing technology works at a larger scale. As disclosed in our February 9, 2012 news release, Neomet’s pilot plant testing of a 150-kg sample from our La Blache property generated over 99.9%-pure titanium dioxide (TiO2) and vanadium (AMV, V2O5, and V2O3) from a continuous process, as well as pure hematite (Fe2O3). The planned scale-up step will test a 20-ton bulk sample at a rate of one ton per day using the same continuous process, which is more than one hundred times the size of the first pilot plant.”
About Nevado Resources
Nevado Resources is a junior strategic metals company with properties located in Canada. The Corporation has a 70%-30% joint venture with Neomet Technologies Inc. and owns a 100% interest in the La Blache titanium-vanadium-iron property in Northern Quebec, the Fermont graphite property near Focus Graphite’s Lac Knife property, and the Steel River gold-silver-copper property in Ontario’s Schreiber-Hemlo camp.
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. The statements made in this news release that are not historical facts are “forward-looking statements” and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these “forward-looking” statements.
President and Chief Executive Officer