Green Battery Minerals Inc. ("GEM")
(TSX-V: GEM, FSE: BK2P,
WKN: A2QENP OTC: GBMIF) in conjunction with Volt Carbon
Technologies Inc. (“VCT” or “Volt Carbon”) (TSX-V: VCT, OTCQB:
TORVF, BERLIN: WNF) is pleased to announce the signing of a
preliminary mineral processing agreement dated as of June 1, 2023
(the “Preliminary Mineral Processing Agreement”).
BackgroundWith reference to
GEM’s prior News Release dated May 16, 2023, GEM provided Volt
Carbon with a single 5 kilogram sample (the “Sample”) of crushed
feedstock that was obtained from GEM’s 100% owned Berkwood Graphite
project in Quebec, Canada. Volt Carbon processed the Sample using
its proprietary dry separation process technology as a test. The
test result yielded 146 grams of graphite flake per kilogram of
crushed feedstock, reflecting a 14.6% yield of graphite flakes per
kilogram of feedstock. The processed material was subsequently sent
to a third-party lab (Base Metallurgist Laboratories Ltd. in
Kamloops, British Columbia) for independent testing. Base
Metallurgist Laboratories Ltd. independently verified that the Volt
Carbon-processed Sample yielded a graphite content of 91.55%, with
total carbon showing at 97%.
VCT’s Proprietary
Dry Separation ProcessVolt Carbon
has developed a proprietary dry separation process that uses air as
its separation medium (the “Process”). The major benefits of the
Process compared to traditional processing are that the Process:
(i) does not use water, which eliminates a significant amount of
waste traditionally associated with the purification of graphite
due to its solventless and reagentless nature; (ii) does not
produce an effluent; and (iii) the Process results in the retention
of the original quality of the graphite flakes (large +50 mesh and
jumbo +35 mesh sized flakes). Importantly, GEM and Volt Carbon
believe that large and jumbo sized flakes attain premium pricing
due to their high-end performance as anode material for lithium-ion
batteries (“LIBs”).
Figure 1: Samples of
ore, feedstock and air separated
graphite
Thomas Yingling, CEO of Green Battery Minerals,
commented “We are excited to team up with V-Bond Lee, President of
Volt Carbon. Mr. Lee has successfully developed and commercialized
new innovations and technologies for various fortune 500 companies,
Mr. Lee has over 35+ years of engineering experience, and holds
patents in both automotive and aerospace industries. We look
forward to working with Mr. Lee.”
Path ForwardBased on the
results from the Sample test, GEM and Volt Carbon negotiated and
signed the Preliminary Mineral Processing Agreement. The
Preliminary Mineral Processing Agreement outlines a path forward
from initial feasibility studies, to bulk sampling and testing, and
through to mine development and production.
In the feasibility phase, the graphite ore will
be extracted from GEM’s Berkwood Graphite project, delivered to
Volt Carbon’s test processing facility located in Scarborough,
Ontario (“VCT’s Facility”) and then processed by Volt Carbon using
the Process. The objective of the feasibility phase is to collect
sufficient data so that Volt Carbon can reasonably estimate the
capital expenditures required to manufacture the proprietary
portable machinery needed to conduct the bulk-sampling phase.
Although the ore processing is expected to cost an aggregate of
$50K/ton, Volt Carbon expects that it will be necessary to raise
additional capital to fund the manufacture of the portable
machinery.
Assuming the successful manufacture of he
portable machinery required, in the bulk-sampling phase, the
graphite ore will be extracted from GEM’s Berkwood Graphite
project, GEM will crush the graphite ore to 4 inch and deliver the
same to VCT’s Facility for processing using the Process. It is
expected that the flake graphite extracted from the bulk-samples
will be saleable and GEM and Volt Carbon have agreed to share the
profits from the sale of the same on a 50/50 basis.
In the mine production / development phase, the
graphite ore will be extracted from GEM’s Berkwood Graphite
project, GEM will crush the graphite ore to -12 mesh and deliver
the same to VCT’s Facility for processing using the Process. The
profits from the sale of the graphite concentrate will be split on
a 50/50 basis.
Thomas Yingling, CEO of Green Battery Minerals,
commented, “Following our successful tests, we are pleased to now
have formalized a processing agreement that will provide us with
access to an exceptional technology that not only delivers higher
quality end product, but that does not produce toxic effluent.
Furthermore, we have reasons to believe that the new technology has
major cost benefits, which we will determine more accurately during
this next phase. In conversations with major car manufacturers, the
end market for most LIBs, it has become clear that the
environmental footprint is a major deciding factor in supplier
selection. Even with the shortage of graphite, having a process
that provides such major improvements over traditional processing
methods positions us well to become an important supplier of
battery minerals to the EV industry and beyond.”
“The mineral processing agreement is a great
step forward for Volt Carbon to develop a recurring revenue stream
in graphite purification. Our dry processes will enable sustainable
mineral separation processes using no water. Our team is developing
this method to be one of the most ESG friendly ways of mineral
separation. I’m looking forward to seeing the scale up of the dry
separation process with GEM.” – V-Bond Lee, CEO of Volt Carbon
Technologies.
About Volt Carbon
Volt Carbon is a publicly traded carbon science
company, with specific interests in energy storage and green energy
creation, with holdings in mining claims in the provinces of
Ontario, Quebec and British Columbia in Canada. For the latest
information on Volt Carbon’s properties and news please refer to
the website www.voltcarbontech.com.
About GEMGreen
Battery Minerals is managed by a team with over 150 years of
collective experience with a proven track record of mine discovery,
commissioning and operation. Green Battery Minerals owns 100% of
the Berkwood graphite deposit in Québec. Green Battery Minerals’
goal is to define sufficient graphite to ensure Berkwood graphite
deposit will be resourced to mine high-demand product in sufficient
quantities to comprise a significant feed the electric vehicle
battery market for multiple decades.
Qualified PersonChristian Derosier, P.Geo.,
PhD., is the qualified person (QP) as defined in National
Instrument 43-101. Dr. Derosier has reviewed and approved the
technical content of this news release.
On behalf of the Board of Directors of
Green Battery Minerals Inc,
Thomas YinglingPresident, CEO & Director
Contacts:Tel:
(604-343-7740)info@greenbatteryminerals.com
www.greenbatteryminerals.com
On behalf of the Board of
Directors of Volt Carbon Technologies
Inc,
V-Bond Lee, P. Eng.CEO, President, Chairman of
the Board and Director
Contacts:Email:
info@voltcarbontech.comTel: (647-546-7049)
Neither 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 release.
FORWARD LOOKING STATEMENTS:
This press release contains forward-looking statements, within the
meaning of applicable securities legislation, concerning Volt’s
business and affairs. In certain cases, forward-looking
statements can be identified by the use of words such as ‘‘plans’’,
‘‘expects’’ or ‘‘does not expect’’, “intends” ‘‘budget’’,
‘‘scheduled’’, ‘‘estimates’’, “forecasts’’, ‘‘intends’’,
‘‘anticipates’’ or variations of such words and phrases or state
that certain actions, events or results ‘‘may’’, ‘‘could’’,
‘‘would’’, ‘‘might’’ or ‘‘will be taken’’, ‘‘occur’’ or ‘‘be
achieved’’.
These forward-looking statements are based on
current expectations and are naturally subject to uncertainty and
changes in circumstances that may cause actual results to differ
materially. Forward-looking statements involve significant
risks and uncertainties, should not be read as guarantees of future
performance or results, and will not necessarily be accurate
indications of whether or not such results will be achieved. Such
statements include the statement with respect to: (i) GEM’s and
Volt Carbon’s belief that large and jumbo sized flakes attain
premium pricing due to their high-end performance as anode material
for lithium-ion batteries; (ii) the ability of Volt Carbon to
collect sufficient data during the feasibility phase to allow Volt
Carbon to reasonably estimate the capital expenditures required to
manufacture the proprietary portable machinery needed to conduct
the bulk-sampling phase; (iii) the expectation that the ore
processing will cost an aggregate of $50K/ton; (iv) the expectation
that Volt Carbon will need to raise additional capital to fund the
manufacture of the portable machinery; (v) the expectation that the
flake graphite extracted from the bulk-samples will be saleable;
(vi) the belief by GEM and Volt Carbon that the sale of the flake
graphite extracted from the bulk-samples will result in profits. A
number of factors, including those discussed above, could cause
actual results to differ materially from the results discussed in
the forward-looking statements. Any such forward-looking statements
are expressly qualified in their entirety by this cautionary
statement.
All of the forward-looking statements made in
this press release are qualified by these cautionary
statements. Readers are cautioned not to place undue reliance
on such forward-looking statements. Forward-looking
information is provided as of the date of this press release, and
Volt assumes no obligation to update or revise them to reflect new
events or circumstances, except as may be required under applicable
securities legislation.
Volt Carbon Technologies (TSXV:VCT)
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