i-minerals Announces Positive Results of the Preliminary Economic Assessment Study of Its Bovill Kaolin Halloysite Quartz and...
Date : 12/05/2011 @ 8:00AM
Source : PR Newswire
Stock : I-minerals (PC) (IMAHF)
Quote : 0.25 0.0118 (4.95%) @ 4:00PM
i-minerals Announces Positive Results of the Preliminary Economic Assessment Study of Its Bovill Kaolin Halloysite Quartz and...
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I-minerals (PC) (USOTC:IMAHF)
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Today : Monday 5 December 2011
i-minerals inc. (TSX.V: IMA; Pink Sheets: IMAHF) ("the Company") is pleased to announce estimated inferred Mineral Resources of 38.4 million short tons and the accompanying results of its Preliminary Economic Assessment Study ("PEA") for its Bovill Kaolin-Halloysite-Quartz-K-Spar Project (the "Bovill Kaolin Project"). Based upon a 26 year mine model, the PEA yielded an after tax NPV of US$155 million and an IRR of 29% .The PEA supporting the Mineral Resource estimate presented in this press release was managed by SRK Consulting (US) Inc. ("SRK") in Lakewood, Colorado, who also completed the Mineral Resource estimation. Tetra Tech ("TT") was commissioned by the Company to complete environmental, geotechnical, and site reclamation engineering and design. Roberts & Schaefer ("R&S) was commissioned to complete the design for the planned processing and product packaging facilities.
Dr. Bart Stryhas constructed the geologic and resource model reported below. He is responsible for the resource estimation methodology and the resource statement. Dr. Stryhas is independent of the issuer applying all of the tests in Section 1.4 of NI 43-101.
The PEA is being completed by SRK, TT, and R&S and will be filed on SEDAR (at www.sedar.com) in its entirety as required. All values presented in this press release are in US imperial units and 4Q 2011 US dollars.
