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Ucore Enters Agreement to Purchase Separation Plant Development

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douginil   Monday, 09/24/18 01:34:15 PM
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Ucore Enters Agreement to Purchase Separation Plant Development Site in Alaska

September 24, 2018 – HALIFAX, NOVA SCOTIA – Ucore Rare Metals Inc. (TSXV:UCU) (OTCQX:UURAF) (“Ucore” or the “Company”) is pleased to announce it has entered into an agreement to purchase a comprehensive land package for the development of the Company’s forthcoming rare earth and strategic metals refinery and separation plant in Southeast Alaska-based (the “Strategic Metals Complex” or “SMC”).

The development site is located on the North Tongass Highway, Ketchikan, AK, featuring Heavy Industrial Zoning, immediate access to trucking routes, and proximal access to the Ketchikan deep water shipping and container facilities. The 6-acre land package comprises two adjacent lots, located at 10690 N. Tongass Hwy & Blk 10600 N. Tongass Hwy. Ketchikan offers major barge and container handling facilities, excellent utilities, and a skilled immediate-area work force. Situated on the Alaska shipping channels, among the most prolific shipping lanes in the world, the development site brings direct access to major markets in the US and the Pacific Rim by way of ocean shipping, the lowest-cost mode of bulk transport.

Ucore has additionally commenced initial project funding discussions with the Alaska Industrial Development and Export Authority (“AIDEA”) and other lenders; and is in the final stages of securing rare earth by-product and primary ore feedstock for the Alaska SMC, to be transported to Ketchikan in sealed containers from non-Chinese supply sources.

“The selection of the Alaska SMC property is a key element of our project pathway”, said Mike Schrider, Chief Operating Officer of Ucore. “The current owners of the selected site have been very gracious, accommodating all of our needs to secure a suitable site for this intricate project. The site is located north of the City of Ketchikan, within the Ketchikan Gateway Borough. It meets all of our internally developed criteria, including land mass to accommodate our anticipated footprint, as well as being one of very few consistently flat, sufficiently-sized and suitably-zoned commercial properties in the area. With highway frontage and fundamental infrastructure to support the planned accesses, services and utilities, I believe we could not have selected a more promising development location.”

“The selected site in Ketchikan is a critical milestone for the development of final engineering and environmental permitting plans and applications”, stated Randy MacGillivray, VP Project Development of Ucore Rare Metals, Inc. “It will allow us the opportunity to initiate public consultation and the necessary government interaction in order to construct a state-of-the-art metals separation facility that will contribute to the local economy while protecting the environment in a safety conscious manner.”

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Hmmm Looks like they will be importing RRE ore before the Alaska mine is generating any ore, from Lynas maybe?

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