Lachute, Québec--(Newsfile Corp. - January 10, 2024) - Québec Innovative Materials Corp. (CSE: QIMC) (FSE: 7FJ) ("QI Materials", "QIMC", or the "Company") provides an update on the Roncevaux Silica Property.
As disclosed in the Company's August 31, 2022 news release, Qi Materials acquired mineral claims from HPQ Silicon Inc. (HPQ"), including the Roncevaux Silica Property. The Qi Materials team performed a recent site visit to the property in late October 2023.
"We would like to thank our partner HPQ for this opportunity to further develop this asset and meet their growing high grade silica demand," stated John Karagiannidis, Executive Chairman.
Roncevaux Silica Property
The Ronceveux Silica Property consists of a high purity quartz vein located in southern Quebec, approximately 50km from Amqui, Quebec, as shown on Figure 1. The property consists of 27 mineral claims totalling 1570 hectares. Samples were collected by means of existing trenches found on the property. The quartz vein is estimated to potentially be over 300m long with the width being unknown but likely 10's of metres wide (as suggested by historical work and reports).
"We believe this is another significant addition to our growing high grade silica Quebec portfolio," stated Raymond Wladichuk, CEO.
Historical work conducted by HPQ Silicon Inc. indicates that the purity of the quartz vein is as high as 99.8% SiO2. HPQ conducted testing on the quartz material from this property and concluded that it was able to be converted to silicon metal by means of their patented processes.
The recent samples collected by the Qi Materials field team indicate that visually, this appears to be accurate (Photos in Figure 2 below). Tens of kilograms of samples have been collected for testing and analysis by the Company.
Figure 1 - Roncevaux property location, southern Quebec.
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Figure 2 - Roncevaux high grade silica samples.
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The author of one of the historical reports acquired by means of SIGEOM (the Quebec government's publicly available geoscience database) provides an estimated tonnage of over 400,000 tonnes of quartz material (if extrapolated to a depth of 50m) (this is a non-43-101 compliant estimate and extracted from publically available data such as historical assessment reports, prospecting reports, etc.).
Please be advised that a qualified person has not completed sufficient work to classify any mineral resources as defined by National Instrument (NI) 43-101; it is therefore uncertain if future exploration will result in the delineation of mineral resources.
Qualified Person
Raymond Wladichuk, P.Geo., (OGQ permit number: 02287), is the CEO of Québec Innovative Materials Corp., and a Qualified Person for National Instrument 43-101 - Standards for Disclosure of Mineral Projects, has reviewed and approved the scientific and technical information contained in the news release.
About High Purity Quartz
High purity quartz (SiO2) plays a pivotal role in two critical technologies shaping the future: solar panels and lithium silicon anode batteries. In the realm of renewable energy, quartz is the raw feed source of silicon metal (Si), a fundamental component in producing high-efficiency solar panels. Beyond solar panels, silicon metal is also a promising ingredient in lithium silicon anode batteries, offering the potential for increased energy storage capacity and improved battery performance, underscoring the indispensable role of quartz in advancing sustainable energy and cutting-edge technology. Furthermore, quartz-derived silicon has gained significant strategic importance, recently earning a place on the USA's strategic mineral list.
About Québec Innovative Materials Corp.
Québec Innovative Materials Corp. (CSE: QIMC) (FSE: 7FJ) (formerly Québec Silica Resources Corp.) is a mineral exploration, and development company with a portfolio of natural resource assets including high grade silica, hydrogen, and helium properties. QIMC is working toward becoming a sustainable supplier of resources which are essential in advanced batteries and the electrification of the green economy. The Company has a 100% interest in the Charlevoix Silica Project, near Clermont, Québec, Canada, the River Valley Silica Project near Sudbury, Canada, as well as other mineral properties in Québec. The Company also performs pilot processing on industrial minerals, refining processes to create custom products.
Additional information on Québec Innovative Materials Corp.is available at www.qimaterials.com.
On Behalf of the Board of Directors,
QUÉBEC INNOVATIVE MATERIALS CORP.
"Raymond Wladichuk, P.Geo."
Chief Executive Officer
For further information, please contact:
Investor Relations
Tel: +1 (514) 358-8840
Email: info@qimaterials.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the CSE policies) accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Québec Innovative Materials' actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Although Québec Innovative Materials believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Québec Innovative Materials Corp. to implement its business strategies; competition; and other assumptions, risks and uncertainties.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
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SOURCE: Quebec Innovative Materials Corp.
