McKenzie Bay Selects SNC Lavalin To Complete Lac Dore
Feasibility Study
BRIGHTON, MICHIGAN--APRIL 11, 2001 - 22:27 EDT
McKenzie Bay International Ltd, "MKBY"
[otc-pinks], has selected SNC Lavalin, Inc. to complete a bankable
feasibility study on the Lac Dore Vanadium deposit near
Chibougamau, Quebec. The study is scheduled for completion by the
end of the year.
The feasibility study, fully funded, commissioned on February 22,
2001, includes tests to reconfirm prior testing proving the
recovery of standard grade vanadium pentoxide and to prove the
recovery of battery grade vanadium pentoxide. A test will be made
to determine the extent of titanium recovery employing
technologically advanced recovery methods as compared with prior
testing methods, which indicated physical separation of ilmenite
and magnetite was partial and part of the ilmenite, about 3% of
milling waste, could be recovered.
McKenzie Bay is seeking to develop Lac Dore into the first primary
producing vanadium pentoxide mine in North America and a major
producer of battery grade vanadium oxides. Two new, revolutionary,
energy related vanadium technologies require large quantities of
high quality, battery grade, vanadium oxides.
Prior testing indicated key contaminants in the Lac Dore
concentrate were significantly lower than those in South African
concentrates, less than 1.0% SiO2 vs 1.5-2.0% SiO2, which will
result in significant cost savings in the production of vanadium
pentoxide due to lower sodium salt consumption. Other contaminants
such as Calcium, Chromium and Magnesium, are proportionately
lower.
McKenzie Bay's wholly owned Canadian subsidiary, McKenzie Bay
Resources Ltd, owns Lac Dore, North America's largest vanadium
deposit, second largest in the world, containing a combined
proven, indicated and inferred minable vanadium pentoxide resource
of five billion pounds. Soquem Inc., a division of SGF Mineral
Inc, which is a Subsidiary of Societe Generale de Financement
Province de Quebec, has the right to acquire a 20% interest in the
Project upon acceptance of a positive bankable study.
The statements made in this press release, which are not
historical facts, contain certain forward-looking statements
concerning potential developments affecting the business,
prospects, financial condition and other aspects of the company to
which this release pertains. The actual results of the specific
items described in this release, and the company's operations
generally, may differ materially from what is projected in such
forward-looking statements. Although such statements are based
upon the best judgments of management of the company as of the
date of this release, significant deviations in magnitude, timing
and other factors may result from business risks and uncertainties
including, without limitation, the company's dependence on third
parties, general market and economic conditions, technical
factors, the availability of outside capital, receipt of revenues
and other factors, many of which are beyond the control of the
company. The company disclaims any obligation to update
information contained in any forward-looking statement. In
addition, the description of past or present performance as to any
person is not an indication of future performance or success. The
company will remain dependent upon obtaining future financing to
support its continued growth and development, and to successfully
implement its business plan. |
