Company Press Release (You were right Jas)
Altair International Tennessee Property
Interim Study Results
CODY, Wyo.--(BUSINESS WIRE)--Sept. 18, 1997--Altair International (Alberta Stock Exchange AIL, NASDAQ ALTIF ) has completed the first stage of a project pre-feasibility study on its Camden, Tenn. heavy mineral sand property.
The study is being performed by an independent group with expertise in all aspects of the heavy minerals sand industry. Key conclusions at this point are:
First, based on drilling to date, the resource contains approximately 11 million metric tonnes of heavy minerals. As would be expected in this type of resource, there are significant variations in total heavy mineral grade at various locations in the resource.
Second, the heavy mineral suite includes significant fractions of titanium and zircon minerals. Of the sample observed thus far, the contained titanium minerals appear to be largely depleted of iron, potentially yielding a high value product. There are significant variations in mineral content throughout the resource.
``Variations in mineral grade and content at Camden may provide Altair with the opportunity to commence mining in high value locations and accelerate cash flow,'' said Dr. William Long, president of Altair International. ``Since there
is a wide range of potential product values, it's key that we understand the mineral product quality characteristics.''
The second stage of this study will better establish mineral product
characteristics, determine mine and mineral processing steps, provide initial estimates of mine capital and operating cost and define project economics.
Completion of the pre-feasibility study is scheduled for Nov. 1997.
Shareholders will be kept apprised as meaningful study results are produced.
Altair International is in the development stage of commercializing its state-of-the-art technology, the Centrifugal Jig, which recovers extremely fine, heavy particulate matter using a combination of a mechanical jig and centrifugal force.
Potential applications include gold/mineral recover, coal cleaning and
environmental remediation. Altair is the 100 percent owner of a major titanium metals deposit in Tennessee. |
