DGAP-News: DNI Metals Inc. / Key word(s): Miscellaneous DNI Metals - Drilling has Commenced - New Graphite Zones Discovered 26.04.2017 / 13:59 The issuer is solely responsible for the content of this announcement. Toronto, Ontario--(Newsfile Corp. - April 26, 2017) - DNI Metals Inc. (CSE: DNI) ('DNI' or the 'Company') is pleased to announce the following:
Dan Weir, CEO, of DNI commented, 'We very excited to see the project move forward, and especially pleased to see new zones uncovered, on the 63 km2, Vohitsara project. We always thought this project would have multiple zones. Having a partner like Cougar and their experienced drill crew will help make the project move forward in a timely manner.' As per the Definitive agreement signed March 24, 2017 with Cougar:
About DNI Metals Certain advisors and directors of DNI have significant operational experience at historical hard rock graphite mines in Canada (e.g. Ontario and Quebec) and Australia. Between them, they have built three (3) processing plants and designed two (2) others; all, which were shut down in the 1990,'s due to increased Chinese competition. Keith Minty, director, worked at Cal Graphite near Kearny, Ontario. It was our team's understanding of the high production and capital expenditure costs associated withso-called 'hard rock' graphite mining that inspired DNI to search forsaprolite-hosted graphite deposits. Certain parts Madagascar and Brazil, produce graphite from weathered material called saprolite. According to Dictionary.com, saprolite is described as: 'Soft, thoroughly decomposed and porous rock, often rich in clay, formed by the in place chemical weathering of igneous, metamorphic, or sedimentary rocks. Saprolite is especially common in humid and tropical climates. It is usually reddish brown or grayish white and contains those structures (such as cross-stratification) that were present in the original rock from which it formed.' DNI owns a commercially permitted, saprolite-hosted graphite deposit in Madagascar; located 50kms from the country's main seaport. The deposit is located less than two (2)kms from the paved national highway.DNI intends to develop the Vohitsara project, should the economic viability and technical feasibility be established.DNI has not yet established mineral resources or mineral reserves supported by a PEA or mining study (PFS or FS). DNI has a graphite wholesale business, in which it buys and sells high quality graphite. This business has shown a steady increase in volume over the past year. Steven Goertz (MAusIMM, MAIG), who is a qualified person, approved the technical disclosure in this news release. DNI - Canadian Securities Exchange DG7N - Frankfurt DMNKF - OTC Issued: 40,558,775 For further information, contact: DNI Metals Inc. - Dan Weir, CEO 416-595-1195 DanWeir@dnimetals.com Also visit www.dnimetals.com We seek Safe Harbour. This announcement may include forward looking statements. While these statements represent DNI's best current judgment, they are subject to risks and uncertainties that could cause actual results to vary, including risk factors listed in DNI's Annual Information Form and its MD&A's, all of which are available from SEDAR and on its website. Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/2635926.04.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de |
Language: | English |
Company: | DNI Metals Inc. |
Canada | |
ISIN: | CA23327V2084 |
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567719 26.04.2017