🕐29.05.12 - 19:00 Uhr
GREAT QUEST METALS NEWS ALERT
TSX-V: GQ
May 29, 2012
Great Quest to Pursue Natural Phosphate Production
VANCOUVER, BC – Joel Jeangrand, President & CEO of Great Quest Metals
Ltd.
(“Great Quest” or the “Company”) (TSX-V:GQ) is pleased to announce
plans to pursue development of a natural phosphate product for sale in
West Africa.
The Company is highly satisfied with the results of the
recent metallurgical tests, and believes that the results indicate
significant economic potential for the phosphate product derived from
the Tilemsi Phosphate Project (Tilemsi).
The Company will now seek to
complete a preliminary economic assessment, to quantify capital and
operating costs, and analyze the markets for the proposed products.
Results from beneficiation, granulation, and solubility tests confirm
that the phosphate rock can potentially be used as a direct application
fertilizer and a low cost phosphate component for NPK blends.
The
simple method used for beneficiation and granulation suggests that
pursuing this strategy would result in an ultra low cost phosphate
fertilizer alternative.
Given the high grade and the high solubility,
this could potentially be a very versatile and effective fertilizer.
Beneficiation via Wet Screening (See PR dated March 21, 2012)
Phosphate rock from Tilemsi showed good characteristics for efficient
beneficiation.
The phosphate primarily exists within the larger size
fractions, and as a result 98% recovery is achievable by screening for
material larger than 106 microns.
In addition, screening out the fine
fractions can reduce silica, aluminum, and iron.
The screen
beneficiated phosphate grades assayed between 30.3% and 34.9% P[2]O[5].
The product may be beneficiated further by screening at 500 microns.
Successful Granulation (See PR dated March 7, 2012)
Tests confirmed that phosphate rock from Tilemsi can be granulated with
relative ease with the use of a rotating pan granulator.
Of the four
binding agents tested, the utilization of peat and M4 bacteria as
binding agents produced the greatest amount of ideally granulated
product (1-4mm) with minimal abrasiveness.
Successful granulation is an
important factor in transportation and delivery of a quality fertilizer
to the market.
In addition, the granulated product can be used as a
component in NPK blends.
High P[2]O[5] Solubility (See PR dated April 23, 2012)
The acid solubility test measures the immediate availability of
phosphate to plant root systems when the fertilizer is applied.
Tilemsi
phosphate rock achieved high solubility in both citric and formic acid,
showing 19.2% of rock soluble (or 71.1% soluble P[2]O[5]) in citric
acid and 16.9% (62.5% soluble P[2]O[5]) in formic acid.
Solubility
tests were also conducted on the granulated product and showed 64.2%
soluble P[2]O[5 ]in citric acid.
Finished phosphate fertilizers are bought and sold on the concentration
of soluble P[2]O[5], a simple calculation of contained P[2]O[5
]multiplied by solubility.
Most market available fertilizers are 100%
soluble.
The Tilemsi rock, taking into account the rock solubility and
the high achievable concentrations, should still produce a competitive
product.
Commonly used forms of phosphate include: di-ammonium
phosphate (DAP) (46% P[2]O[5]), which retails in Mali for US$829/t in
April 2012 and single superphosphate (SSP) (16% P[2]O[5]), which
retails in the region for about $647/t.
As an example, NPK (15-15-15)
fertilizers are being sold at an average of US$775/t; approximately 35%
of the cost and 33% by weight is from phosphate.
(Source: ICIS/Africa
Fertilizer)
Commenting, Joel Jeangrand, CEO of Great Quest Metals said, “We believe
the natural phosphate product is low hanging fruit for the Company.
A
low capex, low operating cost opportunity offers the potential for a
quick path to production.
We hope to demonstrate that with a PEA.
Given
the size of the exploration target and the quality of the rock, the
Company will also pursue strategies to sell phosphate rock on the
international market.”
ON BEHALF OF THE BOARD OF DIRECTORS
OF GREAT QUEST METALS LTD.
"Joel Jeangrand"
Joel Jeangrand
President & CEO
Great Quest Metals Ltd.
is a Canadian mineral exploration Company with
assets in Mali, West Africa.
The Company is focused on developing the
Tilemsi Phosphate Project, encompassing 1206 sq kmin eastern Mali.
The
Company also holds several gold concessions in the productive Birimian
gold belt in western Mali.
Great Quest is listed on TSX Venture
Exchange (GQ), and the Frankfurt Stock Exchange (GQM).
Investor
Relations - George Butterworth Tel: 604 689 2882 or Toll Free: 877 325
3838.
Please visit us at www.greatquest.com
This news release may contain forward looking statements including, but
not limited to, information regarding geological interpretations,
resources, potential timing and content of exploration programs,
production schedules and projections, receipt of permits, company
financings etc.
Forward looking statements refer to events and
conditions which have not yet taken place and therefore involve
inherent risks and uncertainties.
Actual results may differ materially
from those anticipated in this news release.
Great Quest relies on
litigation protection for forward looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release.
The statements that are not historical facts and are forward-looking
statements involving known and unknown risks and uncertainties could
cause actual results to vary materially from the targeted results.
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