Toronto – KWG Resources Inc. (CSE: KWG) (CSE: KWG.A) (FSE: KW61) (“KWG” or the “Company”) announces that it has received and filed as a material change notice on its SEDAR profile, a copy of Canadian Chromite R&D Initiative Chapter 1.1 Chromite R&D Initiative – Background, Objectives, Approach and Summary of Achievements as of January 2022 and Canadian Chromite R&D Initiative Chapter 3.2.1 Direct reduction of chromite Conceptual approach and overview of September 2021.
The two reports published by Natural Resources Canada reputable division of CanmetMINING, 555 Booth Street, Ottawa (ON), K1A 0G1, comment directly and very favorably on the results of research on the main aspects of the direct reduction method for beneficiation of chromite, patented by KWG with additional technology patented by CanmetMINING under the direction of the famous metallurgical scientist Dr. Dogan Paktunc. Research results suggest that the patented method can achieve a 30% lower cost compared to other methods currently in use, plus a reduced carbon footprint of 55% or more, plus a production stream of refractory material secondary by-products with a significant market value to contribute to the revenue process and a concomitant reduction in production costs and efficiency gains. This process has the potential to significantly improve the economic viability of the Ring of Fire.
As part of from Canada Recently announced Critical Minerals Strategy, CanmetMINING has committed to funding another 2-year research program to prepare for scaling up the direct reduction process before piloting commercialization. The full Chromite R&D Initiative research report is being translated for archiving on the Geological Survey of Canada.
“This is an extremely encouraging development, as from Canada crucial role in contributing to North America’s supply chain and strategic security, in its ability to manufacture stainless steels,” said KWG President Megan McElwain. ‘It’s wonderful to have Natural Resources Canada prove fire genius Frank Winter, a “melt shop” virtuoso. We are sorry that he left us before he could celebrate his very important scientific breakthrough.
KWG is the operator of the Black Horse chromite project after acquiring a 50% interest through Bold Ventures Inc. which is carried for 10% (20% of KWG’s capital in the JV) by KWG, financing all exploration expenses. KWG holds a 50% interest in the McFaulds Lake copper/zinc project and a 30% interest in the Big Daddy chromite project. KWG also owns 100% of CCC which has staked mining concessions between Aroland, Ontario (near Nakina) and the Ring of Fire. CCC conducted a survey and soil testing program to assess the prospects for engineering and constructing a railway along this route between the Ring of Fire and Aroland, Ontario. CCC engaged Cormorant Utilities and Rail-Veyor Technologies for the engineering proposals for the construction of a transportation and utility corridor within the route and received these proposals. KWG has also acquired intellectual property interests, including a method for the direct reduction of chromite to metallic iron and chromium using natural gas. KWG Subsidiary Muketi Metallurgical LP acquired two chromite refining patents in Canada and one in the UNITED STATES and in South Africa and pursues a claim Turkey.
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The information contained in this press release may imply forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document, and KWG disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws. Although management believes that the expectations expressed in these forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities which may be described herein and, accordingly, undue reliance should not be placed on them.
(C) 2022 electronic news edition, source ENP Newswire