NTH:CC - Nord Precious Metals Poised to Capitalize on Accelerating Silver Demand Driven by Solar Panel Technology Advancements
(TheNewswire)
Nord Precious Metals and TemiskamingTesting Laboratories primed for development of new silverproducts
April 15, 2024 – TheNewswire - Coquitlam, BC - Nord Precious Metals MiningInc., (TSXV:NTH) (OTC:CCWOF) (Frankfurt:4T9B)(the "Company" or "Nord” or “Nord PreciousMetals”), in conjunction with TTL (Temiskaming TestingLaboratories), is strategically positioned to maximize themonetization of silver resources amidst the escalating demand fueledby advancements in solar panel technology.
As highlighted in recent articles by Bloomberg andinsights from Mordor Intelligence, the solar energy market isundergoing rapid expansion, with the installed base expected to surgefrom 1.84 thousand gigawatts in 2024 to 5.08 thousand gigawatts by2029, representing a compound annual growth rate (CAGR) of 28.82%.This growth trajectory is propelled by favorable government policies,declining solar panel prices, and increasing adoption of solarphotovoltaic (PV) systems, particularly in the Asia-Pacificregion.
Matthew Halliday, P.Geo., President of Nord PreciousMetals, expressed, "These are exciting times for North America,as well as for our company in collaboration with TTL. With ourexisting equipment capable of producing silver dore, we anticipateminimal capital expenses for the production of precursors to silverpaste. The cobalt-rich camp and surrounding regions boast an abundanceof critical metals essential for green initiatives. We are committedto positioning North America not only as a primary source for mineralextraction but also as a hub for refining and manufacturing endproducts."
Gregor Gregersen, founder of Silver Bullion,emphasized, "Solar is a great example of how inelastic demand forsilver is," underscoring the pivotal role of silver in the solarenergy sector.
Nord Precious Metals, in collaboration with TTL, isactively exploring avenues to enhance the monetization of silverresources. Building upon its previous news release, Nord PreciousMetals is investigating parts of the silver paste manufacturing streamto optimize silver extraction processes to produce valuable inputs forthat industry and increase future monetization potential.
Despite the burgeoning demand, world silver supply hasbeen constrained in recent years. Mine production slipped by 6.7percent to 842 million ounces in 2023 from a peak of 899 millionounces in 2016 while at the same time world silver demand increased by19 percent over the seven-year period to 1.17 billion ounces in 2023,according to statistics supplied by The Silver Institute in its World Silver Survey2023 . Part of the problem inincreasing supply is the rarity of primary silver mines and depositsthat can be easily and quickly put into production, with about 80% ofthe metal coming from lead, zinc, copper and gold projects with silveras a by-product. According to a research paper published by solarexperts at the University of New South Wales, solar manufacturers will likely require over 20% of thecurrent annual silver supply by 2027, and by 2050, solar panelproduction will use approximately 85–98% of the current globalsilver reserves. ( " The silver learning curve for photovoltaics and projectedsilver demand for net-zero emissions by 2050" published in Progress inPhotovoltaics, Volume 31, Issue 6, June 2023 )
Nord Precious Metals recognizes the significance ofinnovative approaches to maximize silver recovery, profitability andcapitalize on emerging market opportunities.
As the global solar energy market continues to evolve,Nord Precious Metals remains committed to leveraging its expertise insilver and cobalt exploration to meet the growing demands of emergingindustries.
Interested investors can access information about NordPrecious Metals at its website, NordPreciousMetals.com and its social media channels at X(Twitter), LinkedIn,Facebook, and YouTube for which links are available on the Company’swebsite.
About Nord Precious Metals MiningInc.
Nord Precious Metals Mining Inc. (formerly CanadaSilver Cobalt Works Inc.) recently discovered a major high-gradesilver vein system at Castle East located 1.5 km from its 100%-owned,past-producing Castle Mine near Gowganda in the prolific andworld-class silver-cobalt mining district of Northern Ontario. TheCompany has completed a 60,000 m drill program aimed at expanding thesize of the deposit with an update to the resource estimateunderway.
In May 2020, based on a small initial drill program,the Company published the region’s first 43-101 resource estimatethat contained a total of 7.56 million ounces of silver in Inferredresources, comprising very high-grade silver (8,582 grams per tonneun-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections(1A and 1B) of the Castle East Robinson Zone, beginning at a verticaldepth of approximately 400 meters. Note that mineral resources thatare not mineral reserves and do not have demonstrated economicviability. Please refer to the Nord Precious Metals (previously CanadaSilver Cobalt Works) Press Release May 28, 2020, for the resourceestimate. Report reference: Rachidi, M. 2020, NI 43-101 TechnicalReport Mineral Resource Estimate for Castle East, Robinson Zone,Ontario, Canada, with an effective date of May 28, 2020, and asignature date of July 13, 2020.
The Company also has: (1) 14 battery metals propertiesin Northern Quebec where it has recently completed a nearly16,000-metre drill program on the Graal property; and (2) theprospective 1,000-hectare Eby-Otto gold property close to AgnicoEagle’s high-grade Macassa Mine near Kirkland Lake, Ontario where itis exploring. (3) St. Denis-Sangster lithium project – 260 squarekilometers of greenfield exploration ground with numerous pegmatitesfocussed along a significant volcanic sedimentary rock – Archeangranite contact near Cochrane, Ontario contiguous to Power Metals’Case Lake Lithium properties.
Nord Precious Metal’s flagship silver-cobalt Castlemine and 78 sq. km Castle property feature strong exploration upsidefor silver, cobalt, nickel, gold, and copper. With underground accessat the fully owned Castle Mine, an exceptional high-grade silverdiscovery at Castle East, a pilot plant to produce cobalt-rich gravityconcentrates, a processing facility (TTL) in the town of Cobalt, and aproprietary hydrometallurgical process known as Re-2Ox (for thecreation of technical-grade cobalt sulphate as well asnickel-manganese-cobalt (NMC) formulations), Nord Precious Metals isstrategically positioned to become a Canadian leader in thesilver-cobalt space. More information is available at www.nordpreciousmetals.com .
“Frank J. Basa”
Frank J. Basa, P. Eng. Ontario
Chief Executive Officer
For further information, contact:
Frank J. Basa
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.com
Caution Regarding Forward-LookingStatements
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, availability of funds, and others areforward-looking. Forward-looking statements are not guarantees offuture performance and actual results may vary materially from thosestatements. General business conditions are factors that could causeactual results to vary materially from forward-looking statements.
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