(TheNewswire)
Highlights
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Jervois to receive a A$0.5 milliongrant under the New South Wales (“NSW”) Government’s CriticalMinerals Activation Fund
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Jervois will use the grant fortestwork to advance its 100%-owned Nico Young nickel-cobalt project inNSW, Australia
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Results from these studies will feedinto a Bankable Feasibility Study (“BFS”) for Nico Young toproduce mixed hydroxide product (“MHP”)
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May 2019 Canadian National Institute(“NI”) 43-101 Preliminary Economic Assessment (“PEA”)confirmed Nico Young’s technical and commercial viability
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Jervois plans to recommence resourcedefinition drilling at Nico Young in January 2023
21 November, 2022 – TheNewswire – Australia- Jervois Global Limited (“ Jervois ”) (ASX:JRV) (TSXV:JRV) (OTC:JRVMF) is pleased to announce it will receive A$0.5million funding from the NSW Government to advance testwork associatedwith underpinning a BFS for its 100%-owned Nico Young nickel-cobaltproject under the NSW Critical Minerals and High-Tech MetalsActivation Fund, Stream 1. The Critical Minerals and High-TechActivation Fund is designed to support regional NSW to become a globalleader in these sectors.
Funding will support Jervois to undertake furthermetallurgical test work, environmental and water studies, which willfeed into a BFS. It will also underpin environmental andinfrastructure permitting required to advance the project’sdevelopment. These studies are a critical element that will improveprocess definition, progress water access management and keyenvironmental impact studies (“ EIS ”), define the product path-to-market,de-risk the project and support project financing.
Successful completion of these studies will build onthe Prefeasibility Study (publicly released as a NI 43-101 PEA in May2019) which confirmed the technical and commercial viability of anopen cut mine operation, heap leaching nickel and cobalt laterite oreto produce either an intermediate MHP or refining through to batterygrade nickel sulphate and cobalt in refined sulphide.
As previous announced, Jervois’ Board has approved adrilling campaign at Nico Young, which is now planned for early 2023following heavy rains across eastern Australia during 2022. Planningfor the drilling campaign is well underway, with an initial focus onconverting Inferred resources into the Indicated category on theArdnaree deposit.
Jervois’s view is that heap leaching is the mostattractive development route for the low grade nickel-cobaltmineralisation of Eastern Australia. Heap leaching nickel laterites indry climates is a sensible, lower capital and reduced technical andenvironmental risk development approach versus the high capital andelevated construction and operating risk nature of high pressure acidleach (“ HPAL ”) facilities.
Jervois will now execute a Funding Deed with the NSWGovernment that will contain mutually agreed performance milestonesagainst which the grant will be released; Jervois will co-fund as partof its preparatory work for a final BFS.
On behalf of Jervois Global Limited
Bryce Crocker, CEO
For further information, please contact:
Investors and analysts: James May Chief Financial Officer Jervois | Media: Nathan Ryan NWR Communications nathan.ryan@nwrcommunications.com.au Mob: +61 420 582 887 |
Forward-LookingStatements
This news release may containcertain “Forward-Looking Statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 andapplicable Canadian securities laws. When used in this news release,the words “anticipate”, “believe”, “estimate”,“expect”, “target, “plan”, “forecast”, “may”,“schedule”, “expected” and other similar words or expressionsidentify forward-looking statements or information. Theseforward-looking statements or information may relate to the studies tobe undertaken at Nico Young, the funding to be received from the NSWGovernment, the timing and outcome of the drilling campaign, thepreparation of a BFS, the entering into of a Funding Deed and certainother factors or information. Such statements represent Jervois’current views with respect to future events and are necessarily basedupon a number of assumptions and estimates that, while consideredreasonable by Jervois, are inherently subject to significant business,economic, competitive, political and social risks, contingencies anduncertainties. Many factors, both known and unknown, could causeresults, performance or achievements to be materially different fromthe results, performance or achievements that are or may be expressedor implied by such forward-looking statements. Jervois does notintend, and does not assume any obligation, to update theseforward-looking statements or information to reflect changes inassumptions or changes in circumstances or any other events affectionssuch statements and information other than as required by applicablelaws, rules and regulations.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.
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