-additional funding will allow Cegep Riviere-de-Loup to continue work using high-purity phosphate in a new breed of fertilizer
DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTCQX (USA)
SAGUENAY, QC, Oct. 24, 2023 /CNW/ – Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: DAN; OTCQX: DRRSF; FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec’s Saguenay-Lac-Saint-Jean region, is pleased to announce that its joint research project with the CEGEP of Riviere-de-Loup’s Environmental and Biotechnology Group (“GREB”) has received a grant of $727, 500 over three years from the Natural Sciences and Engineering Research Council of Canada (“NSERC”), the major Canadian federal agency for funding natural sciences and engineering research in Canada.
The grant has been provided after a successful first round of work aimed at producing a new breed of fertilizers through a process, developed by the GREB, of combining Arianne’s high-purity phosphate concentrate with organic waste (see Press Release dated February 8, 2022). Today, most fertilizers (MAP & DAP) are produced by taking mined phosphate concentrate and combining it with sulphuric acid and other ingredients. The work being done by GREB would alter the traditional process of making fertilizer, removing the requirement of acid, and allow for the use of organic wastes that otherwise often wind up in landfills.
“We are all very excited by the early success of this work,” said Raphael Gaudreault, COO of Arianne Phosphate. “The potential of this work could be transformative, allowing the industry to move away from acid-based fertilizers towards a more circular and environmentally friendly way of production.”
Arianne’s Lac à Paul deposit is igneous in nature, and thus, quite rare. Due to its geological structure, Arianne can produce a very high-purity, low-contaminant phosphate concentrate that allows it to be used in innovative and technically advanced products, thus separating the Company from most of the other phosphate projects currently in place.
“Whether for use in innovative fertilizers, or for its proven ability to work as a key ingredient in the growing LFP battery industry, Arianne can be an industry leader in the ‘greening’ of the world’s economy,” added Arianne’s President, Brian Ostroff.
ERRATUM – The Company indicates that an error was made in the English press release dated August 17, 2023. The expiration date of the stock options granted to Jeffrey Beck is August 17, 2033.
About Arianne Phosphate:
Arianne Phosphate (“Arianne Phosphate Inc.”) (www.arianne-inc.com) is developing the Lac à Paul phosphate deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high-quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants (Feasibility Study released in 2013). The Company has 196,809,271 shares outstanding.
Qualified Person
Raphael Gaudreault, eng., Qualified Person by NI 43-101, has approved this release. Mr. Gaudreault is also the Company’s Chief Operating Officer.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Cautionary Statements Regarding Forward Looking Information
This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities regulations in Canada and the United States (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, anticipated quality and production of the apatite concentrate at the Lac à Paul project. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects, “is expected”, “budget”, “scheduled”, “estimates”, forecasts”, “intends”, “anticipates”, or “believes”, or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, or “will” be taken, occur or be achieved. Forward-looking information is subject to be known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: volatile stock price; risks related to changes in commodity prices; sources and cost of power facilities; the estimation of initial and sustaining capital requirements; the estimation of labour and operating costs; the general global markets and economic conditions; the risk associated with exploration, development and operations of mineral deposits; the estimation of mineral reserves and resources; the risks associated with uninsurable risks arising during the course of exploration, development and production; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support mining, processing, development and exploration activities; the risks associated with changes in the mining regulatory regime governing the Company; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at Lac à Paul project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issue of common shares; the risk of litigation. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in commodity prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approval, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
SOURCE Arianne Phosphate Inc.