Element Global, Inc.'s ( ELGL ) Subsidiary Clarinova to Start Mining Feasibility Study
LOS ANGELES, Aug. 15, 2019 (GLOBE NEWSWIRE) -- Clarinova Limited, a wholly-owned subsidiary of Element Global, Inc. (ELGL: OTCMARKETS), announces beginning to undertake a NI 43-101 geological feasibility survey of its audited mining tailing assets.
The plan calls for Clarinova Limited to utilize the resources of Element Global Mining Enterprises, Inc., the wholly-owned mining subsidiary of Element Global, Inc. to undertake the technical survey and testing starting this September 2019.
"NI 43-101 Standards" is a Canadian National Instrument for the "Standards of Disclosures for Mineral Projects." The reports defined the mineral resources and mineral reserves on mining projects and properties. Each of these terms is divided into subcategories based on the quality and amount of work done to verify the amounts of minerals available and the economic viability of extracting them. A mineral resource is defined as a concentration or occurrence of minerals in such form and quantity and of such grade or quality that is has reasonable prospects for economic extraction. The three different types of mineral resources are metallic, nonmetallic and fossil fuels.
Merle Ferguson, Chairman, states, "Getting our project to a 43-101 standard provides the Company with a bankable feasibility of the economic values of the mineral tailings held in Clarinova Ltd."
Even though ELGL is a US entity which trades in the US, it is producing a bankable feasibility study to the qualification and quantification of the internationally recognized Canadian NI 43-101 standards, which remains an essential validation of the content and values of both precious and base metals in the mineralized tailings. Moreover, if the Company should decide to dual-list its equity on a Canadian stock exchange or perhaps the London Stock Exchange, the feasibility would facilitate such a listing.
For further information about this release, you can contact Investor Relations at YES INTERNATIONAL, 757-306-6090, email@example.com, www.yesinternational.com and www.elementglobal.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Source: ELEMENT GLOBAL, INC.