Scandium International and Nevada Gold Mines Sign LOI to Pursue Critical Metals Recovery at Phoenix Mine

Jun 28, 2021

RENO, NV / ACCESSWIRE / June 28, 2021 / Scandium International Mining Corp. (TSX:SCY) ("Scandium International" or the "Company") and Nevada Gold Mines ("NGM"), have signed a Letter of Intent ("LOI") to initiate a joint technical and economic feasibility program at NGM's Phoenix Mine, near Battle Mountain, Nevada. The purpose of this joint development program is to confirm the economic and technical viability of a critical metals recovery ("CMR") project at the mine site. The LOI defines a detailed US$2.7 million spend program which includes bench test work, pilot plant testing, and feasibility study design work. The program is anticipated to require 15 months to complete. With program completion, the partners intend to take an investment decision on construction and operation of a plant facility to recover critical metals from mine solutions. The LOI also outlines key parameters of a partnership, including formation of a joint venture to hold the plant facility, and a 50:50 ownership in the recovery circuit asset.

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