EDMONTON, ALBERTA--(Marketwired - July 7, 2016) - Iberian Minerals Ltd. (the ''Company'' or "Iberian") (TSX VENTURE:IML) (OTCQB:SLDRF) announced today that its 100% wholly owned subsidiary, Mineworx has filed for patents on its proprietary HM X-Mill grinding technologies.
The HM X-Mill is an energy-efficient mineral grinding mill developed by Mineworx Technologies Inc., a wholly owned subsidiary of Iberian Minerals Ltd.
The patent pending HM X-Mill is a transformation in grinding technologies and is based on Mineworx's proprietary, high velocity, horizontal rotary milling design. It is designed for the fine grinding of ores and regrinding of concentrates and tailings. It is designed to produce a consistent particle size with 100% of the ground material passing 100 mesh (150 μm).
The HM X-Mill significantly reduces the operational footprint, energy consumption, operational costs and capital costs of fine grinding. The HM X-Mill is designed to be energy efficient and portable allowing for low cost operation in remote installations with minimal infrastructure required.
While most grinding in the mineral industry is achieved using devices containing a steel grinding medium. The use of steel grinding media can cause issues in the subsequent gravity and flotation processes. The HM X-Mill uses no grinding media which reduces operational costs and avoids contamination-related performance issues.
The HM X-Mill utilizes a dry grinding environment whereby the ground product is air separated by cyclones and specialized screening medium prior to discharge into a proprietary automated slurry system. This provides a consistent particle/grain size and programmable slurry density for downstream processes.
The advantages of the HM X-Mill include:
- lower capital costs - the small size and unique design of the HM X-Mill reduces its construction and installation costs relative to conventional mills. It is container based, eliminating the need for costly foundations and support infrastructure,
- lower operating costs - the energy efficiency of the HM X-Mill's low horsepower requirement give it a low operating cost for its grinding duty.
- energy efficiency - the grinding method used in the HMX-Mill is more energy efficient than conventional ball mills, rod mills or high pressure grinding rolls,
- portability and ease of installation - the HM X-Mill is container based and portable in nature allowing access to remote installations and fast on-site set up. This is a key consideration for short term installations for the processing of smaller deposits or stockpiled ores.
- ease of maintenance - the design of the HM X-Mill makes all parts easy to access for ease of maintenance. High-wear parts are easily replaced. A team of two people can complete a rotor wear plate change within 4 hours,
- turn-key installation - The HM X-Mill is designed to be a component of the complete, modular turn-key portable milling circuit under design by Mineworx. This circuit includes, crushing, grinding, sizing, gravity separation, flotation, concentration, clarification, water recycling, power generation and operational service and support modules.
Mineworx is an innovative heavy mineral development and processing company focused on increasing value within the mining sector with its patent pending HM X-tract environmentally friendly, portable, heavy mineral extraction technologies. Mineworx's unique business model is to seek out advanced stage mineral deposits on which to employ its portable processing technologies and partner with the existing owners/operators by advancing these deposits in an accelerated manner attaining profitable production in a timely, cost effective and environmentally friendly manner. The unique, integrated and portable processes and technologies lower economic risk and reduce environmental impact.
About Iberian Minerals
Iberian Minerals is a Canadian junior mining company positioned for growth through the partnership of advanced cash flow mining opportunities utilizing the Mineworx environmentally friendly heavy mineral extraction processing technologies. In addition the Company is also pursuing its interest of accumulating high interest assets throughout the mineral rich Iberian Peninsula. For further information, go to www.iberianminerals.ca
Neither the 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.
This press release contains certain statements which constitute forward-looking statements or information ("forward-looking statements"), including statements regarding Iberian's business and the Acquisition. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Iberian's and Mineworx's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Iberian believes that the expectations in the forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Iberian does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.