QualityStocks would like to highlight White Mountain Titanium Corporation (OTCBB: WMTM). The company holds Chile mining concessions, on the Cerro Blanco property currently consisting of 33 registered mining exploitation concessions and five mining exploration concessions in the process of being constituted, over approximately 8,225 hectares located approximately 39 kilometres west of the City of Vallenar in the Atacama, or Region III, geographic region of northern Chile. The company’s principal objectives are to advance the Cerro Blanco project towards a final engineering feasibility, and to secure off-take contracts for the planned rutile concentrate output. It would be the intention to sell the rutile concentrate to titanium metal and pigment producers. Work also continues to investigate the commercial viability of producing a feldspar co-product. The feldspar could find applications in the glass and ceramics industries.
In the company’s news yesterday,
White Mountain Titanium Corp. announced it has applied for an access license to draw sea water for a planned desalination plant, which will provide industrial and potable water to the Cerro Blanco project, and possibly to other users in the region.
The company currently is conducting process and design engineering work for the planned desalination plant, which will be incorporated into the final project engineering design and Environmental Impact Statement (EIS) for submission to the Chilean mining authorities.
White Mountain said it has completed a ground geophysics study to assist exploration personnel to site and orient drill holes planned for the upcoming Las Carolinas and La Cantera drill program; to identify new exploration targets; and to assist engineering personnel as they work to locate the crusher, process plant, waste dumps, tailings facility, and site infrastructure away from mineralized areas.
The company has established a “footprint” for final engineering design purposes and identified two new exploration target areas. In addition, White Mountain said it has received all necessary permits to undertake the drilling program.
White Mountain concluded with assurance that it continues to monitor company-funded research being undertaken on the Chinuka Process at the University of Cambridge, and noted optimistic titanium market outlook.
“The company continues to advance the Cerro Blanco project to a final feasibility study stage and, at the same time, advance research on the Chinuka Process. All of this is taking place at a time when the market and outlook for titanium feedstock prices remains buoyant,” Brian Flower, White Mountain’s executive chairman stated in the press release.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
