MONTREAL, QUEBEC--(Marketwired - Sept. 28, 2017) - HPQ Silicon Resources Inc ("HPQ") (TSX VENTURE:HPQ)(FRANKFURT:UGE)(OTC PINK:URAGF) is pleased to advise shareholders the company will commence a 2,000 metres diamond drill program during Q4 2017 to delineate a quartz (SiO2) resource on our Roncevaux Quartz property located in Matapedia in the Gaspe region of Quebec. 2014 quartz sampling and analysis work done by the company revealed that quartz from the property is of exceptional purity, suitable for high purity quartz applications and as raw feed for the production of silicon metal. The corrected silicon dioxide average for the 20 samples assayed was 99.65%, ranging from 99.37% to 99.86% SiO2 (December 16, 2014 PR).
Since Sept 2016, Pyrogenesis has been using the Gen 1 PUREVAPtm to transform Roncevaux SiO2 (Quartz) into 3N+ Purity Silicon Metal (99.97% Si) (September 19, 2017 PR, May 16, 2017 PR, January 26, 2017 PR, November 29, 2016 PR, November 2, 2016 PR and September 29, 2016 PR). The material produced using our Roncevaux SiO2 (Quartz) with the PUREVAPtm exceeds the highest purity level of the Metallurgical Grade Silicon Metal (Mg Si) industry, a US$5.5 billion dollar per year industry(1).
Patrick Levasseur, President and COO of HPQ Silicon stated, "Delineating a quartz resource that can be used as the feed for our PUREVAPtm Quartz Reduction Reactors is a crucial first step towards a PEA (Preliminary Economic Assessment). Having our own quartz deposit would fulfill our plans to make HPQ a vertically integrated solar grade silicon metal company." Mr. Levasseur also stated, "In addition to the quartz, we will also be testing the gold potential of the property, as documented in past exploration."
DRILL PROGRAM DETAILS AND OBJECTIVES
The Diamond Drill Program will commence with a minimum of 2,000 metres of drilling in 32 holes along the 400 metres of the known surface strike of the quartz vein. The objective will be to delineate a quartz resource of at least 650,000 tons to a depth of 50 meters. Chemical analyzes and characterization tests will be completed on drilled cores. The Company has applied for the permits required to cut trees and build an access lanes for the drill rig.
Furthermore, two 50-ton bulk samples of quartz will be excavated and stockpiled on the property. This material will be used as additional raw feed for metallurgical testing using HPQ Gen 2 PUREVAPtm a 1/250 scale model of our planned Gen 3 PUREVAPtm, a 200 tonnes per annum (tpa) Pilot Plant under fabrication (September 19, 2017 PR).
ABOUT THE RONCEVAUX QUARTZ PROPERTY
During 2014, sampling and analysis done by the company revealed the Roncevaux quartz is of exceptional purity suitable for both high purity quartz applications and as raw feed for the production of silicon metal. The corrected silicon dioxide average for the 20 samples assayed is 99.65 %, ranging from 99.37 % to 99.86 % (December 16, 2014 PR).
In March 2015, HPQ received third party validation of the potential of the material when a major Silicon Metal Producer expressed an interest in the High Purity Lump Quartz material from the Roncevaux property, after our material successfully passed their rigorous testing protocols (March 2, 2015 PR).
RONCEVAUX GOLD EXPLORATION
In addition to delineating the quartz vein, the Company intends to undertake a gold prospecting campaign on the property that will include sampling of mineralized outcrops and geochemical soil surveys. The Roncevaux project area was initially prospected for its gold potential. In 1992, prospector M. Beaulieu found and sampled a white quartz vein on the southern part of the property that had a thickness of about 3.60m outcropping along a small feeder stream to the nearby Roland Creek. This occurrence showed significant anomalous gold values from outcrops of up to 1,51g/t Au. Core samples from 4 short holes drilled in the structure returned gold assays of 8,26 g/t Au, 0,58 g/t Au, 0,49 g/t Au and 0,34 g/t Au from unspecified core length. (GM 57622 Beaulieu 1992)
Mr. Benoit Violette, P. Geo is the Qualified Person as defined by National Instrument 43-101 that supervised the preparation of the information in this news release.
This Press Release Is Available On The Company's CEO Verified Discussion Forum, A Moderated Social Media Platform That Enables Civilized Discussion and Q&A Between Management and Shareholders.
About HPQ Silicon
HPQ Silicon Resources Inc is a TSX-V listed resource company planning to become a vertically integrated and diversified Metallurgical Grade and Solar Grade Silicon Metal producer.
Our business model is focused on developing a disruptive one step High Purity and Solar Grade Silicon Metal manufacturing process (patent pending). HPQ plans to generate high yield returns and significant free cash flow within a relatively short time line. The process will have a greatly decreased carbon footprint, energy footprint, and will eliminate the use of the toxic chemical reagents and by products now in use by the current solar silicon production technologies, which fundamentally date from designs made in the mid 1900's.
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "in the process" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
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.
Shares outstanding: 170,003,173
(1) Source CRU, 2018 MG Si demand projected at 2,5 M tonnes, 2018 prices
US$2,200 per tonne (Ferroglobe)
HPQ Silicon Resources Inc.
Bernard J. Tourillon
Chairman and CEO
HPQ Silicon Resources Inc.
President and COO