Scandium Canada Ltd. provides an update on its activities
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Scandium Canada Ltd. provides an update on its activities
MONTREAL, QUEBEC - October 21, 2024 - Scandium Canada Ltd. (the “Company” or “Scandium Canada”)
(TSX VENTURE: SCD; OTCQB: SCDCF) is pleased to inform its shareholders and the various stakeholders
interested in its work, of its recent developments and business forecasts for the current quarter.
Crater Lake Property
During the summer of 2024, the Company undertook and completed a 2 -part drilling program on Scandium
Canada's flagship Crater Lake property. One of the objectives was to confirm the potential extension of the TG
Zone over an additional 250 m. Mineralizatio n was identified in the 7 holes drilled, totalling 1,185 m. A total of
954 samples were sent for analysis. Assay results should be available before the end of December. Following a
compilation of all assays, a resource update will be prepared by an independent firm. This update is expected to
be available in January 2025.
Another objective was to determine the optimum slope angles for the open pit design to be proposed for the pre-
feasibility study. To achieve this, a total of 1,669 m divided into 6 holes were drilled in the northern lobe of the
TG Zone, from which samples have been sent for analysis to the Queen's University laboratory in Kingston,
Ontario.
The Company is currently evaluating various alternatives for the location of its hydrometallurgical plant for the
conversion of scandium (Sc) concentrate into scandium oxide (Sc2O3). Various sites have been visited in
Wabush, Labrador City and Fermont areas over the past few days. Management will continue its efforts to identify
and secure an ideal site for this major plant, so that it can be incorporated into the pre-feasibility study required
to advance the project to the next stage.
Work on optimizing the ore concentration process flow sheet and the process flow sheet for hydrometallurgical
production of scandium oxide is underway at SGS Canada's Lakefield, Ontario laboratory, using a 500kg sample.
The ore concentration steps have been validated. The hydrometallurgical process to transform the concentrate
into scandium oxide is now our focus, and full testing is scheduled for completion in January 2025, with a final
report due in March 2025. Certain steps in the flow sheet are subject to patent applications to protect the
Company's intellectual property.
Guy Bourassa, Chief Executive Officer, added: “We are quite satisfied with the results of our summer 2024
fieldwork, which will increase the potential and value of the company. In order to increase its full development
potential, it is absolutely necessary to broaden our shareholder base and interest more investors around the
world in the immen se potential represented by the largest primary source of scandium currently under
development worldwide. What I would like to confirm to our shareholders is that management is dedicated to the
task and is working hard every day to ensure that the stock market valuation reflects the quality of the assets we
hold.”
Adding value to the Company
Management is active in promoting the company and its flagship Crater Lake project through participation in a
variety of information activities, including one-on-one meetings, group presentations (7 activities in September-
October) and interviews with various trade media (Mining.com.au and investor intel).
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Aware of the sluggish markets and the importance of broadening the shareholder base, the CEO is currently
taking part in a tour of Asia (Hong Kong and Singapore), culminating in an appearance at IMARC2024 in Sydney,
Australia at the end of October (imarcglobal.com). During this tour, the CEO plans to meet with various potential
scandium users interested in the development of the Crater Lake project, as well as visionary investors who
believe in the development of the Al-Sc alloys market.
Markets development
In parallel with its development work on the Crater Lake project, the Company undertook development work on
aluminum scandium alloys to interest potential users in joining the Crater Lake project development. This
resulted in the development of 2 specific alloys, leading to the filing of a patent application for alloys A535 and
AA7075, modified with scandium among other elements, to enable 3D printing. Following the filing of this patent
application, the Company began to approach potential users wishing to independently test the properties of parts
to be manufactured by 3D printing.
The Company is also working on the development of an Al-Sc alloy suitable for extrusion, targeting new, specific
uses for aluminum profiles. The Company is analyzing various alternatives with a view to enhancing the value
of its intellectual property portfolio. Developments in this direction are scheduled for the current quarter.
Financing required to support the Company's activities
The Company is pursuing and analyzing various alternatives for financial assistance to support its work. As part
of the list of critical minerals and strategies, additional sources may be available through various funding
programs strategically supported by countries, such as Canada, the United States, Australia and the European
Union, wishing to establish and secure their own supply chains. Our team is continuing its efforts to identify and
submit applications for financial assistance to ensure the development of the Crater Lake project.
ABOUT SCANDIUM CANADA
Scandium Canada is a Canadian technology metals company focused on the Al-Sc (2%) master alloy, scandium oxide and
aluminum-scandium alloy development markets, thanks to its Crater Lake scandium and rare earth project in Quebec.
For additional information, please contact :
Scandium Canada Ltée
Guy Bourassa
Chief Executive Officer
Phone: +1 (418) 580-2320
Email: [email protected]
Website: www.scandium-canada.com
LinkedIn: Scandium Canada Ltd.
Twitter: @ScandiumCanada
Facebook: Scandium Canada
Instagram: @scandiumcanada
Neither 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.