Strategic Resources Announces the Mustavaara Project was Selected for European Union Vanadium-Titanium Study
Strategic Resources Announces the Mustavaara Project was Selected for
European Union Vanadium-Titanium Study
MONTREAL
,
Feb. 1, 2024
/CNW/ -
Strategic Resources Inc.
(TSXV: SR) (the "Company" or "Strategic") announces that that the Mustavaara Project in
Finland
has been selected to be part of AVANTIS, a €5 million study on vanadium and titanium funded by the European Union ("EU"). The EU has recognized its weak
position in the vanadium and titanium supply chains. Currently there is no primary vanadium extraction in the EU and 100% of titanium metal and vanadium is
imported, with the majority coming from
China
and
Russia
. AVANTIS believes that based on known domestic resources, the EU can supply its growing needs for
vanadium and titanium going forward. The study will evaluate new extraction methods to produce two distinct pre-concentrates: (1) ilmenite-rich, titanium-pre-
concentrate and (2) ilmenite-free, vanadium-pre-concentrate. For more information, please visit the AVANTIS website
https://avantis-horizon.eu/
.
About the Mustavaara Project
Strategic completed a Preliminary Economic Assessment in 2021 on the previously operational Mustavaara mine and concentrator situated in
Finland
. The project
scope included a smelter and hydrometallurgical plant in Raahe, separate from the mine site and concentrator. The project development was based on 329,000
tonnes of annual pig iron and 4,577 tonnes of annual Ferrovanadium (80) production over a 20-year mine life.
About Strategic Resources
Strategic Resources Inc. (TSXV:SR) is a critical mineral exploration and development company focused on high-purity iron and vanadium projects in
Canada
and
Finland
. The Company is developing its flagship BlackRock Project, which is a fully permitted and ready to construct mine, concentrator and metallurgical facility
(includes a Pellet Plant and DRI Plant and Electric Furnace operation) located at a Port Saguenay, Québec with full access to the St. Lawrence Seaway. The
Company's Head Office is in
Montreal
, Québec.
Further details are available on the Company's website at
https://strategic-res.com/
. To follow future news releases, please sign up at
https://strategic-res.com/contact/
.
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STRATEGIC RESOURCES INC.
Signed:
"Sean Cleary"
Sean Cleary
,
CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
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SOURCE
Strategic Resources Inc.
View original content to download multimedia:
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%SEDAR: 00021914E
For further information:
email [email protected] or contact: Alexandre Meterissian, VP ESG & Communications, +1 (514) 316-7096; Scott Hicks, EVP
Corporate Development, +1 (604) 646-1890
CO: Strategic Resources Inc.
CNW 07:30e 01-FEB-24