TORONTO, CANADA, JULY 27, 2022 – Strategic Minerals Europe Corp. (NEO: SNTA, FRA: 26K0, OTCQB: STNAF) (“Strategic Minerals” or the “Company”), a company focused on the production, development and exploration of cassiterite concentrate, tantalite and columbite concentrate, announces production results for June and the second quarter of 2022 at its Penouta Mine located in the north-western Spanish province of Ourense.
In June 2022, Strategic Minerals increased its primary concentrate production to 72.2 tonnes, 8.3% higher than in May 2022, and 2.6 times the average monthly production in 2021. June production comprised 62.5 tonnes of cassiterite concentrate with 71.4% tin content, and 9.7 tonnes of tantalite/columbite concentrate with 22.6% tantalite and 24.8% columbite content.
On a quarterly basis, the Company increased its primary concentrate production to 181 tonnes in Q2 2022, 69% higher than Q2 2021. Production consisted of 153 tonnes of cassiterite concentrate with 71.2% tin content, and 28 tonnes of tantalite/columbite concentrate with 23.0% tantalite and 25.0% columbite content.
June and Q2 2022 Production
|April||May||June||Q2 2021||Q2 2022|
|Total concentrate (tonnes)||42.8||66.7||72.2||107.0||181.7|
* An error has been detected in the data of the press release published in June, in the number of tonnes of cassiterite and tantalite/columbite produced in April, the total tonnes of concentrate produced does not change, only the distribution between cassiterite concentrate and tantalite/columbite concentrate changes, which is corrected in this press release.
In Q2 2002, Strategic Minerals consolidated its transition to open pit mining, increasing production and the quality of its final products. Further improvements in the second quarter included the installation of eight shaking tables and a Falcon gravimetric concentrator to increase the gravimetric process capacity and recovery of metallic minerals.
“We are very pleased with the continuing improvement in quantity and quality at Penouta, which reflects our success at launching production from the open pit mine and the optimization of the new primary crushing plant at the facility,” said Jaime Perez Branger, CEO of Strategic Minerals. “I congratulate our team on the ground for achieving this growth while maintaining a commitment to health and safety. We are confident that we can maintain these levels of production and meet our guidance targets set at 75-90 tons of concentrate per month through the rest of 2022.”
About Strategic Minerals Europe Corp.
Strategic Minerals’ wholly-owned subsidiary, Strategic Minerals Spain, S.L. (“SMS”), produces, identifies, explores, and develops mineral resource properties critical to the green economy, predominantly in Spain. SMS holds permits and a license for the Penouta Project, which allows the Company to produce and conduct exploration, and an investigation permit at the Alberta II Project, allowing it to conduct exploration work already underway. SMS is the largest producer of cassiterite concentrate and tantalite in the European Union and has been recognized within the EU as an exemplary company of good practices in the circular economy. The Company is well- positioned as a major producer of sustainable and conflict-free tin, tantalum, and niobium and is exploring for lithium. Strategic Minerals is a “reporting issuer” under applicable securities legislation in the provinces of British Columbia, Alberta, and Ontario.
Additional information on Strategic Minerals can be found by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Note Regarding Forward-Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Strategic Minerals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risks Factors” in the Company’s Annual Information Form dated March 29, 2022, which is available for view on SEDAR at www.sedar.com. These risks include, but are not limited to, the risks associated with the mining and exploration industry, such as operational risks in development or capital expenditures, the uncertainty of projections relating to production, and any delays or changes in plans with respect to the exploitation of the site. Forward-looking statements contained herein, including but not limited to the Company’s anticipated exploitation of Section C of the Penouta Property and its use and development thereof, its use of the mineral processing capabilities, the ability to optimize and expand production, and its ability to increase the quality of the concentrate, are made as of the date of this press release and Strategic Minerals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Strategic Minerals’ operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.