TORONTO, ON / ACCESSWIRE / November 6, 2024 / Clean Energy Transition Inc. (TSX-V:TRAN) ("transition.inc" or the "Company") is pleased to announce initial quartz production from the Snow White Project and that its President, CEO and Director Sean Samson will host a panel and later today deliver a Spotlight Presentation at the 6th Annual Mining Investment North America Conference.
Snow White Quartz Production
The Company has now produced and sold silica/quartz from its Ontario Snow White Quartz Project. Samples have been sent to the US and Canada, to customers whose businesses include the production of silicon and ferrosilicon alloys. These customers require test samples to run through their smelters, for performance verifiication and hopefully then, for negotiation of longterm supply contracts. "This is a big step for our quartz business, to coordinate and successfully execute on the steps for production, managaing the contractors for: blasting, quarrying, hauling, processing, railcar and rail transportation. As I explained in our June Corporate Update, this was our our goal, to produce quartz in 2024", said Sean Samson.
Snow White is located in northern Ontario, 500km north-northwest of Toronto, 105km west of of Sudbury. It is just over 40km by road from the town of Massey- 25km on highway and 15km on a logging road. This summer the Company upgraded the logging road for the haul trucks to truck the material out. The property comprises ten claim units within three staked unpatented mining claims totaling approximately 160 hectares. Snow White is permitted for unlimited annual quartz production.
The Company drilled Snow White and M.Plan International completed a NI 43-101 Technical Report, which classified a Mineral Resource with 486,000 Indicated tonnes and 271,000 Inferred tonnes of quartz in the Snow White Main Zone. Subsequent to the Resource, the Company has identified continued quartz, along a 1km trend, and surface-sampled from the Mirror and Pure White Zones.
Snow White's quartz has very low impurities and the Company believes, it is an excellent feedstock for silicon metal smelters, specifically to create a product to be used for solar / photovoltaic modules- a growing business for the energy transition. The tonnes of the Snow White Main Zone alone could potentially produce more than 69 gigawatts of solar panels, that is ~10x the current installed solar generation on Canada's power grids**.
"If our quartz performs well in the smelters, Snow White could become a very large part of the push to grow solar power generation and contribute to the energy transition," added Mr Samson.
* Company estimates: ~2.5 tonnes of low-impurity quartz produces 1 tonne of silicon metal. 1 tonne of silicon metal produces 0.8 tonnes of polysilicon. ~3.5g of polysilicon is used per watt, or 3.5 tonnes per megawatt. Therefore, ~10.94 tonnes of low-impurity quartz is required for 1 megawatt of solar power.
** Natural Resources Canada estimates Canada's installed solar capacity to be 6,452 megawatts or, ~6.5 gigawatts.
Investor Conference Presentation
Later today in Toronto, Sean Samson will speak at the 6th Annual Mining Investment North America Conference. This conference is billed by the organizers as North America's top resources hub for mining investment, critical minerals, hydrogen, technology opportunities and clean energy. There is no livestream but the presentation material has been posted to the Company's website. Mr Samson has been asked to present on "How Criical Minerals Influence the Energy Transition" but will also be highlighting today's Snow White Quartz Project news.
About Clean Energy Transition Inc.
Transition.inc is focused on opportunities to generate positive cash flow across the energy transition. The Company includes a Quartz division, focused on advancing its silica/Quartz business with the Snow White Project in Ontario and the Silicon Ridge Project in Québec. The silica in high-quality Quartz can be used to make silicon metal, a key component in solar energy panels. In addition to Quartz, transition.inc is looking for low-carbon production opportunities in critical minerals and additional opportunities developing with the rapid change underway.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking information. Such forward-looking statements or information are provided to inform the Shareholders and potential investors about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "anticipate", "proposed", "estimates", "would", "expects", "intends", "plans", "may", "will", and similar expressions.
More particularly and without limitation, the forward‐looking statements in this news release include (i) expectations regarding approvals by the TSXV and Shareholders; (ii) expectations regarding the timing and receipt thereof; and (iii) expectations concerning the Company's business plans and operations. Forward-looking statements or information are based on a number of factors and assumptions that have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. There can be no assurance that any long term contracts will be entered into as a result of the initial quartz production and as a result there may not be commercial production of further sales from the quartz business. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or expressly qualified by this cautionary statement.
Contact Information
For further information, visit www.transition.inc
Or contact: Sean Samson, President, CEO, and Director at:
Clean Energy Transition Inc.
200 - 150 King St. W.
Toronto, ON M5H 1J9
info@transition.inc
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 of this release.
SOURCE: Clean Energy Transition Inc.
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