Nord Precious Metals and Temiskaming Testing Laboratories primed for development of new silver products
Nord Precious Metals Mining Inc., (TSXV:NTH) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Nord" or "Nord Precious Metals"), in conjunction with TTL (Temiskaming Testing Laboratories), is strategically positioned to maximize the monetization of silver resources amidst the escalating demand fueled by advancements in solar panel technology.
As highlighted in recent articles by Bloomberg and insights from Mordor Intelligence, the solar energy market is undergoing rapid expansion, with the installed base expected to surge from 1.84 thousand gigawatts in 2024 to 5.08 thousand gigawatts by 2029, representing a compound annual growth rate (CAGR) of 28.82%. This growth trajectory is propelled by favorable government policies, declining solar panel prices, and increasing adoption of solar photovoltaic (PV) systems, particularly in the Asia-Pacific region.
Matthew Halliday, P.Geo., President of Nord Precious Metals, expressed, "These are exciting times for North America, as well as for our company in collaboration with TTL. With our existing equipment capable of producing silver dore, we anticipate minimal capital expenses for the production of precursors to silver paste. The cobalt-rich camp and surrounding regions boast an abundance of critical metals essential for green initiatives. We are committed to positioning North America not only as a primary source for mineral extraction but also as a hub for refining and manufacturing end products."
Gregor Gregersen, founder of Silver Bullion, emphasized, "Solar is a great example of how inelastic demand for silver is," underscoring the pivotal role of silver in the solar energy sector.
Nord Precious Metals, in collaboration with TTL, is actively exploring avenues to enhance the monetization of silver resources. Building upon its previous news release, Nord Precious Metals is investigating parts of the silver paste manufacturing stream to optimize silver extraction processes to produce valuable inputs for that industry and increase future monetization potential.
Despite the burgeoning demand, world silver supply has been constrained in recent years. Mine production slipped by 6.7 percent to 842 million ounces in 2023 from a peak of 899 million ounces in 2016 while at the same time world silver demand increased by 19 percent over the seven-year period to 1.17 billion ounces in 2023, according to statistics supplied by The Silver Institute in its World Silver Survey 2023 . Part of the problem in increasing supply is the rarity of primary silver mines and deposits that can be easily and quickly put into production, with about 80% of the metal coming from lead, zinc, copper and gold projects with silver as a by-product. According to a research paper published by solar experts at the University of New South Wales, solar manufacturers will likely require over 20% of the current annual silver supply by 2027, and by 2050, solar panel production will use approximately 85-98% of the current global silver reserves. ("The silver learning curve for photovoltaics and projected silver demand for net-zero emissions by 2050" published in Progress in Photovoltaics, Volume 31, Issue 6, June 2023)
Nord Precious Metals recognizes the significance of innovative approaches to maximize silver recovery, profitability and capitalize on emerging market opportunities.
As the global solar energy market continues to evolve, Nord Precious Metals remains committed to leveraging its expertise in silver and cobalt exploration to meet the growing demands of emerging industries.
Interested investors can access information about Nord Precious Metals at its website, NordPreciousMetals.com and its social media channels at X(Twitter), LinkedIn, Facebook, and YouTube for which links are available on the Company's website.
About Nord Precious Metals Mining Inc.
Nord Precious Metals Mining Inc. (formerly Canada Silver Cobalt Works Inc.) recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000 m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.
In May 2020, based on a small initial drill program, the Company published the region's first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves and do not have demonstrated economic viability. Please refer to the Nord Precious Metals (previously Canada Silver Cobalt Works) Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.
The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed a nearly 16,000-metre drill program on the Graal property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle's high-grade Macassa Mine near Kirkland Lake, Ontario where it is exploring. (3) St. Denis-Sangster lithium project - 260 square kilometers of greenfield exploration ground with numerous pegmatites focussed along a significant volcanic sedimentary rock - Archean granite contact near Cochrane, Ontario contiguous to Power Metals' Case Lake Lithium properties.
Nord Precious Metal's flagship silver-cobalt Castle mine and 78 sq. km Castle property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, a processing facility (TTL) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Nord Precious Metals is strategically positioned to become a Canadian leader in the silver-cobalt space. More information is available at www.nordpreciousmetals.com.
"Frank J. Basa"
Frank J. Basa, P. Eng. Ontario
Chief Executive Officer
For further information, contact:
Frank J. Basa
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.com
Caution Regarding Forward-Looking Statements
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. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.
