EDM Resources Inc (TSX-V:EDM, OTC:SWNLF) has provided an update on its ongoing efforts to advance the Scotia Mine project located near Halifax in Nova Scotia, Canada, towards production.
It said it continues to evaluate the potential use of Dense Media Separation (DMS) technology at the Scotia Mine.
DMS equipment helps separate waste rock from mineralized rock, which can improve the grade of the processed material. Potential benefits include reduced processing costs, lower energy consumption, and less tailings production, the company highlighted.
A DMS study was commissioned in May to assess the feasibility of incorporating this technology. EDM engaged SGS Laboratories to conduct the study, using their DMS pilot plant to run ore samples from the Scotia Mine.
SGS has completed two trials using Scotia Mine ore samples: a high-grade sample and a blended batch sample, which represents typical ore zones. Results from the high-grade sample are expected next week, with results from the blended sample to follow.
"In addition to progressing key tasks required for production to start, we have completed ore sample separation trials using a Dense Media Separation ("DMS") pilot plant at a SGS Laboratory in Ontario,” EDM Resources CEO Mark Haywood said in a statement.
“DMS plants are increasingly being used by other base metal mines as a low capital and operating cost method of increasing feed head grades during mineral processing.”
Further, the company has received approval from the Nova Scotia Minister of Environment and Climate Change for a date extension on the Environmental Assessment Approval for the Southwest Expansion Project. Work is expected to begin on the Southwest Expansion Pit by September 2026.
The company is also progressing other environmental and regulatory applications, including surface and groundwater modeling for the Department of Fisheries and Oceans (DFO) and designing fish habitat offsetting work required under the Fisheries Act.
The scope of the fish habitat offsetting is still being finalized, with 12.5 hectares currently scoped and designed.
EDM has completed the mine plans for the DFO application, which include the Stage 1 pit development, which it considers economically viable under various metal prices and operating conditions.
Additionally, the company announced that Arnab Kumar De has taken over the role of EDM CFO from Kevin Farrell, who was serving as interim CFO.
De, a seasoned executive with over 20 years of experience in financial management, planning, business optimization, and strategy development, is the principal of Resurgent Montreal, where he offers CFO and financial advisory services to public and private companies, including those in the mineral exploration sector.
Investors welcomed the update, sending EDM's Toronto-listed shares 7% higher in the early afternoon on Monday.
- Updated with share price movement -