Gratomic Inc. (TSX-V:GRAT, OTCQX:CBULF) told investors that its technical team has initiated preliminary engineering for its 100%-owned Capim Grosso project in Brazil’s Bahia State.
Revealing its preliminary process flow diagram for the project, the company said the engineering will include completing a mass and water balance process flow diagram (PFD), and process design criteria (PDC). This engineering design will facilitate the development of preliminary operating and capital expenses for the project, it added.
"Our technical team is moving at a very quick pace to fast track the engineering process of our Capim Grosso project, without overlooking quality and technical criteria,” Gratomic chief operating officer and head of graphite marketing and sales Armando Farhate said in a statement.
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As it proceeds with its current 5,000-meter drilling program, Gratomic said it will continue to conduct new tests with the drill core samples, to optimize engineering design for the flotation circuit and factor in the requirements to process the material at depth.
"We are very proud to be true to our vision of agility, out-of-the-box thinking, and return to shareholders and stakeholders,” president and CEO Arno Brand added. “The speed we have been moving in the Capim Grosso project is good evidence of that.”
The company emphasized that it is undertaking an initial exploration drilling program at Capim Grosso along with preliminary metallurgical testing and that no preliminary economic analysis, preliminary feasibility study or feasibility study has been completed to support any level of production.
Additionally, it said no mineral resources, or mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Capim Grosso property.
As part of its business plan, Gratomic said it expects to obtain a National Instrument 43-101 Standards of Disclosure for Mineral Projects technical report to help it ascertain the economics of the Capim Grosso project.
Gratomic is a multinational company with projects in Namibia, Brazil, and Canada. It is focused on becoming a leading global graphite supplier and aims to secure a strong position in the EV battery supply chain. With the continued development of its flagship Aukam project and further exploration of the company's Capim Grosso property, Gratomic sets itself apart by seeking out unique top-quality assets around the world.
Contact the author at stephen.gunnion@proactiveinvestors.com