Vertical Exploration and Venturevest Realty Partners LLC have signed a non- binding Letter of Intent (LOI) to enter into discussions regarding a secured Note Facility up to a maximum amount of $20 million CAD to support the multi-phased development of the St-Onge Wollastonite Deposit.
A staged credit facility allowing Vertical to move forward with four distinct phases of St-Onge development, first establishing the initial quarry style permitting and production phase through to the mining and final processing plant stage.
What is Wollastonite?
- Wollastonite is a chemically simple mineral named in honor of English mineralogist and chemist Sir W.H. Wollaston (1766–1828). It is composed of calcium (Ca) and silicon and oxygen (SiO2, silica) with the chemical formula CaSiO3. Although much wollastonite is relatively pure CaSiO3, it can contain some iron, magnesium, manganese, aluminum, potassium, sodium, or strontium substituting for calcium in the mineral structure. Pure wollastonite is bright white; the type and amount of impurities can produce gray, cream, brown, pale-green, or red colors.
Wollastonite’s Many Uses
Cannabis Research:
- Wollastonite has already many well-known benefits in agriculture
- Testing in a controlled way for the use in the cannabis industry.
- Possibly the first in the industry to do trials.
- Engaged AGRINOVA for Wollastonite Research and Development
- Entered into a Distribution Agreement with AREV Brands, where Vertical will supply its St-Onge wollastonite to AREV for direct distribution to both small-scale craft growing operations and potentially larger-scale Health Canada approved companies directly involved in growing and processing cannabis and hemp.
- Testing of Vertical’s St-Onge wollastonite on a range of important agricultural end uses will also be conducted
- Became a member of the International Fertilizer Industry Association (IFA), as part of its ongoing efforts to promote and strategically market it’s world-class St-Onge wollastonite to a range of potential end-users.
Major Demand in Ceramics Industry:
- Combination of high brightness and low gas release of Wollastonite when heated creates demand
- Brilliant whiteness of importance to coatings and filler markets
Wollasatonite applications are endless
- An industrial mineral comprised chemically of calcium, silicon and oxygen. Its molecular formula is CaSiO3 and its theoretical composition consists of 48.28% CaO and 51.72% SiO2.
St. Onge Wollastonite Deposit 2019
- Twenty-three (23) drill holes totaling 1,784.0 metres were completed
- Twenty (20) drill holes intersected high-grade wollastonite zones, confirming excellent continuity and correlation with the thickly mineralized zones intersected by previously reported historical drill holes.
- Sixteen (16) drill holes intersected high-grade wollastonite zones right up until the end of the hole, which are all open at depth.
- A total of 1,107.5 meters of high-grade wollastonite mineralized core length was intersected, representing approximately 62% of all drilled core length.
Tags: #Additive, #AGRINOVA, #Deposit, #Disruptive, #exploration, #KootenayCup, #Research, #Soil, #VERT, #Wollastonite, Cannabis, Marijuana