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Montreal, Quebec — March 16, 2011 – Exploration Orbite (ORT.A) is pleased to announce that a recent geologist’s report, carried out in compliance with Canada’s National Instrument 43-101, clearly quantifies available resources to more than three times the previous estimates for the Marin sector of the Grande-Vallée Property.
The Marin sector represents one of three significant sectors of clay minerals with high alumina content that has been delineated on the site so far. It currently extends over four kilometres in length with a width varying from 500 to 1,000 meters, and contains an average grade of 23.13% of Al2O3 based on drilling samples from across the zone, with a cut-off grade of 18% stemming from 31 drill holes.
Now that the at-scale pilot plant has demonstrated the feasibility of extracting alumina from both claystone and mudstone, the positive effect on the resource is threefold: there is more raw material available to send to the plants, i.e. claystone and mudstone, the quantities can now be expressed in terms of Indicated Mineral Resources, and the extraction’s open pit can be enlarged and the floor can thus be lowered.
The Marin sector now has a volume of 400 to 500 million cubic meters which is equivalent to 1 billion metric tons of indicated resources, namely claystone and mudstone at a grade of 23.13 %. This compares to the quantity of 75 to 300 million metric tons reported in 2008 with a much smaller open pit.
“The latest finding is a crucial step in getting the alumina extraction plants up and running and we’re extremely pleased with the positive results. In fact, the recent technological, process economic and resources developments have attracted the attention of key players in the industry around the world who have been keen on establishing a dialogue with Orbite. This news thus further raises our optimism regarding the firm’s future and we are now intensively pursuing 2011 development work with the objective of bringing this project to the operating stage in the most efficient and timely manner.” said Orbite president and CEO Richard Boudreault.
More than 5000 meters of drill core since 2009 have validated the extensive quantity of aluminous claystone and mudstone in the Marin sector. These latest studies not only served to reinforce initial geological assessments, but helped to improve the resource’s geological model.
Geologist Jean-Guy Levaque B.A., B.Sc.A., P.Eng, qualified person under NI 43-101 and author of the technical report, explained that “one of the main characteristics of the deposit is an astonishingly high alumina homogeneity and is very similar to the findings of 2008, where the respective mean and standard deviation of alumina were 24.76% Al2O3 and 0.51 versus 24.74% Al2O3 and 0.73 in 2010”.
Tests on different clays performed at the pilot plant have consistently shown better than 95% recovery of the alumina with equal quality in the final product. The Company plans for further geological work, these would include testing and drilling in the aforementioned alternatives zones throughout the property in the coming months.
The deposit on the Grande-Vallée property is notable for easy access, its aluminous clay being located close to the surface under minimal overburden, and because the alumina distribution is homogenous both on surface and at depth. In preparing for the exploitation phase, the Company has added more claims around the site to the eastern and western sides of the property. The site now consists of 115 claims covering 6,441 hectares.
Orbite owns 100% of the mining rights on its 64 km2 Grande-Vallée property, the site of an aluminous clay deposit located 32 km northeast of Murdochville, and a 28,000 sq. ft. facility in Cap-Chat, both are located in the Gaspé region. The Company also owns the intellectual rights to a unique Canada and U.S.-patented process for extracting alumina from aluminous clays for which other international patents are also pending. The Company has cash assets of more than $14 million.
This press release has been reviewed and authorized by Mr. Jean-Guy Levaque, qualified independent geologist and qualified person according to NI 43-101.
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.
Jason Monaco, Managing Partner
First Canadian Capital Corp.
Louis Morin, Investor Relations
Frédéric Bérard, Vice president
HKDP Communications and Public Affairs
514-395-0375, ext. 259
Richard Boudreault, President and CEO
Exploration Orbite VSPA Inc.