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Prophecy and Northwest Nonferrous Metals Mining Group Enter Technical Advisory and Cooperation Agreement to Advance Gibellini Vanadium Project


Prophecy and Northwest Nonferrous Metals Mining Group Enter Technical Advisory and Cooperation Agreement to Advance Gibellini Vanadium Project

Date: Mar 13, 2018

March 12, 2018 (Source) — Prophecy Development Corp. (“Prophecy” or the “Company”) (TSX:PCY, OTCQX:PRPCFFrankfurt:1P2N) is pleased to announce it has entered into a technical advisory and cooperation agreement with Northwest Nonferrous Metals Mining Group Co., Ltd. (“NWME”) to advance the Gibellini vanadium project located in the mining-friendly Battle Mountain region in northeastern Nevada, USA.

The scope of work for NWME includes technical design and engineering of vanadium ore processing facilities to recover vanadium pentoxide at Gibellini with the goal of producing a high grade vanadium pentoxide commercial product on site.

NWME owns and is currently operating the world’s largest black-shale vanadium mine in China with an environmentally friendly, hydrometallurgical leach processing technology without the need of a pre-roasting step.

NWME is an affiliated enterprise of Shaanxi Huayuan Mining Co., Ltd. which is one of the largest comprehensive geological and mineral resources research and development institutions in northwest China with over 5,000 employees.  NWME owns and operates over a dozen mines (lead-zinc, gold, vanadium) in China, and has extensive experience in vanadium exploration, mining, processing and recovery.

During a recent visit to NWME’s headquarters and mines in China, Prophecy was particularly impressed with their vanadium operation, which is generating positive cash-flow according to NWME.  NWME’s modern laboratory center represents the forefront of research in black-shale vanadium processing with comprehensive geological and metallurgical data collected from many dozens of private and government-owned black shale vanadium projects in China.

As part of the agreement, NWME reviewed the historic Gibellini feasibility study commissioned by the project’s previous operator, including metallurgical studies, prepared by SGS and McClelland labs of Denver, Colorado.

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