NEWS
Demir Engineering Partners with PRISM Diversified
Demir Engineering is excited to announce its strategic partnership with PRISM Diversified to support the Alberta Clear Hills Polymetallic Project. This collaboration aims to advance the development of a demo plant and future full scale multi-metallic processing plant for low-emission steelmaking in Alberta as well the recovery of critical minerals, including vanadium.
At Demir Engineering, we are bringing our expertise in engineering design, metallurgical testing, and process development to help make this project technically and economically feasible at an industrial scale. Our role is to provide engineering solutions to transform innovative concepts into a scalable proprietary process and operational plant.
Since becoming involved in the project we have gained confidence in this novel process which has led us to invest in further developing the resource. This marks a significant step toward building a sustainable and efficient steel industry while securing strategic critical minerals essential for the future. We look forward to working closely with PRISM Diversified to move this project forward and contribute to Ultralow-carbon steel production. Stay tuned for more updates as we progress toward the demo plant phase.
www.demirengineering.com
PRISM and TCM Research are excited to announce successful liberation of Iron and Vanadium from its Clear Hills polymetallic ore
PRISM is pleased to announce successful results by TCM-Research, a metallurgical process engineering partner, of the extraction of Iron and Vanadium from its Clear Hills polymetallic ore.
Initial test results demonstrate 99.1% Iron extraction (at 96% purity) and 96.% Vanadium extraction.
PRISM’s Clear Hills project has effectively been stalled since 2016 due primarily to an inability to successfully liberate metal from its unique “oolitic” ore deposit. Previous failed attempts had focused upon physical grinding with roasting and grain enlargement - all of which proved incapable of separating the iron and vanadium metals from the complex microscopic “goethite” mineralized structure.
TCM-Research’s innovative and patented reductive chlorination process therefore provides a long-awaited boost for this world-class resource.
A key advantage of TCM-Research’s process is its potential to generate green methods to produce a Direct Reduced Iron (DRI) substitute product for the steel industry. As highlighted by TCM-Research’s Dr Dmitri Terekhov, inventor of the process - “the adoption of hydrogen within the reduction process provides a tangible pathway to low emission steel manufacturing”. PRISM is excited that a combination of Alberta-produced hydrogen and PRISM’s iron metal powders could generate considerable economic benefit to the region and province.
With regards to its Vanadium resource, the enormous volume of iron demanded by a steel plant would result in over 15,000 tons of Vanadium being produced annually. Vanadium is a critical metal for flow batteries that can address the long duration energy storage (LDES) market. Safe, predictable and domestic supply at this scale (~15% of current global supply) would greatly assist in developing a cost-effective solution to the burgeoning Energy Stationary Storage (ESS) market.
There are other minerals and metals within the polymetallic ore, and we will provide updates as to the market potential for these additional “credit minerals”.
PRISM will now look to raise capital so as to validate the test findings and scale towards a field pilot plant.
Prism to Sell Lithium Licenses for a Royalty & Cash Payment
Prism is pleased to announce that it completed a transaction to sell the Clear Hills Lithium licenses in return for a Net Profits Interest (NPI) Royalty of 5%. In light of the current dilutive investment climate and the need for considerable ongoing capital funding Prism’s Board feels this deal presents the best opportunity for long term shareholder return. Prism will also receive a $40,000 cash payment which will be spent on the much-awaited reductive chlorination testing on Prism’s polymetallic ore. All existing Prism shareholders will receive shares in a new stand-alone royalty company, Prism (CHP) Royalty Corp, with future royalties being distributed according to shareholding percentage.
Although not the original deal announced in Nov 2023 this deal maintains the key goal of conversion of debt thus improving Prism Diversified’s balance sheet - providing the main polymetallic division with its best opportunity to move forward.
All existing Prism Diversified Ltd (previously Ironstone Resources Ltd.) shareholders are requested to email john@prismdiversified.com with updated contact information (mailing address, physical address, email address, telephone contact number) in order that the new shares in Prism (CHP) Royalty Corp. may be issued.
Lincoln Ventures Ltd. Announces Update on Acquisition of PRISM’s Lithium Assets
PRISM is pleased that the deal with Lincoln Ventures Ltd is progressing as originally announced in Nov 2023. Please refer to the news release at:
PRISM Announces Proposed Sale of Lithium Assets to Lincoln Ventures
PRISM is pleased to announce that ongoing negotiations has resulted in a binding Letter of Intent with Lincoln Ventures Inc. (“LV”), a Vancouver-based company listed on the TSX.V. The news release can be found at this site…News Release 30th Nov 2024.
PRISM’s co-founder and Chairman, Carl Berdahl states that “this agreement [Letter of Intent to sell Lithium assets to Lincoln Ventures] is a great strategic move for PRISM. It will provide our shareholders with equity in a listed company with great growth potential and will also serve to improve PRISM’s investment opportunity for its stalled polymetallic assets. With the focus upon Critical Minerals, notably the federal government’s recently announced CMIF, our 550 million ton ore body containing Vanadium, Cobalt and high purity iron powders offers great potential.”
PRISM requests that shareholders reach out to its CEO, John Merritt (john@prismdiversified.com) with their contact details so they can receive updates in the coming months.
PRISM Increases its Mineral Tenure Holdings
PRISM successfully acquired 5,440 hectares of additional mineral permits proximal to its Worsley project area in November 2021. The permits are prospective for poly-metallics and potentially for lithium-bearing formation brines.