-physical samples of the purified phosphoric acid have also been received
SAGUENAY, QUEBEC – (March 6, 2023) – Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: DAN; OTCQX: DRRSF; FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec’s Saguenay-Lac-Saint-Jean region, is pleased to announce that it has received the detailed report on tests confirming the use of the Company’s high-purity phosphate concentrate in the production of lithium-iron-phosphate (“LFP”) batteries.
These tests were performed (see Press Release dated June 21, 2022) using phosphoric acid samples produced by Prayon Technologies, a division of PRAYON S.A. (“Prayon”), a world leader in the production of purified phosphoric acid and, a necessary ingredient in the production of LFP batteries. The report extensively details the full process of converting Arianne’s phosphate concentrate into acid, reviewed various methods of doing so, optimized performance/recoveries and provided full specifications. Aside from the reports, Arianne also received samples of the purified phosphoric acid made from its phosphate concentrate and produced through the process. Both reports and samples are currently being made available to companies interested in having access to Arianne’s phosphate concentrate or, products made from it.
Due to the inherent technical, economic and safety benefits of the LFP battery, adoption rates have been rapidly increasing. Many leading automobile companies such as Tesla, Ford and Volkswagen are pursuing these batteries for use in their cars and driving demand for the critical materials required for their production. As well, use of the LFP in energy storage systems is also driving demand and will represent a significant market. In looking at independent research, annual demand growth for phosphate concentrate can triple by 2030 from its current annual rate of 2% and, will drive the requirement to construct new facilities to produce the necessary phosphoric acid.
Understanding the potential of this market, Arianne has done extensive work with Prayon on the ability to build and/or partner with those interested in constructing a new Merchant Grade Acid production facility, as a first step. In that capacity, Arianne completed a pre-feasibility study with Prayon (see Press Release dated October 30, 2019) several years ago and, given the demand for purified phosphoric acid, the Company continues to look at opportunities to expand further downstream and be a producer for the LFP market.
“The industry is starting to recognize the importance of sourcing all critical minerals required in the production of batteries, not just lithium,” said Brian Ostroff, President of Arianne. “I believe it is just a matter of time before we see a rush into phosphate similar to what we have seen in other critical materials. Arianne is one of very few companies that have already gone through the process to qualify its material for use in the LFP; a process that takes considerable time and money. Further, the Company’s Lac à Paul project is fully permitted, shovel-ready and, in a jurisdiction that stands to benefit greatly from various government initiatives to secure critical materials from a safe, secure region. The world will certainly require more phosphate, Arianne is first-up to be able to provide for this growth.”
Qualified Person
Raphael Gaudreault, eng., Qualified Person by NI 43-101, has approved this release. Mr. Gaudreault is also the Company’s Chief Operating Officer.
Neither 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.
About Arianne Phosphate:
Arianne Phosphate (“Arianne Phosphate Inc.”) (www.arianne-inc.com) is developing the Lac à Paul phosphate deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants (Feasibility Study released in 2013). The Company has 190,270,681 shares outstanding.
Neither 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.
