Logistics
-- The calculated haulage cost corresponds to an average price per tonne per kilometre of US$0.083 based on a gas price of US$1.10 per litre.-- The large distances from the mine and beneficiation/granulation plants to the various West African markets and sea ports will require a thorough logistics plan.
Market Study
-- West Africa's P2O5 demand is projected to increase from 184,000 t in 2010 to 287,000 t in 2020, and 430,000 t in 2030. However, based on Abuja Declaration targets, potential but realizable requirements of phosphate fertilizers will be approximately 537,000 t of P2O5 in 2020 and over 1,000,000 t of P2O5 in 2030. Recognizing that increased fertilizer use is essential for preventing nutrient depletion and soil degradation, many West African governments already promote fertilizer use, through the allocation of subsidies.-- Tilemsi phosphate is highly reactive, demonstrating excellent agronomic effectiveness in West African soils comparative to imported, commercially manufactured fertilizers.-- Tilemsi phosphate offers a unique local source of phosphate, suitable as a direct application fertilizer (medium grade) or as a component of blended NPK fertilizers (high grade). Such local fertilizer production diminishes transportation costs especially for landlocked West African breadbaskets, reduces foreign exchange, and ensures timely and secure supplies of quality fertilizer products at stable domestic prices.
The Company cautions that the PEA is preliminary in nature, as it includes "Inferred Mineral Resources" which are considered too speculative geologically, to have the economic considerations applied to them that would enable them to be categorized as "Mineral Reserves". There is no certainty that the PEA will be realized, as Mineral Resources do not demonstrate economic viability.
Mali Situation
As the situation in Mali and in the city of Gao, in particular, continues to progress towards normalization, Great Quest will communicate in a future press release how it plans to resume activity at its Tilemsi Phosphate Project.
Qualified Person
The technical information in this press release has been reviewed and approved by Jed Diner, MSc. P.Geol., a Qualified Person as defined by NI 43-101. Mr. Diner completed his MSc. in Applied Earth Science at Stanford University in 1983 and works internationally on mineral exploration and resource development projects. He has consulted on other phosphate projects in Uzbekistan, Peru and Angola.
About Great Quest
Great Quest Metals Ltd. is a Canadian mineral exploration company with assets in Mali, West Africa. The Company is focused on developing the Tilemsi Phosphate Project, encompassing 1,206 km2 in northeastern Mali. The Company also holds several gold concessions in the productive Birimian gold belt, in southwestern Mali. Great Quest is listed on the TSX Venture Exchange under the symbol GQ, and the Frankfurt Stock Exchange under the symbol GQM.
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST METALS LTD.
Joel Jeangrand - President, CEO & Director
The statements that are not historical facts and are forward-looking statements involving known and unknown risks and uncertainties could cause actual results to vary materially from the targeted results. We seek safe harbor.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Great Quest Metals Ltd.
Candice Font
Investor Relations
+1 604-689-2882 or Toll Free: 1 877-325-3838
