November 6, 2020
Vancouver, BC – HUDSON RESOURCES INC. (“Hudson” or the “Company”) (TSX Venture Exchange “HUD”; OTC “HUDRF”) is pleased to announce that it has completed its initial sampling program on the high-grade Sarfartoq niobium and tantalum project in Greenland. The samples have arrived at the SGS Lakefield laboratory in Ontario for analysis. Initial results are expected in the coming weeks. Hudson owns 100% of the Sarfartoq exploration license which hosts the Sarfartoq Carbonatite Complex, which includes Hudson’s advanced Sarfartoq rare earth element project.
The Sarfartoq Carbonatite Complex is unique in terms of the niobium and tantalum concentrations, which are unusually high in comparison to any other such deposits throughout the world (https://hudsonresourcesinc.com/projects/niobium-and-tantalum/). It is one of the larger carbonatite complexes with approximate dimensions of 13 X 8 km. It is located near tidewater and adjacent to very good potential hydroelectric sites. The mineral of economic interest is pyrochlore, which is a niobium and tantalum oxide.
A total of 35 samples were collected from outcrop along the 112 meters of exposed pyrochlore mineralization, which host the niobium. Three samples were also collected along the strike length for mineralogical work.
The SGS laboratory will undertake the following analysis:
- Head sample analysis for 35 samples including Nb, Ta, Zr, rare earth element (REE) scan, and whole rock analysis
- Mineralogical study of the three composites including:
- QEMSCAN analysis to provide the mineral identifications (i.e., Nb-Ta, carbonates, silicates), liberation and association of Nb-Ta and associated minerals by size fraction, exposure, grain size, grade-recovery
- Electron microprobe analyses to quantify the chemistry of the Nb-Ta minerals
This detailed analysis of the samples will provide information for the start of the metallurgical program which will be led by Hudson’s Consulting Metallurgist, John Goode. John and the SGS Lakefield team have extensive experience in the processing of niobium and rare earth carbonatite material.
Jim Cambon, President commented: “I am very pleased to have re-initiated work on this very exciting target. It has historically provided some of the highest-grade niobium assays in the industry and we plan to build on that foundation. We intend to carry out metallurgical testwork over the coming months and expect to drill the target in the first half of 2021.”
Niobium and Tantalum are transition elements that are almost always found together in nature. They are vital to a wide range of products in the energy, infrastructure, transportation, medical and defense sectors. The European Union and United States have designated niobium and tantalum as critical to their security and wellbeing.
Dr. Michael Druecker is a Qualified Person, as defined by National Instrument 43-101, and reviewed the preparation of the geological and technical information in this press release.
John R. Goode, P.Eng. is a Qualified Person, as defined by National Instrument 43-101, and reviewed the preparation of the metallurgical and technical information in this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
President and Director
For further information:
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this news release, including, without limitation, statements regarding the Company’s terms of the proposed debt restructuring, the Company’s anticipated use of proceeds of the Debenture and other future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include the outcome of shareholder and regulatory approval for conversion of the Debenture, market prices, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Issuance of the Debenture remains subject to certain conditions and there is no assurance that those conditions will be met. The Company expressly disclaims any intention or obligation to update or revise any forward- looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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.