June 1, 2023
NR2023-02
Vancouver, BC – HUDSON RESOURCES INC. (“Hudson” or the “Company”) (TSX Venture Exchange “HUD”; OTC “HUDRF”) is pleased to provide initial sampling results on the Company’s 100% held Gronne Bjerg (Green Mountain) anorthosite project (“Project”) in Greenland. The Company has also commenced testwork to produce a green alumina for the aluminum industry. Hudson is continuing to support Neo North Star Resources Inc. in its development of the Sarfartoq REE project where the Company has an interest (see NR2023-01).
The Gronne Bjerg project, which was staked by Hudson in 2021 (see Hudson MD&A November 29, 2021), is approximately 80 km from Nuuk, the capital of Greenland, and favourably located on open tidewater. Hudson first sampled the Gronne Bjerg project in 2012 as part of a regional sampling program to identify the highest quality anorthosite targets in Greenland. This initial high-level sampling provided the best results of all anorthosites sampled, however the area was not available for staking at the time.
In the fall of 2022 Hudson conducted a reconnaissance program at Gronne Bjerg which included the collection of 29 samples from outcrop over an area of 3.9 square kilometers. The samples were sent to ALS Laboratories in Canada for analysis and the results demonstrated a high aluminum content, low impurities, and excellent continuity over the area sampled. The average analysis for key elements for all the samples are as follows:
- Al2O3 (aluminum oxide): 32.06 %
- SiO2 (silicon dioxide): 47.24 %
- CaO (calcium oxide): 14.98 %
- Na2O (sodium oxide): 2.27 %
- Fe2O3 (iron oxide): 1.15 %
Based on the high chemical quality of anorthosite sampled, Hudson has initiated a testwork program at SGS Lakefield in Canada to produce a green waste-free smelter grade alumina utilizing the flowsheet developed by the Company from 2013 through 2015 (see NR2013-07, NR2014-01, NR2014-05)). This significant testwork culminated in a robust Preliminary Economic Assessment (PEA) for specialty alumina production (see NR2015-01). The PEA demonstrated that a quality alumina product can be made while producing zero tailings and only useful by-products, compared to bauxite which produces almost four tonnes of caustic tailings per tonne of aluminum.
The SGS testwork program will take approximately four months to complete with the objective of producing green alumina suitable as a feed material for aluminum producers.
Jim Cambon, President commented “The initial assay results from our 100% owned Gronne Bjerg anorthosite project are exceptional and our strong treasury will allow us to advance a testwork program to produce “green” smelter grade alumina in the coming months. Over the past decade we have gained significant expertise in the evaluation, mining and product development of anorthosite. With this
knowledge and over 15 year’s experience operating in Greenland we plan to rapidly advance the Gronne Bjerg project. Hudson is focussed on anorthosite as the future for green aluminum production. We also plan to commence a testwork program in 2023 to build on previous successful R&D to produce a CO2-free white cement product. The 2023 field program at Gronne Bjerg will include further definition of the anorthosite body and bulk sampling to provide material for ongoing R&D work.”
The Company is in discussions with industrial and technology groups to potentially partner on green alumina and green cement projects. This aligns perfectly with Hudson’s core values in the creation of green products that we believe will attract ESG investors.
Green Aluminum
Hudson strongly believes that anorthosite is the future for green aluminium production which will increasingly be demanded by consumers. Global aluminum demand is expected to increase by almost 40 per cent by 2030 (CRU Report, May 2022). A recent World Bank report described aluminum as crucial for the energy transition as the metal is critical to solar power panels and electric vehicles. The amount of aluminum used in European cars increased by 18% from 174kg in 2019 to 205kg in 2022 according to automotive consultancy Ducker Carlisle (Mining.com May 2023). The report predicts this trend will continue to increase to 256kg per vehicle by 2030. China currently accounts for 58% of global output of aluminum. Europe has traditionally relied on Russia for aluminum supply.
CO2 Free Cement
In 2016/2017 Hudson completed successful testwork to produce a CO2 free, heat resistant (refractory) and acid resistant white cement (see NR2018-01). The work was carried out at the University of British Columbia Ceramics and Refractories Research and Testing Laboratory. Hudson plans to commence additional testwork on cement application in 2023 and is in discussions with a number of research facilities capable of executing a testwork program.
Neo North Star Resources Inc.
As recently announced (see NR2023-01) Hudson has a potential 5% carried interest in the Sarfartoq REE project in Greenland partnered with Neo North Star Resources Inc. (NNSR), controlled by Neo Performance Materials. NNSR has commenced a significant field program at Sarfartoq REE project for 2023.
White Mountain Anorthosite Mine
Hudson has a 31% interest in the White Mountain anorthosite mine in Greenland owned by Lumina Sustainable Materials.
J.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. Michael Druecker P. Eng., 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.
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim Cambon”
President and Director
For further information:
Ph: 778-373-2164
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking information” within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, statements, projections and estimates with respect to the Share Consolidation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Such information is based on information currently available to Hudson and Hudson provides no assurance that actual results will meet management’s expectations. Forward-looking information by its very nature involves inherent risks and uncertainties that may cause the actual results, level of activity, performance, or achievements of Hudson to be materially different from those expressed or implied by such forward-looking information. Actual results relating to, among other things, completion of the agreement, results of exploration, project development, reclamation and capital costs of Hudson’s mineral properties, and financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: an inability to complete the agreement on the terms as announced or at all; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Hudson’s activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Hudson’s forward-looking statements. These and other factors should be considered carefully and accordingly, readers should not place undue reliance on forward-looking information. Hudson does not undertake to update any forward-looking information, except in accordance with applicable securities laws.