Vertical Announces Encouraging Results from its Phase 1 Wollastonite Research and Development Program with AGRINOVA
VANCOUVER, BC / May14th, 2019 VERTICAL EXPLORATION INC. (TSX-V: VERT) (“Vertical” or “the Company”) is pleasedto announce that, further to its press release dated April 29, 2019, the Company has received positive results from its Phase 1 Research and Development program that was conducted by AGRINOVA using wollastonite from the Company’s St-Onge deposit. All of the research and testing in the Phase 1 program was managed and monitored by AGRINOVA, a highly-regarded Center for Research and Innovation in Agriculture in Quebec, in an effort to optimize the potential agricultural uses of wollastonite and help improve production methods for farmers and agricultural companies located in Quebec.
The Phase 1 program conducted by AGRINOVA over the past year focused on research and testing in two key component areas, including characterizing and confirming that Vertical’s wollastonite can meet regulatory requirements for agricultural applications in Quebec and investigating potential markets for the St-Onge wollastonite resource. The third key component of the Phase 1 program, which involves developing applied research programming in order to allow Vertical’s wollastonite to be upgraded according to regulatory requirements and markets, will be the subject of a further study to be undertaken by AGRINOVA in the upcoming months.
The first component results provided by AGRINOVA clearly indicate that Vertical’s St-Onge wollastonite could be BNQ (Bureau de nomalisation du Quebec ) certified or registered under the Fertilizers Act in Quebec, and potentially be used in the manufacture of slow-mineralizing fertilizer. The safety profile of Vertical’s wollastonite was successfully demonstrated by a germination and elongation test with barley. AGRINOVA went on to report that the St-Onge wollastonite has a neutralizing power and efficiency which compares it favorably with current lime products, and that it has appreciable levels of major and minor elements (Silicon, Calcium, Magnesium and Manganese) that are essential for plant nutrition and growth. Another benefit of Vertical’s wollastonite that was identified by AGRINOVA is its high bio-availability of silicon that leads to both enhanced plant growth and resistance to abiotic and biotic stress in a range of agricultural crops, as studies have shown there is a significant need for this element that is not being filled by commercial fertilizers.
Results for the second market study component that was undertaken by AGRINOVA, indicate that wollastonite has a significant potential to be used for maple production (maple syrup production), organic agriculture, sod production, large-scale crops (cereals, corn and soybeans) and boreal forestry (spruce budworm control and post-fire regeneration). Based on these uses, the potential agricultural demand for wollastonite in the initial target market of Quebec could be in the order of 6,400 tonnes for the Saguenay-Lac-Saint-Jean region, and approximately 274,000 tonnes for the province of Quebec as a whole. AGRINOVA also estimates that there could be additional demand of approximately 59,000 tonnes from the Maritime Provinces of Canada, based on the increased potential for wollastonite to be used for regional blueberry and potato crops.
Peter P. Swistak, president and chief executive officer of Vertical Exploration, commented:”These intital results from AGRINOVA’s Phase 1 program are very encouraging and show that Vertical’s wollastonite can potentially become BNQ certified for agricultural use in Quebec, which again is an important and necessary step for Vertical to take before it can move forward with its marketing and sales efforts in Quebec. The AGRINOVA report also verifies that our St-Onge wollastonite has a number of valuable natural mineral properties that support overall soil health, help control pests and bolster yields for maple trees, barley and blueberries alike. I am also very pleased to find that Vertical’s wollastonite has the potential to be classified as an organic certified fertilizer and soil amendment. Given these very positive results, we are now moving forward to engage AGRINOVA to conduct additional work on the third component of the Phase 1 program over the coming months. This component will involve AGRINOVA designing and implementing an applied research program in order to allow Vertical’s wollastonite to be upgraded for other potential uses and then tested according to varying regulatory requirements and markets. We look forward to providing updates and results from this important third research component as they become available.”
The complete AGRINOVA Phase 1 program report will be uploaded and made available to shareholders and the public on the Company’s website (https://vertxinc.com).
AGRINOVA (www.agrinova.qc.ca), the Center for Research and Innovation in Agriculture, is a Technology Access Centre located in Alma, Quebec that provides technical help and services to farmers and agricultural companies throughout the province in order to help them access new technologies and assist them with the adoption of innovative new technologies and practices. AGRINOVA’s technology support focuses primarily on consumer concerns (milk quality); reducing greenhouse gas (GHG) emissions; organic or natural products; comfort and well-being of animals; digital adoption; and the economic efficiency of companies.
ABOUT VERTICAL EXPLORATION
Vertical Exploration’s mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. The Company’s St-Onge Wollastonite property is located in the Lac-Saint-Jean area in the Province of Quebec.
ON BEHALF OF THE BOARD
Peter P. Swistak, President/CEO
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FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).