Vertical Exploration in Discussions with Major European Firm for the Development of Industrial Products for its St-Onge Wollastonite
VANCOUVER, BC / September 19th, 2023 / VERTICAL EXPLORATION INC. (TSX-V: VERT) (“Vertical” or “the Company”) wishes to provide an update on its recent activities related to the further development of the Company’s premium grade St-Onge wollastonite deposit located near Lac-Saint-Jean, Quebec.
Vertical has been approached over the summer by a large European firm interested in developing and testing out the Company’s premium wollastonite for use in a number of innovative markets, including the development of value-added products for niche industrial applications. Vertical and the major European firm have been working diligently together on a series of methodologies and protocols to test out and fine tune the potential industrial products intended for European and other international markets.
Further discussions and collaboration with the European firm related to the development of the specific industrial products are continuing, and Vertical is pleased with the progress made to date. The opportunity exists for this current collaboration with the European firm to develop into a potential partnership or offtake agreement in the future. Vertical intends to provide further updates as this important collaboration progresses.
In addition, Vertical would also like to report that its ongoing Research and Cooperation Alliance with Mineraux Mart Inc. (see Vertical’s June 22nd, 2023 news release) related to the research, development and testing of innovative products for the Company’s St-Onge wollastonite is progressing well. Vertical initially delivered a 29-tonne shipment of its premium wollastonite to Mineraux Mart in early summer for initial testing, and Mineraux Mart is now continuing to sample and further test the St-Onge wollastonite in order to develop high-value products and applications for both the industrial and agricultural markets. Mineraux Mart also continues to check-in with Vertical on a regular basis to discuss the product testing results and potential new market opportunities. The Company looks forward to its further work with Mineraux Mart over the upcoming Fall period and will provide further updates on the progress of the Research and Cooperation Alliance.
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 flagship 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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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).