Printer Friendly
The Free Library
14,496,998 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Orbite: Acquisition of an Alumina Clay 'Mudstones' Property in the Murdochville Area.


MONTREAL -- Exploration Orbite (TSX TSX Toronto Stock Exchange (TSE before April, 2002)
TSX Transfer from Stack Pointer to Index
TSX True Space Extension
 VENTURE:ORT.A) (ORBITE) is pleased to announce the acquisition of the Grande-Vallee property located 32 km north-east of Murdochville, Gaspe Peninsula, Qc. The property is composed of 12 map-designated claims ("CDC See Control Data, century date change and Back Orifice.

CDC - Control Data Corporation
") covering a total surface of 676.5 hectares (NTS-Sheet 22H03). The property is easily accessible by road with services and labour.

A purchase agreement was signed on August 29th for the acquisition by ORBITE of the 100% property interest owned by Poly-Vein Expl. Inc. This transaction involves payment in the form of 500 000 shares of ORBITE stock distributed over a two-year period. 100 000 shares is to be disbursed upon approval by the regulatory authorities. Two additional tranches of 200 000 shares also to be paid on theagreement's first and second anniversaries. ORBITE also agrees to pay a 3% NPI NPI National Provider Identifier, see there  (net profits interest) resulting from production. 100% of the NPI can be bought back for a sum of $500 000 after a five year production period. ORBITE is also committed to investing $100 000 in research and exploration work over the next 16 months.

Alumina (Al2O3) is widely used to produce aluminum metal and a variety of other manufactured products. The aluminum production process generally requires Bauxite bauxite (bôk`sīt, bŏk`–), mixture of hydrated aluminum oxides usually containing oxides of iron and silicon in varying quantities. . However, there is an alternative process that can be fed by materials stemming from alumina clays having an appropriate Al2O3 content. This is the case for the Grande-Vallee clays, which grade 24.2% Al2O3.

Sampling of the property done in 2001 by R. W. Turner, consulting geologist, have identified three zones with especially high potential. The volume estimates for the three zones represents some 16.5 million cubic meters of clay. The alumina content of the samples were calculated through the highly-reliable X-ray fluorescence and diffraction analysis techniques, performed independently by COREM laboratories, Quebec City.

ORBITE is presently preparing a value added Value Added

The enhancement a company gives its product or service before offering the product to customers.

Notes:
This can either increase the products price or value.
 strategic approach to the project including planning, field work and the further detailed analysis and research on the chemical and mineral nature of the clay.

TSX Venture does not accept any responsibilities concerning the validity or veracity veracity (vras´itē),
n
 of the information contained in this release.

EXPLORATION ORBITE VSPA (Very Small Peripheral Array) An earlier surface mount chip housing from The Panda Project, Inc., Boca Raton, FL. VSPA offered a 60% reduction in size over the popular PQFP method while adding more contacts. See Compass connector.  INC. (TSX VENTURE:ORT.A)
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Aug 30, 2005
Words:358
Previous Article:Orbital Receives Contract for Horizons-2 Commercial Communications Satellite; Joint Venture Between PanAmSat and JSAT to Utilize Company's STAR(TM)...
Next Article:WashACE Analysis: Washington State Economy is Stronger, But Projected State Spending Will Exceed Available Revenues for Foreseeable Future.



Related Articles
Study gives new answer for muddy mystery.(Brief Article)
Cast Refractory Shapes.
Huber Engineered Materials.(Distributor Announcements)
Fillers.(Product Lines Reviewed)
Performance materials.(Brochures)
The Science of clay.(All Levels)
Fillers.(PRODUCT LINES REVIEWED)
Core and molding sands.(SAND PREPARATION/CONDITIONING/TESTING)
Fillers.(PRODUCT LINES REVIEWED)
High alumina Sol-Gel crucibles.(METALCASTING SUPPLIES)

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles