Vertical Exploration Inc. [VERT-TSXV] provided an update on its recent activities related to the further development of its 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 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 continuing research and co-operation alliance with Mineraux Mart Inc. 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.