8-K
SCANDIUM INTERNATIONAL MINING CORP. (SCYYF)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 8, 2023 ****
SCANDIUM INTERNATIONAL MINING CORP.
(Exact name of registrant as specified in its charter)
000-54416
(Commission File Number)
| British Columbia , Canada<br><br> <br>State or other jurisdiction<br><br> <br>of incorporation or organization) | 98-1009717<br><br> <br>(IRS Employer<br><br> <br>Identification No.) |
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1390 Ione Pass Trail, Reno, Nevada, ### 89523
(Address of principal executive offices) (Zip Code)
(775) 355-9500
Issuer’s telephone number
| N/A |
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Securities registered pursuant to Section 12(b) of the Act: None
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 7.01 | Regulation FD Disclosure. |
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On August 8, 2023, Scandium International Mining Corp. issued a press release entitled “Scandium International Mining Reports Results From Drilling Program at Nyngan Scandium Project”.
A copy of the press release is attached to this report as Exhibit 99.1 and incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information in this report, including the exhibit attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
| Item 9.01 | Financial Statements and Exhibits. |
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The following Exhibit relating to Item 7.01 is intended to be furnished to, not filed with, the SEC pursuant to Regulation FD.
| 99.1 | News release dated August 8, 2023. |
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| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Scandium International Mining Corp. | ||
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| Date: | August 8, 2023 | (Registrant) |
| Harry de Jonge, Comptroller |
ex_556127.htm
Exhibit 99.1
NEWS RELEASE
TSX: SCY
August 8, 2023
NR 23-03
www.scandiummining.com ****
SCANDIUM INTERNATIONAL MINING REPORTS RESULTS FROM DRILLING PROGRAM AT NYNGAN SCANDIUM PROJECT
Reno, Nevada, August 8, 2023 – **** Scandium International Mining Corp**.** (TSX:SCY) (“Scandium International” or the “Company”) is pleased to announce the results of its recently completed air core drilling campaign at its Nyngan Scandium Project in New South Wales (NSW), Australia. The program consisted of 11 drillholes designed to delineate the western and northwestern edges of the already established mineral resource at the project.
Peter Evensen, CEO of Scandium International commented, “The 2023 drilling program is now complete. At the Honeybugle Exploration license, we found a near surface scandium enriched laterite formation at the Woodlong prospect which was the subject of a previous news release; at Nyngan the drilling results have better defined the western boundary of the existing resource and reserve that are the foundation of the 2016 Feasibility Study and are therefore adding to our knowledge of how to optimize development of the project when it goes into production. I would remind investors that the Nyngan Scandium Project has a mineral reserve of 1.43 million tonnes at 409 ppm scandium entirely in the limonite mineral lithology as part of a broader mineral resource of 16.9 million tonnes at 235 ppm scandium that also includes additional limonite along with saprolite mineralization.”
Peter continued, “The Company’s core focus remains unchanged from the strategic decision taken in the 2^nd^ quarter of 2022 to pivot back to the portfolio of scandium assets – to maximize the value of this portfolio and be prepared for when the scandium market has developed sufficiently to require this material. We continue to engage with partners and customers to secure arrangements that will allow the Nyngan Project to move into production.”
| Nyngan Scandium Project –Scandium grades of Limonite Lithology |
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| Nyngan Scandium Project –Limonite Lithology Thickness |
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| Nyngan Scandium Project –Overburden Thickness to Limonite Lithology |
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Qualified Person Statement
Mr. John Thompson, BE, FAusIMM and Vice President – Project Development, and a “Qualified Person” as defined in NI 43-101, has verified the data, by checking assay data against assay lab certificates, and has approved the technical information in this news release.
For inquiries to Scandium International Mining Corp, please contact:
Peter Evensen (CEO)
Tel: (775) 335-9500
Harry de Jonge (Comptroller)
Tel: (702) 703-0178
Email: ir@scandiummining.com
This press release contains forward-looking statements about the Company and its business. Forward looking statements are statements that are not historical facts and include but are not limited to statements regarding the Offering, the use of proceeds, and closing of the final tranche of the Offering. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause the Company's actual results or achievements to differ materially from those expressed in or implied by forward looking statements. Forward-looking statements are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and other than as required by applicable securities laws, the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change.