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): June 20, 2023 ****
SCANDIUM INTERNATIONAL MINING CORP.
(Exact name of registrant as specified in its charter)
000-54416
(Commission File Number)
| British Columbia, Canada | 98-1009717 |
|---|---|
| (State or other jurisdiction<br><br> <br>of incorporation or organization) | (IRS Employer<br><br> <br>Identification No.) |
1390 Ione Pass Trail, Reno, Nevada, ### 89523
(Address of principal executive offices) (Zip Code)
(775) 355-9500
Issuer’s telephone number
| N/A |
|---|
| (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)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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.
On June 20, 2023, Scandium International Mining Corp. issued a press release entitled “Scandium International Mining Discovers New Mineralized Laterite Formation at Honeybugle, EL7977, NSW”.
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.
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 June 20, 2023. |
|---|---|
| 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. | ||
|---|---|---|
| Date: | June 20, 2023 | (Registrant) |
| Harry de Jonge, Comptroller |
ex_535036.htm
Exhibit 99.1
NEWS RELEASE
TSX: SCY
June 20, 2023
NR 23-02
www.scandiummining.com ****
SCANDIUM INTERNATIONAL MINING DISCOVERS NEW MINERALIZED LATERITE FORMATION AT HONEYBUGLE, EL7977, NSW
Highlights:
| ● | Scandium enriched laterite formation defined at Woodlong prospect within the Honeybugle Exploration Licence 7977 area, where 32 vertical air core holes were drilled during first quarter 2023 in an approximately 300m x 400m area. |
|---|---|
| ● | Notable laterite intercepts: |
| o | 28 meters of 320 ppm Sc starting at 1m (EHAC-080) |
| --- | --- |
| o | 21 meters of 355 ppm Sc starting at 1m (EHAC-083) |
| o | 17 meters of 454 ppm Sc starting at 1m (EHAC-084) |
| o | 9 meters of 569 ppm Sc starting at 2m (EHAC-087) |
| o | 11 meters of 632 ppm Sc starting at 1m (EHAC-090) |
| o | 10 meters of 537 ppm Sc starting at 1m (EHAC-092) |
| o | 13 meters of 500 ppm Sc starting at 2m (EHAC-094) |
| o | 13 meters of 517 ppm Sc starting at 2m (EHAC-099) (composite of 2 intervals) |
| ● | Potential for additional saprolite mineralization beneath the laterite zone. |
| --- | --- |
| ● | Shallow nature of mineralization 24 kilometers away from the Company’s Nyngan Scandium Project adds flexibility for future developments as the scandium market develops. |
Reno, Nevada, June 20, 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 Honeybugle property in New South Wales (NSW), Australia. The drilling program consisted of 32 drillholes in an approximately 300 x 400 meter area as a follow up to previous scout drilling programs completed during 2016 and 2018.
Drillhole Location Map at Woodlong
Peter Evensen, CEO of Scandium International commented, “We are very excited to announce the discovery of this scandium enriched laterite at Woodlong. With SCY’s renewed focus on its scandium portfolio announced in 2Q 2022, discovering a scandium enriched laterite formation less than two meters from surface only 24 kilometers from the Nyngan Scandium Project opens up significant potential for long-term development of the Company’s scandium portfolio.”
Woodlong Laterite Assays by Sc ppm (other figure intercept length)
The laterite mineralization, consisting of both hematite and limonite, lies less than 2 meters below the surface. The laterite zone appears to thicken to both the west and south. The scandium grades are reasonably consistent within the central portion of the laterite at >300ppm Sc.
The underlying saprolite zone is considerably thinner but contains reasonable grades of scandium (>200ppm Sc). Additional metallurgical testing is required on the saprolite mineralization to determine suitability for potential economic extraction.
Laterite Zone Assay Intervals at Woodlong
The entire log of laterite zone assay intervals at Woodlong is disclosed below.
Holes EHAC076 – 107 were drilled as part of the 2023 program.
Note: Grid coordinates are Grid Datum Australia 1994, MGA94, Zone 55
| Drillhole<br> ID | East | North | From<br> (m) | To<br> (m) | Int<br> (m) | Sc <br> (ppm) |
|---|---|---|---|---|---|---|
| EHAC037 | 495,082 | 6,477,252 | 0 | |||
| EHAC038 | 495,058 | 6,477,199 | 0 | |||
| EHAC039 | 495,023 | 6,476,931 | 0 | 12 | 12 | 353 |
| EHAC040 | 494,931 | 6,476,951 | 6 | 12 | 6 | 343 |
| EHAC041 | 494,954 | 6,476,827 | 3 | 15 | 12 | 125 |
| EHAC049 | 494,882 | 6,477,003 | 0 | |||
| EHAC050 | 494,894 | 6,476,928 | 1 | 21 | 20 | 106 |
| EHAC051 | 494,864 | 6,477,067 | 0 | |||
| EHAC052 | 494,955 | 6,477,037 | 0 | |||
| EHAC053 | 495,048 | 6,477,007 | 2 | 4 | 2 | 335 |
| EHAC054 | 494,988 | 6,476,896 | 1 | 6 | 5 | 154 |
| EHAC055 | 494,979 | 6,476,975 | 1 | 8 | 7 | 404 |
| EHAC056 | 495,104 | 6,476,872 | 4 | 12 | 8 | 636 |
| EHAC057 | 495,184 | 6,476,905 | 0 | 5 | 5 | 160 |
| EHAC058 | 495,086 | 6,476,939 | 2 | 5 | 3 | 393 |
| EHAC059 | 495,137 | 6,476,979 | 0 | 2 | 2 | 170 |
| EHAC060 | 495,219 | 6,477,001 | 1 | 2 | 1 | 100 |
| EHAC076 | 495,103 | 6,476,698 | 3 | 12 | 9 | 144 |
| EHAC077 | 495,150 | 6,476,700 | 3 | 12 | 9 | 137 |
| EHAC078 | 495,202 | 6,476,700 | 4 | 20 | 16 | 152 |
| EHAC079 | 495,049 | 6,476,749 | 1 | 27 | 26 | 144 |
| EHAC080 | 495,101 | 6,476,750 | 1 | 29 | 28 | 320 |
| EHAC081 | 495,150 | 6,476,751 | 1 | 27 | 26 | 258 |
| EHAC082 | 495,049 | 6,476,800 | 2 | 18 | 16 | 183 |
| EHAC083 | 495,099 | 6,476,800 | 1 | 22 | 21 | 355 |
| EHAC084 | 495,149 | 6,476,800 | 1 | 18 | 17 | 454 |
| EHAC085 | 495,000 | 6,476,868 | 2 | 9 | 7 | 237 |
| EHAC086 | 495,050 | 6,476,870 | 1 | 16 | 15 | 289 |
| EHAC087 | 495,149 | 6,476,870 | 2 | 11 | 9 | 569 |
| EHAC088 | 494,979 | 6,476,933 | 1 | 9 | 8 | 421 |
| EHAC089 | 495,131 | 6,476,935 | 1 | 4 | 3 | 447 |
| EHAC090 | 494,942 | 6,476,975 | 1 | 12 | 11 | 632 |
| EHAC091 | 495,051 | 6,476,975 | 1 | 4 | 3 | 333 |
| EHAC092 | 495,101 | 6,476,977 | 1 | 11 | 10 | 537 |
| EHAC093 | 494,949 | 6,477,007 | 1 | 3 | 2 | 435 |
| EHAC094 | 494,999 | 6,477,007 | 2 | 15 | 13 | 500 |
| EHAC095 | 495,099 | 6,477,007 | 1 | 3 | 2 | 300 |
| EHAC096 | 494,949 | 6,477,057 | 0 | |||
| EHAC097 | 495,000 | 6,477,058 | 1 | 7 | 6 | 328 |
| EHAC098 | 495,050 | 6,477,058 | 0 | 2 | 2 | 145 |
| EHAC099 | 495,102 | 6,477,059 | 2 | 21 | 13 | 517 |
| EHAC100 | 494,999 | 6,477,102 | 0 | |||
| EHAC101 | 495,049 | 6,477,102 | 0 | |||
| EHAC102 | 495,100 | 6,477,102 | 0 | |||
| EHAC103 | 495,150 | 6,477,055 | 2 | 7 | 5 | 418 |
| EHAC104 | 495,011 | 6,476,977 | 1 | 9 | 8 | 345 |
| EHAC105 | 495,198 | 6,476,933 | 0 | |||
| EHAC106 | 494,939 | 6,476,869 | 1 | 17 | 16 | 124 |
| EHAC107 | 495,199 | 6,476,869 | 1 | 8 | 7 | 250 |
EL7977 HONEYBUGLE
The Company’s Honeybugle tenement, EL7977, contains areas of lateritic material common to the region and is situated 24 kilometers south of EMC’s Nyngan Scandium Project area. The property itself is located in semi-arid broad-acre wheat farming country and is routinely planted. Farming is the largest industry in the area, although other mining activity is evident, past and present.
The tenement encompasses 34.7 square kilometers, and includes four prospects identified by distinct magnetic anomalies that reflect underlying mafic to ultramafic bedrock: Seaford, Woodlong, Yarran Park and Mallee Valley. These prospects were tested by companies exploring principally for platinum, nickel and cobalt during the 1980s, but scandium was of little interest at that time. Surface soil and rock chip sampling conducted by previous explorers and the Company detected anomalous scandium values (20-30 ppm Sc) on each of the four prospects.
Sample Preparation & Analysis
The drilling, sampling, packaging and transport of the drill samples was carried out to industry standards for QA/QC. Scandium International employed an independent local geology consulting and drill supervisory team, RME Geological Services Pty. Ltd., of Orange, NSW, Australia (‘RMEGS’), to manage the drilling program on-site. Bulk samples of drill returns were collected at one-meter intervals from a cyclone mounted on the drilling rig and stored in polythene bags. A separate three-tier riffle splitter was used on site to obtain 2.0-4.5kg samples collected over 1-meter intervals, for assay. Individual sample identifiers were cross-checked during the process. The samples for assay were placed in sealed polyweave bags that remained in RMEGS’s possession until the completion of the drilling program, at which time they were transported to the RMEGS offices in Orange. There, the sequence of sample numbers was validated and the assay samples were submitted to Australian Laboratory Services’ (ALS) laboratory in Orange. The remnant bulk samples were taken to secure long term storage in Orange.
Sample preparation at ALS consisted of weighing, drying, crush & pulverize entire sample to better than 85% passing 75µm, splitting. The analytical technique consisted of fusion XRF for laterite material (ALS code ME-XRF12n), with a detection limit of 0.001% for Scandium.
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) 355-9500
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.