Progressive Planet Solutions Inc (CVE:PLAN) (OTCMKTS:ASHXF) released a corporate update on Thursday, providing an update on the zeolite miner's activities.
Progressive Planet is a mineral exploration company with its flagship Z1 Zeolite Quarry in BC, and a 100% interest in the Buckingham Graphite Project in Quebec.
Zeolite is a mineral which looks a lot like a light gray gravel when it is dug up from the ground. It's used in a wide variety of applications: water purification, radioactive waste containment, composting, animal feed, as a pozzolan in cement and as an additive to soil, amongst many other uses.
The company said Thursday that it plans to monetize zeolite in four areas.
This included producing and selling its own supplementary cementing materials, selling zeolite as a soil amendment in agriculture, as a flowing/anticaking agent for livestock feeds, as well as an alternative to straight road salt for de-icing and anti-slip for commercial property care companies.
Progressive Planet also gave an update on 2018 activities, which included divesting of three early stage mineral properties to focus resources on developing markets for zeolite, while testing the zeolite from the Z-1 Quarry for various properties. The company also added multiple members to its board of directors, its advisory board as well as employees with backgrounds in engineering, geology, and chemistry.
On the road ahead, one particular item of interest is Progressive Planet's plans to focus its efforts on using zeolite as a supplementary cementing material (SCM).
"The cement industry is currently responsible for about 5% of global anthropogenic CO2 emissions," said the company in a statement. "PLAN believes there is a large opportunity to produce greener concrete blends."
This is known as Class N SCM, and there are a number of factors that makes this type of material more environmentally friendly than conventional cement. Class N SCM's are produced without the combustion of massive amounts of hydrocarbon fuels and are produced by grinding pozzolanic materials (including zeolite, pumice, diatomaceous earth, and kaolin).
The most common SCM used in North America today is fly ash, which is a Class F SCM.
Progressive Planet said samples of its zeolite tested by an independent BC company owned by engineers with significant experience in the cement industry, and were tested for its compressive strength.
"We are pleased to announce that our zeolite had superior strength versus commercially available fly ash (Class F SCM)," said the company in a release, adding the company has received an expression of interest from an independent third party to partner on producing pulverized zeolite from the Z1 Quarry and discussions are ongoing, however, no deal has yet been reached.
The company said it purchased a Collider Mill in the summer of 2018 which can produce serval hundred pounds per hour of pulverized zeolite. This asset is being used to develop quantities of Class N SCM's from zeolite that has been mined from its Z1 Quarry.
Progressive Planet also announced that long-time shareholder, David Miedzygorski, has accepted a position handling investor relations.
Shares of Progressive Planet were up 12.5% at C$0.05 on Thursday.