Applied Minerals produces Dragonite™ from its wholly owned source, the Dragon Mine, located in the state of Utah (USA). Dragonite™ Halloysite is an inorganic, aluminosilicate clay, exhibiting a unique naturally occurring tubular morphology. The intrinsic properties of the clay, such as its very high surface area, micron size particles, and natural capillary pore structure, inspired the Company to develop its use as a natural, alternative sorbent, to assist in the bioremediation of the Gulf Spill. The desired objective of the material was to determine its ability to wick oil from the oil saturated subsurface to the surface where aerobic biodegradation can take place. Preliminary testing performed under the direction of the EPA revealed the ability of Dragonite™ to effectively “wick” 42.0% - 98.2% of oil, under a range of extremes designed to simulate the Gulf marshland conditions.In light of the results, the CRADA was formed to combine the expertise and resources in collaboration to further maximize the effectiveness of the Dragonite™ product. According to Andre Zeitoun, President and CEO of Applied Minerals, Inc.,: “We are delighted that the EPA has recognized the potential of our Dragonite™ product as a natural bioremediation tool, especially in light of the several thousand proposals made to them during the Gulf disaster. The Company remains committed to the development of our Dragonite™ product for toxic remediation and we couldn’t ask for a better partner than the EPA to assist us in our further development.” About Applied Minerals, Inc. Applied Minerals Inc. is a leading global producer of Halloysite Clay from their wholly owned Dragon Mine property in Utah. Halloysite is an aluminosilicate clay that exhibit a unique naturally occurring tubular morphology. In addition to serving the traditional Halloysite markets for use in technical ceramics and catalytic applications, the Company has developed applications that benefit from its tubular morphology of its Halloysite. These include: carriers of active ingredients in paints, coatings and building materials, agricultural applications and high-performance functional fillers & additives in advanced polymer composites.
Statements in this press release that are not historical facts, and this includes all the statements concerning future-oriented statements relating to processing, capacity, costs, notifications, working together, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of significant risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied.