NAUTILUS MINERALS COMMENCES COMMISSIONING OF THE AUXILIARY CUTTER
Toronto Ontario, February 23, 2015 – Nautilus Minerals Inc. (TSX:NUS, OTCQX: NUSMF) (the “Company” or “Nautilus”) announces that the commissioning and Factory Acceptance Testing of its third and final Seafloor Production Tool (“SPT”), the Auxiliary Cutter, has commenced at Soil Machine Dynamics’ facility at Newcastle upon Tyne, UK.
Nautilus’ CEO, Mike Johnston said “We are very excited that the commissioning of the final of the three SPTs has begun. With the Bulk Cutter and the Collecting Machine having already begun Factory Acceptance Testing and now with the Auxiliary Cutter underway, we are on track to complete this testing phase and take delivery of the three SPTs in Q4 2015.”
The Auxiliary Cutter will weigh in at 250 tonnes when fully assembled. It is a preparatory machine that deals with rough terrain and creates benches for the other SPTs to work. It will operate on tracks with spud assistance and has a boom mounted cutting head for flexibility.
How they will work:
The excavation and collection of mineralised material has been split into three individual tasks, which will each be carried out by a different SPT. The Auxiliary Cutter is designed as the pioneering tool which prepares the rugged sea bed for the more powerful Bulk Cutter. These two tools gather the excavated material; the third, the Collecting Machine, will collect the cut material by drawing it in as seawater slurry with internal pumps and pushing it through a flexible pipe to the subsea pump and on to the vessel via the Riser and Lifting System.
An animation of the seafloor production system and a video showing the assembly of the Bulk Cutter can be viewed on the Company’s website: www.nautilusminerals.com/s/Investors-MediaCoverage.asp
Assembly of Bulk Cutter completed: http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=647179
Assembly of Collecting Machine completed: http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=693082
For more information please refer to www.nautilusminerals.com or contact:
Nautilus Minerals Inc. (Toronto)
Tel: +1 (416) 551 1100
Principal American Liaison
Cowen and Company
599 Lexington Avenue
New York, NY 10022