Micrex Development Corp. announced that it has received a $2,000,000 order from Chemco Inc. for magnetite to be used for the production of ferric sulphate for water treatment plants. As part of this agreement, Chemco will be working with Micrex on the sale of magnetite for this specialized market throughout eastern Canada and northeastern United States.

This comes at the end of a large evaluation program of various magnetite sources, including the St-Charles de Bourget deposit where drilling, testing and assays were conducted. Micrex estimates the market in Canada and the US for magnetite used in the production of ferric sulphate at $10,000,000 annually. Delivery of this order is expected to occur in early 2014.