BacTech to Investigate Colombia Gold Tailings Project
August 10, 2020 - TheNewswire - Toronto, Canada - BacTech Environmental Corporation ("BacTech" or the "Company") (CSE:BAC) (CNSX:BAC.CN) (OTC:BCCEF) today announced that it has agreed to investigate a gold mine tailings site near Medellin, Colombia with MetalTec, LLC ("MetalTec"). MetalTec, based in Naples, Florida, operates an alluvial mine in Colombia as well as brokering gold produced by small miners.
Ross Orr, President and CEO of BacTech, states: "We were recently contacted by MetalTec to investigate a tailings site near their alluvial mine in Colombia. The stated gold and platinum grades appear to be significant but require an independent third party to verify the results which were presented to us. Prior to assaying, it would be premature to discuss economic implications. The presence of arsenic is, of course, of interest to us as a condition which makes our technology particularly appropriate."
MetalTec will be responsible for hiring an independent third party who will drill a minimum of 2 holes in the tails to recover material for assessment. BacTech will then have the samples assayed for gold, platinum and arsenic as well as produce a mineralogy report. If the results are suitable, we will apply for permits and reprocess the tails."
The tailings, which date back to the 1930's, were generated from an underground mine. Material collected by the independent third party will be sent to an accredited lab for assay and metallurgical test work. The resulting concentrate would then be sold until such time as the material can be shipped to BacTech's proposed bioleach plant to be based in Ponce Enriquez, Ecuador.
As a point of reference, a 100 tpd flotation plant would produce approximately 10-15 tpd of concentrate. The expected capacity of the Ponce Enriquez bioleach plant is 50 tpd of arsenic/gold concentrate.
BacTech continues to seek out opportunities for its technology to be applied to waste cleanup in an economically attractive way to assist in cleaning up potentially dangerous sites.
ABOUT METALTEC, LLC
MetalTec, LLC is a vertically integrated mining company headquartered in Naples, Florida. The Company operates several alluvial mines near Medellin, Colombia and has multiple output contracts across the country.
BacTech is promoting the use of its proprietary bioleach processing technology to treat historic arsenopyrite concentrates and tailings produced in the Ponce Enriquez area of Southern Ecuador.
BacTech has agreed to participate with a group looking to reprocess the Arsenic Stockpile in Snow Lake, Manitoba as a technology partner.
For further information contact: Ross Orr, President & CEO, BacTech Environmental Corporation/ 416-813-0303 ext. 222, Cell 416-346-5529 and Email: email@example.com
Robin Cook, Investor Relations: 416-809-1738, Email: firstname.lastname@example.org
Follow us on:
Special Note Regarding Forward-Looking Statements
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to future tailings sites, sampling or other investigations of tailing sites, the Company's ability to make use of infrastructure around tailings sites or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified using words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether because of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Shares outstanding: 105,420,423