Miami, FL – July 15, 2020 (EmergingGrowth.com NewsWire) — EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on Bactech Environmental Corp. (OTC Pink: BCCEF), (CSE: BAC).
Small cap BacTech Environmental Corporation (CSE: BAC; OTC: BCCEF) has announced a key step toward moving their bioleaching project forward – the completion of collecting gold concentrate samples produced by six different gold processing facilities in Ponce Enriquez and Portovelo, Ecuador.
Last week, small cap BacTech Environmental Corporation (CSE: BAC; OTC: BCCEF) announced a key step toward moving their bioleaching project forward – the completion of collecting gold concentrate samples produced by six different gold processing facilities in Ponce Enriquez and Portovelo, Ecuador. The six collected 10 kg samples will be assayed at a local laboratory and a representative composite sample will then be made and shipped to Perth, Australia. Once in Perth, the sample material will be sent to ALS Labs where a Bioleach Test Program will be undertaken under the supervision of BacTech V.P., Technology and Engineering, Dr. Paul Miller. The Bioleach Test Program results and report are expected to be completed within six months. Based on prior BacTech sampling experience, the Company anticipates a positive outcome to the proposed Bioleach Test Program, at which time a third-party engineering group will be engaged to undertake a Prefeasibility Study that would provide anticipated economics for the project.
BacTech Environmental itself began as BacTech Mining Corporation in 1988 with origins in Western Australia, was then incorporated in Ontario (Canada) in mid-1997 and went public in September of the same year. In 2010, BacTech Mining Corporation changed its name to REBgold Corporation and as part of a new Plan of Arrangement, entered into an agreement with newly created cleantech company (BacTech Environmental Corporation) for the licensing of bioleaching technology to be used by the latter perpetually (exclusively and royalty free) in the remediation of mine tailings. This bioleaching solution uses bacteria in reactors (tanks) to create a “Garden of Eden” environment for naturally-occurring bacteria to thrive and multiply:
The bacteria is harmless to both humans and the environment while the reactors provide the optimal operating and living conditions so that sulphide materials from mining are oxidized and left in a benign state with zero environmental damage as a result of the bioleaching process itself (e.g. any water used can be reused). This process can accomplish in as little as six days what would normally take 20 years to occur naturally with the added bonus of separating the valuable metals from the otherwise difficult-to-process concentrates.
In Ecuador, as in many areas of the world, mercury is or has long been used by small artisanal miners to separate valuable ores (like gold) from concentrates. These regions also have many contaminated mining sites that would otherwise be left as they are by often cash strapped governments who do not have the funds for remediation efforts.
Since the beginning of 2019, BacTech Environmental’s management has visited southern Ecuador’s Ponce Enriquez area to meet with small mine producers of arsenopyrite in the hopes of establishing a bioleach processing facility there. This would offer an alternative to small miners who presently must sell their concentrates to Asian buyers at severely reduced prices (often as low as 50 cents on the dollar given that arsenic levels regularly exceed 10% As).
BacTech Environmental has identified many small-scale gold mining operations within the Ponce Enriquez region that could potentially benefit from the Company’s proprietary bioleach process to economically remove unwanted arsenic from their gold production. Thus far, the Ecuadorian government is very pleased with the results from bioleach test programs on three different types of material and they are committed to supporting the idea of bringing bioleaching to the country for environmental cleanup purposes. Moreover, the combination of inexpensive energy, high grades of gold, favourable tax incentives, the elimination of transportation costs to Asia and the government export tax make the use of bioleaching in Ponce Enriquez extremely attractive for gold producers and BacTech Environmental.
As for the latest announcement, the areas where the gold concentrate samples were collected are known for their high levels of arsenic. BacTech Environmental is targeting concentrates with a cut-off grade of 40 grams per tonne and arsenic levels above 10%.
Ross Orr, President and CEO of BacTech, commented:
“This represents an important step to move the Ponce Enriquez bioleach gold project forward in Ecuador. We are very pleased that we were able to attract concentrate from various producers in our selected test areas, which demonstrates their willingness and desire to improve margins and to provide sound environmental solutions in a region that depends on mining to provide local jobs and economic well-being for its own people.”
In addition, BacTech Environmental also commented last week on a recent tailings burst in Ponce Enriquez. Approximately 50 tonnes of tailings material were released into the local Tenguel River after a containment wall of a local gold processing facility collapsed. Given the nature of the ore mined in Ponce Enriquez is heavily contaminated with arsenic, an unknown quantity of this was also released into the river. The Company is eager to bring assistance to such tailing issues in Ponce Enriquez in addition to safely processing concentrates from local mines.
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