TORONTO, ON – TheNewswire - June 29, 2021 – BacTech Environmental Corporation BCCEF, BAC, BAC ("BacTech" or the "Company"), a commercially proven environmental technology company delivering effective and eco-friendly biomining and remediation solutions, is pleased to announce that the Company is now evaluating potential engineering companies to conduct an independent Feasibility Study (FS) for the Company's Ponce Enriquez Bioleaching Project.
The FS will consider sample collection and final test work results to produce detailed plans and estimates that encompass plant design, constructability, and scheduling. The study will be used to guide production decisions, financing considerations, and permitting activities – all culminating with the final representation of the plant build and operational planning requirements.
The FS will provide input to the plant design criteria and expectations of process economics. The Company has a shortlist of sites and is working towards agreements that would allow BacTech to perform the necessary geotechnical evaluations to ensure suitability. No offers have been made at this stage.
"I'm pleased to report this important step, as an independent Feasibility Study is what essentially guides a concept down the path to completion," said Ross Orr, CEO of BacTech Environmental. "We're looking for a strong metallurgical mining engineering group that knows design, logistics and infrastructure, but also understands the significance of the environmental standards that we're building our business around. We remain on track, and we intend to retain a firm that knows South America and prioritizes both economics and expediency."
Finally, BacTech is pleased to announce that a new version of the Company's website is now live. The site will continue to operate using the same URL, https://bactechgreen.com/
About BacTech Environmental Corporation
BacTech is a proven environmental technology company, delivering effective and eco-friendly biomining and remediation solutions to commercial operations to smartly process and recover preferred metals (gold, silver, cobalt, and copper) and safely remove and transform harmful contaminants like arsenic into benign EPA-approved products for landfill. Tapping into numerous environmental and economic advantages of its proprietary method of bioleaching, BacTech uses naturally occurring bacteria, harmless to both humans and the environment, to neutralize toxic mining sites with high-pay potential. BacTech believes that the combination of heightened environmental awareness and strong gold prices suggest that the time has come for this project. BacTech is publicly traded on the CSE under the symbol "BAC" and on the OTC as "BCCEF".
Ponce Enriquez Bioleaching Project
BacTech is pursuing a new owner-operated bioleaching facility in Ponce Enriquez, Ecuador where arsenic is well-known to exist alongside gold mining. The Company's plan is to build a 50 tpd bioleach plant capable of treating high gold/arsenic material in Ponce Enriquez, Ecuador. A 50 tpd plant, processing 1.5 ounces of gold per tonne of feed, would produce approximately 26,000 ounces per year. Plant designs are modular and can be expanded without affecting ongoing production.
BacTech continues to investigate the prospects of establishing additional modern mining operations across other areas of Ecuador, Peru, Colombia, and Central America. Where possible, the Company will partner with national and local governments, non-governmental organizations (NGOs), and others to assist with the funding of these projects.
For further information contact:
Ross Orr,
President & CEO, BacTech Environmental Corporation
416-813-0303 ext. 222,
Email: borr@bactechgreen.com
Website: https://bactechgreen.com/
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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: 138,112,204
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the shares, nor is it a solicitation of interest from a prospective investor.
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