TORONTO, ON. - TheNewswire - November 1, 2021 – BacTech Environmental Corporation BCCEF BAC (FSE:0BT1) BAC ("BacTech or the Company"), a commercially proven environmental technology company delivering effective biomining metal recovery and eco-friendly remediation solutions, today announced that it has launched a new initiative to formally investigate bioleach project opportunities in Peru.
Similar to the start of the Company's current commercial interests in Ecuador, the Peruvian field study will commence with the identification of arsenopyrite producers who are looking to maximize returns for their concentrates, while discussing opportunities with other miners to expand into arsenopyrite production knowing that a safe and profitable processing solution to treat high arsenic concentrates in country is being considered.
There are many known arsenic gold mines in the area, and the consistent rumor that China started to impose arsenic importing restrictions this month has caused confusion in the marketplace, especially for those who produce high levels of arsenic alongside gold.
"China has historically been the dominant buyer of arsenopyrite concentrates in Ecuador, and these importing restrictions have BacTech well-positioned to capitalize on this windfall," said Ross Orr, President and CEO of BacTech Environmental. "We've heard that prices have dropped by as much as 20 per cent, which means local miners are getting less than 50 per cent of the gold value. BacTech will extend the same offer to Peru's artisanal mining community that it has in Ecuador -- safe, earth-friendly solutions at superior prices."
"We know the time required to identify potential sources, collect representative samples for bioleach test work, engage a third-party Feasibility Study and ultimately finalize plant construction. Our activity in Peru dovetails nicely with our project in Ecuador, which we believe will be processing ore in 2022," Orr continued.
To help manage the Peru market study, BacTech has engaged the services of Oscar A. Alvarado Sr. Mr. Alvarado is a professional mining executive and senior technical advisor to several international companies. With an MBA and MSc in Mineral Economics and over 40 years of global experience, his career encompasses exploration, mining, processing, smelting/refining, business development and marketing for base metals and precious metal operations. He was part of the Noranda executive team that acquired and developed the $2.4B Antamina project in Peru in 1996 and his international experience spans work with Noranda, Placer Dome, Brunswick Mining, BHP, WMC, Kazakahmys, Hochschild, Vedanta and IFC among other large mining/smelting companies.
Acquiring an existing flotation plant to accept ore from miners or buying concentrates directly from the mines are all options to be explored. Given the fact Trujillo has a port, a bio-oxidation plant situated in this vicinity to capture material headed there for processing would also be considered. BacTech believes a plant would support local economic development with the benefit of knowing that arsenic associated with gold production in the area would be dealt with in a sustainable manner.
BacTech continues to investigate the prospects of establishing our proprietary bioleaching facilities 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.
About the Ponce Enriquez Bioleaching Project
BacTech is planning to build a new owner-operated bioleaching facility in Ponce Enriquez, Ecuador, in a region where arsenic is associated with gold ore (Arsenopyrite). The Company's plan is to build a 50 tpd bioleach plant capable of treating high gold/arsenic material. A 50 tpd plant, processing 1.5 ounces of gold per tonne of feed, similar to feeds available to the Company, 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.
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 is publicly traded on the CSE under the symbol "BAC" and on the OTC as "BCCEF".
For further information contact:
Ross Orr
President & CEO, BacTech Environmental Corporation
416-813-0303 ext. 222
Follow us on:
Facebook http://www.facebook.com/BacTechGreen
Twitter http://twitter.com/BacTechGreen
LinkedIn http://www.linkedin.com/company/1613873
Vimeo http://vimeo.com/bactechgreen
YouTube http://www.youtube.com/user/bactechgreen
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: 144,654,704
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.
Copyright (c) 2021 TheNewswire - All rights reserved.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
