TORONTO, ON. - TheNewswire - May 11, 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 provide an operations update following CEO Ross Orr's return from Ecuador and subsequent receipt of an ALS Laboratories progress report.
Recent Highlights:
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- Two potential Ponce Enriquez-area processing plant sites now identified: due diligence and negotiations underway
- Promising ALS bioleach interim test results show bacteria are resilient to high levels of arsenic
- Strong capital position achieved with recent warrants and options exercised
- Exceptional gold recoveries of 99.4% and 100% for prospective plant feeds validated (announced April 21, 2021) through ongoing ALS diagnostic test work
"Having my boots on the ground and spending the better part of last week connecting with miners, landowners, and government officials in Ponce Enriquez, I'm pleased to report that this project, along with many other aspects of our business, are all coming together in a rather significant way," said Ross Orr, CEO of BacTech Environmental. "Our treasury is healthy, our bioleaching technology continues to test and perform exceptionally well, and inbound interest in the Company has never been stronger. The ability to address present mining needs without compromising the needs of future generations is a message that resonates quite well with public and private companies, industry associations and government agencies throughout North and South America."
Ponce Enriquez Bioleaching Project Status
BacTech'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.
Concurrent with the diagnostic test work, the bioleach test work, indicating favourable results to-date, continues at ALS Labs in Perth under Dr. Paul Miller's guidance. The final results will provide input to the plant design criteria and expectations of process economics.
CEO Ross Orr and Bernardo Brito, BacTech's country manager in Ecuador, conducted recent Ponce Enriquez-area site visits to identify potential build locations. Plant requirements include access to power, clean water, and a tailings facility, leading the team to identify two locations of immediate interest. Site selection remains a Company priority, as timelines for the intended operation are largely driven by the permitting phase. The three approvals needed to establish the plant are a) the environmental permit, b) the water permit and c) Vice Ministry approval to operate a beneficiation plant.
Additional Ponce Enriquez milestones include:
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- Independent Feasibility Study (following bioleach work completion). Expected to commence this Summer, taking approximately three months
- Plant Financing will be finalized following the completion of the Feasibility Study. BacTech intends to review all funding options available to consider and maximize shareholder value
- Plant Design and Equipment Procurement will also be pursued following the Feasibility Study
- Plant Construction - target start in Q1 2022
Colombia Tailings Projects
BacTech is actively investigating a high-grade tailings project near Medellin, Colombia with Metaltec LLC. MetalTec, based in Naples, Florida, operates an alluvial mine in Colombia as well as brokering gold produced by small miners. BacTech and MetalTec LLC have agreed to conduct a third-party sampling program to get a better understanding of the grade as well as metal distribution in the tailings. Access to the country remains limited due to COVID-19 restrictions, but the Company intends to pursue this opportunity once it becomes safe and pandemic risks can be properly assessed and mitigated.
A second gold/silver tailings opportunity in Columbia has also now been identified. The common theme outside of gold/silver is arsenic - ideal for BacTech operations to take hold.
Brand and Business Development
The Company plans to further expand business development efforts as it ramps up operations in preparation for commercialization. BacTech expects to hire an experienced COO shortly to oversee the development of the Ecuador project, allowing greater flexibility for the CEO to widen, review and solidify additional business and revenue producing opportunities. BacTech will also be investing in a corporate communications upgrade and completing a website redesign to better respond to emerging market interests. A small example of a tailored approach that highlights the benefits of the Ponce Enriquez bioleach project and can be viewed here.
Qualified Person Statement
All technical information disclosed in this news release was approved by Gary Williams, MSc., P.Geo., who is a Qualified Person as defined by NI 43-101. He has reviewed and approved this news release.
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 in early discussions to build its new owner-operated bioleaching facility in Ponce Enriquez, Ecuador where arsenic is well-known to exist alongside gold mining and is investigating 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. 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,
Email: borr@bactechgreen.com
Website: www.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
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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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