(TheNewswire)
TORONTO, ON – TheNewswire --January 16, 2024 – BacTech EnvironmentalCorporation (“ BacTech ” or the “ Company ”)(CSE: BAC) ( OTC: BCCEF)( FSE: 0BT1 ), a well-established environmentaltechnology company specializing in environmentally friendlybioleaching and remediation solutions for the recovery of preciousmetals and critical minerals, has issued a follow-up update from its December pressrelease on the pyrrhotite tailingsbioleach initiative in Sudbury, Canada. For a video summary oftoday’s news release, please click .
MIRARCO Mining Innovation led by Dr. Nadia Mykytczukhave commissioned the bioleaching cascade reactor circuit. The MIRARCObioleaching team, have completed 2 baseline campaigns to ensure thatinstrumentation, the solids suspensions, leaching kinetics, andsolid/liquid handling are operating as designed. Final refinements areunderway and full-scale campaigns will be possible in the comingweeks. Dr. Mykytczuk is a member of BacTech’s Strategic AdvisoryBoard.
As previously reported, BacTech is part of a consortiumaiming to provide innovative solutions for remediating 80-100 milliontonnes of pyrrhotite tailings deposited in and around Sudbury, Canada.Pyrrhotite (“Po”) is a highly reactive iron sulfide mineral thatreacts strongly when exposed to oxygen, releasing soluble acidic ironharmful to the environment. They also contain lower grade nickel andcobalt values.
In addition to conducting the bioleach test work forpyrrhotite, considerable thought will be directed at planning for boththe upstream (feed) and downstream process components. Up to 90% ofpyrrhotite is made up of iron (~55%) and sulphur (~35%). The focus ofthe test work will be to determine whether there exist formulationsfor both elements that could be commercially sold as a by-product toenhance the overall economics of the project.
Dr. Mykytczuk outlined “ Our team is excited to have thebioleaching piloting circuit up and running. We know that BacTech iseager to pilot their process. These multi-partner collaborativeprojects, like this one funded through a MICA grant and NOHFC grantsto MIRARCO, are not trivialundertakings, but we are confident that the test work will achieve anessential step to proving the viability of the technology .”
About the Tenguel – Ponce EnriquezBioleaching Project
BacTech plans to construct an owner-operatedbioleaching facility in Tenguel, Ecuador, a region known for itsassociation with arsenic in sulphide gold ore (Arsenopyrite). Thecompany intends to build a 50 tpd bioleach plant capable of treatinghigh gold/arsenic material. Such a plant, processing feed with 1.75ounces of gold per tonne, similar to what local miners provide, wouldyield approximately 31,000 ounces per year. The modular plant designsallow for expansion without disrupting ongoing production. BacTech has also signed an agreement with thegovernment for a Phase 2 plant that would add 150-200 tpd of capacity,producing more than 100,000 ounces per annum.
Key economic highlights, assuming a base gold price of$1,600 per ounce, include:
• Pre-tax NPV (Net Present Value with a 5% discountrate) of $60.7 million
• Pre-tax IRR (Internal Rate of Return) of 57.9%
• Annual Gold Production of 30,900 ounces • CapitalCost of $17.0 million
• Bioleach Operating Cost of $212 per tonne
• Pre-tax Earnings Prior to Employee Bonus – $10.9million annually
• Estimated local employee bonus pool – $1.64million
The area hosts over 100 small mines, and BacTech isactively exploring the possibility of establishing modern bioleachingfacilities in other regions of Ecuador, Peru, and Colombia. Thecompany aims to collaborate with national and local governments,non-governmental organizations (NGOs), and other stakeholders to fundthese projects and ensure adherence to high environmental and ESG(Environmental, Social, and Governance) standards.
About BacTech EnvironmentalCorporation
BacTech Environmental Corporation is a company thatspecializes in environmental technology. We use a process calledbioleaching to recover metals like gold, silver, cobalt, nickel, andcopper, while also safely removing harmful contaminants like arsenic.This process is eco-friendly and uses naturally occurring bacteriathat are safe for both humans and the environment. By using ourproprietary method of bioleaching, we can neutralize toxicconcentrates and tailings while also creating profitableopportunities. The company is publicly traded on several stockexchanges, including the CSE, OTCQB, and Frankfurt StockExchange.
For further information contact:
Ross Orr
President & CEO, BacTechEnvironmental Corporation
416-813-0303 ext. 222
Vimeo http://vimeo.com/bactechgreen
Special Note Regarding Forward-Looking Statements
This news release contains “forward-lookinginformation”, which may include, but is not limited to, statementswith respect to future tailings sites, sampling or otherinvestigations of tailing sites, the Company’s ability to make useof infrastructure around tailings sites or operating performance ofthe Company and its projects. Often, but not always, forward-lookingstatements can be identified using words such as “plans”,“expects”, “is expected”, “budget”, “scheduled”,“estimates”, “forecasts”, “intends”, “anticipates”, orbelieves” or variations (including negative variations) of suchwords and phrases, or state that certain actions, events or results“may”, “could”, “would”, “ might ” or “will” be taken, occuror be achieved. Forward-looking statements involve known and unknownrisks, uncertainties and other factors which may cause the actualresults, performance, or achievements of the Company to be materiallydifferent from any future results, performance or achievementsexpressed or implied by the forward-looking statements.Forward-looking statements contained herein are made as of the date ofthis news release and the Company disclaims, other than as required bylaw, any obligation to update any forward-looking statements whetherbecause of new information, results, future events, circumstances, orif management’s estimates or opinions should change, or otherwise.There can be no assurance that forward-looking statements will proveto be accurate, as actual results and future events could differmaterially from those anticipated in such statements. Accordingly, thereader is cautioned not to place undue reliance on forward-lookingstatements.
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