(via TheNewswire)
The funding will be used to help develop and complete pilot testing of BacTech’s novel bioleaching process relevant to the treatment of pyrrhotite to advance the recovery of Nickel and Cobalt battery metals. Pyrrhotite is a very volatile sulphide mineral containing nickel and cobalt values that oxidizes rapidly and produces large amounts of Iron and Sulphur components as by-products which are typically considered as wastes. Pyrrhotite tailings used in testing will be provided to MIRARCO by industry partner Vale.
Dr.
“Focusing on ‘Made in Canada’ scientific solutions for waste mine management makes sense, and bioleaching is well positioned to complement modern mining practices and help extract critical minerals from waste,” said Dr.
About
About the Tenguel –
BacTech is planning to build a new owner-operated bioleaching facility in Tenguel,
Key economic highlights, assuming a base gold price @
• Pre-tax NPV (Net Present Value with 5% discount rate) of
• Pre-tax IRR (Internal Rate of Return) of 57.9%
• Annual Gold Production of 30, 900 ounces
• Capital Cost of
• Bioleach Operating Cost of
• Pre-tax Earnings Prior to Employee Bonus –
• Estimated local employee bonus pool –
In total, there are over 100 small mines operating in the area. BacTech continues to investigate the prospects of establishing additional modern bioleaching facilities across other areas of
For further information contact:
President & CEO
416-813-0303 ext. 222,
borr@bactechgreen.com
Website: www.bactechgreen.com
Investor Presentation: www.bactechgreen.com/investors
Follow BacTech on:
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YouTube https://www.youtube.com/@bactechenvironmental
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 tobe 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.
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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Copyright (c) 2023 TheNewswire - All rights reserved., source