Begins Investigation in Ecuador for Bioleaching and
Mercury Elimination
Toronto, Canada -- October 17, 2016 -- InvestorsHub NewsWire --
BacTech Environmental Corporation (BacTech or the Company),
(CSE:
BAC,
OTC Pink: BCCEF) today provides a
corporate update on its activities in South America.
BacTech management completed a trip to Bolivia and Ecuador the week
of October 7th. In Bolivia, the Association Contract for the
development of the
remediation of tailings at Telamayu, Potosi, was signed between
Empresa Minera Ambiental BacTech S.A. ("EMABSA"), BacTechs 98%
owned Bolivian
subsidiary, and COMIBOL, the Bolivian state mining company, and was
approved by the Bolivian Government by Law N 831 dated September
15, 2016.
Management of BacTech met with the President of COMIBOL, Sr.
Marcelino Quispe and his advisors, in order to coordinate the
administrative aspects of the project. In attendance with BacTech
was a geologist from Bumigeme Inc., a Montreal based engineering
group who will be managing the process.
At the meeting, the President was informed that EMABSA will
contract with Leduc Drilling of Bolivia to conduct a drill program
on the Telamayu tailings. The program will see the drilling of 71
shallow drill holes, for a total volume of approximately 600
meters, using a Vibracore drill. It is anticipated that the drill
program will begin within the next 30 days.
The collected core samples from the drill program will be submitted
to assay laboratories in Oruro, Bolivia, and Canada. This will be
the underpinning of a
resource estimation following the guidelines established by
Canadian National Instrument 43-101 reporting. Once the drilling
program has been completed, the Company will immediately begin
metallurgical test work to determine the appropriate method for
metal recovery (see the Company`s previous press
releases). A complete NI 43-101 compliant Preliminary Economic
Assessment ("PEA") will then be completed.
In Ecuador, the Company began its investigation of the use of
bioleaching as an effective form of processing high arsenic/gold
concentrates. Several meetings were held with various interested
parties including government.
Presently, artisanal miners produce arsenopyrite ore that is sold
to flotation plants that operate in the Ponce Enriquez-San Gerardo
gold district of the Azuay Province. In the past, the high arsenic
(+8%) and high gold (+50 gpt) concentrates have been sold for
export to Asian interests at a reduced price,
given the difficulties of processing high arsenic values. Recently,
the government of Ecuador enacted stronger export regulations for
this material in order to
enforce environmental and operating rules with small miners.
BacTech believes that bioleaching can provide a made at home
solution that meets environmental rules and improves the legal
standing of the small miners of the area. The benefits can be
summarized as:
1. Provide a better price to the local floatation plants for their
product
2. Eliminate logistical costs for export of concentrate to Asia
3. Assist the Ecuadorian government in establishing legal
mining
amongst the artisanal miners
4. Provide increased skilled employment in Ecuador, replacing work
done
in Asia
5. Establish a new tax base for the government
A search has begun for an Ecuadorian partner with an established
presence in the market. This follows BacTechs policy of partnering
with local companies who have a much better understanding of the
local market. In Bolivia, BacTechs partner is COMIBOL, the state
mining company.
The first order of business is for BacTech to acquire a
representative sample (~250 kg) of concentrate for evaluation and
eventual bioleach test work. In the
event a bioleach plant is established in Ponce Enriquez, BacTech
will also investigate the possibility of reprocessing the numerous
existing tailings piles in
Ponce Enriquez that are causing damage to the local environment
through the release of mercury, arsenic and acid. The Company was
very encouraged about its ability to follow through on its goals in
Ecuador.
BacTech would like to confirm that Telamayu is the Companys best
option for achieving early cash flow and will be its primary focus.
In the interests of stability, the Company will continue to
evaluate potential projects that will be added to its pipeline
inventory. Recently, BacTech has visited projects in the western
United States at the request of their owners.
Company Profile
BacTech Environmental Corporation holds the perpetual, exclusive,
royalty-free rights to use the patented BACOX bioleaching
technology for the reclamation of tailings and mining waste
materials. The Company's principle focus is a highgrade
silver/copper tailings project called Telamayu, located in Atocha,
Bolivia, in association with COMIBOL, the state mining group. The
Company signed an MOU with Duran Ventures Inc. to explore the
viability of building a BACOX plant in Peru to treat high-grade
gold/arsenic ores. Investigation has begun to identify similar
opportunities in Ecuador. The Company continues to field enquiries
globally with respect to additional opportunities for remediation,
including licensing transactions for the technology.
For further information contact:
Ross Orr, President & CEO
BacTech Environmental Corporation: 416-813-0303 ext 222
Email: borr@bactechgreen.com
Bill Mitoulas, Investor Relations
416-479-9547
Email: billm@venturenorthcapital.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
by the use of 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
forwardlooking 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 as a result 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 51,618,944
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.
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