EnviroLeach and Mineworx Provide Year End Corporate Update
VANCOUVER, B.C., Jan. 10, 2018 (GLOBE NEWSWIRE) -- EnviroLeach Technologies Inc. (the "Company" or "EnviroLeach"), (CSE:ETI) (OTCQB:EVLLF), in conjunction with Mineworx Technologies (“Mineworx”), (TSXV:MWX), (OTCQB:MWXRF), are pleased to provide the following corporate Year-End update on their activities.
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2017 was a pivotal year for both EnviroLeach and Mineworx. The companies successfully advanced their proven chemical formulas and mechanical processes with several additional proprietary and patent-pending breakthroughs. These new discoveries include significant enhancements to the proven EnviroLeach E-Waste process with respect to improved leach kinetics, improved recoveries, metal complex stability, element selectivity, metal precipitation and the reusability of the primary solution.
EnviroLeach will continue to investigate additional applications of its formula to enhance its future offerings. The Company plans to expand its reach into the recoveries of strategic metals including lithium and cobalt from lithium ion batteries and the recovery of select rare earth elements.
EnviroLeach and Mineworx completed a series of successful pilot scale tests throughout 2017 and completed the design and engineering and construction of the first production scale, 10 tonne per day E-Waste processing plant which was installed on-schedule and on-budget at the Memphis, Tennessee facility. Both EnviroLeach and MineWorx employees continue to work diligently at the Memphis location with full-scale trials expected to continue into late January 2018. The anticipated environmental footprint of this plant will be almost zero, with no water effluent, off-gassing or landfilled tailings. The plant will produce precious metals at a much-reduced carbon footprint to that of conventional mining.
About the E-Waste Management Sector
According to the Global E-Waste Monitor 2017, released by ITU, the UN University (UNU) and the International Solid Waste Association (ISWA), in 2016, 44.7 million metric tonnes of E-Waste were generated, an increase of 3.3 million metric tonnes, or 8 per cent, from 2014. Experts foresee e-waste increasing a further 17 per cent to 52.2 million metric tonnes by 2021. In 2016, only about 20 per cent, or 8.9 million metric tonnes, of all e-waste was recycled.
Low recycling rates can have a negative economic impact. In 2016, it was estimated that e-waste contained rich deposits of gold, silver, copper, platinum, palladium and other high value recoverable materials, whose total value is estimated at $65 billion, a figure exceeding the gross domestic product of many countries in the world.
Duane Nelson, EnviroLeach CEO, states, "According to Apple’s latest sustainability report, just 100,000 iPhone 6 devices contain, 1.3 kg Gold, 7 kg of silver, 0.4 kg platinum group metals, 550 kg cobalt and 800 kg of copper worth some $102,000 or approximately $7,900 per tonne. Compared to today’s conventional mining, where the world’s average current gold grade is worth some $43.00 per tonne, the financial metrics of urban-mining (E-Waste) are compelling." The Company also reports it has received inquiries from over 20 countries regarding potential partnerships on E-Waste processing plants world-wide.
About the Mining Sector
The hydrometallurgical extraction of gold from ores, concentrates, and tailings in a cost effective and environmentally safe manner offers an interesting challenge. Conventional gold mining operations rely heavily on cyanide leaching as the predominant method for recovering gold from ores and concentrates. Cyanide has been the leach reagent of choice in gold mining because of its high gold recoveries, robustness and relatively low cost.
A recent study by SME (Society for Mining, Metallurgy and Exploration) indicates that over 76% of gold is produced using cyanide extraction. The gold mining sector uses approximately 66,000 tons of sodium cyanide worldwide. Although cyanide has been safely used on hundreds of mines worldwide, both the use, disposal and social implications of cyanide present significant safety, permitting and environmental risks.
The EnviroLeach process provides a cost-effective alternative to cyanide offering similar or improved leach kinetics on most ores and concentrates (including ores that contain arsenic, copper, sulfides etc.). The reagent is environmentally-friendly, safe, stable, has a broad applicability spectrum making it an ideal alternative to cyanide in vat leaching operations worldwide.
The Company has completed thousands of tests and assays on a variety of ores, concentrates and tailings with very positive results and continues to work with select mining companies to advance the chemistry and processes within this sector. To-date, EnviroLeach and Mineworx have received inquiries from over 100 mining companies in over 20 countries worldwide.
About EnviroLeach Technologies Inc.
EnviroLeach Technologies is a technology company and near-term gold producer that is engaged in the development and commercialization of environmentally-friendly formulas and technologies for the treatment of materials in the mining and E-Waste sectors. Using its proprietary non-cyanide, water-based, near neutral pH treatment process, EnviroLeach extracts precious metals from ores, concentrates, and E-Waste using only FDA approved additives to ambient temperature water.
Backed by the momentum of a first-class staff of scientists and engineers, tens of thousands individual assays, independent validations and strategic partners, EnviroLeach’s technology will become the standard for the provision of eco-friendly methods for the hydrometallurgical extraction of precious metals in both the conventional mining and E-Waste sectors.
Further information is available on the EnviroLeach web site: https://enviroleach.com
About Mineworx
Mineworx is positioned for growth through partnerships with advanced mining and E-Waste opportunities utilizing the EnviroLeach precious metals extraction process and patent-pending portable extraction technologies. These innovations will increase and enhance business opportunities by deploying cost effective, environmentally friendly extractive metallurgy solutions.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information is available on the Mineworx web site: https://mineworx.net
Forward-Looking Statements
This News Release contains “forward-looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation. Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words “anticipates,” “believes,” “may,” “continues,” “estimates,” “expects,” and “will” and words of similar import, constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking information may include, but is not limited to, information with respect to our Research and Development activities, the accuracy of our capital and operating cost estimates; production and processing estimates; the results, the adequacy of EnviroLeach’s financial resources and timing of development of ongoing research and development projects, costs and timing of future revenues or profits and adequacy of financial resources. Wherever possible, words such as “plans”, “expects”, “projects”, “assumes”, “budget”, “strategy”, “scheduled”, “estimates”, “forecasts”, “anticipates”, “believes”, “intends”, “targets” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning future revenue or earnings estimates may also be deemed to constitute forward-looking information. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information. Forward-looking information is based on the expectations and opinions of EnviroLeach’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information. The CSE has not approved or disapproved of the information contained herein.
Contact Information:
EnviroLeach Technologies Inc.
Duane Nelson
President & CEO
info@EnviroLeach.com
Mineworx Technologies Ltd.
Rick Gliege, V.P. Corporate Development
250-751-3661
rick@mineworx.net