BacTech Ships Concentrate Samples for Assay Ranging from 20 to 60 Grams Gold per Tonne
Toronto, September 22, 2020 - BacTech Environmental Corp.("BacTech or the Company") (OTC:BCCEF) (CSE:BAC) (CNSX:BAC.CN) today provided the following update on its Ponce Enriquez, Ecuador project. As previously reported, a total of 6, 10-kilogram (22 lbs) concentrate samples were collected from 6 different processing plants around Ponce Enriquez. There are over 90 different processors in the area producing anywhere from 1 to over 20 tonnes per day of concentrate that contain high gold and arsenic values. The output is generated by both mine owners as well as small miners who deliver mineralized material for processing.
The gold grades of the 6 concentrate samples, as stated by the processors, ranged between 20 (.64 opt)and 60 (~2 opt) grams per tonne with arsenic values above 10% per tonne.
From the 6 collected concentrate samples, 3 arsenical refractory gold samples will be prepared and subjected to bioleaching and cyanidation testing. Two of the concentrate samples are Carbon-In-Pulp ("CIP") residues and the third is a blend of flotation concentrates that have not been previously contacted with cyanide. Regrinding and washing of the cyanide residues will be undertaken to remove traces of cyanates before bioleach testing and to avoid toxicity issues.
Given the presence of high levels of arsenic, the producers in Ponce Enriquez are subjected to a heavy discount in the prices they receive for their gold. A survey conducted by the Company would suggest that producers are paid approximately 65% of the gold value in the concentrate. The majority of the discounted high-grade gold/arsenic concentrates are bought by Asian smelters or roasters and shipped there for processing. For comparison, processors of oxide material in Peru pay roughly 90% of the contained gold value.
BacTech's plan is to build a 50 tpd bioleach plant capable of treating high gold/arsenic material in Ponce Enriquez. A 50 tpd plant, processing 1.5 ounces of gold per tonne of feed, would produce approximately 26,000 ounces per year. The plants are modular and can be expanded without affecting the ongoing production.
ABOUT BACTECH
BacTech is promoting the use of its proprietary bioleach processing technology to treat historic arsenopyrite concentrates and tailings produced in the Ponce Enriquez area of Southern Ecuador.
For further information contact: Ross Orr, President & CEO, BacTech Environmental Corp./ 416-813-0303 ext. 222, Cell 416-346-5529 and 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.
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