Toronto, Canada, March 1, 2012 – BacTech Environmental Corporation (“BacTech” or the “Company”, CNSX: BAC, WKN: A1H4TY) today announced that it has completed the bioleach phase of testing of the Snow Lake concentrates. The test work has been ongoing for the past five months.
BacTech has requested that its third party contractor, Inspectorate Explorations & Mining Services Ltd. (“Inspectorate’) of Vancouver, now subject the oxidized material to treatment with cyanide to determine the ultimate recovery of gold from the samples with final recovery results to be announced in approximately 2-3 weeks time. The final oxidation percentage of the contained sulphides will also be announced. The sulphides are the base cause of the acid rock drainage that has been seeping from the stockpile.
In January 2012, BacTech was in Snow Lake to conduct a public consultation with the citizens of the community. Ross Orr, President and CEO provided an overview of the proposed project followed by a technical presentation by Dr. Paul Miller. Also in attendance were Mary Ann Mihychuk, Director of BacTech, Dave Salari, COO of BacTech and a representative of Newalta Corporation. A healthy and positive question and answer session followed the formal presentation.
Following the meeting, an alternate site for the proposed Snow Lake plant was identified that will lead to a significant reduction in the costs associated with material handling for delivery of material to the plant for processing. The acquisition of the proposed property is underway.
The proposed bioleach plant in Snow Lake will be able to take advantage of some of the lowest power prices in North America. Power is one of the leading costs for bioleaching and fortunately, Manitoba’s hydropower provides very low rates and is from a green source.
Work continues with respect to Micon and the Economic Study. The study is expected to be completed in April.
Please click on the link below to view BacTech’s “What is Bioleaching?” video.
BacTech Environmental holds the exclusive, royalty-free rights to use the patented BACOX bioleaching technology for the reclamation of tailings and mining waste materials. On December 13, 2011, BacTech signed a contract with the Mines Branch of the Manitoba Department of Innovation, Energy and Mines, to remediate an arsenopyrite gold stockpile situated at the Snow Lake Mine in Snow Lake, Manitoba. This is the Company’s first project since the Plan of Arrangement was completed on December 2, 2010.
For further information contact:
Ross Orr, President & CEO: 416-813-0303 ext 222
Bill Mitoulas, Investor Relations: 416-479-9547
The Canadian National Stock Exchange (CNSX) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.