Averages 12 oz/t Silver and 1.71% Tin Over 10 Meters
Toronto, Canada, May 8, 2017 – BacTech Environmental Corporation (“BacTech” or the “Company”), (CSE: BAC, OTC Pink: BCCEF) today announced assays for an additional 10 holes drilled at the Telamayu, Bolivia tailings project. 60 holes were drilled in total. Additional results will be released as they become available.
Highlights of the latest analyses include continued strong silver and tin results, as presented in the following table.
|Hole||From||To||Length (m)||% Recovery||Ag g/t||Sn %||Sol. Cu %||Cu Total %|
*Lengths indicated are true widths
On Friday, May 5, silver closed at $16.31/oz, tin closed at $19,800 per tonne, and copper closed at $2.52/lb.
The holes were drilled vertically into the tailings with intervals of 1 meter to an average depth of 10 meters per hole. Holes were implanted on a grid 20 m X 20 m covering the entire Antiguo tailings. Samples consist of half NQ-size diamond core that are split on site, prepared at the Spectrolab laboratory, an ISO accredited laboratory at the Technical University of Oruro, Bolivia and assayed for gold, silver, tin and copper by fire assay for silver and by Atomic absorption or total fusion for the base metals.
The QA-QC program of the Company includes one blank, one duplicate and 2 certified standards in each hole (some minor exceptions). The remaining half core is retained onsite for verification and reference purposes.
The sampling results from this drill program 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. A complete NI 43-101 Preliminary Economic Assessment (“PEA”) will then be completed.
Telamayu is an historic mill town situated next to Atocha, Bolivia. Over the past 80 years, the mill has treated material from 2 local mines (Tasna and Animas). The tailings from the mill make up the Antiguo tailings, the subject of these assays, and the much larger Nuevo tailings. BacTech has an option with COMIBOL, the Bolivian state mining company, for reprocessing these tailings. Previously, COMIBOL engaged individuals to dig test holes on the tailings (five wells of 1.5mx1.5mx10m) with bulk samples taken every meter, as well as channel samples.
The Company also reports that it expects to close the 2nd tranche of the current debenture financing this week. The Company is offering a 2 year, 12% debenture that also includes a 20% common stock bonus payment. Originally slated to raise up to $250,000, the Company announced previously that it would increase the amount should demand be present. At this stage, BacTech has received commitments that exceed $250,000 and will close an amount higher than the original plan.
Pierre O’Dowd, a geologist and Qualified Person under NI 43-101, who has visited the property, has read and approved this release.
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 principal focus is a high-grade silver/copper/tin tailings project called Telamayu, located in Atocha, Bolivia, in association with COMIBOL, the state mining group. Investigation has begun to identify opportunities in Ecuador where mercury and arsenic issues caused by artisanal mining leads to environmental degradation. 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
Bill Mitoulas, Investor Relations
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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 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 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.
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