BacTech Signs Engineering Firm to Begin Independent Feasibility Study for the Ponce Enriquez Project
Wednesday, July 28th, 2021
TORONTO, ON., July 28, 2021 – BacTech Environmental Corporation (OTC:BCCEF, CSE:BAC) (“BacTech” or the “Company”), a commercially proven environmental technology company delivering effective and eco-friendly biomining and remediation solutions, is pleased to announce it has engaged EPCM Consultores S.R.L. (“EPCMC”) to lead the feasibility study (FS) for the Company’s Ponce Enriquez, Ecuador bioleaching project.
EPCMC is a South American engineering and development firm specializing in mining and metallurgical projects. EPCMC has considerable experience in a range of professional engineering services including feasibility studies, project design and construction within South America and Europe, having delivered close to 50 major projects and working with various international mining companies including Orvana, Silver Standard, Aquila Resources and Yamana Gold.
The FS will consider the proposed environmental setting and entire project infrastructure, along with sample collection and final bioleach test work results, to produce conceptual plans and
estimates that encompass plant design, constructability, process economics expectations and scheduling. Final bioleach test results announced July 19, 2021, proved favourable, showing a range of 95.5% to 96.4% gold recovery on three arsenopyrite/pyrite concentrates.
This study is expected to be simplified by the fact that there are no mining requirements to consider. Upon completion, the FS will provide the company with the information required to make a definitive decision on the bioleach plant location – culminating with the final representation of the plant build and operational planning requirements.
“EPCMC comes highly recommended as a firm that is both experienced and familiar with the region’s operating landscape. We’ve made great headway in recent months, and we’ll continue to press forward and invest in skilled partners that deliver accelerated expertise to help confirm the economic potential of this project,” said Ross Orr, President and CEO of BacTech.
BacTech continues to evaluate potential sites for the proposed plant, considering items such as the location of natural resources, proximity to mine operations and status of local infrastructure. The Company will update the market in due course.
The Company also announces that it has hired Volt Strategic Partners Ltd. (“Volt Strategic”) as its capital markets and communications advisor. Volt Strategic is a market communications and capital advisory firm working with senior business leaders and innovators to help grow organizational value, build business, and accelerate market appreciation for emerging tech, sustainability, life sciences and promising natural resource public companies.
For its services, the Company has agreed to pay Volt Strategic an aggregate sum of $36,000 over six months, continuing on a month-to-month basis thereafter. The Company has granted Volt Strategic 500,000 stock options of the Company, exercisable for a period of two years at market price of $0.15 per share.
Ponce Enriquez Bioleaching Project
BacTech is planning to build its new owner-operated bioleaching facility in Ponce Enriquez, Ecuador, in a region where arsenic is well-known to exist in the gold ore. The Company’s plan is to build a 50 tpd bioleach plant capable of treating high gold/arsenic material. A 50 tpd plant, processing 1.5 ounces of gold per tonne of feed, similar to feeds available to the Company, would produce approximately 26,000 ounces per year. Plant designs are modular and can be expanded without affecting ongoing production.
BacTech continues to investigate the prospects of establishing additional modern mining operations across other areas of Ecuador, Peru, Colombia, and Central America. Where possible, the Company will partner with national and local governments, non-governmental organizations (NGOs), and others to assist with the funding of these projects.
This press release has been reviewed by Dr. Paul C. Miller Ph.D Chem. Eng. C.Eng. MIMM., considered a qualified expert for reporting purposes.
About BacTech Environmental Corporation
BacTech is a proven environmental technology company, delivering effective and eco-friendly biomining and remediation solutions to commercial operations to smartly process and recover preferred metals (gold, silver, cobalt, and copper) and safely remove and transform harmful contaminants like arsenic into benign EPA-approved products for landfill. Tapping into numerous environmental and economic advantages of its proprietary method of bioleaching, BacTech uses naturally occurring bacteria, harmless to both humans and the environment, to neutralize toxic mining sites with high-pay potential. BacTech is publicly traded on the CSE under the symbol “BAC” and on the OTC as “BCCEF”.
For further information contact:
President & CEO, BacTech Environmental Corporation
416-813-0303 ext. 222,
Investor Presentation: https://bactechgreen.com/investors/
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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.
Shares outstanding: 140,592,204
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This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the shares, nor is it a solicitation of interest from a prospective investor.
Additional Press Releases & News:
- BacTech Announces Successful TCLP Testing Results; Confirms Long-Term Environmental Stability of Ferric Arsenate Precipitate as Ecuador Gold Project Advances 30-08-21
- SolGold Ecuador Vice President and Government Relations Lead Andrew Taunton Joins BacTech as Strategic Advisor 19-08-21
- BacTech Adds Bioleaching and Mine Remediation Expert Dr. Nadia Mykytczuk to the Company’s Strategic Advisory Board 16-08-21
- BacTech Signs Engineering Firm to Begin Independent Feasibility Study for the Ponce Enriquez Project 28-07-21
- BacTech Moves Program Forward on Strong Gold Recovery Results from Commercial Bioleach Testing 19-07-21
- BacTech Initiates Search for Engineering Group to Conduct an Independent Feasibility Study on Proposed Bioleaching Facility in Ecuador 29-06-21
- BacTech Announces Bioleach Test Work Completion 24-06-21
- BacTech Environmental Provides Corporate Update 11-05-21
- BacTech Names Timothy Lewin New Chairman of the Board 29-04-21
- BacTech Signs Collaborative Agreement MOU to Provide Processing for African Concentrates 26-04-21
- BacTech Receives 99% Gold Recovery from Bioleach Test Work on Ecuador Feedstocks 21-04-21
- BacTech Closes Equity Financing 07-02-21
- BacTech Closes 2nd Round of Reg A Financing 02-02-21
- BacTech Environmental Announces Private Placement 21-01-21
- BacTech Announces MoU for Funding Ecuador Bioleach Plant 19-01-21