BacTech Releases Assays for Final 24 Holes
Toronto, Canada, June 27, 2017 – BacTech Environmental Corporation (“BacTech” or the “Company”), (CSE: BAC, OTC Pink: BCCEF) today announced the assays for the final 24 holes drilled in the Telamayu tailings in Bolivia. This completes the reporting for a total of 57 holes that were drilled.
On Friday June 23rd, silver closed at $16.68, tin at $8.73/lb and copper at $2.63/lb.
The metallurgical test work will now begin using the core material obtained from the drilling. The results will allow for engineering to define the appropriate methods for processing the tailings to recover the maximum amount of metal from the Antiguo tails. It is anticipated that a combination of gravity (Ag, Sn) and flotation (Ag, Cu), as well as copper cementation will be used for metal recovery. A National Instrument 43-101 report will be completed by Pierre O’Dowd using the information from the assays and metallurgical test work.
The results generated below show the variability of the tailings noting the higher copper results, lower tin assays and similar silver grades compared to the first 33 holes. As discussed previously, the deposition of the tailings material was influenced by the prices of the various metals at the given time. For example, you would expect to see higher tin grades when prices for tin were robust and reduced values when tin prices were uneconomic.
The holes were drilled vertically into the tailings with intervals of 1 meter to an average depth of 11.13 m per hole. Holes were implanted on a 20 m X 20 m spacing covering the entire Anitguo tailings. Samples consist of half NQ-sized diamond core that were split onsite, prepared at the Spectrolab laboratory, an ISO accredited laboratory at the Technical University of Oruro, Bolivia, and assayed for 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.
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 much of the larger Nuevo tailings (~3.5M tonnes) across the river. BacTech has an option with COMIBOL, the Bolivian state mining company, for reprocessing these tailings should they be economic to do so.
The Company continues to offer a 2 year, 12% debenture that includes a 20% common share stock bonus payment. The Company will offer this debenture under the above terms until $750,000 has been raised. The $750,000 should allow the Company to complete Phase 1 of the project which includes drilling, assaying, metallurgy, engineering and permitting. Interested investors can contact the Company to learn more about the debenture as an investment.
Pierre O’Dowd, a geologist and Qualified Person under NI 43-101, has visited the property and has read and approves this press release.
|Hole||From||To||Length (m)||% Recovery||Ag g/t||Sn %||Sol. Cu %||Cu Total %|
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.
Shares outstanding 60,762,930
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