BacTech Awarded OCE Grant in Support of Arsenic Research
2.5.2017 20:01 | NASDAQ OMX
TORONTO, May 02, 2017 (GLOBE NEWSWIRE) -- BacTech Environmental Corporation ("BacTech" or the "Company"), (CSE:BAC) (OTC Pink:BCCEF) is pleased to announce that their joint application with Laurentian University to Ontario Centres of Excellence ("OCE") has been approved for $75,000 through OCE's Voucher for Innovation and Productivity II ("VIP II"), offered on behalf of the Province of Ontario. These funds are to be leveraged against contributions from BacTech Environmental Corporation in the amounts of $37,500 cash and $37,500 in-kind.
All OCE program funding is discretionary and awarded based on a highly competitive process that attracts many applications. Eligible applications are reviewed on their merit and assessed against OCE objectives and assessment criteria. Given the limited funding available, only projects that attain the highest recommendations and demonstrate the greatest likelihood of meeting program objectives are awarded funding.
"We are pleased to be part of a unique collaboration that we hope will lead to great advances in dealing with arsenic issues in mining. Given the amount of arsenic that is released globally through mining, both primary and artisanal, any advancements in this area should be welcomed," said Ross Orr, President and CEO of BacTech.
The purpose of the funding is to test bioleaching against very high arsenic concentrates (+10%) that are becoming more prevalent, not only in Canada, but also in numerous South American countries. BacTech is interested in applying bioleaching as a process technology to treat high grade gold/arsenic concentrates being produced in Ponce Enriquez, Ecuador. Presently, these concentrates are being sold overseas and include penalties for high levels of arsenic. BacTech proposes a "made at home" solution whereby concentrates produced in Ponce Enrique will be processed locally using BacTech BACOX technology. It is hoped that the introduction of a bioleach circuit would lead to lower levels of mercury use, as well as reduced discharges of arsenic into the local environment.
A 300-kg sample of arsenopyrite concentrate will be purchased shortly from the local flotation plants in Ponce Enriquez. This material will then be shipped to Laurentian University in Sudbury, Canada for 5-6 months of bioleach test work. The results of the test work will form the basis of the plant design for the proposed bioleach plant. Laurentian University partner, Dr. Nadia Mykytczuk, is thrilled to have the funding to advance the use of genomic tools and selective microbial culturing to help optimize the BACOX process. The cultures, which are isolated from various mine sites, including Sudbury, Ontario, are going to be used in the trials.
"We are very pleased to be able to support this impressive company," says Dr. Tom Corr, President and CEO of Ontario Centres of Excellence. "This is a technological approach with the potential for widespread application and the ability to solve a serious problem."
This OCE funded project will not only help advance the Ecuador work, but will also help advance the technology and potential application for re-processing various mine wastes in Ontario and elsewhere.
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.
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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
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
For further information contact:
Ross Orr, President & CEO
BacTech Environmental Corporation: 416-813-0303 ext 222
Bill Mitoulas, Investor Relations
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BacTech Environmental Corporation via Globenewswire
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