TORONTO, CANADA — (Marketwire) — 08/01/12 — BacTech Environmental Corporation (“BEC” or the “Company”) (CNSX: BAC)(OTC: BCCEF) (WKN: A1H4TY) today announced the assay results of the composite sample taken in May of this year from stored samples from the former mill of Telamayu. The Telamayu tailing site is 1 of 26 sites identified by the Bolivian government for remediation, and the Bolivian government advised the Company it is the only one, to date, to have had a systematic sampling program.
Silver and copper values were 282 g/t and 1.7% respectively, illustrating the high-grade nature of the tailings. This compares favorably with COMIBOL–s results from 2005, having reported 258 g/t Ag and 1.05% Cu. COMIBOL is the Corporacion Minera de Bolivia, the state-owned mining company of Bolivia. In addition, sulphide values were over 5%, which would be responsible for the acid drainage coming from the tailings.
The assay work on the composite sample was conducted by Inspectorate Exploration and Mining Services Ltd. (“Inspectorate”), in Vancouver, Canada. The composite sample was taken from over 2,000 bags of samples collected in 2005 by COMIBOL. The COMIBOL sampling program, included five 2-meter by 2-meter wells that were hand dug from surface to depths ranging from 8 to 10 meters. The sample material obtained by COMIBOL was bagged at 1-meter intervals and stored in the old flotation building. The composite sample was bagged, sealed at the Telamayu mill and then shipped to Lima, Peru by SGS Bolivia S.A. (“SGS”), and subsequently transferred to Inspectorate for assaying. A representative of SGS supervised this sampling program. The Company has not investigated or verified the sampling program conducted by, or the assay results produced by, COMIBOL.
COMIBOL advised that the tailings were generated by a centralized milling operation that treated material from 2 local mines, namely Animas and Seven Suyos. At a site visit in February 2012 by Ross Orr, President of the Company, he observed that there is still infrastructure at Telamayu, including an operating rail line, a power substation, a reliable water source and a plant housing that could possibly be used to house flotation circuits.
COMIBOL has estimated that there are approximately 2.3M tonnes of tailings attributable to the above assay results, and across the river is an additional 3M tonnes of tailings from the same source, but no work has been initiated there at this time. In addition, there are 2 additional tailings sites within 50 km that could be investigated in future.
BacTech will now conduct metallurgical testing to determine the process for the recoveries of silver and copper. If an acceptable flotation concentrate can be generated, it would then be subjected to bioleach test work to address the refractory nature of the material.
This news release has been reviewed by MaryAnn Mihychuk, P. Geo., a Qualified Person as defined by National Instrument 43-101. Ms. Mihychuk is the Vice President of Operations of BacTech Manitoba Corp., a wholly owned subsidiary of the Company.
BacTech profile
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. In November 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. The Company continues to field enquiries globally with respect to additional opportunities for remediation.
Follow us on:
Youtube
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 39,088,361
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.
Contacts:
BacTech Environmental Corporation
Ross Orr
President & CEO
416-813-0303 ext 222
BacTech Environmental Corporation
Bill Mitoulas
Investor Relations
416-479-9547