don't know how many people here have BAC Bactech Environmental but here is the good news.
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News Releases - Wednesday, April 27, 2011
Title: BacTech Awarded Contract to Clean Up Snow Lake Arsenopyrite Stockpile
Toronto,Canada, April 27, 2011 - BacTech Environmental Corporation("BacTech" orthe "Company", CNSX: BAC) today announced that it has beenawarded thecontract by the Mines Branch of the Manitoba Department ofInnovation,Energy and Mines, to remediate a stockpile of arsenopyriteconcentratelocated in the community of Snow Lake. The contract issubject tonegotiating a suitable agreement between BacTech and theManitoba
government.BacTech has proposed a "no cost to the taxpayer"approach to the cleanup. The Company will recover payable metals forits own account from thestockpile while treating the contained arsenic.The Company'sbio-oxidation technology has been used successfully inthe gold industryfor many years to aid the extraction of gold fromarsenical concentrates,while stabilizing arsenic values into a benignform.
BacTechresponded to a Request for Proposal issued by the Mines BranchonDecember 21, 2010. BacTech's interest in the project stems from testworkcompleted in 2010 whereby bioleaching technology was determined tobewell suited for the stabilization of the high levels of arsenic inthestockpile.
This will be the first commercial bioleach facility inNorth America.Ross Orr, President & CEO, said, "This is a majorstep forward forBacTech as we position ourselves as a
leaderin the field of tailingsreclamation. It is a highly visible projectwhose success could lead tobioleaching playing a prominent role infuture clean ups in North andSouth America."
History
TheSnow Lake stockpile was created in the 1950s as a by-product ofgoldproduction from the Nor Acme Mine. Due to the refractory nature oftheore and its high arsenic levels, it was decided at that time toproducean arsenopyrite concentrate which was subjected to cyanidationtorecover exposed gold values, leaving behind a residue whichcontainedsignificant gold values that would be processed at a laterdate. Basedon historic data provided by the Manitoba Mines Branch inthe Requestfor Proposal, the stockpile is estimated at approximately250,000 tonneswith an average grade of approximately 9 grams per tonneof gold. Thestockpile is 6 m to 10 m high and encompasses anapproximate area of19,500 m2. BacTech cautions the reader that thepotential quantity andgrade provided above is conceptual in nature.Insufficient test workhas been carried out on the stockpile to define amineral resource. Itis uncertain if the test work to be conducted byBacTech will result inthe stockpile being delineated as a mineralresource.
Work Program
BacTech hasengaged the services of Dr. Barbara Sherriff, a recentlyretiredprofessor from the University of Manitoba who has a fifteen-yearhistoryevaluating the stockpile. Dr. Sherriff will oversee the drillprogramslated to begin on May 9th. The program will obtainrepresentativesamples from some 30 holes to be drilled on thestockpile. These sampleswill be subjected to diagnostic and bioleachtesting to determine theappropriate approach for treating theconcentrate.
AlexisMinerals Corporation, the mine leaseholder, has granted BacTechaccess tothe site so that samples can be obtained for test work. Thebioleachingtest work will be completed later this year. Anenvironmental baselinestudy will begin shortly which will takeapproximately one year tocomplete.
The anticipated life of the project, beginning withthe onset ofprocessing concentrates, will be approximately 6-7 years.Engineeringdesign for the plant and operations will be carried outconcurrentlywith the work program described above. The currentanticipated startdate for the construction of the plant will be thesummer of 2012.
Conceptually, the plant may also have value inbeing capable of treatingother refractory type gold values and waste inthe region, and effortsto incorporate this concept may be made at thedesign stage. If theconcept is incorporated as part of the project planthen, clearly, thisadds additional value to the project in creating aregional bioleachfacility for treating other materials.
Special Note Regarding Forward-Looking Statements:Certainstatements included or incorporated by reference in this newsrelease,including information as to the future financial oroperatingperformance of the Company, its subsidiaries and itsprojects,constitute forward-looking statements. The words "believe,""expect,""anticipate," "contemplate," "target," "plan," "intends,""continue,""budget," "estimate," "may," "schedule" and similarexpressions identifyforward-looking statements. Forward-lookingstatements include, amongother things, statements regarding targets,estimates and assumptions inrespect of gold production and prices,operating costs, results andcapital expenditures, mineral reserves andmineral resources andanticipated grades and recovery rates.Forward-looking statements arenecessarily based upon a number ofestimates and assumptions that, whileconsidered reasonable by theCompany, are inherently subject tosignificant business, economic,competitive, political and socialuncertainties and contingencies. Manyfactors could cause the Company'sactual results to differ materiallyfrom those expressed or implied inany forward-looking statements madeby, or on behalf of, the Company.Investors are cautioned thatforward-looking statements are notguarantees of future performance and,accordingly, investors arecautioned not to put undue reliance onforward-looking statements due tothe inherent uncertainty therein.Forward-looking statements are madeas of the date of this press releaseand the Company disclaims anyintent or obligation to update publiclysuch forward-looking statements,whether as a result of new information,future events or results orotherwise.
BacTech Environmental profile
BacTechEnvironmental Corporation was created through a Plan ofArrangementcompleted on December 2, 2010, whereby shareholders of theformer BacTechMining Corporation ("BMC"), renamed REBgold Corporation,were issued, inexchange for their BMC shares, 1 share of REBgoldCorporation and 1/5thof one share of BacTech Environmental. BacTechEnvironmental holds theexclusive rights to use the patented BACOXbioleaching technology forreclamation of tailings and mining wastematerials.
For further information contact:
Ross Orr, President & CEO: 416-813-0303 ext 222
Email:
info@bactechgreen.com
Shares outstanding 33,303,361
TheCanadian National Stock Exchange (CNSX) has not reviewed anddoes notaccept responsibility for the adequacy or the accuracy of thecontents ofthis release.
Copyright © 2011 BACTECH ENVIRONMENTAL CORPORATION (CNSX: BAC) All rights reserved. For more information visit our website at
" href="https://www.bactechgreen.com/">https://www.bactechgreen.com/or send email to
info@bactechgreen.com.
Message sent on Wed Apr 27, 2011 at 7:38:31 AM Pacific Ti