IML and Coronet Sign Definitive Processing AgreementIberian Minerals Completes Definitive Joint Processing Agreement on White Caps Tailings Project
Edmonton, Alberta, April 19, 2017 - Iberian Minerals Ltd. (the ``Company`` or “Iberian”) (TSXV: IML) (OTCQB: SLDRF) announces that its 100% wholly owned subsidiary, Mineworx Technologies (“Mineworx”) has signed a definitive Joint Venture Agreement (the “JV”) with Coronet Metals Inc. (TSXV: CRF) (“Coronet”) to process gold bearing historic tailings and mine dumps at Coronet’s White Caps Gold Project near the town of Manhattan in Northern Nye County, Nevada.
The binding LOI, announced by both companies on March 28, 2017, has been finalized into a definitive Joint Venture Agreement between the parties. Mineworx will be applying its license to utilize the EnviroLeach Technologies patent-pending, non-cyanide leach formula to process the estimated 250,000 tonnes of gold bearing tailings and dumps at the project. The Company is now proceeding with the next phase of the project towards pilot plant testing.