HALIFAX, Nova Scotia and VANCOUVER, British Columbia, Sept. 15, 2020 (GLOBE NEWSWIRE) -- Sixth Wave Innovations Inc. (CSE:SIXW) (OTCQB:ATURF) (FSE:AHUH) (“Sixth Wave”) and Rio2 Limited (“Rio2”) (TSXV:RIO) (OTCQX: RIOFF) (BVL: RIO) are pleased to announce that they have executed a non-binding Letter of Intent (“LOI”) for the trialing of Sixth Wave’s patented IXOS® purification polymer (the “IXOS® Mining Technology”) for Rio2’s Fenix Gold Project in Chile.
Under the terms of the LOI, Rio2 will send representative ore samples from its Fenix Gold Project to Sixth Wave for testing and analysis in its Salt Lake City facility. Sixth Wave will perform a combination of leaching and recovery tests using its IXOS® Mining Technology on these samples consistent with protocols for the expected heap leach mining activity planned for the Fenix Gold Project. Upon completion of the testing, to be performed in October of this year, and pending positive results, the two companies will work to negotiate a definitive agreement to proceed to a complete on-site pilot Adsorption/Desorption/Recovery (ADR) plant scaled to operate on a 400t pilot leach pad.
The objective of this work, from Rio2’s perspective, is to determine whether Sixth Wave’s IXOS® Mining Technology can be successfully applied to enhance the extraction of gold from Fenix Gold ore by using molecularly imprinted polymers rather than traditional carbon for the gold adsorption process. If successful, the application of the IXOS® Mining Technology is expected to result in a reduction of capex and opex related to the gold extraction process.
Upon successful completion and positive results of the pilot program, the companies would then move to an implementation phase incorporating the IXOS® Mining Technology in the actual processing plant to be constructed at the Fenix Gold Project.
“We are very excited about this project and working with Rio2. The IXOS® process should excel in comparison to traditional activated carbon because of the high rejection of base metal and scaling and the smaller process plant required for IXOS®. Substantially lower power consumption in the desorption and recovery stages and no need for regeneration will also play a large role in reduced opex,” noted Dr. Jon Gluckman, President and CEO of Sixth Wave Innovations Inc. He went on to say, “It is exciting to be involved with Rio2 at this phase of the Fenix Gold Project as it allows us the ability to optimize the design of the ADR circuit without having to worry about retrofit constraints.”
“Rio2 is always looking to embrace and trial new technology with the objective of bringing enhanced value to our stakeholders through the reduced capex/opex opportunities that innovative technologies can bring. The Fenix Gold Project is currently the largest undeveloped gold heap leach project in the Americas and we look forward to working alongside Sixth Wave during the development phase of the project,” stated Mr. Alex Black, President and CEO of Rio2 Limited.
About RIO2 Limited
Rio2 is a mining company with a focus on development and mining operations with a team that has proven technical skills as well as a successful capital markets track record. Rio2 is focused on taking its Fenix Gold Project in Chile to production in the shortest possible timeframe based on a staged development strategy. In addition to the Fenix Gold Project in development in Chile, Rio2 Limited continues to pursue additional strategic acquisitions where it can deploy its operational excellence and responsible mining practices to build a multi-asset, multi-jurisdiction, precious metals company focused in the Americas.
To learn more about Rio2 Limited, please visit: www.rio2.com or Rio2's SEDAR profile at www.sedar.com.
ON BEHALF OF THE BOARD OF RIO2 LIMITED
Alex Black
President, CEO & Director