Post by
Jsaw44 on Sep 29, 2021 12:39pm
Group 11 tedchnologies expects to have initial results in Q4
Brian Skanderbeg of GFG resources said that Group 11 should be posting results for their rattlesnake creek insitu gold mining project in Q4 2021. I heard this on the Ontario Mining Panel webinar hosted by 6ix. I believe this should be results for how well envirometal's iodide/iodate solution can disolve gold from previously collected core samples. They are experimenting with different concentrations of iodine/iodate and they are experimenting with different crushed sizes of rock from the core samples. There is a possibility that they will not need to crush the rocks to extract the gold which means that they will not need to use explosives to fracture the rock which will mean extremely low costs per an ounce of gold extracted
Envirometal owns 40% of Group 11 technologies
When they announced this partnership the stock shot up to $0.72 USD
Insitu mining maybe the next big thing in the gold mining industry. They do it for uranium and for copper already. They also did it for gold in Russia at one point, but they were using cyanide as a leeching agent. It worked, they got gold out of the ground, but they serverely affected the health of the local populations. Iodide/iodate is an FDA approved compound that is safe for human consumption.
Comment by
Jsaw44 on Oct 12, 2021 2:54pm
They definitely own 40% of Group 11 technologies. If group 11 has success on the rattle snake hills project, then GFG will get a small percentage of group 11 stock, roughly 10% if everything is a huge success, so that would give envirometal 36% ownership of a highly successful, innovative, disruptive gold mining company.