TORONTO, May 08, 2024 (GLOBE NEWSWIRE) -- EnviroGold Global Limited (CSE: NVRO | OTCQB: ESGLF | FSE: YGK) (“EnviroGold,” or the “Company”), a technology company enabling the global mining industry to monetize valuable metals contained in mine waste and tailings, reduce environmental liabilities and improve social and environmental outcomes, is pleased to announce it has filed a new patent application (Australian Provisional Patent Application number AU2024901328) for an improved method of extraction of metals from refractory ores. This patent application, combined with the previously filed Application PCT AU2023/051121 for an improved process for recovery of refractory ores, completes the suite of intellectual property protection the Company requires for its NVRO Clean Leach Process.
The Company’s Chief Technology Officer, Mr. Brock Hill said, “This patent application follows an extended pilot study conducted at ALS Global’s Perth, Western Australia Metallurgical Facility in July 2023. The pilot study was designed to confirm process recoveries and identify any process challenges which could prevent the Company from moving to full scale commercial production. The results of this work have enabled the Company to significantly improve several components of the NVRO Clean Leach Process including improved catalyst recovery, lower operational cost, and increased recovery of gold & silver from refractory ores.”
CEO David Cam commented that “The patent filing builds on the previous patent application and together completes the intellectual property protection for the Company’s NVRO Clean Leach Process and gives our Company a first mover advantage in this exciting and growing market. The improvements also broaden the Company’s ability to reprocess other mine tailings and concentrates, enabling the Company to pursue reprocessing opportunities across a broader range of metals, including strategic metals and rare earth elements.”
The Company has 7 active projects representing a total of over 300 million tonnes of tailings, 5 of these projects are associated with major global mining companies.
Mr. Cam also confirmed earlier market guidance, that the Company has committed to build a centralized demonstration plant in Brisbane, Australia that will allow customers, including several of the world’s largest mining and mineral processing companies, to test the NVRO Clean Leach Process on tailings and smelter by-products. The modular plant will incorporate the component features protected by the current patent applications.
Further, the Company intends to commence an in depth valuation review to determine the commercial, social, and economic value drivers of the NVRO Clean Leach Process to mining and mineral processing companies worldwide. It is expected the results will illustrate the significance of economically recovering valuable metal entrained in mine waste and tailings and importantly, the additional value to our customers of the environmental remediation benefits derived by utilizing the NVRO Clean Leach Process. The results of this analysis will form the basis for upcoming commercial negotiations with the Company’s customers and strategic investors.
For more information on EnviroGold and its proprietary clean leaching technology, please visit www.envirogoldglobal.com.
About EnviroGold Global
EnviroGold Global is a technology company enabling the global mining industry to monetise valuable metals from mine waste and tailings and reduce environmental liabilities. EnviroGold’s proprietary technology is at the leading edge of a paradigm shift in global demand for precious and critical metals and greater social demand for better environmental outcomes. The Company operates on a technology license fee model with low capex requirements and intends to establish itself as a leading global technology company focussed on shareholder value.
Contact
Mr. David Cam, CEO
Telephone: +1 416 842 9003
Email: ir@EnviroGoldGlobal.com
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable securities laws, including, without limitation, earnings guidance, economic guidance, operational guidance and future capital spending amounts. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements pertaining to the use of funds from the Financing and the anticipated closing date of the Financing, and the Company’s ability to accelerate the world’s transition to a circular resource economy. Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to continue as a going concern; the continued commercial viability and growth in the clean technology and mining waste reprocessing industry; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; the continued development of clean technology and mining waste reprocessing technology; and the continued growth of the Company. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the Company’s inability to accelerate the world’s transition to a circular resource economy, the risks associated with assessing metallurgical recovery rates from mine tailings and waste and related volumetric assessments, the risks associated with the mining and mining waste recycling industry in general; increased competition in the clean technology and waste reprocessing market; the potential unviability of the clean technology and mining waste reprocessing market; incorrect assessment of the value and potential benefits of various transactions; risks associated with potential governmental and/or regulatory action with respect to clean technology and mining waste reprocessing; risks associated with a potential collapse in the value of clean technology and waste reprocessing; and risks relating to the Company’s potential inability to expand its reprocessing pipeline.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
