Toronto, CA -- January 29, 2018 -- InvestorsHub NewsWire
-- BacTech Environmental Corporation (“BacTech” or the
“Company”), (CSE: BAC, OTCBB: BCCEF) today announced
that it has signed a Letter of Intent (“LOI”) with Blockmine
Development Inc. (“BDM”) a company focused on introducing
blockchain technology into the mining industry. Both parties will
investigate the use of blockchain technology to provide
verification of the production of environmentally beneficial
metals.
Third party verification is needed to audit the process for
producing what is referred to as “green metals”. Much like the
introduction of branding for clean diamonds (ie not “blood
diamonds”) buyers need to have verification that what they are
purchasing and reselling falls into acceptable standards that have
been set by the industry. With this in mind BacTech and BDM would
hope to develop a process that verifies that each step of the
retreatment of tailings illustrates what is happening in real time.
The resulting recovered metals can then be marketed as
environmentally beneficial metals. In other words, metals that
benefit the environment as well as those that benefit the
shareholders of BacTech.
“It has always been our intention to market recovered metal as a
“green” product. The blockchain process will help us deliver on
this intent through validation of the various steps needed to
produce copper and silver. Ideally, a partnership with a jeweller
for the silver production would be beneficial to both parties and
we intend to pursue a partner with this in mind”, said Ross Orr,
President and CEO of BacTech.
“I am pleased that BacTech Environmental has chosen to work with
Blockmine Development for their blockchain needs. Recycling and
remediation have a bright future in the mining industry, and
BacTech Environmental is leading the way. With the “green
movement”, I foresee a huge demand for this type of mineral
recovery in the future, and I can even see the markets wanting to
place a premium on this type of environmentally beneficial ore.
Blockchain technology can prove to be very valuable for this
environmentally beneficial process.”, Brent Rouble, President of
Blockmine Development Inc.
Project Overview
The Telamayu project involves the environmental remediation of
the “Antiguo” tailings and a Company option on the larger “Nuevo”
tailings, both situated at the Telamayu mill site near the town of
Atocha in the Department of Potosi in Bolivia. As part of the
remediation process BacTech will recover silver, tin, and copper
utilizing a conventional processing technology.
The existing Telamayu mill concentrator has generated the
Antiguo and Nuevo tailings by processing mineralized material from
the surrounding mines for over 80 years. There is considerable
infrastructure at the mill site including high voltage power, rail,
mill housing, and a local workforce. The current infrastructure
will contribute to a reduction in capital costs of the project.
Currently metallurgical test work is underway to determine the
percentage of metal to be recoverable.
In addition, bioleach test work on concentrates and tailings
material from the Ponce Enriques area of southern Ecuador continues
at Laurentian University in Sudbury, Canada.
For further information contact: Ross Orr, President & CEO
BacTech Environmental Corporation/ 416-813-0303 ext. 222 Email:
borr@bactechgreen.com
Lalli Marrato, Investor Relations: 647-669-7646, Email: lalli@frontiermcg.com
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Special Note Regarding Forward-Looking Statements
This news release contains “forward-looking information”, which
may include, but is not limited to, statements with respect to
future tailings sites, sampling or other investigations of tailing
sites, the Company’s ability to make use of infrastructure around
tailings sites or operating performance of the Company and its
projects. Often, but not always, forward-looking statements can be
identified using words such as “plans”, “expects”, “is expected”,
“budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates”, or believes” or variations (including negative
variations) of such words and phrases, or state that certain
actions, events or results “may”, “could”, “would”, “might” or
“will” be taken, occur or be achieved. Forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Forward-looking statements contained
herein are made as of the date of this news release and the Company
disclaims, other than as required by law, any obligation to update
any forward-looking statements whether because of new information,
results, future events, circumstances, or if management’s estimates
or opinions should change, or otherwise. There can be no assurance
that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, the reader is
cautioned not to place undue reliance on forward-looking
statements.
Shares outstanding 69,302,930
The Canadian Securities Exchange (CSE) has not reviewed and does
not accept responsibility for the adequacy or the accuracy of the
contents of this release.
Read more at
http://www.stockhouse.com/news/press-releases/2018/01/29/bactech-signs-blockchain-loi-for-green-metal-production#GEHeKE3hQZERSyHD.99