Nanostruck Signs Letter of Intent With TNM To Recover Gold and Silver
VANCOUVER, British Columbia--(BUSINESS WIRE)--NanoStruck Technologies Inc. (the “Company” or “NanoStruck”) (CSE:NSK) (OTCQX:NSKTF) (Frankfurt:8NSK) announces a non-binding Letter of Intent (“LOI”) signed with Tierra Nuevo Mining Ltd (TNM), a private exploration company with mining assets in Mexico BG Partners Corp., brought this business relationship to NanoStruck.
“This is a great opportunity for NanoStruck to demonstrate its technology and expertise in the mine tailings industry.”
The LOI is to explore the potential of TNM engaging NanoStruck to recover gold and silver from TMN’s tailings material using the NanoMet Technology at TNM’s Noche Buena Mine site, located in Zacatecas state, 10 kilometers northeast of Goldcorp’s Peñasquito Mine. The Noche Buena mine began operations sometime between 1926 and 1930 and was worked continuously until 1992 when it was shut down due to the collapse of metal prices.
Brian Mok, Senior Mining Consultant at BG Partners Corp. said: "This is a great opportunity for NanoStruck to demonstrate its technology and expertise in the mine tailings industry.”
Bundeep Singh Rangar, interim CEO and Chairman of the Board said: “A credible counter-party greatly accelerates the development and go-to-market strategy of our unique mine tailings processing technology.”
About the Company
NanoStruck Technologies Inc. is a Canadian Company with a suite of technologies that remove molecular sized particles using patented absorptive organic polymers. These versatile biomaterials are derived from crustacean shells or plant fibers, depending on requirements of their usage. Acting as molecular sponges, the nanometer-sized polymers are custom programmed to absorb specific particles for remediation or retrieval purposes. These could be used to clean out acids, hydrocarbons, pathogens, oils and toxins in water via its NanoPure solutions. Or to recover precious metal particles in mine tailings, such as gold, silver, platinum, palladium and rhodium using the Company’s NanoMet solutions.
By using patented modifications to conventional technologies and adding polymer-based nano-filtration, the Company’s offers environmentally safe NanoPure solutions for water purification. The Company uses Environmental Protection Agency (EPA) and World Health Organization (WHO) guidelines as a benchmark for water quality and safety to conform to acceptable agricultural or drinking water standards in jurisdictions where the technology is used.
Additionally, the Company’s technology can be used to recover precious and base metals from mine tailings, which are the residual material from earlier mining activities. By retrieving valuable metals from old tailing dumps, the Company’s NanoMet solutions boosts the value of existing mining assets and reduces the need for new, costly and potentially environmentally harmful exploration and mining.
The Company’s current business model is based on either selling water remediation plants or leasing out units and charging customers on a price per liter basis with a negotiated minimum payment per annum. For processing mine tailings, the value of precious metal recovered is shared with tailing site owners on a pre-agreed basis.
NEITHER THE CANADIAN NATIONAL STOCK EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER HAS REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Statements relating to "reserves" or "resources" are deemed to be forward-looking statements because they involve the implied assessment, based on certain estimates and assumptions that the resources and reserves described can be profitably produced in the future. Forward-looking statements in this press release include that TNM may engage NanoStruck to recover gold and silver from its tailing material at its Noche Buena mine.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s Management’s Discussion and Analysis for the years ended Sept. 30, 2013 and 2012 and filed on Jan. 29, 2014 under the Company’s profile on www.sedar.com.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.