NanoStruck Announces 96% Recovery of 9.1 GMS/Ton Gold from Tailing Samples
VANCOUVER, British Columbia--(BUSINESS WIRE)--NanoStruck Technologies Inc. (the “Company” or “NanoStruck”) (CSE:NSK) (OTCQX:NSKTF) (Frankfurt:8NSK) announces testing of its mine tailings treatment techniques and preliminary results showing recovery rates of gold from mine tailings to be much higher than expected by industry observers. NanoStruck’s techniques involve nanotechnology and industrial collaboration for specific innovative milling, pryometallurgy and hydrometallurgy processes combined with proprietary organic compounds.
“We are very excited to announce these tremendously high recovery rates, involving non-cyanide hydrometallurgy and nanotechnology based processes, that could be transformative for the mining industry.”
Tests completed over the past three months indicate that the Nanostruck techniques can recover as much as 96% of 9.1 grams per metric ton, or 0.32 ounces per ton, of gold contained in representative gold tailings samples. The testing involved careful roasting of tailings in laboratories. When the Nanostruck techniques were applied to tailings that had been previously roasted at the source site, the recovery rate was 88%, multi-fold higher than previous attempts by other companies using alternative technologies such as cyanide leaching. From the same already roasted sample, for example, conventional Carbon In Leach (CIL) processes had resulted in less than 10 percent recovery of gold. The volume of tailings at the source site, which is owned by an unrelated third party, is estimated to be between 450,000 tons and 500,000 tons. NanoStruck is in discussions with the owners of the source site regarding potential contracts for processing the mine tailings at the source site.
The head assays and sampling were done by SGS SA and optical microscopic study performed by Petrolab Ltd to verify the representativeness of the tailing samples as well as percentage of precious metal contained in them. Recovery rates and processes used were also monitored and verified by certified third party experts and laboratory testing, including electron microscope analysis.
The value of precious metals left in mine tailings in 2012 alone by mining companies such as Anglo American Plc (LON: AAL), Barrick Gold Corp. (TSX: ABX, NYSE: ABX), Goldcorp Inc. (TSX: G, NYSE: GG) and Rio Tinto Group (ASX: RIO), was estimated to be US$20 billion at current market prices. Of that, gold represented more than 80% of the value with approximately 360 tons of gold left behind in tailings due to their micronic size, complex minerology as well as political and environmental concerns related to cyanide leaching.
NanoStruck’s environmentally conscious approach did not involve the use of cyanide leaching. All chemicals and organic substances used were recycled and reused.
More details on the refractory gold tailing samples and specifics of the results will be published in the weeks ahead along with highlights from an environmental impact study as well as a volumetrics and grade survey.
Bundeep Singh Rangar, interim CEO and Chairman of the Board said: "We are very excited to announce these tremendously high recovery rates, involving non-cyanide hydrometallurgy and nanotechnology based processes, that could be transformative for the mining industry.”
Brian Mok, Senior Mining Consultant at BG Partners Corp. said: “High value refractory ore and tailings would be very well suited for this process as well as jurisdictions where the use of toxic materials such as cyanide is undesirable or unacceptable.”
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.
On behalf of the Board of Directors:
Raj Kurichh, Chief Marketing Officer
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 of the precious metals left in mine tailings by the companies listed above, gold represented more than 80% of the value with approximately 360 tons of gold left behind in tailings and that more details on the refractory gold tailing samples and specifics of the results will be published in the weeks ahead along with highlights from an environmental impact study as well as a volumetrics and grade survey.
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.