enCore Energy Announces Commercial Launch of New Green Extraction Technology for Gold
VANCOUVER, March 02, 2020 - enCore Energy Corp. (TSX-V: EU) (OTCQB: ENCUF) (the "Company") announced today that the Company has signed an Letter of Intent (“LOI”) with EnviroLeach Technologies Inc. (CSE: ETI) (OTCQB: EVLLF) and Golden Predator Mining Corp. (TSX-V: GPY) (OTCQB: NTGSF) to establish Group 11 Technologies Inc (“Group 11”), a US-based technology firm focused primarily on non-invasive extraction technology utilizing environmentally-friendly liquids to recover gold and other metals.
Group 11’s new proprietary process has been tested on high grade concentrates and is now ready for market and testing on further applications, providing the mining industry for the first time with a commercially viable, sustainable alternative to standard cyanide processes and conventional mining practices which often face community opposition and require slow-moving and expensive regulatory compliance.
About Group 11 Technologies Inc.
Sustainable metals extraction has become a serious challenge for the mining industry which faces growing concerns over its carbon footprint, energy consumption, operational safety and especially its impact on water use and water quality while responding to an ever increasing need for metals in our daily lives. Each Group 11 owner makes an important contribution to this business opportunity. EnviroLeach Technologies Inc. (CSE: ETI) (OTCQB: EVLLF) has developed an economically-viable proprietary iodine leach technology. Encore Energy Corp. (TSXV: EU) (OTCQB: ENCUF) has pioneered a proprietary expertise in in-situ metal recovery that opens a remarkably large opportunity for recovering metals from deposits without the environmental disturbance of both open pit and underground mining. Golden Predator Mining Corp. (TSXV:GPY) (OTCQB:NTGSF) has spearheaded and successfully tested the application of EnviroLeach technology to the recovery of gold from sulfide concentrates where cyanide is not feasible or permitted, using its proprietary mobile recovery unit. To learn more about Group 11, please visit www.gr11tech.com.
William Sheriff, Executive Chairman of EnCore Energy, commented: “We intend to be disruptors in our industry. Mining needs to become less invasive and more sustainable. Group 11 is our response, using a unique combination of proven, proprietary knowledge to lessen the industry’s footprint without any sacrifice of efficiency. Dennis Stover is clearly one of the world’s leading experts in the field of ISR. I first had the pleasure of working with Dennis Stover as our COO at Energy Metals where we operated an ISR mine using non-invasive in-situ extraction successfully in the uranium sector. ISR for other metals has enormous potential for ESG benefits if cyanide is not required. Combining our team’s expertise in ISR with EnviroLeach’s environmentally-friendly solutions free of acids, toxic chemicals and cyanide is the key to a very exciting opportunity.”
Duane Nelson, President, and CEO of EnviroLeach, commented: “I am very excited that we will continue to advance the application of our formulas for the in-situ recovery of gold and other metals. This application has the potential to change the way the world mines. It has the potential to unlock the value of deposits in environmentally sensitive areas and it could also provide a viable solution for thousands of smaller deposits worldwide that don’t justify the CAPEX of current conventional mining methods.”
Background on Non-Invasive Extraction Technology
Non-invasive extraction of minerals, perfected by the team now at enCore, is known in the industry as In-situ Recovery (“ISR”) and has been successfully utilized to recover metals including uranium and copper using liquid solutions other than cyanide. Group 11 Technologies is committed to the development and application of ISR extraction for gold and other metals using EnviroLeach’s patented environmentally-friendly liquids along with enCore’s expertise in ISR extraction. This combination of expertise will advance a business model that has potential to disrupt the conventional mining industry.
In-Situ Recovery (meaning ‘in place’) is a non-invasive extraction method that has transformed the uranium industry. In ISR, solvent-like fluids are circulated underground and returned to surface for further processing and recovery of the minerals. ISR means no open pits or underground tunnels, no tailings or large waste dumps and no discharge of noxious chemical at surface. It therefore has the potential to be a low-impact, low capital cost mining method. At the end of mine life, when many projects are burdened by remediation and rehabilitation requirements, ISR means substantially reduced mine-closure costs compared to conventional practices. In addition, energy requirements, water needs and the greenhouse gas footprint of mining projects can be significantly reduced using ISR technology.
Under the terms of the LOI, enCore and EnviroLeach will be the largest shareholders of Group 11 with an initial stake of 40% each. EnCore will provide $750,000 in funding and EnviroLeach will provide for the exclusive use of its non-invasive extraction technology. Golden Predator will own an initial 20% interest and contribute mobile processing equipment and expertise in utilizing EnviroLeach’s environmentally friendly solution for recovery of gold from sulphide concentrates, as demonstrated by the successful test work at GPY’s 3 Aces Project. Upon completion of a definitive agreement, Group 11 will fund all ongoing research and development expenditures for in-situ and secondary recovery applications. Completion of a definitive agreement is subject to a number of conditions including but not limited to final term negotiations, licensing agreements and regulatory approvals.
About EnviroLeach Technologies Inc.
EnviroLeach Technologies is engaged in the development and commercialization of environmentally-friendly formulas and technologies for the treatment of materials in the mining and recycling sectors. Using its proprietary non-cyanide, water-based, neutral pH treatment process, EnviroLeach extracts precious metals from ores, concentrates, and E-Waste using only FDA approved additives and ambient temperature water.
Group 11 is backed by: a first-class staff of scientists and engineers; an extraordinary data set including tens of thousands of individual assays; independent technical validations; strategic partners and over $20 million in research and development. EnviroLeach’s technology is emerging as a potential new standard for the provision of eco-friendly hydrometallurgical extraction of precious metals in both the mining and E-Waste sectors. Further information is available on the EnviroLeach web site: https://enviroleach.com
About enCore Energy Corp.
enCore Energy Corp., with assets based entirely in the United States, has a 100% interest, free of holding costs, in 115,000+ acres (46,400 ha) of private mineral rights in New Mexico, including the Crownpoint and Hosta Butte uranium deposits. These deposits contain an estimated Indicated Mineral Resource of 26.6 million pounds of U3O8 at an average grade of 0.105% e U3O8(1). A portion of these resources are under NRC license. The Company also holds the Marquez and Treeline projects in New Mexico as well as other properties in Utah, Arizona, and Wyoming. The Company owns or has access to an extensive collection of proprietary North American and global uranium data including the Union Carbide, US Smelting and Refining, UV Industries, and Rancher’s Exploration databases in addition to a leading collection of geophysical data for the high-grade Northern Arizona Strip district.
For additional information:
William M. Sheriff
Executive Chairman
972-333-2214
info@encoreenergycorp.com
www.encoreenergycorp.com
(1) Technical Report, titled, "Crownpoint and Hosta Butte Uranium Project Mineral Resource Technical Report, McKinley County, New Mexico, USA, Mineral Resource Technical Report - National Instrument 43-101," dated May 14, 2012, and authored by Douglas L. Beahm, PEng, PGeo.
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Cautionary Note Regarding Forward-Looking Statements
This news release includes certain forward-looking statements within the meaning of applicable securities laws including the anticipated completion of the transaction and acquisition of the Marquez, Nose Rock and other properties, and the potential advancement thereof. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. Estimates of mineral resources and reserves are also forward looking statements because they constitute projections regarding the amount of minerals that may be encountered in the future. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms and completion of the transaction are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.