Dundee Sustainable Technologies Inc. to Process High Grade Gold Concentrate
08 Mai 2014 - 8:12PM
Marketwired
Dundee Sustainable Technologies Inc. to Process High Grade Gold
Concentrate
TORONTO, ONTARIO--(Marketwired - May 8, 2014) - Dundee
Corporation (TSX:DC.A) is pleased to announce that its 86%
controlled subsidiary, Dundee Sustainable Technologies Inc. (the
"Company" or "DSTI") listed on the CSE (CSE:DST) and the developer
and owner of proprietary technologies to serve the natural resource
sector with environmentally friendly procedures, is pleased to
provide further information on its progress to date.
The Company has arranged a contract to process a High Grade
Concentrate.
After significant testing of both ore and concentrate received
in November 2013 from a privately held gold mining company, DSTI
has entered into an arrangement to process their materials once the
demonstration plant becomes operational in mid-January 2015.
Pursuant to this arrangement DSTI may, at its option, process up to
15 tonnes of their produced concentrate per day, provided such
concentrate contains a minimum of 10 ounces of gold per tonne. As a
result, up to 4,500 tonnes of concentrate (current values of
+$15,000 per tonne) may be processed by DSTI, over a 12 month
period, to begin after the demonstration phase of the DSTI plant in
Quebec is completed.
To date, DSTI has obtained 25 patents in 19 countries for its
technologies relating to the extraction of precious metals and base
metals, as well as the neutralization of arsenic and production of
fertilizer. DSTI has 14 pending patent applications worldwide for
its technologies, which include the ability to process gold
concentrates without the use of cyanide.
The samples of concentrate and ore furnished to DSTI for testing
in November 2013 were composed of gold, silver, copper, lead and
zinc.
Initial testing on the concentrate achieved gold recoveries in
excess of 97%, despite the presence of substantial base metals in
the concentrate. For the successful processing, DSTI will receive a
50% interest in the net profits arising from the sales of the end
products, net of mining, concentration, processing and
transportation costs and expenses.
ABOUT DUNDEE SUSTAINABLE TECHNOLOGIES INC.
The cyanide and mercury free gold extraction process developed
by DSTI has been recognized as a "green technology" for which DSTI
has been awarded $5,700,000 in grants to date for a demonstration
plant, presently under construction in Thetford Mines Quebec of
which $700,000 has been provided by the Government of Quebec, and
$5,000,000 by the Government of Canada through the Sustainable
Development Technology Fund. The plant is scheduled to go into
operation in mid-January 2015.
Over the last ten years DSTI has tested over 50 different gold
deposits, both oxide and sulfide ores at the lab level and at its
pilot plant. These tests have consistently achieved gold recoveries
in excess of 90%, using chlorination instead of cyanide. In
addition, the tailings from the process are inert from toxic
substances and, as a result, meet environmental norms. An
engineering study completed within the last 12 months supports
DSTI's claim of having operated a pilot plant showing a gold
extraction yield higher than 90% using a closed-circuit
chlorination process.
ABOUT DUNDEE CORPORATION
Dundee Corporation is a public Canadian independent holding
company listed on the Toronto Stock Exchange ("TSX") under the
symbol "DC.A." Through its operating subsidiaries, Dundee
Corporation is engaged in diverse business activities in the areas
of its core competencies including investment advisory and
corporate finance, energy, resources, agriculture, real estate and
infrastructure. Dundee Corporation also holds, directly and
indirectly, a portfolio of investments mostly in these core focus
areas, as well as other select investments in both publicly listed
and private companies.
FORWARD LOOKING STATEMENTS: This press release contains
forward-looking statements that address future events and
conditions, which are subject to various risks and uncertainties.
Actual results could differ materially from those anticipated in
such forward- looking statements as a result of numerous factors,
some of which may be beyond the Corporation's control. These
factors include: results of exploration activities, general market
and industry conditions, and other risks disclosed in the
Corporation's filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and
opinions of the Corporation's management on the date the statements
are made. The assumptions used in the preparation of such
statements, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements. The Corporation
expressly disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by
applicable law. Depending on exploration results and available
financing, the Corporation may at any point modify its work
program.
DUNDEE CORPORATION:Ned GoodmanPresident and Chief Executive
Officer(416) 365-5665Lucie PresotVice President andChief Financial
Officer(416) 365-5157
Dundee (TSX:DC.A)
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