BacTech Announces High
Grade Silver, Tin, Copper Results From Telamayu
Drilling
TORONTO, CANADA -- February 21, 2017 -- InvestorsHub NewsWire --
BacTech Environmental Corporation ("BacTech" or the "Company"),
(CSE:BAC)
(OTC
PINK:BCCEF) today announced the results of the first 47 samples
(35 routines and 12 control samples) from 3 holes drilled on a
60-hole drill program (approximately 600 m in total) at the
Company's joint venture Silver- Copper-Tin tailings remediation
project at Telamayu, Bolivia. The purpose of the program is to
verify earlier work carried out by BacTech's partner, Mining
Corporation of Bolivia ("COMIBOL"), the Bolivian state mining
company, and to provide material for upcoming metallurgical work.
Additional results will be released in batches over the next few
weeks.
Telamayu is an historic mill town situated next to Atocha, Bolivia.
Over the past 80 years, the mill has treated material from 2 local
mines (Tasna and Animas). The tailings from the mill make up the
Antigua tailings, the subject of these assays, and the much larger
Nuevo tailings. Previously, COMIBOL engaged individuals to dig test
holes on the tailings (five wells of 1.5mx 1.5mx10m) with bulk
samples taken every meter as well as channel samples. The test
holes showed a tin grade of 0.97% and a silver content of 408
g/t.
Upon completion of the execution of the contract with COMIBOL for
the remediation and exploitation of the old tailings of Telamayu,
which was subsequently approved by the Bolivian Congress and
endorsed by an express law, BacTech had access to documents that
COMIBOL's Environment Department had prepared in 2004-2005. These
documents present a proposal for the exploitation of the "old
tailings dam of Telamayu". Specifically, the documents deal with
work to be carried out for the evaluation of the dam's potential,
the technical options for metal extraction, the proposed type of
plant to be employed and an estimate of the project's
profitability. The historical data and grades presented above are
relevant to the further exploration of the project, which the
Company is currently undertaking with a drill program.
BacTech is conducting a tailing evaluation program with
approximately 60 holes to be drilled with the Vibracore system with
systematic core sampling meter by meter. At present, 65% of the
drilling program has been completed and approximately 600 core
samples were sent in for chemical analysis.
The results from the 3 first holes are as follows (weighted
average, uncut):
|
Hole ID |
X |
Y |
Z |
From |
To |
Width, m |
Gold, g/t |
Silver, g/t |
Tin, % |
Copper Soluble, % |
Copper Total, % |
|
G5X |
788 769 |
7 681 660 |
3 671 |
0,00 |
12,20 |
12,20 |
0,12 |
396,10 |
1,55 |
0,97 |
1,69 |
|
H5 |
788 774 |
7 681 687 |
3 671 |
0,50 |
12,10 |
11,60 |
0,26 |
504,87 |
1,56 |
0,87 |
1,75 |
|
F6 |
788 775 |
7 681 642 |
3 671 |
0,50 |
11,90 |
11,40 |
0,28 |
260,11 |
2,55 |
0,16 |
0,29 |
Admittedly, only 8% of the material has been assayed to date,
but these values have exceeded our expectations.
Samples consist of half NQ-size diamond core that are split on
site, prepared at the Spectrolab laboratory, an ISO accredited
laboratory at the Technical University of Oruro, Bolivia and
assayed for gold, silver, tin and copper by fire assay for silver
and by Atomic absorption or total fusion for the base metals.
The QA-QC program of the Company includes insertion of certified
standards every 20 samples, blanks at least every 20 samples and
core duplicates every 20 samples. The remaining half core is
retained onsite for verification and reference purposes.
The sampling results from this drill program will be the
underpinning of a resource estimation following the guidelines
established by Canadian National Instrument 43-101 reporting. Once
the drilling program has been completed, the Company will
immediately begin metallurgical test work to determine the
appropriate method for metal recovery. A complete NI 43-101
Preliminary Economic Assessment ("PEA") will then be completed.
"It was a bit tricky in the beginning of the drill program as we
discovered a cement-like layer up to 1 meter thick that the
Vibracore had a hard time getting through. Alterations were made to
the program and, at the time of writing, we are in the final stages
of the program," said Ross Orr, President and CEO of BacTech.
Kamil Khobzi, an engineer and Qualified Person under NI 43-101,
who has visited the property, has read and approved this
release.
Finally, the Company also announced that it has closed a
CAD$30,000 tranche of the current financing. The financing is a
5-cent unit consisting of 1 common share of the Company and 1/2
(one half) of a common share purchase warrant. One full warrant
plus 10 cents buys an additional common share for 2 years from the
closing of this tranche.
Company Profile
BacTech Environmental Corporation holds the perpetual,
exclusive, royalty-free rights to use the patented BACOX
bioleaching technology for the reclamation of tailings and mining
waste materials. The Company's principal focus is a high-grade
silver/copper/tin tailings project called Telamayu, located in
Atocha, Bolivia, in association with COMIBOL, the state mining
group. Investigation has begun to identify opportunities in
Ecuador. The Company continues to field enquiries globally with
respect to additional opportunities for remediation, including
licensing transactions for the technology.
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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 by the use of 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 as a
result 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.
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