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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Bactech Environmental Corporation (QB) | USOTC:BCCEF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0216 | 0.018 | 0.0217 | 0.00 | 17:35:42 |
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.
Shares outstanding 58,882,930
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
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