EnviroGold Global and Luca Mining Announce MOU to Reprocess Historical Tailings at Campo Morado
- Signing of MOU to process tailings at Campo Morado Mine in Mexico
- Tailings contain approximately 3,290,622 tonnes of valuable metals
- None.
TORONTO, Aug. 29, 2023 (GLOBE NEWSWIRE) -- EnviroGold Global Limited (CSE:NVRO | OTCQB:ESGLF | FSE:YGK) (“EnviroGold Global”), a clean technology company accelerating the world’s transition to a circular-resource economy and Luca Mining Corp. (“Luca” (TSX-V: LUCA; OTCQX: LUCMF; FSE: Z68) are pleased to announce the signing of a memorandum of understanding, dated August 1, 2023, to process the tailings at Luca’s
The scope of the initial project is to evaluate the reprocessing of the historical Campo Morado (“Campo”) tailings that are currently being stored in Campo’s original tailings storage facility. These tailings contain approximately 3,290,622 tonnes @
EnviroGold and Luca will work together to develop a definitive processing agreement that will provide a stage-gated approach to the development of the Project. The Project will follow the standard approach with EnviroGold working with Luca to complete a preliminary economic assessment ("PEA").
This project follows successful pilot plant scale test work on tailings for the Hellyer Project in Australia (refer to EnviroGold’s news release dated June 29, 2023). The historic Hellyer Mine is also a volcanogenic massive sulphide type deposit, with very similar characteristics to Campo Morado. The 500kg sample tested had grades of 2.59 g/t Au, 59 g/t Ag,
Initial test work on Campo tailings samples in 2021 achieved preliminary gold recoveries of approximately
Following a definitive agreement between the parties, the initial stage of the project will include further data and samples collection and test work, followed by a PEA-level study and NI 43-101 Technical Report outlining the project concepts, costs, development timeline, etc.
A positive outcome from this initial tailings project could lead to applying the same technologies to the current plant and tailings stream at the Project.
Dr. Mark Thorpe (CEO of EnviroGold) commented, “We are looking forward to working with the Luca team. Having recently completed our pilot plant testing on the Hellyer Project, we are confident that the NVRO process can be adjusted to work on the Campo tailings. Furthermore, it will be a pleasure to be back working in Mexico again.”
Mr. Mike Struthers (CEO of Luca) commented, “We’re excited to work with EnviroGold on this project, building on the initial test work in 2021. The encouraging results from those initial tests, plus the very real potential to also recover base metals from the tailings, could generate significant value from this old tailings facility. More importantly, if the initial project is successful, the potential to add this metals recovery stream to the existing plant could add considerable future value to Campo Morado.”
About EnviroGold Global
EnviroGold is a CleanTech company that uses proprietary technologies to reduce the environmental liabilities of wastes from mining projects while maximizing return for its shareholders. The Company is dedicated to establishing ESG and circular economy leadership by profitably reprocessing and remediating mine waste (tailings) to recover precious, critical, and strategic metals – including gold, silver, copper, zinc and nickel.
About Luca Mining Corp.
Luca is a Canadian based mining company with two
Luca’s Tahuehueto Gold Mine Project is in north-western Durango State, Mexico where construction of an initial 500 tonnes per day (“tpd”) operation is well advanced. The second stage, the 1000 tpd project, will follow immediately after commissioning the initial stage. The operation is generating gold, silver, lead, and zinc in concentrates.
Campo Morado is an operating polymetallic base and precious metals mine currently producing at an average of 2,400 tpd, generating zinc and copper concentrates with significant precious metals credits.
Contact Information
Dr. Mark B. Thorpe
Chief Executive Officer
Telephone: +1 416 777 6720
Email: InvestorRelations@EnvirogoldGlobal.com
Website: https://envirogoldglobal.com
Forward-Looking Statements
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