EnviroMetal Process Demonstrates Additional Benefits for On Site Gold Recovery

Rhea-AI Summary

EnviroMetal Technologies Inc. (CSE:ETI)(OTCQB:EVLLF) announced new test results showcasing the economic advantages of its patented, cyanide-free gold recovery process. Recent bulk tests revealed that gold grades from the EnviroMetal Process exceeded standard assay estimates by up to 43 grams per tonne. Key findings indicated:

• Gold recovered was 58 grams more than purchased from a 1,671 kg sample.
• Final calculated gold grade reached 485 gpt, compared to an assayed grade of 450 gpt.
• This indicates a potential revenue increase of around US$2,100 to US$2,550 per tonne.

The results highlight the risks of relying on conventional assay methods and underscore the need for miners to adopt the EnviroMetal Process.

Positive

• Gold recovery exceeded purchased amounts by 58 grams.
• Final calculated gold grade improved by 35 grams per tonne compared to assay grade.
• Potential revenue increase of ~US$2,100 to US$2,550 per tonne.
• Reduced reliance on smelters can enhance profit margins for miners.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 6, 2023 / EnviroMetal Technologies Inc. ("EnviroMetal" or the "Company"), (CSE:ETI)(OTCQB:EVLLF)(7N2:FSE) is pleased to announce test data demonstrating an additional economic benefit of on site gold recovery using Envirometal's patented, cyanide free, gold recovery process (the "EnviroMetal Process"). In recent bulk tests using the EnviroMetal Process (see news release dated January 18, 2023), gold grades calculated using gold recovered and residual gold values in post processing material ("tails") were compared to gold grades estimated using industry standard assay protocols employed by smelters for determining gold payments. Calculated gold values exceeded estimated gold grades by up to 43 grams per tonne ("gpt").

Noteworthy findings include:

• Gold recovered was 58 grams more than gold purchased in the 1,671 kilogram sample;
• Final calculated gold grade of 485 gpt compared to an assayed grade of 450 gpt for the 1,671 kilogram sample, an increase of 35 gpt gold (~US$2,100 per tonne increase); and
• Final calculated gold grade of 480 gpt compared to an assayed grade of 437 gpt for a 620 kilogram sub-sample, an increase of 43 gpt gold (~US$2,550 per tonne increase).

The assay comparisons expose a negative bias in grade estimation practices used for calculating concentrate value and provides further incentive for concentrate producers to eliminate or reduce their reliance on smelters by adopting the EnviroMetal Process for on site gold recovery.

Wayne Moorhouse, EnviroMetal's President and CEO, commented, "Our findings highlight the risk miners face when relying on assays to determine the amount of gold in concentrates sold to smelters particularly when the concentrates are high grade or contain large gold particles or "nuggets". Our data confirms the suspicions of concentrate producers and we are proud to offer a solution that helps miners maximize value. The EnviroMetal Process can be incorporated in new or existing processing plants allowing miners to reduce assay risk and get paid for more gold."

Background

EnviroMetal purchased 1,671 kilograms of gravity concentrate from a small North American based miner with the transaction brokered by a multinational base metal and concentrate trader. The gravity concentrate was purchased on terms used by commercial smelters with the price determined following final weighing, sampling, sample preparation, and determination of moisture content in accordance with International Standards Organization ("ISO") Standards. The seller and EnviroMetal each received a sample of the gravity concentrate and both parties obtained an assay on their sample from an accredited third party assayer with the two samples returning assays within 11 gpt of each other with an average assayed grade of 450 gpt.

From the 1,671 kilograms of material purchased a 620 kilogram sub-sample was processed in 6 batches as part of a study to measure reagent consumption and cost using the EnviroMetal Process (see Company news releases dated January 18, 2023 and January 19, 2023). As the objective of the test was to measure reagent consumption each concentrate batch processed was leached for a fixed 24 hours regardless of whether full gold recovery had occurred.

Prior to leaching, the 620 kilogram sub-sample was assayed, and following leaching the amount of gold recovered was measured based on solution assays which were confirmed by weighing the gold recovered subsequent to electrowinning and refining. The assayed gold grade on the 620 kilogram sub- sample was 437 gpt and the post processing gold grade was calculated as 480 gpt based on the weight of gold recovered through processing and the assayed gold grade of the tails post processing.

The balance of the purchased material was processed prior to or following the processing of the 620 kilogram sub-sample. The post processing calculated head grade of the entire 1,671 kilograms of material was 485 gpt based on the weight of gold recovered through processing and the assayed gold grade of the tails post processing. This 485 gpt gold compared favourably to the gold grade of 450 gpt used for determining the value of the gravity concentrate when it was purchased. \

About EnviroMetal Technologies Inc.

EnviroMetal Technologies is engaged in the development and commercialization of environmentally friendly technologies for the treatment of materials in the primary and secondary metals industries. Using its proprietary non-cyanide, water-based, neutral pH treatment process, EnviroMetal extracts precious metals from concentrates, ores, and E-waste. For more information please visit: https://EnviroMetal.com

Contact Information:

Jason Leikam
VP Corporate Development
EnviroMetal Technologies Inc.
info@EnviroMetal.com
(604) 428-2400 x 104

Forward-Looking Statements

This News Release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and the United States securities legislation. Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words "anticipates," "believes," "may," "continues," "estimates," "expects," and "will" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking information may include, but is not limited to, information concerning our Research and Development activities, the accuracy of our capital and operating cost estimates; production and processing estimates; the results, the adequacy of EnviroMetal's financial resources, and timing of development of ongoing research and development projects, costs and timing of future revenues or profits and adequacy of financial resources. Wherever possible, words such as "plans", "expects", "projects", "assumes", "budget", "strategy", "scheduled", "estimates", "forecasts", "anticipates", "believes", "intends", "targets" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning future revenue or earnings estimates may also be deemed to constitute forward-looking information. Any statements that express or involve discussions concerning predictions, expectations, beliefs, plans, projections, objectives, assumptions, or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties, and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information. Forward-looking information is based on the expectations and opinions of EnviroMetal'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. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events, or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information. The CSE has not approved or disapproved of the information contained herein.

SOURCE: EnviroMetal Technologies Inc

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FAQ

What were the new findings from EnviroMetal Technologies on March 6, 2023?

EnviroMetal Technologies announced that their gold recovery process demonstrated economic benefits, with gold grades exceeding traditional assay estimates by up to 43 grams per tonne.

How much gold was recovered during the recent tests of the EnviroMetal Process?

The tests revealed a recovery of 58 grams more gold from a 1,671 kg sample than was initially purchased.

What was the calculated gold grade from EnviroMetal’s latest bulk tests?

The final calculated gold grade was 485 grams per tonne, compared to an assayed grade of 450 grams per tonne.

How does the EnviroMetal Process impact revenue for miners?

The process can potentially increase revenue by approximately US$2,100 to US$2,550 per tonne.

What risks do miners face with traditional assay methods?

Miners risk underestimating gold quantities, particularly in high-grade concentrates, leading to potential revenue losses.