BacTech Environmental Corp. (CNSX:BAC) announced the results of a NI 43-101 technical report for the Snow Lake, Manitoba arsenic/gold residue stockpile.
As quoted in the press release:
The technical report outlines a Measured Mineral Resource of 265,000 tonnes grading 9.7 grams per tonne gold and 2.17 grams per tonne silver for the stockpile. In addition, an Indicated Mineral Reserve of 9300 tonnes grading 9.2 grams per tonne gold and 2.15 grams per tonne silver is estimated, as is a further Inferred Mineral Resource of 28,000 tonnes grading 7.0 grams per tonne gold and 2.4 grams per tonne silver.
BacTech proposes to build next summer (2012) at its expense, a bioleach plant to treat and stabilize the contained arsenic in the stockpile as a ferric arsenate while liberating the contained gold for recovery for its own account. Production is slated to begin in the 4th quarter of 2012.
BacTech President and CEO , Ross Orr, said:
“We have cleared another hurdle with the publishing of the results from the NI 43-101 technical report as it confirms our understanding of the GRS and solidly establishes the value of the project to our company and shareholders. The next hurdle will be delivering a NI 43-101 compliant feasibility study on the project, which will begin shortly. I am pleased to say that the Government of Manitoba and the town of Snow Lake have been very helpful getting us to this stage. We are very excited to be building the first bio-leach facility in North America and see it as our template to build other plants in the North American market and beyond to address similar acid mine drainage and arsenic contamination issues”