Coronet Completes Definitive Joint Venture Agreement On Its White Caps Gold Tailings Project

- April 19th, 2017

Coronet Metals Inc. (TSXV: CRF) (FSE: 2CM) (OTC PINK: CORMF) (“Coronet” or “the Company”) is pleased to announce that the Company has signed a definitive Joint Venture agreement (“the JV” or “JV”) with Mineworx Technologies Inc. (“Mineworx”), a 100% wholly owned subsidiary of Iberian Minerals Ltd. (TSXV: IML) (OTCQB: SLDRF) (“Iberian”) to process the estimated …

Coronet Metals Inc. (TSXV: CRF) (FSE: 2CM) (OTC PINK: CORMF) (“Coronet” or “the Company”) is pleased to announce that the Company has signed a definitive Joint Venture agreement (“the JV” or “JV”) with Mineworx Technologies Inc. (“Mineworx”), a 100% wholly owned subsidiary of Iberian Minerals Ltd. (TSXV: IML) (OTCQB: SLDRF) (“Iberian”) to process the estimated 250,000 tonnes gold bearing historic tails and mine dumps* at its wholly-owned White Caps Gold Mining Project (“White Caps” or “The Project”) in the Manhattan Mining District of Nevada. Through Coronet’s wholly-owned subsidiary, “White Caps Mining Company” (“WCMC”), the Company controls the historic tails and mine dumps.
As quoted in the press release:

The binding LOI, announced by both companies on March 28, 2017, has been finalized into a definitive JV Agreement between the parties. Mineworx will be applying its license to utilize the EnviroLeach Technologies patent-pending, non-cyanide leach formula to process the estimated 250,000 tonnes of gold bearing historic tailings and mine dumps at the project. The Company is now proceeding with the next phase of the project towards pilot plant testing, which will consist of a small scale 50kg pilot plant at Mineworx’s Burnaby, BC facility to determine recoverability and reusability of the formula, gold recovery from solution, optimization and preliminary economics. Following a successful small scale pilot plant test, a 1 tonne per day pilot plant will be built to test 40 tonnes of material to confirm scalability, recoveries and economics.

Click here for the full text release

 

Are You Investing In Gold Yet?

   
What Happened To Gold In Q1? Which Gold Stocks To Watch In 2021?
Exclusive Information You Need To Make An Informed Decision.
 

Get the latest Gold Investing stock information

Get the latest information about companies associated with Gold Investing Delivered directly to your inbox.

Gold Investing

Select None
Select All

Leave a Reply