BacTech Lays Groundwork for Feasibility Study
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TORONTO, CANADA, Jun 24 (MARKET WIRE) --
BacTech Mining Corporation ("BacTech" or the "Company") (TSX VENTURE: BM)
today announced that it has engaged the services of MPI Drilling of
Picton, Ontario, to conduct a sonic drill program on the Castle Mine
tailings near Gowganda in northern Ontario. The drill program is
anticipated to begin the week of July 6th and will recover large 4 inch
diameter cores from 10-12 holes.
The purpose of the drill program is to obtain information that will be an
integral part of the upcoming feasibility study which will determine the
economic viability of the bioleaching facility the Company proposes to
build in Coleman Township. The study will be completed under the guidance
of Peter Secker, recently appointed Project Manager, who is relocating to
Toronto in July. Drill core generated by the program will be first
assayed for metal content before being subjected to gravity and flotation
concentration. The concentrate will be used as a source of material for
additional bioleach work, arsenic stabilization, and downstream metal
recovery test work. In addition, the program will allow for BacTech to
better understand the distribution of metals, both vertically and
horizontally, throughout the tailings area, as well as the depth of the
tails.
In late May, LGL Limited of Burlington, Ontario, began a surface water
assessment in the vicinity of the Castle Mine tails on behalf of BacTech.
The purpose of the assessment will be to collect baseline environmental
information regarding water quality and the aquatic community in the
lakes and streams surrounding the tailings. LGL is conducting a similar
study in the Cobalt area for the Ministry of Northern Development and
Mines ("MNDM") which will be of great use to BacTech when it is completed
and made public in approximately 12 months.
From 1967-2002, a number of studies were carried out by federal and
provincial governments in the Cobalt area to assess contamination levels
of arsenic and other metals. These studies all indicate widespread
arsenic contamination in the surface waters of the Cobalt and Gowganda
areas. BacTech's bioleaching technology will assist in stabilizing
arsenic, while at the same time recovering metals such as silver, cobalt
and nickel for resale.
On June 9, Company President and CEO, Ross Orr, traveled to meet with the
Matachewan First Nations band to present the proposed plans BacTech has
for the area. Also in attendance were 3 individuals from the MNDM, and a
positive question and answer session followed a presentation.
BACTECH PROFILE
BacTech owns patented bacterial oxidation technology for the treatment of
refractory ores and concentrates to enhance the recovery of gold, silver
and base metals. The Company's focus is the acquisition of equity
positions in projects amenable to bioleaching. In June 2008, the Company
signed an agreement to acquire Yamana Gold Inc.'s 33% interest in two
refractory gold deposits in Papua New Guinea. In September 2008, BacTech
signed an MOU to investigate the use of bioleaching to reprocess
arsenic-laden tailings in Cobalt, Ontario. This is the Company's first
foray into the cleantech industry. BacTech is continuing to evaluate
additional remediation projects.
Shares outstanding 83,857,206
Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts:
BacTech Mining Corporation
Ross Orr
President & CEO
416-813-0303 ext 222
Investor Relations:
Pierre Anglos
1-800-436-2027
capitalgainsco@shaw.ca
Copyright 2009, Market Wire, All rights reserved.
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