VANCOUVER, June 15, 2020 - EnviroLeach Technologies Inc. (the "Company "or "EnviroLeach"), (CSE:ETI) (OTCQB:EVLLF) (FSE:7N2) is pleased to provide the following corporate update regarding its E-Waste and mining operations and business initiatives.
COVID-19 Pandemic Effects
EnviroLeach recently returned to full staffing levels at its office, laboratory and the EviroCircuit E-Waste processing facility. In early March, all Company offices and facilities incorporated recommended safety protocols and offered staff the opportunity to work remotely, where circumstances allowed. The EnviroCircuit facility remained operational during this time. The COVID-19 pandemic significantly disrupted the E-Waste supply chain domestically and internationally. Material shipments stalled across Asia, Europe and North America as international borders closed, port facilities reduced operations, and recycling plants temporarily closed or decreased activities. This global disruption impacted EnviroLeach's operations, notably the staged production rate increase to full plant capacity announced in late 2019.
In response to this unprecedented operating environment, EnviroLeach has worked to expand its supply chain network with marketing initiatives targeting domestic and international recyclers and OEM's with promising results. It is anticipated supply movements will re-commence through the summer months, and the Company expects feedstock acquisitions will increase from diverse sources. Due diligence is now underway with several potential suppliers in accordance with best E-Waste recycling industry practises.
Jabil Technical/Economic Study
As reported in a February 20, 2020 press release, since November 2019 the EnviroCircuit facility has been dedicated to processing material supplied by Jabil as part of extensive technical studies and economic and environmental assessments of the EnviroCircuit process. These exhaustive studies have provided valuable technical and economic data and insight for the both the Company and Jabil.
The tests included detailed analysis of material process flow and compostion through each step of the EnviroCircuit process, R2 certification compliance, metal recoveries, process audit capabilities, reagent consumption and reuse, air emissions, process costs, carbon dioxide equivalent emissions, and process economics compared to the smelting of printed circuit boards.
The test program's objective was to generate data-driven intelligence as a component of due diligence on our newly commissioned facility for Jabil and other potential clients and upstream partners. The data generated has produced a refined E-Waste processing and pricing model on which the Company bases continued negotiations for E-Waste supply agreements with Jabil and other potential upstream partners.
The results of of this six-month technical and economic assessment has confirmed both the commercial and technical viability, and the competitive economic and environmental advantages of the EnviroCircuit process as compared to the conventional smelting of printed circuit boards.
The continued facility optimization through the test period resulted in sustained processing rates of one tonne per hour which meets the original facility design production targets. The optimization program also generated improved metal recoveries, higher metal concentration and lower operational costs. Overall metal recoveries are now consistently over 90% while chemical consumption and other process costs have been significantly reduced. These higher metal recoveries and reduced costs will ultimately result in greater operational margins.
Gold Mining and In-Situ Mineral Applications
EnviroLeach continues advanced metallurgical testing on concentrate materials from multiple mining clients. Using the Company's patented non-cyanide based leaching formula gold recoveries consistently exceed 90%. While the degree and timing of partner due diligence varies, testing programs continue to demonstrate compelling economics for the EnviroLeach formula and process.
The Company continues to perform detailed metallurgical testing and economic studies on both gravity and flotation concentrates with positive results. In most cases recoveries and leach kinetics are comparable or superior to conventional cyanide leaching. Recent test results on arsenopyrite based concentrates were positive which may open a significant new market for the Company, as these concentrates currently have limited processing options and markets.
As announced March 2, 2020, EnviroLeach has entered into a letter of intent with Group 11 Technologies Inc. (Group 11") to use EnviroLeach's technology for in situ leach applications. Group 11 is privately held company focused on establishing itself as a leader, from development to deployment, of non-invasive metal recovery technologies. The successful development and application of this revolutionary technology could have a significant impact on the mining sector as it offers a potentially low-cost, low-impact alternative to conventional mining practices and may unlock the value of many smaller gold deposits. The Company expects all contracts and agreements pertaining to Group 11 will be finalized in the coming months.
Catalytic Converter Program
As announced February 24, 2020, EnviroLeach has partnered with MineworX Technologies Inc. to develop a commercial application of EnviroLeach's patented technology to recovery platinum group metals from catalytic converters.
The first stage of research and development has started at EnviroLeach's laboratory. The work program is being conducted by MineworX staff in collaboration with and under the direction of the EnviroLeach technical team. Early tests for the recovery of platinum and palladium using the EnviroLeach Process, are consistently delivering recoveries in excess of 90%. The goal of this stage of research is to advance the project to pilot scale testing.
Research and Development on Tin Recovery from Printed Circuit Boards
The recovery of tin from printed circuit boards represents a potential opportunity to enhance operational margins and enhance EnviroLeach's sustainability innovations in the recycling and manufacturing sectors. Tin is not currently recovered during smelting of printed circuit boards (PCB's). Research indicates PCB's may contain between 2% to 6% tin by weight. With current tin prices at US $17/kg, the ability to recover tin could significantly increase the value of scrap PCB's.
In addition to the obvious economic benefits of recovering and reusing tin, the metal is recognized as a conflict mineral and in accordance with the US Dodd-Frank Wall Street Reform and Consumer Protection Act (USA) and the OECD Due Diligence Guidance for Responsible Mineral Supply Chains, manufacturers are required to responsibly source tin through regular supply chain audits including recycled sources.
EnviroLeach has continued research programs for tin recovery from printed circuit boards. The Company has received advisory services and research and development funding support from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to further this technology application toward commercialization. Initial test work and internal investigations confirm the recovery of tin is in a form and of sufficient purity acceptable to existing tin processors. A number of interested parties have contacted the Company expressing interest in the tin project and the potential for collaboration or future supply agreements.
Annual General Meeting Postponement
The Canadian Securities Administrators have acknowledged that the COVID-19 outbreak presents significant challenges for reporting issuers in meeting certain of their obligations under their respective Securities Commission rules. In response, extensions for the holding of the Company's Annual General Meeting ("AGM") and associated approval provisions have been granted up to December 31, 2020. The Company has elected to rely on the relief provided under Alberta Securities Commission Blanket Order 51-518 and is postponing its AGM. When a date, time and place for the AGM is set, the Company will issue a news release and arrange for the delivery of the AGM Information Circular. The Company also relies on the blanket relief with respect to its obligation to file a statement of executive compensation within 180 days of the Company's year end, as set out in section 9.3.1(2.2) of National Instrument 51-102 - Continuous Disclosure Obligations, and will include such statement of executive compensation in the Information Circular for security holders which will be filed on SEDAR in connection with its AGM. The health and safety of team members and shareholders is of utmost importance to the Company.
The Company confirms that its annual financial statements, related management's discussion and analysis and certifications for the year ended December 31, 2019 were filed on April 29, 2020 and its quarterly financial statements, related management's discussion and analysis and certifications for the three month period ended March 31, 2020 were filed on May 28, 2020, copies of which are available on SEDAR at www.sedar.com.
About EnviroLeach Technologies Inc.
EnviroLeach Technologies is engaged in the development and commercialization of environmentally friendly formulas and technologies for the treatment of materials in the mining and recycling sectors. Using its proprietary non-cyanide, water-based, neutral pH treatment process EnviroLeach extracts precious metals from ores, concentrates, and E-Waste using only FDA approved additives and ambient temperature water.
Backed by the momentum of a first-class staff of scientists and engineers, tens of thousands individual assays, independent validations, strategic partners and over $20 million in research and development, EnviroLeach's technology is emerging as a potential new standard for the provision of eco-friendly methods for the hydrometallurgical extraction of precious metals in both the conventional mining and E-Waste sectors. Further information is available on the EnviroLeach web site:https://EnviroLeach.com
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 with respect to our Research and Development activities, the accuracy of our capital and operating cost estimates; production and processing estimates; the results, the adequacy of EnviroLeach'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 with respect to 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 EnviroLeach'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.
Contact Information :
VP Corporate Development
EnviroLeach Technologies Inc.
SOURCE: EnviroLeach Technologies Inc.