EnviroLeach Technologies Inc. - President and CEO, Duane Nelson
President and CEO, Duane Nelson
Source: Youtube (Disrupt Mining)
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • EnviroLeach Technologies (TSXV:ETI) is creating a joint venture with enCore Energy (TSXV:EU) and Golden Predator Mining (TSXV:GPR) 
  • The joint venture will develop EnviroLeach’s patented gold recovery process
  • The process involves pumping leaching chemical into underground gold deposits 
  • EnCore Energy will contribute C$750,000 to the venture and Golden Predator is contributing expertise
  • EnviroLeach Technologies (ETI) was up 13.46 per cent, with shares trading for $1.18

Metal processes developer, EnviroLeach Technologies (TSXV:ETI), is forming a joint venture with two TSXV companies to advance its gold recovery process.

EnviroLeach will join with enCore Energy (TSXV:EU) and Golden Predator Mining (TSXV:GPR) to develop the process.

EnCore and EnivroLeach will each assume a 40 per cent share in the new joint venture. Golden predator will own the remaining 20 per cent interest.

In exchange for the patented process, EnviroLeach will receive C$750,000 from enCore. Golden Predator will contribute company management and experience operating a mineral recovery plant.

All three companies have signed a letter of intent regarding the joint venture. According to the agreement, EnviroLeach will maintain its intellectual property rights on the existing patent and related technology.

Furthermore, Enviroleach will also have preferred rights over all new technology developed by the joint venture moving forward.

EnviroLeach’s patented gold recovery process involves pumping leaching chemicals through underground gold deposits and then into processing plants. The leaching chemicals pick up the gold en route, which can then be processed at the on-site facility. 

Duane Nelson, President and CEO of EnviroLeach, is pleased with the collaboration.

“I am very excited that we continue to advance the application of our formulas with the potential addition of the in-situ recovery of gold.

“It may unlock the value of deposits in environmentally sensitive areas and may offer a viable solution for thousands of smaller deposits that don’t justify current conventional mining techniques.”

EnviroLeach shares are up 13.46 per cent, with shares trading for $1.18 at 1:23pm EST.

More From The Market Herald
Filo Mining

" Filo Mining increases financing to $130M

Filo Mining (TSX:FIL) has increased its non-brokered private placement to raise gross proceeds of $130 million, due to strong demand.

" AJN Resources to acquire interest in a highly prospective Eastern DRC lithium permit

AJN Resources (CSE:AJN) will acquire up to a 70 per cent interest in a highly prospective lithium exploration permit.

" Ready to drill, Mantaro completes pad construction at Santas Gloria

Mantaro Precious Metals (TSXV:MNTR) completed drill pad construction at the Santas Gloria Project, ahead of its maiden drill program.

" Canadian diamond miner to raise $800K for discovery follow up

VR Resources, a Canadian diamond miner, seeks to raise up to $800,000 through a non-brokered private placement.