Group 11 Technologies Inc., (‘Group 11 or the
“
Company”), a United States-based private company
committed to testing and implementing non-invasive in-situ recovery
(“ISR”) of precious metals with the use of environmentally friendly
solutions, is pleased to announce its commercial launch. Effective
August 28th, 2020 Group 11’s founding partners have finalized all
necessary organizational, shareholder, and licensing documentation
and will now commence formal operations. Group 11’s initial steps
will include the acquisition and subsequent testing of already
identified gold projects that demonstrate specific qualities
lending themselves to the Company’s environmentally and
economically superior processes. Group 11 is committed to providing
commercially viable, sustainable alternatives to conventional
mining for the extraction and processing of precious metals.
Group 11 was founded and is owned by enCore
Energy Corp. (“enCore”) (TSXV: EU; OTCQB: ENCUF) with 40% of the
common stock, EnviroLeach Technologies Inc. (“EnviroLeach”)
(CSE : ETI; OTCQB: EVLLF) with 40% of the common stock and
Golden Predator Mining Corp. (“Golden Predator”) (TSXV: GPY; OTCQB:
NTGSF) with 20% of the common stock. EnCore has contributed
$750,000 in initial funding and will provide in-situ extraction
expertise, EnviroLeach has entered into a license agreement with
Group 11 for the use of its environmentally friendly metal recovery
process and will provide chemical and metallurgical expertise,
Golden Predator will contribute mobile processing equipment and
expertise in utilizing EnviroLeach’s environmentally friendly
solution for recovery of gold from sulphide concentrates.
Group 11, a private company, will finance all ongoing
research and development expenditures for in-situ and secondary
recovery applications.
About Group 11 Technologies
Inc. Sustainable metals extraction is a serious challenge
for the mining industry which faces mounting concerns over its
environmental and carbon footprint, energy consumption, operational
safety and especially its impact on water use and water quality
while responding to an ever-increasing need for metals in our daily
lives. Each Group 11 owner brings a vital skill set to address
these challenges and create a unique business opportunity. Group 11
is backed by a first-class staff of scientists and engineers; an
extraordinary data set; independent technical validations;
strategic relationships; over $20 million in research and
development; and commercially proven processes and
technologies.
Duane Nelson, President, and CEO of EnviroLeach
commented: “We are very excited to be a part of this important and
disruptive new mining initiative. The in-situ recovery of gold
using the EnviroLeach/Group 11 combined processes, has the
potential to change how the world mines gold. This technology
provides a relatively non-invasive, low CAPEX/OPEX alternative to
conventional gold mining. This could unlock the value of thousands
of smaller gold deposits, and those in sensitive environments. The
combined talented teams of scientists, metallurgists, and
executives have the necessary experience, expertise, and resources
to drive this forward.
Dennis Stover, CEO of enCore Energy stated: "The
enCore team members were active inventors and innovators in the
earliest stages of developing and commercializing ISR technologies
for the U.S. uranium mining industry and continue these leading
efforts today. We look forward to applying our expertise with this
proven, environmentally sound technology to the recovery of
precious and other metals."
Janet Lee-Sheriff, CEO of Golden Predator said:
“The completion of these Agreements is our first step in our
in-situ mining initiative using the EnviroLeach recovery process.
Mining needs to become less invasive and more sustainable.
Group 11 is a unique combination of proven and proprietary
knowledge to lessen the industry’s footprint without any sacrifice
of efficiency. With Group 11, we have combined efforts to take our
collective technological developments into a private company with
experts in non-invasive mining and environmentally-friendly
solutions. We intend to disrupt the mining industry.”
Background on Non-Invasive Extraction
TechnologyNon-invasive extraction of minerals has been
successfully implemented in the mining sector with many innovators
and patent holders in the field on the team at enCore, one of the
Group 11 partners. These innovators pioneered In-situ Recovery
(“ISR”) which has been successfully utilized to recover metals
including uranium and copper using liquid solutions other than
cyanide. Group 11 is committed to the development and
application of ISR extraction for gold and other metals using
EnviroLeach’s patented environmentally friendly process along with
enCore’s expertise in ISR extraction. This combination of expertise
will advance a business model that has potential to disrupt the
conventional mining industry.
In-Situ Recovery (meaning ‘in place’) is a
non-invasive extraction method that has transformed the uranium
industry. In ISR, diluted water based solutions are circulated
underground, dissolving the targeted metals, and returned to
surface for further processing and recovery of the target metals.
ISR means no open pits or underground tunnels, no tailings or large
waste dumps and no discharge of noxious chemical at surface. It
therefore has the potential to be a low-impact, low capital cost
mining method. At the end of a mine’s life, when many projects are
burdened by remediation and rehabilitation requirements, ISR means
substantially reduced mine-closure time and costs compared to
conventional practices. In addition, energy requirements, water
usage and the environmental footprint of mining projects can be
significantly reduced using ISR technology.
About enCore Energy Corp.enCore
Energy Corp., with assets entirely in the United States, has a 100%
interest, free of holding costs, in 115,000+ acres (46,400 ha) of
private mineral rights in New Mexico, including the Crownpoint and
Hosta Butte uranium deposits. These deposits contain an estimated
Indicated Mineral Resource of 26.6 million pounds of U3O8 at an
average grade of 0.105% e U3O8. A portion of these resources are
under NRC license. The Company also holds the Marquez project in
New Mexico as well as a dominant land position in Arizona with
additional properties in Utah and Wyoming. The Company owns or has
access to an extensive collection of proprietary North American and
global uranium data including the Union Carbide, US Smelting and
Refining, UV Industries, and Rancher’s Exploration databases in
addition to a leading collection of geophysical data for the
high-grade Northern Arizona Breccia Pipe District.
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.
EnviroLeach’s technology is emerging as a potential new
standard for the provision of eco-friendly hydrometallurgical
extraction of precious metals.
About Golden Predator Mining
Corp.Golden Predator is advancing the past-producing
Brewery Creek Mine towards a timely resumption of mining
activities, under its Quartz Mining and Water Licenses, in Canada’s
Yukon. The 100% owned project has established resources grading
over 1.0 g/t Gold and a Bankable Feasibility Study underway
considering the economics of a restart of heap leach operations at
the Brewery Creek Mine. Golden Predator Mining Corp. has
spearheaded and successfully applied the EnviroLeach technology to
the recovery of gold from sulfide concentrates where cyanide is not
feasible or permitted, using its proprietary mobile recovery unit.
Group 11 Technologies
Inc. (‘Group 11’) is a private
US-based company committed to the development and application of
environmentally and socially responsible mineral extraction. Its
combination of non-invasive extraction technology and
environmentally friendly processes to recover gold and other metals
provides an alternate solution to conventional open pit and
underground mineral extraction. The goal of advancing sustainable
extraction considers growing concerns surrounding water use and
discharge, carbon footprint, energy consumption and safety while
addressing a growing global need for metals in our daily lives.
Group 11 is owned by EnviroLeach Technologies Inc. (CSE: ETI)
(OTCQB: EVLLF), Encore Energy Corp. (TSXV: EU) (OTCQB: ENCUF) and
Golden Predator Mining Corp. (TSXV:GPY) (OTCQB:NTGSF).
Group 11 is a group of
elements in the periodic table, also known as the coinage metals,
consisting of copper (Cu), silver (Ag), and gold (Au). They were
most likely the first three elements discovered.
For additional information: Group 11 Technologies
Inc. 970-844-6888 info@gr11tech.com
www.gr11tech.com
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein. This press release contains
forward-looking information that involve various risks and
uncertainties regarding future events. Such forward-looking
information can include without limitation statements express or
implied regarding completion of the transactions described herein,
the upcoming season at 3 Aces project, and projected grades
and gold and silver recoveries from the 2018 and proposed 2019 bulk
sample program, Actual results and future events could differ
materially from those anticipated in such information. These and
all subsequent written and oral forward-looking information are
based on estimates and opinions of management on the dates they are
made and are expressly qualified in their entirety by this notice.
Except as required by law, the Company assumes no obligation to
update forward-looking information should circumstances or
management's estimates or opinions change.
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