Mineworx Provides Further Update on Corporate E-Waste Concentration Plant

Date : 12/11/2018 @ 12:30PM
Source : GlobeNewswire Inc.
Stock : Mineworx Technologies Ltd (MWX)
Quote : 0.105  0.0 (0.00%) @ 5:09PM

Mineworx Provides Further Update on Corporate E-Waste Concentration Plant

Mineworx Technologies (TSXV:MWX)
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Mineworx Technologies Ltd., (the "Company" or "Mineworx") (TSXV: MWX) (OTCQB: MWXRF) (FSE: YRS WKN: A2DSW3), a leading provider of proprietary, cost-effective, and non-toxic precious metals extraction solutions to the E-Waste and mining industries is pleased to provide, along with its JV partner EnviroLeach Technologies, an update on the JV Corporate plant in Vancouver, B.C.

As outlined in in EnviroLeach’s new release of today, Phase 2 of the JV Vancouver E-Waste processing plant is now underway. This phase includes the development of version 2.0 of chemical treatment plant.

This phase of the plant will consist of the continuous chemical treatment of the organic/light fraction produced by the current concentrate line, followed by secondary density separation, proprietary attrition scrubbing, agitation, dissolution of the metals into aqueous solution, solid/liquid separation and finally the extraction of the precious metals from the pregnant solution. The barren solution is then regenerated and reused. The resulting dried tailings will be shipped to our partner and will be repurposed in the manufacturing of cement products.

Many improvements and enhancements have been made to the chemical formula and processes leading to a significantly reduced leach cycle time, lower chemical consumption and improved recoveries.

The entire process operates in a near zero environmental footprint with no landfilling of waste, no atmospheric off-gassing and no water effluent. This results in the most economic and ecologically friendly Printed Circuit Board “PCB” recycling process in the world.

The anticipated completion date of Phase 2 is estimated for Q2 2019.

Greg Pendura, President and CEO commented, “I want to commend both the Mineworx and EnviroLeach teams on the successful launch of the JV’s proprietary concentration plant. This has now paved the way for the addition of a chemical treatment line allowing us to maximize the recovery of precious metals from the organic/light fraction following concentration. We look forward to showcasing our complete plant as an eco-friendly solution to our current and future potential partners in the E-Waste sector.”

The capital investment for the process plant is comparatively low, the entire Vancouver facility is projected to cost $4 million USD with a designed capacity of 20 tonnes of PCB per day. This plant offers the exclusive ability to concentrate low-grade boards without loss of precious metals in the organic/light fraction and produce a high-grade metal, low-grade organic based concentrate appealing to all smelters and refiners.

As part of the E-Waste JV agreement with EnviroLeach, Mineworx will be providing 20% of the funding towards this development. All the Mineworx design and fabrication resources continue to be entirely devoted to the completion of the fully functional Vancouver facility.

Mineworx, which holds a license in perpetuity for use in mining applications from EnviroLeach Technologies for their patent-pending, environmentally-friendly leach, will also continue to develop its opportunities in the traditional mining sector by utilizing the Company’s business model for smaller, high grade gold deposits, providing a solution to property owners experiencing permitting issues with respect to toxic cyanide leaching or seeking an environmentally-friendly alternative to cyanide through its current technologies.

About Mineworx

Mineworx is positioned for growth through partnerships with advanced mining projects as well as E-Waste opportunities through its collaboration with EnviroLeach Technologies. By utilizing its patented and patent pending environmentally friendly portable extraction technologies along with its licensed non-toxic, cyanide free precious metals formula these innovations will increase and enhance business opportunities by deploying cost effective, extractive metallurgical solutions. 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.

This press release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Mineworx’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Iberian’s control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Mineworx believes that the expectations in the forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. As such, readers are cautioned not to place undue reliance on the forward-looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Mineworx does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement

For further information, go to www.mineworx.net

For further information contact:

MINEWORX TECHNOLOGIES LTD.Rick Gliege, V.P. Corporate Development250-751-3661rick@mineworx.net

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