EnviroLeach Technologies Inc. (ETI:CSE; EVLLF:OTCQB) poured its first commercial gold bars using its proprietary formula and process, it announced in a news release.
The 10-ounce bars, produced from 334 pounds of gravity concentrates, represent an average gold recovery of 96.6% with a leach time of less than 24 hours. "This gold production, although small, verifies the ability of our new eco-friendly formula to extract gold into solution and recover it using conventional technologies," President and CEO Duane Nelson said in the release.
"EnviroLeach is now the only commercial scale, economically viable and safe hydrometallurgical gold extraction process in the world," Nelson added. "Our unique and eco-friendly process will change the way the world produces and recycles gold."
Enviroleach's process, which is cyanide free, water based and pH neutral, extracts precious metals from ores, concentrates and e-waste using only U.S. Food and Drug Administration-approved additives and water.
The company noted that the solution can "effectively dissolve gold into aqueous solution with similar leach kinetics and economics to that of cyanide but is sustainable, safe and environmentally friendly. This water-based process has a broad applicability spectrum and is effective on most gold ores and concentrates. It can potentially unlock the value of many deposits located in environmentally sensitive areas that cannot be developed using current extraction methods."
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1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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